Retirement Calculator
See how well your savings plan will meet your income needs in retirement.
Income Need
Current age
Retirement starts at age
Retirement ends at age
Current annual income (maximum value $1 million)
Index income to inflation rate of (maximum value 10%)
How much will you need at retirement?
|
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%
Input Error: Inflation Rate
Enter a value between 0 and 10% |
| Inflated income at retirement |
117,739
|
|
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 |
88,304
|
Retirement Investments
Current value of investments (maximum value $10 million)
Annual investments (maximum value $250,000)
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%
Input Error: Rate of Return
Enter a value between 0 and 16% |
|
4.00%
Input Error: Rate of Return
Enter a value between 0 and 16% |
Retirement Income
Government Pensions
Canada Pension Plan (maximum value $16,375)
Old Age Security* (maximum value $8,560)
Company Pension
Annual pension (in today's dollars) (maximum value $2 million)
Start at age
End at age
Other Income
Annual income (in today's dollars) (maximum value $1 million)
Start at age
End at age
Canada Pension Plan (maximum value $16,375)
|
9,100
Canada Pension Plan
The average annual CPP retirement benefit is $9,100 as of October 2023. The maximum benefit is $16,375 as of January 2024. |
|
8,560
Old Age Security
The maximum annual OAS retirement benefit is $8,560 as of January 2024. |
| Total (in today's dollars) |
17,660
|
Annual pension (in today's dollars) (maximum value $2 million)
|
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 $1 million)
|
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 2.00%. The CPP and OAS benefits start at age 65. Annual investments are made at the end of the year and are not indexed. All calculations are before taxes.
* The OAS clawback is not factored into these calculations. OAS payments are reduced by 15% of every dollar over a net income of $90,997 and fully eliminated when income is over $148,065 (in 2024).
Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus and/or Fund Facts before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. ©Copyright 2024 Ativa Interactive Corp. All rights reserved. Powered by Ativa.com.
CPP, OAS, company pensions and other income are all indexed to the entered inflation rate of 2.00%. The CPP and OAS benefits start at age 65. Annual investments are made at the end of the year and are not indexed. All calculations are before taxes.
* The OAS clawback is not factored into these calculations. OAS payments are reduced by 15% of every dollar over a net income of $90,997 and fully eliminated when income is over $148,065 (in 2024).
Disclaimer
This calculator is for educational purposes only. All charts and illustrations are for illustrative purposes only and are not intended to illustrate the performance of any security or portfolio. You should not rely on the results as an indication of your financial needs and we recommend that you seek your own financial, investment, tax, legal or accounting advice nor shall the information herein be considered as investment advice or as a recommendation to enter into any transaction. Professional advice should be obtained prior to acting on the basis of this information. The deduction of advisory fees, brokerage or other commissions and any other expenses that would have been paid may not be reflected in the calculation results. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus and/or Fund Facts before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. ©Copyright 2024 Ativa Interactive Corp. All rights reserved. Powered by Ativa.com.
