Retirement Calculator

See if you will have enough money
to last through retirement.
Expand Income Need
Current age
35
Retirement starts at age
65
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Retirement Starts at Age
If you are already retired, enter the same age as your current age.
Retirement ends at age
90
Current annual income
65,000
Info
Current Annual Income
Enter your current annual income (before tax).
Index income to inflation rate of
2.00%
X
Input Error: Inflation Rate
Enter a value between and %
 
Inflated income at retirement
$213,267
How much will you need at retirement?
75.00%
Info
How Much Will You Need At Retirement?
Typically, you will need less income during retirement. A general guideline is 70% to 80% of pre-retirement income.
 
Income need in first year of retirement
159,950
Expand Retirement Investments
Current value of investments
50,000
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Current Value of Investments
Enter the combined value of your RRSPs, TFSAs and non-registered investments.
Annual investments
5,000
Info
Annual Investments
Enter the approximate amount you can invest each year.
Start at age
35
End at age
65
Rate of Return on Investments:

Before retirement
6.00%
X
Input Error: Rate of Return
Enter a value between and %
During retirement
4.00%
X
Input Error: Rate of Return
Enter a value between and %

Expand Retirement Income
Government Pensions

Canada Pension Plan
13,610
Info
Government Pensions
The maximum annual CPP retirement benefit is $ as of .
Old Age Security
7,075
Info
Old Age Security
The maximum annual OAS retirement benefit is $ as of .
 
Total (in today's dollars)
20,685
Company Pension

Annual pension (in today's dollars)
0
Info
Annual Pension
Enter the approximate amount you will receive from your company's defined benefit pension plan in today's dollars.
Start at age
65
End at age
90
Other Income

Annual income (in today's dollars)
0
Info
Annual Income
Enter any income from part-time work, self-employment or a rental property during retirement.
Start at age
65
End at age
75
Expand Results

Adjust Your Plan:

Retirement Age
65
% Income Needed At Retirement
75.00%
Annual Investment
5,000
Rate of Return (Before Retirement)
6.00%
Rate of Return (After Retirement)
4.00%
Summary Chart
Investment Chart
$16,000
$12,000
$8,000
$4,000
$0
You Will Have
You Will Need




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Assumptions
CPP, OAS, company pensions and other income are all indexed to the entered inflation rate of %. You qualify for the maximum CPP and OAS amounts and both benefits start at age 65. Annual investments are made at the end of the year and are not indexed. All calculations are before taxes.

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