March 17, 2022 Personal Wealth White Papers Financial Planning Assumptions Published: March 17, 2022 Introduction This guide is intended to provide Canadian financial planners with our best estimates of future assetclass returns and volatilities to produce financial projections for their clients. Throughout this document,it is assumed that investors hold a broadly diversified portfolio of publicly traded Canadian fixed incomesecurities and global equity, the latter including both developed and emerging markets. These estimatesare valid uniquely in the context of an investor who purposely avoids concentration in one or a few securities or sectors. Our investment horizon is 40 years. A comprehensive description of our methodology is also available. For users of the Naviplan financial planning software, key inputs are highlighted in blue. We have added an appendix to provide users of Naviplan with data presented in a more compatible format. Table of Contents Introduction Expected InflationPrimary ResidenceAsset Class Expected ReturnsExpected Standard DeviationsExpected CorrelationsComposition of Asset Class Returns Portfolio Expected Returns Appendix: Composition and Standard Deviation of Expected Returns This report was written by the Research team at PWL Capital Inc. The ideas, opinions, and recommendations contained in this document are those of the authors and do not necessarily represent the views of PWL Capital Inc. Download Financial Planning Assumptions