Comprehensive, Canada-specific · Three-phase spending model · No login required
Enter numbers only — no $ signs or commas. Commas are added automatically.
Unlike flat-spending models, this calculator recognises that spending naturally evolves across retirement. Set your expected annual spending for each phase.
If your guaranteed income (CPP + OAS + pension) exceeds your spending, you can direct the surplus into tax-advantaged accounts each year.
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What This Tool Does
This calculator projects how long your retirement savings will last based on your income, investments, and spending — specific to Canada. It updates in real time as you change any value. No login, no data stored anywhere.
Step-by-Step Guide
1 · Your Profile
Enter your name (used in the PDF report), age, province, and life expectancy. Life expectancy is a planning horizon — use 90–95 to be conservative. The inflation and investment return sliders have sensible defaults (2.5% / 5%), but adjust them to match your own portfolio mix.
2 · Guaranteed Income
Enter your monthly CPP, OAS, and any workplace pension. Use the CPP and OAS Start Age dropdowns to see how deferring affects your income — the correct government adjustment factors are applied automatically. An OAS clawback warning appears if your income exceeds the 2024 threshold (~$91K).
3 · Investments & Savings
Enter your current balances for RRSP/RRIF, TFSA, and Non-Registered accounts. Add your home value if you plan to factor it into your estate — you can set an annual appreciation rate. A RRIF conversion reminder appears if you are under 71 with RRSP funds.
4 · Retirement Spending (3 Phases)
This calculator uses three phases reflecting how spending actually changes in retirement:
Go-Go (65–75) — active years, highest spending (travel, hobbies, dining)
Slow-Go (75–85) — more home-based, moderate spending
No-Go (85+) — lowest lifestyle spending; add Long-Term Care if applicable
Enter your expected annual spend for each phase. An insight note will appear showing how much Go-Go headroom you have and what it means for your estate.
5 · Spouse / Partner
Toggle on to include your spouse's CPP, OAS, and pension in the household income pool. You can also enable Pension Income Splitting (up to 50%) to reduce your combined tax.
6 · Dependent Adult Child
Toggle on if you provide ongoing financial support to an adult child. Enter the annual amount you contribute and any RDSP contributions. ODSP/disability benefits are shown for reference — adjust your Annual Support figure to reflect any offset. The total cost is inflation-adjusted throughout your retirement.
7 · Pre-Retirement Savings
If you are still working, toggle on "I am still working" and enter your planned retirement age and annual contributions to RRSP, TFSA, and non-registered accounts. The calculator grows your current portfolio with those contributions (plus investment returns) before the retirement projection begins. If you enter a gross employment income, you can also toggle on Reinvest RRSP Tax Refund — the estimated annual refund is automatically redirected into your TFSA first (up to the annual limit), then non-registered.
The Additional Savings During Retirement subsection lets you direct pension or investment income surpluses into your TFSA or non-registered account each year during retirement — useful if your guaranteed income exceeds your spending.
Secondary Property (Investments section)
Toggle on "I own a secondary property" inside the Investments section to model a cottage, rental, or other non-principal-residence property. Enter the current market value, your Adjusted Cost Base (ACB — original purchase price plus improvements), and an annual appreciation rate. At your life expectancy, the calculator estimates the projected value, capital gain (projected value − ACB), applicable inclusion rate (50% for gains up to $250K, 2/3 above — post-2024 Canada rates), the estimated tax owing, and the net value that flows into your estate.
Reading the Results Bar
The sticky bar at the top shows three numbers at all times: Money Lasts Until (age your portfolio reaches zero, or Age X+ if it lasts your full horizon), Max Safe Go-Go Spend (maximum sustainable annual spending in active years), and Est. Estate at Life Exp. (projected portfolio + home + other assets at life expectancy).
The Detailed Analysis Tabs
Income — full breakdown with estimated provincial tax. Projection — portfolio value chart over time with phase shading and milestones (pre-retirement years show as a growing line before spending begins). CPP Deferral — lifetime CPP totals at every start age with break-even points. Scenarios — survival under four return assumptions, plus adjustable Market Crash and High Inflation stress tests showing estate impact. Monte Carlo — runs up to 5,000 simulations with randomised annual returns (Box-Muller normal distribution) to produce a probability-of-success score and fan chart. Adjust the Volatility slider to match your portfolio risk level: ~8% for bonds, ~12% for balanced, ~18% for growth.
Exporting Your Report
Click 📄 Export Report (PDF) at the top to open a print-ready summary in a new tab. Click the blue "Save as PDF" button — on Mac choose "Save as PDF" from the print dialog; on iPhone use the share sheet to "Save to Files".
Important Note
This calculator is for personal planning and educational purposes only. It does not constitute financial, tax, or legal advice. Always consult a licensed financial planner or tax advisor before making major retirement decisions.