Retirement Readiness Calculator

Retirement Savings Calculator
Embed

YesNo
Full Name
What do you need help with?*

When can I retire?How much money do I need to retire?How much will I have when I retire?How much do I need to save to retire on time?Other
How old are you?*
At what age do you plan to retire?*
What is your current annual income?*
How much do you save each year?*
Do you have a pension plan that you want to include?*

YesNo
How much is your estimated annual pension benefit?
Do you want to include Canadian retirement benefits in your calculation?*

YesNo
Which benefits?

Old Age Security (OAS)Canadian Pension Plan (CPP)
Need Additional Information?

1. Old Age Security (OAS)

Summary:

Your Old Age Security (OAS) pension amount is determined by how long you have lived in Canada after the age of 18. It is considered taxable income and is subject to a recovery tax if your individual net annual income is higher than the net world income threshold set for the year ($77, 580 for 2019).

Subsequent to the increase in the Consumer Price Index, OAS benefit amounts will increase by 0.1% for the October to December 2020 quarter.

* As of January 2020, the maximum annual OAS for a 65 year old is $7362.36

2. Canada Pension Plan (CPP)

Summary:

The Canada Pension Plan (CPP) retirement pension is a monthly, taxable benefit that replaces part of your income when you retire. If you qualify, you’ll receive the CPP retirement pension for the rest of your life. To qualify you must:
1. be at least 60 years old
2. have made at least one valid contribution to the CPP
Valid contributions to CPP can be either from work you did in Canada, or as the result of receiving credits from a former spouse or former common-law partner at the end of the relationship.

* As of January 2020, the average CPP recipient would receive $8524.92 per year. The maximum annual CPP benefit at age 65 is $14,109.96.
How much is your annual estimated OAS benefit?
How much is your annual estimated CPP benefit?
As of January 1 2020, the Maximum OAS for a 65 year is:
As of January 1 2020, the average CPP recipient would receive:
As of January 1 2020, the maximum CPP benefit at age 65 is:
Annual Canadian Retirement Benefits
How much do you currently have saved?*
What percentage of your income would you like to replace in retirement?*
Which best describes you?*

I like to take as little risk as possible even if it means a lower return.I am ok with assuming a moderate amount of risk for a higher return.I will take as much risk as possible for the chance at achieving the highest return possible.
Years Until Retirement
Years In Retirement
Inflation
1+Inflation
1+Inflation^Years To Retirement
Growth
1+Growth
1/1+Growth
1+Growth^Years To Retirement
Growth/((1+Growth^Years To Retirement) -1)
Growth/(1-(1+Growth^-Years To Retirement))
1+Growth^-Years In Retirement
IAR
1+IAR
1/1+IAR
1+IAR^Years In Retirement
1+IAR^-Years In Retirement
Retirement Income Needed in Today's Dollars
Retirement Income in Future Dollars
Growth of Annual Savings
*Savings At Retirement*
*Amount Needed at Retirement*
*Shortage*
*Additional Lump Sum Needed Today*
*Maximum Annual Payment*
*Decrease Retirement Expenses By %*
IAR*Savings At Retirement
*Additional Annual Savings*
B-A
Annual Savings Needed A
Annual Savings Needed B
*How Long Will Funds Last*
*Work More Years*
(((PV/PMT)+1)*IAR)+1
-Ln(^) A
Log 1+IAR B
Inflation Output
Growth Output
Track
Over
Over 2
Shortage Output
Suggestion1
Suggestion2
Suggestion3
Suggestion4
Percent
YOUR RESULTS

	{percent}% Funded

Estimated Amount Needed At Retirement:		{amountNeeded162}
Estimated Amount You Will Have At Retirement:		{savingsAt150}
{over2} Goal By:		{shortageOutput}

Suggested Actions:

{suggestion1}
{suggestion2}
{suggestion3}
{suggestion4}

	{percent}% Funded

Estimated Amount Needed At Retirement:		Available via PDF
Estimated Amount You Will Have At Retirement:		Available via PDF
{over2} Goal By:		Available via PDF

Suggested Actions:
Available via PDF

Submit now to receive your full report, including 4 suggestions to improve your results today.
First Name*
Email*
example@example.com
Should be Empty:

Retirement Savings Calculator

YOUR RESULTS