Retirement Savings Calculator Canada
Project your savings forward to retirement and see the result in both future dollars and today’s purchasing power. Adjust the return and inflation assumptions to test how much your plan depends on them.
Using your saved retirement profile
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How the projection works
Each year your balance grows at your assumed return and you add your annual contribution. Over many years compounding does most of the heavy lifting. Because a dollar decades from now buys less than a dollar today, the calculator also shows the result in today’s dollars, discounted by your inflation assumption.
The 4% target
To sanity-check whether you’re on track, the calculator shows a “4% rule” target: the nest egg that would support a given annual income at a 4% withdrawal rate. It’s a rule of thumb, not a promise — but it’s a quick way to see whether your projected savings are in the right ballpark.
Remember CPP and OAS
In Canada your savings don’t have to cover everything. CPP and OAS provide lifelong income, so the amount your personal savings must generate is your income goal minus those benefits. That often makes the savings target more achievable than headline numbers suggest.
Frequently asked questions
How much do I need to retire in Canada?
There's no single number — it depends on the income you want, your other sources (CPP, OAS, pensions), and how long your retirement lasts. A common rule of thumb is the 4% rule: multiply the annual income you want from savings by 25 (i.e., divide by 4%). For $40,000/year from savings, that's roughly $1 million. But in Canada, CPP and OAS cover part of your income, so your savings target is often lower than U.S.-based rules suggest.
What is the difference between nominal and today's dollars?
Nominal is the raw future dollar figure; today's dollars adjust that back for inflation so you can judge its real purchasing power. $1,000,000 in 20 years sounds like a lot, but at 2% inflation it buys what about $673,000 buys today. This calculator shows both, because the nominal number alone can be misleading when planning decades ahead.
What return and inflation rate should I assume?
That's your call — and the point of the calculator is to test different assumptions rather than trust one. Historically, a balanced portfolio has returned somewhere in the mid-single digits after fees, and Canadian inflation has averaged around 2%. Conservative planners use lower return and higher inflation assumptions to avoid over-optimism. Try a range and see how much your outcome depends on these numbers.
Does this include CPP and OAS?
No — this tool projects your personal savings only. CPP and OAS are separate lifelong income streams that reduce how much you need from savings. Use our CPP and OAS calculators to estimate those, then subtract them from your income goal to find how much your savings actually need to provide.
What is the 4% safe withdrawal rule?
It's a guideline that withdrawing about 4% of your savings in year one (adjusted for inflation after) has historically lasted around 30 years. To work backwards to a target: divide the annual income you want from savings by 4%. It's a rule of thumb based on historical U.S. data, not a guarantee — but it's a useful sanity check on whether your savings target is realistic.