Retirement Planner
Grow your savings to retirement, then spend them down year by year net of CPP and OAS — and find out the exact age your money runs out, or that it lasts comfortably past 95.
Portfolio balance by age
Balance from today through age 95 — climbing while you save, falling once you draw down.
Where your retirement income comes from
Each retirement year's spending, split between CPP, OAS, and portfolio withdrawals.
Year-by-year plan
Every year from retirement to 95. The highlighted row is when the portfolio is exhausted.
| Age | Start balance | Spending | CPP | OAS | From portfolio | End balance |
|---|
How this is calculated
Two phases, in nominal dollars
The model runs in future (nominal) dollars for accuracy and offers a today's-dollars toggle for interpretation. Accumulation (now → retirement) compounds your current savings and monthly contributions: balance each month becomes balance × (1 + r_m) + contribution, where r_m = (1 + return)^(1/12) − 1. Drawdown (retirement → age 95) runs one year at a time.
Drawdown each year
Desired spending is inflated from today's dollars to that year: spend₀ × 12 × (1 + inflation)^(age − currentAge). From it we subtract government benefits, then withdraw the shortfall from the portfolio and grow the remainder at your post-retirement return. When the balance hits zero, that's the age your money runs out.
CPP & OAS (indexed)
CPP uses the July–September 2026 figures — average $877.01/mo or maximum $1,507.65/mo at 65 — adjusted for your start age: −0.6%/month before 65 (−36% at 60) and +0.7%/month after 65 (+42% at 70). OAS is $751.97/mo at 65–74 and $827.17/mo from 75 (the automatic 10% boost). Both are indexed to inflation each year. If income exceeds the OAS recovery threshold (about $93,454, indexed), OAS is reduced 15% of the excess — a simplification of the real clawback, which is based on prior-year net income.
Extra savings to reach 95
If your money runs out early, the tool solves for the additional monthly contribution that makes the portfolio last to 95, by bisection — re-running the whole two-phase model until it just survives. That is the honest number to close the gap, not a rule-of-thumb multiple.
FP Canada assumptions
Default returns and 2.1% inflation follow the FP Canada 2026 Projection Assumption Guidelines (60/40 balanced ≈ 5.2% nominal). Defaults are conservative and fully editable.
What this doesn't model
Sequence-of-returns risk: real markets don't return a smooth average — a crash in your first few retirement years is far more damaging than the same crash later, and a fixed return can't show that. It also omits income tax on RRSP/RRIF withdrawals (TFSA withdrawals are tax-free), RRIF minimum withdrawals, GIS, spousal splitting, and one-off events. Pair it with the RRSP vs TFSA tool and the income tax calculator for the fuller picture. Rules verified July 2026.