Data Sources & Methodology
Transparency is important to us. Here's where we get our data and how we calculate results in our various tools.
📊 Stock Market Data
Sources:
- Toronto Stock Exchange (TSX)
- TSX Venture Exchange (TSXV)
- New York Stock Exchange (NYSE)
- NASDAQ
- Real-time market data providers
Update Frequency:
Stock prices and market data are updated in real-time or with a 15-minute delay, depending on the exchange and data provider agreements.
🏠 Mortgage Rates
Sources:
- Direct from major Canadian banks (RBC, TD, Scotiabank, BMO, CIBC)
- Online lenders (EQ Bank, Tangerine, Simplii)
- Mortgage broker networks
- Bank of Canada policy rate
Update Frequency:
Mortgage rates are typically updated daily or when banks announce rate changes. Rates shown are "posted rates" and actual approved rates may be lower.
💰 Tax Information
Sources:
- Canada Revenue Agency (CRA)
- Provincial tax authorities
- Federal Budget announcements
- Official government tax guides
Update Frequency:
Tax brackets, TFSA limits, and RRSP contribution limits are updated annually when officially announced by the CRA, typically in late fall for the following tax year.
🧮 Calculator Methodology
Mortgage Calculator
Uses standard mortgage amortization formulas:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]Where M = monthly payment, P = principal, i = monthly interest rate, n = number of payments
TFSA Calculator
Uses official TFSA contribution limits from the CRA. Accumulates room from the year the user turned 18 or 2009 (whichever is later). Accounts for contributions and withdrawals based on user input.
FIRE Calculator
Based on the 4% safe withdrawal rate (Trinity Study) and the formula: FIRE Number = Annual Expenses ÷ 0.04. Uses compound interest calculations to project years until financial independence.
Income Tax Calculator
Uses official federal and provincial tax brackets from the CRA. Calculates marginal and effective tax rates, and applies standard deductions and credits. Results are estimates and may not reflect your exact tax situation.
Compound Interest Calculator
Uses the compound interest formula for both lump sum and regular contributions:
A = P(1 + r/n)^(nt) + PMT × [(1 + r/n)^(nt) - 1] / (r/n)Where A = final amount, P = principal, r = annual rate, n = compounds per year, t = years, PMT = periodic payment
⚠️ Important Disclaimers
- All calculations are estimates and for educational purposes only
- Actual results may vary based on your specific situation
- Tax calculations don't include all possible credits, deductions, or special situations
- Mortgage rates shown are "posted rates" - you may qualify for better rates
- Stock prices may be delayed and should not be used for trading decisions
- Always consult with qualified professionals before making financial decisions
📝 Our Commitment to Accuracy
We strive to maintain the highest standards of accuracy in all our tools and content. Our team regularly reviews and updates formulas, data sources, and methodologies to ensure they reflect current best practices and regulations.
If you notice any errors or have questions about our methodology, please don't hesitate to contact us.