Do you want to know now what your savings will amount to by a certain age? These convenient and easy-to-use tools can help you determine how much you need to save between now and the date you wish to stop working and be able to retire in comfort.

Coastal Community Loan Calculator

Paying down debt is an important part of a savings strategy. Enter your loan details into our Loan Calculator to keep track of your repayment schedule.

Coastal Community Retirement Planner Calculator

The retirement calculator is a great tool we advise anyone to try out. First, enter in all your personal details — and the planner automatically calculates what your end result will potentially be.

The planner will also inform you if your goals cannot be met given the information you’ve entered, allowing you to think about adjusting your savings patterns and amounts. Talk to a financial advisor to get personalized advice on the steps you can take to adjust for any future shortfalls and plan accordingly.

Canadian Retirement Income Calculator

Even our own federal government has gotten in on the act, and in a surprisingly imaginative way.

The Canadian Retirement Income Calculator is an excellent tool that will provide you with retirement income information, including the Old Age Security (OAS) pension and Canada Pension Plan (CPP) retirement benefits.

You will need to work through a series of modules in order to estimate your retirement incomes from various sources and compare them to your goal income. It also allows you to see the impact that changes in your savings behaviour can have on the end result.

Conclusion

Each of these tools offers you a simple and convenient way to start planning how much you need to save and for how long, in order to secure your comfortable retirement. Revisit these retirement planner tools frequently to make adjustments as your financial situation evolves—say, if your salary changes, you come into an inheritance or receive some other windfall.

Don't forget that talking to a financial advisor will help you create, monitor and adjust a comprehensive retirement plan tailored for you.