💰 SAVINGS & RETIREMENT · UPDATED 2026

Retirement Savings Goal Calculator

Find out exactly how much you need to retire comfortably in Canada — and whether you're on track. Includes CPP, OAS, inflation, and a precise monthly savings target.

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The most important number in your financial life — your retirement number

Most Canadians have no idea how much they actually need to retire. The common "70% of income" rule is just a starting point. This calculator builds your personalized retirement number using your real income needs, CPP, OAS, and inflation — then tells you exactly what to save each month.

📋 Your Retirement Details

👤 You Today
$
Used to calculate your income replacement target
💰 Your Savings
$
Total RRSP + TFSA + pension + investments today
$
What you currently save each month toward retirement
%
Expected return while saving · Avg ~7% for balanced portfolio
%
Lower rate in retirement (more conservative portfolio)
🎯 Retirement Income Needs
%
Most experts suggest 60–80% of pre-retirement income
Average Canadian: ~83 M / ~86 F · Plan conservatively
%
Bank of Canada target: 2% · Historical avg: 2.5–3%
🏛️ Government Benefits
$
2026 max CPP ≈ $17,400/yr · Avg ~$10,000/yr · Check My Service Canada
$
2026 full OAS ≈ $8,820/yr (age 65) · Enter 0 if retiring before 65

Your Retirement Verdict
$0
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Goal (Nest Egg Needed)
$0
Projected Savings
$0
Years to Retirement
0
Retire In
2026
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To Stay On Track, You Need to Save
$0/month
Required monthly contribution to reach your retirement goal
Nest Egg Needed
$0
At retirement date
Projected Savings
$0
At current savings rate
Annual Income Needed
$0
In today's dollars
Govt. Benefits (CPP+OAS)
$0
Per year in retirement
Portfolio Must Cover
$0
After CPP + OAS
Retirement Duration
0 yrs
Years of retirement income

💰 Your Retirement Income Breakdown

Portfolio Income
$0
From your savings
CPP
$0
Canada Pension Plan
OAS
$0
Old Age Security
Total Annual Income
$0
In retirement (today's $)

📊 Progress Toward Your Goal

0%
$0 today Goal: $0

📈 Savings Growth to Retirement

Projected Balance
Goal

🎭 What If? — Return Rate Scenarios

See how different investment returns change your retirement outlook. Your current assumption is highlighted.

📅 Year-by-Year Savings Growth

Orange = retirement year · Green = goal reached.

Age / Year Contributions Investment Growth Balance % of Goal

💡 Retirement Planning Tips for Canadians

📅 The 4% Rule — Canadian Version

A common retirement rule: withdraw 4% of your portfolio in year one, then adjust for inflation. On a $1M portfolio, that's $40,000/year. CPP + OAS on top of that covers most Canadians comfortably.

🧓 Delay CPP to 70

Every year you delay CPP past 65 permanently increases it by 8.4%. Delaying to 70 gives you 42% more for life. If you have RRSP/TFSA savings to bridge the gap, this is usually the right move.

💰 Max RRSP Then TFSA

If you're in a high tax bracket now, max your RRSP first to get the deduction. Once you expect to be in a lower bracket in retirement, shift contributions to TFSA. Both accounts count toward your retirement number.

🏠 Your Home Is Not a Retirement Plan

Many Canadians count on downsizing to fund retirement — but this assumes the housing market cooperates and ignores the cost of alternative housing. Use liquid investments as your primary plan.