Return on savings:
*Your calculation includes an assumed amount for Canada Pension Plan (CPP)/ Quebec Pension Plan (QPP) and Old Age Security (OAS).
Your retirement savings goal:
Your projected savings:
Information: You still need to save:You have a surplus of:
Raising your registered retirement savings contribution to $1,285/month will increase your total retirement savings to $1,755,834.
Congratulations! By saving $X/month, you will reach your retirement savings goal and have $X left over.
Changing the amount you're saving per month to $1,200/month, lowering/raising your retirement age to 65 years, and lowering/raising your expected retirement income to $40,000, will change your total retirement savings to $X. Compared to your goal, that’s a surplus/shortfall of $X.
Based on what you’ve told us about yourself, you might find these helpful...
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- How much have you really saved for retirement?
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- Looking for guaranteed retirement income? Think about an annuity
Ideas for getting and staying healthy.
More about retirement savings
Other helpful retirement savings resources.
The expected annual retirement income of $x is close to the estimated amount you would receive from the Canada Pension Plan (CPP) and Old Age Security (OAS). However, this may not be enough to meet your retirement needs.
Increase How much you'll need in retirement (annually) to a value that will comfortably provide you with enough income in retirement.
Retirement expense calculatorClose
Because living expenses are usually lower in retirement, 60-80% of your pre-retirement income may be enough to live on depending on your desired lifestyle in retirement. To see how much you might need, complete the calculator below.