RBC Action Direct and RBC Royal Bank have launched a series of financial tools and calculators to give investors the information they need to plan for their retirement. According to RBC’s 12th Annual RSP Poll, more than 60% of Canadians who are not currently retired have yet to determine the amount of money they need to accumulate in savings or investments to have a comfortable retirement.

RBC’s online banking and trading clients can use the six calculators to answer various questions about retirement. For example:

-How much Registered Retirement Savings Plan (RRSP) savings do I need to reach my retirement goals?
-How much should I save in addition to my RRSPs?
-How much can I contribute to my RRSP?
-How much will my RRSP be worth?
-How much retirement income can I expect from my RRSP?
-How many years will my Registered Retirement Income Fund last?

In addition to these new calculators, 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. Other links show investors where they can learn more about particular topics or provide contact information for product or services including the opportunity to set up automatic RSP contributions or to open an RSP account.