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Smart Planner Overview

The SmartPlanner is a simple and accurate tool designed to provide you with a comprehensive analysis of your financial picture in retirement.

Web Based

The SmartPlanner is a fully web-based program that can be run on any computer or device with access to the internet. High end security is used for all client information and sensitive client data.

It is free to all users and paid subscribers can save their profiles on the server enabling them to be recalled at a later date for edit or review on any computer.

Simple Data Entry

The SmartPlanner has found the happy medium and eliminates the need for excessive detail during the input process. It allows you to enter key information simply and efficiently. Refer to the checklist link on the first page of the SmartPlanner if you are unsure of what information you will need.

Help is conveniently available during the input proess by clicking on the help icon for each item.  Some of the data is filled in with suggestions that can help speed up the process but you are free to override those suggestions. The FAQ page provides further explanation on the rationale and methodology for the inputs. 

The time you spend entering data can be reduced from hours to minutes.

Functionality

The SmartPlanner provides much more detail than most retirement calculators.

As with other calculators, it forecasts retirement savings needs and adjusts for inflation. But it also includes any pension plans you have and government benefits that you are eligible for. It also allows you to plan a retirement with phased income, part-time business income, and real estate income.

Whatever your circumstances and plans may be there are a number of factors to consider. The Smart Planner calculates how each of these factors impacts your retirement plan.

You can change your retirement income needs as you go from an active retirement lifestyle to a more passive retirement lifestyle as you advance in years. You can add separate one-time benefits and individual lump sum expenditures into your plan.

You can also change any factor on your input page to see the effect on your retirement plan.

Tax Calculations

Smart Plans estimates the taxes payable each year based on current T1 tax calculations. While the SmartPlanner is not a tax program, the tax estimates provided are important factors that are necessary to create an accurate retirement plan.

Corporate taxes are not built into the SmartPlanner. Users who require corporate tax information to be included into their retirement plans should employ the services of a more comprehensive planning solution.

Risk Analysis

Returns on investments will vary widely from year to year and the impact that these varying returns has on your financial future must be considered.

The SmartPlanner uses a simplified Monte Carlo simulation that calculates the effect of varying returns. This feature helps to determine the probability of whether or not your retirement plan will meet your future needs.

You can read more on how we use Monte Carlo simulations.

Reports

The SmartPlanner is designed for use with all clients regardless of age, net worth, or marital status. The reports can be read online with the free version or saved in PDF format to be printed at any time with the subscription version.

The reports have been designed to be concise with a focus on keeping the information relevant and easy to understand.

Analysis

Whenever shortfalls in retirement financing are projected to occur, the SmartPlanner offers options the user may implement to meet their goals.

When choosing an option or combination of options to overcome a shortfall, users should always run the program again to verify whether the desired result will be achieved.

A word of caution

When using the calculator you may see some default numbers appear with respect to rate of return, inflation, life expectancy and so on.  These are relatively conservative estimates based on historical data. While you are free to input your own numbers, we encourage you to set the rose coloured glasses aside. Using assumptions that are too optimistic can lead to disappointment and future hardship if your plan does not achieve these assumptions.

Cost

The SmartPlanner offers both a free version and a subscription version. The free version allows the user to see the results online but files cannot be saved and the reports cannot be saved as PDF files. The subscription version allows the user to save multiple files for future reference and to create PDF reports that can be saved and printed.

Support

We want to ensure that your experience with Smart Plans is a good one. If you are having problems with the program, want clarification on a simple matter or want to provide feedback please contact us by email at smartplans@moneypages.ca.

We will respond promptly by email or phone.

Security

For subscribers, your information can be saved on password protected personal file.  If any changes occur in your personal or financial situation, it is a simple process to recall your file and edit the relevant information.