# Learning Center

### Net Worth Calculator

Your net worth is the value of all of your assets, minus the total of all of your liabilities. Put another way, it is what you own minus what you owe. If you owe more than you own, you have a negative net worth. If you own more than you owe you will have a positive net worth. This calculator helps you determine your net worth. It also estimates how your net worth could grow (or shrink!) over the next ten years.

### Savings Calculator

Consistent investments over a number or years can be an effective strategy to accumulate wealth. Even small additions to your savings add up over time. This calculator demonstrates how to put this savings strategy to work for you!

### Compare Savings Rates

Even a small difference in the interest you are paid on your savings can add up over time. Use this calculator to see how different savings rates can impact your savings strategy! By making deposits at the start of each month, compared to the end of the month, can also make a difference.

### RRIF Payment Calculator

A Registered Retirement Income Fund (RRIF) is a plan designed to provide Canadians with a constant income flow through retirement.

The property under a RRIF is derived as a result of a transfer of funds from an RRSP or another RRIF. The funds in a RRIF are tax-exempt and amounts paid out of a RRIF are taxable on receipt.

Canada Revenue Agency stipulates that a minimum payment must be withdrawn from your RRIF each year and reported as income. his minimum annual payment is taken from a schedule that is based on your age or the age of your spouse.

### RESP Savings Calculator

Saving for your children's education requires a long-term plan. And, like saving for retirement, the earlier you start your plan the better. Use this calculator to help develop or fine tune your education savings plan.

### Mortgage Loan Calculator

Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay, and your principal balances. You can even determine the impact of any principal prepayments! Press the report button for a full amortization schedule, either by year or by month

The calculators contained on this site are provided for illustrative purposes only and is only intended to assist you in understanding how certain investment strategies may impact your investments over a specific period of time. NorthBay Financial nor Sterling Mutuals Inc., does not warrant or make any representations regarding the use or the results of the Calculator in terms of its correctness, accuracy, timeliness, reliability, or otherwise.