Retirement Calculator

See if you have enough money
to last through retirement
Income Need
Current age
35
Retirement starts at age
65
Retirement Starts at Age
If already retired, enter the same age as the current age.
X
Input Error: Retirement Starts at Age
Enter a value greater than or equal to 35.
Retirement ends at age
90
X
Input Error: Retirement Ends at Age
Enter a value greater than 65.
Current annual income
65,000
Current Annual Income
Enter the total gross income (before-tax) for the household.
Index income to inflation rate of
2.00%
 
Inflated income at retirement
$213,267
How much will you need at retirement?
75.00%
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
Change income need?
Change Income Need?
You can adjust the income need up to two times during retirement to reflect changes to income and expenditures.
Change income need at age
75
X
Input Error: Change Income Need at Age
Enter a value greater than 65.
Inflated income at above age
0
Percent of above income needed
100.00%
X
Input Error: Percent of Above Income Needed
Enter a value between 1 and 100%.
New income need at age
0
Change income need again?
Change Income Need?
You can adjust the income need up to two times during retirement to reflect changes to income and expenditures.
Change income need at age
75
X
Input Error: Change Income Need at Age
Enter a value greater than 75.
Inflated income at above age
0
Percent of above income needed
100.00%
X
Input Error: Percent of Above Income Needed
Enter a value between 1 and 100%.
New income need at age
0


Investments
RRSPs
Current value
10,000
When? Amount Indexed at Start Age End Age
Annual contribution
2,500
2.00%
35
65
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Other RRSP investments or withdrawals Before retirement (age 35 to )
Description Type Amount Indexed at Start Age End Age
Other 1
0
0.00%
35
65
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Other 2
0
0.00%
35
65
TFSAs
Current value
10,000
When? Amount Indexed at Start Age End Age
Annual contribution
2,500
2.00%
35
65
X
Input Error: Start/End Age
Enter a value between and .
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Other TFSA investments or withdrawals Before retirement (age 35 to )
Description Type Amount Indexed at Start Age End Age
Other 1
0
0.00%
35
65
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Other 2
0
0.00%
35
65
Non-Registered Investments
Current value
10,000
When? Amount Indexed at Start Age End Age
Annual investment
2,500
2.00%
35
65
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Other Non-Registered investments or withdrawals Before retirement (age 35 to )
Other Non-Registered Investments or Withdrawals
Enter inflows such as an inheritance or cash from the sale of a home or outflows like a down payment or a vacation. For single year cash flows, enter the same Start Age and End Age.
Description Type Amount Indexed at Start Age End Age
Other 1
0
0.00%
35
65
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Other 2
0
0.00%
35
65
Other 3
0
0.00%
35
65
Investments or withdrawals during retirement During retirement (age 35 to )
Investments or Withdrawals During Retirement
Enter inflows such as an inheritance or cash from the sale of a home or outflows like a down payment or a vacation. For single year cash flows, enter the same Start Age and End Age.
Description Type Amount Indexed at Start Age End Age
Other 1
0
0.00%
66
90
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Other 2
0
0.00%
66
90
Other 3
0
0.00%
66
90
Other 4
0
0.00%
66
90
Other 5
0
0.00%
66
90

Inflate amounts between now and the Start Ages entered above?
Inflate Amounts?
Click Yes if you want to index the above amounts starting now. Click No to wait until the Start Age to start indexing.

Rates of Return
Before retirement (age 35 to 65)
RRSPs
6.00%
TFSAs
6.00%
Non-Registered Investments
6.00%
During retirement (age 35 to 65)
Rate of return
6.00%
Change rate of return?
Change Rate of Return?
Click Yes if you want to change the rate of return a few years into retirement.
Change the return at age
75
X
Input Error: Change Rate of Return Age
Enter a value between 66 and 90.
New rate of return
3.00%
X
Input Error: Rate of Return
Enter a value between and %.
Change the rate of return again?
Change Rate of Return?
Click Yes if you want to change the rate of return one more time.
Change the return at age
85
X
Input Error: Change Rate of Return at Age
Enter a value between and
New rate of return
2.00%
X
Input Error: Rate of Return
Enter a value between and %




Retirement Income
Include incomes for a spouse/partner?
Client first name
Jack
Partner first name
Jillian
Partner's current age
35
X
Input Error: Partner's Age
Partner age must be less than or equal to the client age (enter the older spouse as the client).
CPP and OAS Benefits
CPP (Canada Pension Plan)
Government Pensions
The maximum annual CPP retirement benefit is $ as of .
Jillian
Are you currently receiving CPP
Annual CPP amount being received
13,855
13,855
What percent of maximum CPP do you qualify for?
100.00%
100.00%
Adjusted annual CPP amount (today's $'s)
13,855
13,855
Start receiving at age
65
65
X
Input Error: Start Receiving at Age
Enter an age between 60 and 70.
Inflated CPP amount at start age
25,096
25,096
OAS (Old Age Security)
Old Age Security
The maximum annual OAS retirement benefit is $ as of .
Are you currently receiving OAS?
Annual OAS amount being received
7,217
7,217
What percent of maximum OAS do you qualify for?
100.00%
100.00%
Adjusted annual OAS amount (today's $'s)
7,217
7,217
Defer receiving OAS for how many years?
0
0
X
Input Error: Defer receiving OAS for how many years
Enter a value between 0 and 5.
Inflated OAS amount at start age
13,073
13,073
Index CPP and OAS benefits to inflation rate of
2.00%
Pension Income
Amount Indexed at Start Age End Age
Pension 1
0
0.00%
66
90
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Pension 2
0
0.00%
66
90
Pension 3
0
0.00%
66
90

Amount Indexed at Start Age End Age
Pension 1
0
0.00%
66
90
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Pension 2
0
0.00%
66
90
Pension 3
0
0.00%
66
90

Other Income
Amount Indexed at Start Age End Age
Other Income 1
0
0.00%
66
90
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Other Income 2
0
0.00%
66
90
Other Income 2
0
0.00%
66
90

Amount Indexed at Start Age End Age
Other Income 1
0
0.00%
66
90
X
Input Error: Start Age
Enter a value between and .
X
Input Error: End Age
Enter a value between and .
X
Input Error: Indexed At
Enter a value between and %.
Other Income 2
0
0.00%
66
90
Other Income 2
0
0.00%
66
90

Inflate income amounts between now and the Start Ages entered above?

Results

Adjust Your Plan:
Retirement Age
65
Adjust Retirement Age
If you adjust the retirement age down and then up again, you may need to adjust the End Age values in the Investment and Retirement Income sections.
% Income Needed At Retirement
75.00%
Annual Investment
5,000
Rate of Return (Before Retirement)
6.00%
Rate of Return (During Retirement)
4.00%
Summary Chart
Investment Chart
$16,000
$12,000
$8,000
$4,000
$0
You Will Have
You Will Need


Accumulation Table
Distribution Table


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