Choosing the Right Retirement Planning Option in Canada: DIY vs Advisor Support

Help Desk
Jan 5
3 min read

How does the DIY Retirement Planner work?

The DIY Retirement Planner is designed for Canadians who want to plan their retirement independently, at their own pace, with clear and reliable information.

With the DIY Retirement Planner, users build a personalized retirement income plan using Milestones Retirement Insights without meeting with an advisor. The software guides users through entering their information and then generates a detailed retirement income report based on Canadian tax rules and government benefits.

This option is ideal for Canadians who are comfortable making their own decisions but want accurate projections and clarity around retirement income.

What does the DIY Retirement Planner include?

The DIY Retirement Planner allows Canadians to:

Build a personalized retirement income plan online
See where retirement income will come from year by year
Plan withdrawals from Registered Retirement Savings Plans, Tax-Free Savings Accounts, pensions, and non-registered accounts
Compare different retirement ages and income scenarios
Understand how long savings may last in retirement
See the impact of taxes on retirement income
Model Canada Pension Plan and Old Age Security timing options
Plan as an individual or as a couple
Include multiple income streams, including corporate income

All projections are based on Canadian tax rules and government benefit programs, helping users make informed decisions without relying on guesswork.

View a sample report here: Sample Report

Who should use the DIY Retirement Planner?

The DIY Retirement Planner is a good fit for Canadians who:

Prefer to manage their own retirement planning
Want clarity without ongoing advisory fees
Are early in retirement planning and exploring options
Have relatively straightforward financial situations
Want a clear picture before deciding whether professional support is needed

Many users start with the DIY Retirement Planner and later choose to add Planner + Pro Support if they want a professional review.

Can I upgrade from the DIY Retirement Planner later?

Yes. Canadians can start with the DIY Retirement Planner and upgrade to Planner + Pro Support at any time if they decide they would like a one-on-one review with a qualified advisor.

This flexibility allows users to plan independently first and seek professional guidance only when they feel it’s needed.

How does DIY Planner + Pro Support work?

DIY Planner + Pro Support is designed for Canadians who want to stay in control of their retirement planning while still benefiting from professional guidance.

With this option, users first build their own personalized retirement income plan using Milestones Retirement Insights. The software brings together all income sources, including Registered Retirement Savings Plans, Tax-Free Savings Accounts, pensions, Canada Pension Plan benefits, Old Age Security benefits, and other income, into a clear, year-by-year projection.

Once the plan is created, users can schedule a one-on-one review with a qualified advisor on a pay-for-service basis. During this review, the advisor helps explain the results, checks key assumptions, and discusses different scenarios, such as changing retirement age, adjusting withdrawal strategies, or altering the timing of government benefits.

The advisor does not take control of the plan or manage investments. Instead, the goal is education and clarity. Users leave the session with a better understanding of their options, potential risks, and opportunities to improve tax efficiency and long-term sustainability.

Planner + Pro Support is especially helpful for Canadians who: