Can anyone recommend DIY Financial Planning Software?

[Scrapper]

I am looking for some type of software that can help me with deciding what to do with my limited RRSPs before I reach age 71. My spouse & I will be considered low income in our senior years. From what I have read online, if we keep our RRSPs and turn them into RRIFs we will lose 50 cents out of every dollar that we would have received in GIS.

Looking for software that could guide me in the right direction so I can cash out my RRSPs now, max out TFSAs and receive as much GIS as possible in later years.

Any suggestions would be appreciated.

[tjthemanto]

Quicken is apparently good , but never used it myself

http://quicken.intuit.ca/personal-fi...ware/index.jsp

Microsoft Money Plus Sunset is another one , haven't used it either..its kind of discontinued though.

http://support.microsoft.com/kb/2118008

Usually if you are good with Excel , you can create your own budget and financing and retirement spreadsheets etc.

MS Excel is a pretty powerful program, most people tend to ignore it though.

[tjthemanto]

I have always felt that RRSP's are a rip off for low income seniors and low income earners, the tax benefits just don't add up for what they will be losing in GIS and OAS reductions due to their RRSP

Its probably a bigger benefit for high income earners and high incone retirement seniors , as they don't get GIS anyways.

You probably haveto carefully balance stuff between RRSP , TFSA or even no RRSP etc ..lot of permutations and combinations.

For some people jut paying of their mortgage is more beneficial than RRSP , the money they save in mtg interest is more than the tax breaks and increases they getin RRSP's

Some people don't get much into RRSP's or TFSA's or stuff like that, but just focus on paying of the mtg ..but have a mtg free house now in retirement with oas and gis payments coming in