- I would like to buy my first home. How much can I afford to borrow since the loan rates could be much higher when I renew my mortgage? Should I use the HBP, the FHSA or a combination of both?

- I’m considering changing jobs, but is it a good deal financially?

- I’d like to start saving for retirement, but should I favour an RRSP or TFSA?

- Can I afford to retire or take phased retirement?

- How much capital do I need to accumulate at retirement to maintain my standard of living?

- How much can I expect to receive from public plans and at what age should I apply for my pension?

- Should I change my asset allocation strategy upon retirement?

- Should I split my pension income with my spouse to reduce our tax burden?

- At what age should I consider transferring my RRSP (for example) to a RRIF and how much can I expect to receive annually thereafter?

- I need to withdraw an additional amount from my investments this year. Should I withdraw it from my RRSP, TFSA or other investments?

- How much spending can I afford each year? Will I run out of money?

- We have two homes that could be designated as principal. We need to sell one of the properties, but we need to choose which one to designate as principal each year. How do we choose?

- I would like to ensure that my spouse won’t be left with anything when I die, considering the income taxes I will have to pay in the year of my death. Is this possible?

- I’d like to leave my estate with a significant amount of money, after taxes. Is this a realistic amount?

- I have a lot of money accumulated in my RRIF that I would like to leave to my children. Should I consider withdrawing the money annually and giving it to them during my lifetime?

ffPro allows you to include several types of real assets (e.g. a residence or an income property). The app also treats defined benefit pension plans and government plans (OAS and QPP) as assets of the individual and inserts an estimate of the actuarial value of these plans into the projected balance sheet.

Furthermore, ffPro projects annual financial statements and income tax returns. This provides a complete and transparent picture of the projected financial situation, and consequently better information for decision making.

ffPro was designed to give you the most realistic projections possible. Taxation remains the cornerstone of sound financial planning. We have developed some of the industry’s most advanced taxation models for individuals to help you plan more accurately.

Over 60 income, deductions, credit and contribution lines have been incorporated into our federal taxation model, and the provincial model covers more than 50, each of which can be consulted for each projection year. No other solution is this thorough and transparent.

ffPro also calculates several credits and benefits payable to individuals during the year. These include, among others, family allowances and the Guaranteed Income Supplement (GIS). This allows the app to calculate projected income taxes on an effective basis, as well as to present an effective marginal income tax rate and its composition.

ffPro lets you develop a succession strategy and project the transfer of after-tax wealth from one generation to the next. In this way, the app helps provide financial security for spouses and relatives.

ffPro also allows you to integrate your parents’ financial profile into your projection, and consequently their inheritance.

ffPro was structured to reflect a family’s unique situation as closely as possible.

The app also makes it possible to effectively compare different scenarios and produce analyses never before seen in the industry.

You’re also not limited by the number of occupations, assets, debts, revenues or expenses that you can enter. You can, for example, enter one employment and one self-employment, or enter information on three RRSP accounts with different profiles.

Data entry for the Quebec Pension Plan (QPP), Old Age Security (OAS) and defined benefit pension plans was designed to enable the app to automatically calculate the pension payable at any starting age. This is done while taking into account salary progression and future years of contributions, residence and service. This unique approach provides one-click answers to questions such as when will I be financially independent, or should I delay the start of my government pensions?

ffPro allows you to generate a detailed report including the sections that interest you. Subscribers can print it, download it and share it with their advisor or client.