java financial calculators at dinkytown.net

#Java financial calculators at dinkytown.net how to
#Java financial calculators at dinkytown.net software

The average annual compound rate of return is 6 per cent and the calculator assumes the tax refund generated by the RRSP contribution is always reinvested. He has just opened an RRSP and is investing $100 a month. He wants enough money to sustain him in retirement for 25 years. He has no employer pension plan but expects to receive $11,000 a year from CPP. The first was for a 25-year-old Alberta man who wants to retire at 65 with 80 per cent of his current $50,000 annual income. I ran a few scenarios to see what results were generated. But offsetting that is the fact you only need to fill in a few fields to get an idea of whether your current savings plan will achieve your retirement goals. This is not an overly sophisticated calculator - it makes no provision for inflation, for example. Don’t use it unless you are prepared for a wake-up call. High-income Canadians should avoid Nova Scotia (50 per cent marginal tax rate) and flee to Alberta (39 per cent). You’ll also find that British Columbia, Alberta and Newfoundland and Labrador are the best places, tax-wise, for a low-income person to live. To visit the site, go to The website can be found at Want to know your marginal tax rate? Interested in finding out whether dividends or capital gains are more tax effective? Use the tax calculator offered by the accounting firm of Ernst & Young Canada - in my experience, it’s the best of its kind.īy playing around with the numbers, you’ll discover that many Canadians can receive $35,000 a year in dividend income and pay no tax at all if they have no other income. Some of the calculators are also available in French.

#Java financial calculators at dinkytown.net how to

Other calculators on this site will tell you whether it is better to pay off debt or to invest, how long it will take to retire a credit card balance, how to save money in an RESP, and how quickly an RRSP will grow. The same calculator allows you to figure out how to finance a college education and how much it will cost to pay off the loans after graduation.

If cost is an issue, you have to pick your school carefully. The same degree at McGill will cost about $15,100 a year while at the University of Toronto it will set you back more than $22,000 annually. I learned that a four-year engineering degree at the University of Alberta will cost approximately $17,000 a year including tuition, books, room and board, entertainment and transportation.

(Although the site is funded by the OSC, it does not restrict itself to Ontario.) Among other features, it tells you approximately how much it will cost to earn a degree in various disciplines at almost every university in Canada. Young people and their parents will find the university cost and debt calculator especially valuable. The website is a gold mine of useful information and offers 11 helpful calculators, half a dozen worksheets, and numerous articles and tips. This is a non-profit organization established by the Ontario Securities Commission (OSC) to provide unbiased, independent financial information. Recently, I did some extensive research for a new book looking for online financial calculators that are suitable for Canadians.

#Java financial calculators at dinkytown.net software

This calculator compares two alternatives with equal out of pocket costs to estimate the change in total net-worth, at retirement, if you convert your Traditional IRA into a Roth IRA.You don’t have to buy expensive software to find out how much money you need to retire or what a college education will cost. Is this a good option for you? A conversion has both advantages and disadvantages that should be carefully considered before you make a decision. Starting in 2010, all IRA owners and participants in eligible employer-sponsored plans, regardless of income level, are eligible to convert their Traditional IRA and pre-tax funds in an employer-sponsored plan to a Roth IRA. Beginning in 2008, participants with funds in eligible employer-sponsored plans could also roll those funds directly over to a Roth IRA in a qualified rollover if their income did not exceed the $100,000 threshold. Since then, people with incomes under $100,000 have had the option to convert all or a portion of their existing Traditional IRAs to Roth IRAs. This new IRA allowed for contributions to be made on an after-tax basis and all gains (or growth) to be distributed completely tax-free.