When it comes to the subject of retirement planning, we all have the same questions on our minds. Am I saving enough for my retirement? Am I maximizing the rate of return on my portfolio? Am I investing in the right asset mix considering my tolerance for risk?

BMO InvestorLine's Retirement Planner aims to help answer these questions for you. It takes into account your current financial situation, your risk tolerance and your goals for retirement to help you develop a customized retirement plan that meets your needs.

Discover the power of Retirement Planner. Take a tour.

How the Retirement Planner works:

• Create a picture of where you are today by taking an inventory of all the registered assets (example: RRSPs) and non-registered assets (examples: investments, funds from the sale of your house, etc.) you have earmarked for retirement.
• Identify your retirement goals, including your desired retirement income and the age you plan to retire.
• Create a picture of your Investor Profile Type by taking our Investor Profile Questionnaire. The questionnaire is designed to help you understand the type of investor you are based on the level of risk you are comfortable with and how soon you will need to withdraw money from your investments. Your answers will be scored and you will be matched with an Investor Profile Type and a corresponding Asset Allocation Model (the spreading of investments among the main asset types of cash, fixed income and equities).
• Compare the two pictures you have created and select a profile - compare your existing asset allocation against the asset allocation suggested by your Investor Profile Type and decide which one of these profiles is best suited for you to proceed with your retirement plan projections. If neither matches your future needs, build a customized asset allocation model to drive your retirement projections.
• Calculate how well your savings plan and your asset allocation profile meet your retirement goals.

  Your results:

• Summary and Analysis clearly highlights any shortfalls to your retirement goals.
• Savings Plan Details indicates any additional savings required to offset shortfalls and put you back on track to achieve your retirement goals.
• Year-by-Year Projections are prepared for your savings plan, your assets and your retirement income.
• Detailed Comments and Suggested Tools can help you adjust your savings plan and your allocation of your investment portfolio - this completes the retirement planning process and lets you re-visit and monitor your progress as often as you like.

 This planner is uniquely different because it allows you to:

• Earmark the investments you want to consider in your retirement plan calculations, including: your non-registered investment savings as well as your RRSP and company pension plan contributions.
• Plan your sources of income after you retire, including your investment savings, Canada and Quebec Pension Plans and Old Age Security.
• Take into account all Canadian tax and savings rules, Government programs including RRSP contribution limits and pension adjustments.
• Update your plan as the circumstances in your life change.

If would like more information on our new Retirement Planner, please contact a BMO InvestorLine representative at 1-877-569-0800, or sign into your account and select Retirement Planner under the Planning Centre menu.