Retirement planning
Retirement Savings
- Estimated savings needed at retirement
- $1,290,716
- Projected savings with your current monthly saving
- $947,254
- Amount below your retirement savings target
- $343,462
- Yearly income needed from savings, at today's prices
- $35,000
The target line shows the estimated savings needed when retirement begins. It is not a separate target for each year.
The target shows the estimated savings needed when retirement begins. It is not a separate savings target for each year. Values are before tax and do not include contribution-room limits.
Your estimate: Current age: 40 years · Retirement age: 65 years · Age when this plan ends: 95 years · Current retirement savings: $150,000 CAD. All inputs, results, yearly tables and sources follow.
These estimates are for learning and planning, not investment, insurance or tax advice. All amounts are in Canadian dollars. Results are rounded and are not guaranteed.
Your inputs
These are the exact entries used for this calculation. Money amounts keep all the decimal places you entered.
- Current age
- 40 years
- Retirement age
- 65 years
- Age when this plan ends
- 95 years
- Current retirement savings
- $150,000 CAD
- Amount you save each month
- $750 CAD
- Yearly retirement income needed before tax
- $60,000 CAD
- Yearly CPP, OAS and other pension income
- $25,000 CAD
- Yearly investment return before retirement
- 5 %
- Yearly investment return during retirement
- 4 %
- Yearly inflation rate
- 2 %
- Savings you want left when the plan ends
- $0 CAD
Complete result summary
Total estimated saving needed each month: $1,336
- Estimated savings needed at retirement
- $1,290,716
- Projected savings with your current monthly saving
- $947,254
- Amount below your retirement savings target
- $343,462
- Yearly income needed from savings, at today's prices
- $35,000
Canadian planning models · 09653a0 · Report format 2026-10-15. All assumptions and sources are included below.
Yearly estimates · Canadian dollars
| Year | Balance |
|---|---|
| Year 0 · age 40 | 150,000 |
| Year 1 · age 41 | 166,704.43 |
| Year 2 · age 42 | 184,244.09 |
| Year 3 · age 43 | 202,660.73 |
| Year 4 · age 44 | 221,998.19 |
| Year 5 · age 45 | 242,302.54 |
| Year 6 · age 46 | 263,622.1 |
| Year 7 · age 47 | 286,007.64 |
| Year 8 · age 48 | 309,512.45 |
| Year 9 · age 49 | 334,192.51 |
Yearly estimates · Canadian dollars
| Year | Balance |
|---|---|
| Year 10 · age 50 | 360,106.56 |
| Year 11 · age 51 | 387,316.33 |
| Year 12 · age 52 | 415,886.58 |
| Year 13 · age 53 | 445,885.34 |
| Year 14 · age 54 | 477,384.04 |
| Year 15 · age 55 | 510,457.67 |
| Year 16 · age 56 | 545,184.99 |
| Year 17 · age 57 | 581,648.67 |
| Year 18 · age 58 | 619,935.54 |
| Year 19 · age 59 | 660,136.75 |
Yearly estimates · Canadian dollars
| Year | Balance |
|---|---|
| Year 20 · age 60 | 702,348.02 |
| Year 21 · age 61 | 746,669.85 |
| Year 22 · age 62 | 793,207.78 |
| Year 23 · age 63 | 842,072.6 |
| Year 24 · age 64 | 893,380.67 |
| Year 25 · age 65 | 947,254.13 |
What this assumes
All amounts are before tax. Enter retirement income and the savings you want left using today's prices. Income needs and pension income rise with inflation.
Monthly savings deposits stay the same until retirement. Deposits and withdrawals happen at the end of each month. Retirement spending rises once a year.
The savings target includes inflation up to retirement. The savings you want left are measured when the plan ends. The plan covers retirement up to, but not including, the ending age. Taxes, account rules and changing investment returns are not included.
The savings target is before tax and does not include account contribution limits. Monthly savings deposits are added at month end. Pension payments begin when retirement starts; use Account Drawdown for different start ages. The monthly saving result is the total amount needed, not an extra amount on top of what you already save.
The calculator uses fixed yearly investment returns after fees. This is an example, not a forecast. Actual returns vary; losses, especially early in retirement, can greatly change the result. Amounts are in Canadian dollars and rounded for display.
These estimates are for learning and planning, not investment, insurance or tax advice. All amounts are in Canadian dollars. Results are rounded and are not guaranteed.