It's tax season and time to think about setting dollars aside for RRSP and TFSA

Retirement savings calculator answers “Will I have enough?”

This RRSP season, your clients may be asking, “Will I have enough for my retirement goals?” Now you have one more tool to help answer that question.

The new retirement savings calculator on manulifebank.ca shows a clients’ savings goals against their projected surplus or shortfall. All you need to do is enter a few client details, and we’ll show you the rest. It’s that quick and easy.

You can use it year-round to:

• Regularly check on clients’ retirement plans
• Show how an RRSP loan1 could help
• Start a conversation about retirement savings options
• Help clients set realistic retirement goals
• Show how life changes can affect retirement savings
• Stress test clients’ retirement plans

Don’t forget – TFSA calculator also available

A TFSA offers tax-free compound growth that could increase your clients’ savings. With our TFSA calculator on manulifebank.ca, simply enter your client’s details and you’ll see how much they could save with a TFSA compared to taxable investments.

1 Borrowing to invest in an RRSP may not be appropriate for everyone. Your clients will need the financial means to meet their loan obligations. In addition, investments held in an RRSP may fluctuate in value. Your clients should be aware that, regardless of their RRSP’s performance or value of any investments held in their RRSP, they will be required to meet their loan obligations in full. Please ensure clients read the terms of their loan agreement and the investment details for important information. Manulife Bank of Canada solely acts in the capacity of lender and loan administrator and does not provide investment advice of any nature to individuals or advisors. The dealer and advisor are responsible for determining the appropriateness of investments for their clients and informing them of the risks associated with borrowing to invest.