Income Need
Current age
Retirement starts at age
Retirement ends at age
Current annual income (maximum value $250,000)
Index income to inflation rate of (maximum value 5%)
How much will you need at retirement? (maximum value 100%)
|
35
|
|
65
Retirement Starts at Age
If you are already retired, enter the same age as your current age. |
|
90
|
|
65,000
Current Annual Income
Enter your current annual income (before tax). |
|
2.00%
|
| Inflated income at retirement |
$213,267
|
|
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
|
Retirement Investments
Current value of investments (maximum $1,000,000)
Annual investments (maximum $100,000)
Start at age
End at age
Rate of Return on Investments:
Before retirement (maximum value 16%)
During retirement (maximum value 16%)
|
50,000
Current Value of Investments
Enter the combined value of your RRSPs, TFSAs and non-registered investments. |
|
5,000
Annual Investments
Enter the approximate amount you can invest each year. |
|
35
|
|
65
|
Before retirement (maximum value 16%)
|
6.00%
|
|
4.00%
|
Retirement Income
Government Pensions
Company Pension
Annual pension (in today's dollars, maximum value $150,000)
Start at age
End at age
Other Income
Annual income (in today's dollars, maximum value $150,000)
Start at age
End at age
| Canada Pension Plan |
13,610
Government Pensions
The maximum annual CPP retirement benefit is $ as of . |
| Old Age Security |
7,075
Old Age Security
The maximum annual OAS retirement benefit is $ as of . |
| Total (in today's dollars) |
20,685
|
Annual pension (in today's dollars, maximum value $150,000)
|
0
Annual Pension
Enter the approximate amount you will receive from your company's defined benefit pension plan in today's dollars. |
|
65
|
|
90
|
Annual income (in today's dollars, maximum value $150,000)
|
0
Annual Income
Enter any income from part-time work, self-employment or a rental property during retirement. |
|
65
|
|
75
|
Results
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.
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.
