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Assumptions:

  • The customer is not withdrawing any funds, all proceeds are being reinvested.
  • Initial contribution is immediate and then the incremental contributions are at the start of the "next" recurring period. (example: customer contributes $1000 today and sets up a monthly recurring payment. The first recurring payment does not hit the account until the first day of the second month).
  • The growth shown is pre-tax and does not factor in the plan type such as RSP, TFSA, etc.
  • Government subsidies or other grants are not included (i.e. 20% grant for RESP contributions)
  • All rates of return (chosen by the customer) are reflected as a full year of return in the chart
  • Interest rate: default 5.00%, range 0-15%
  • Timeline: default is 10 years, range from 1 to 50
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