Plan your future with our free Retirement Calculator for Canadians. Estimate how much you’ll need, how long your savings could last, and whether you’re on track. Adjust ages, savings, contributions, investment returns, inflation, and retirement lifestyle spending to see personalized projections with charts and year-by-year breakdowns. Disclaimer: This tool is for illustration purposes only and not financial advice.
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Retirement Calculator
Retirement Calculator (Canada)
Use our free Retirement Calculator to estimate how much you’ll need, how long savings could last, and whether you’re on track. Adjust age, returns, inflation, contributions, and lifestyle spending to see personalized projections, a year-by-year breakdown, and guidance on sustainable withdrawals. Disclaimer: For illustration only — not financial advice. Results vary.
Build Your Retirement Plan
Presets
Your current savings grow at your expected annual return until retirement — contributions grow too.
This is invested money you add each year before retirement.
We inflate spending each year by your inflation setting.
Optional baseline income in retirement; it reduces withdrawals from savings.
Projection assumes end-of-year contributions and withdrawals; compounding is annual.
Your Projections
Balance at Retirement
$0
Retirement Years Covered
0
Final Balance at Life Expectancy
$0
Suggested Sustainable Spending*
$0
Shortfall / Surplus
$0
*First-year nominal spending designed to last to life expectancy (inflation-adjusted thereafter).
Chart: Account balance from now to life expectancy.
Vertical line = retirement age.
Axes: X = Age, Y = Balance (CAD).
| Year | Age | Start Balance | Contrib / Withdrawal | Growth | End Balance |
|---|
Guidance for Your Settings
Enter your details and click Calculate to see personalized guidance.
- Retirement Years Covered shows how many of your retirement years are funded by the chosen spending.
- Suggested Sustainable Spending estimates a first-year spending level that should last to your life expectancy (rising with inflation each year).
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How to Use the Retirement Calculator
- Pick a profile under Presets to auto-fill return, inflation, and spending — or choose “Other” for full control.
- Set ages (current, retirement, life expectancy) with the tap-chips.
- Add money details: current savings (grows at your return), annual contributions (invested until retirement), and optional guaranteed income (CPP/OAS/other).
- Run the model — review KPIs, chart, year-by-year table, and guidance to refine your plan.
- Iterate — test different ages, spending, and returns to cover all retirement years.
Retirement Basics in Canada
Registered Accounts
- RRSP/RRIF: Tax-deferred growth; withdrawals are taxable.
- TFSA: Tax-free growth and withdrawals (within limits).
- Coordinate withdrawal order to manage taxes over time.
Inflation & Returns
- Use long-term return assumptions and monitor fees.
- Inflation reduces purchasing power — plan for rising costs.
Government Benefits
- CPP and OAS provide baseline income; GIS may apply for low income.
- Delaying CPP/OAS can increase payments; weigh longevity risk.
Lifestyle Choices
- Travel, housing, healthcare, and family support drive spending.
- Downsizing or part-time work can extend portfolio longevity.
Retirement Calculator FAQs
Does current savings earn the expected return?
Yes. Both current savings and annual contributions grow at your expected return until retirement; in retirement, the remaining balance continues to grow at that return.
Is spending adjusted for inflation?
Yes. Your spending increases each year by your chosen inflation rate. Sustainable spending is calculated in today’s dollars and then inflated over time.
What does “Retirement Years Covered” mean?
It’s how many retirement years your plan can fund given your inputs. If it’s less than total retirement years, adjust spending, savings, or timing.
How is “Suggested Sustainable Spending” calculated?
We use an annuity-style formula on your balance at retirement, retirement length, and the real return (return minus inflation) to estimate a first-year spending level that should last to your life expectancy.
Can I include CPP and OAS?
Yes. Add an annual amount under “Guaranteed Income” to reduce withdrawals from savings.
Does this include taxes?
No — this version shows pre-tax projections for simplicity. For tax-aware planning, speak with an advisor.
