TORONTO, Jan. 27, 2011 – “How much money will I have when I’m 65 years old?”
“Will my money run out if I make it past 76?”
“What will be my average golf score when I’m 88?”
These are just a few of the questions that many Canadians might ask themselves if they could peer into the future and check up on exact timelines during their golden years. The launch of the Russell Retirement Calculator at www.russell.com/ca actually gives investors the opportunity to instantly see their estimated portfolio values and remaining assets at any age during retirement by sliding their mouse across various points on the Calculator’s graphs.
“The Russell Retirement Calculator almost acts as a personal retirement planning time machine. It allows Canadians to see what the future might look like at any point of their lives. Detailed results are based on their current age, expected retirement age, income, annual savings, and portfolio value – which can all be inputted in seconds,” explains Fred Pinto, Managing Director of Distribution Services at Russell Investments Canada Limited (Russell).
“The Calculator offers investors a detailed glimpse into their financial future at all ages and stages of retirement. But it is also incredibly easy to use – just a few quick inputs, click, and slide.”
John Smith is an example of someone who would use the online calculator to get a better idea of his financial picture. Smith is 45 years old and would like to retire when he’s 65. He inputs his current portfolio value as $250,000. His current gross annual income is $100,000 and his initial annual savings is $10,000.
According to the Russell Retirement Calculator, Smith’s portfolio value at age 65 would be $1,477,541. If he slides over to age 76, he will instantly see that his estimated retirement portfolio value would be $1,332,406.
“The Russell Retirement Calculator is part of our ongoing commitment towards helping investors better understand retirement planning. Hopefully, the Calculator can encourage more Canadians to start preparing for their future by discussing their findings with a trusted financial advisor,” says David O’Brien, a director at Russell working in the Calgary region.
“It’s never too late or too early to get started thinking about the future.”
For more information about the Russell Retirement Calculator, visit: www.russell.com/ca
About Russell Investments
Founded in 1936, Russell Investments is a global financial services firm that serves institutional investors, financial advisers and individuals in more than 40 countries. The firm has $140 billion in assets under management (as of 06/30/10) in its mutual funds, retirement products, and institutional funds.
Russell Canada was recently named the #1 fastest growing money manager in Benefits Canada’s 2010 Top 40 Money Managers Report. For more information about how Russell helps to improve financial security for people, visit us at www.russell.com/ca.