Canadian Bank Releases Online Retirement Planning Tools

January 31, 2003 ( - Banking and trading clients of Toronto's RBC Royal Bank can now take advantage of six new online calculators to help them better invest their retirement savings.

According to the company, the calculators will help users determine how much they should be saving to reach their retirement goals, how much they can afford to contribute to a retirement saving plan, how much such a plan would be worth in future years and how much income the fund might produce in years to come.

Investors can use the Asset Mix calculator to determine the right mix of investments they should hold based on their risk tolerance, time horizon and financial objectives. Three other calculators help investors estimate mortgage payments and savings needed to finance a child’s education as well as how much an investment will be worth at maturity.

Each calculator has a “Take Action” section that reminds users to review their current portfolio against their future goals. The calculators are available on  an RBC Web site