Financial Tools
Retirement Calculator
Enter a few numbers to see an illustrative estimate of your retirement savings, potential retirement income, and whether that's tracking toward the income you'd like.
This calculator projects your current savings and contributions forward to your retirement age, then estimates a rough annual retirement income from that balance. It is a starting point for a conversation, not a personalized retirement plan.
Your Retirement Numbers
How This Is Calculated
Your current savings and monthly contributions are compounded at your assumed annual return until your retirement age to produce an estimated retirement savings balance. That balance is then converted to an estimated annual retirement income using a simplified 4% illustrative withdrawal rate. Your desired retirement income is adjusted for inflation over the years until retirement so it can be compared in the same future dollars — the difference is shown as an estimated shortfall or surplus.
Assumptions
- Returns and inflation are assumed to be constant every year, which real markets and prices never are.
- The 4% withdrawal estimate is a common illustrative simplification, not a guarantee your savings will last.
- Government benefits (CPP/OAS), pensions, and taxes on retirement income are not included.
- Contributions are assumed to happen consistently every month until retirement.
Illustration only. Actual results will vary due to investment returns, inflation, taxes, fees, contribution timing, and other factors. This tool is for educational and illustrative purposes only and does not represent financial, investment, tax, or legal advice.
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Want to talk through a possible shortfall or surplus?
A short conversation can connect this estimate to your actual savings, pensions, debt, and protection needs.
Related: RRSP Calculator · TFSA Calculator · Retirement & Investment Planning