How much is enough to fund my retirement?

Use this calculator help you determine how long your investment savings might last. Enter your current savings plan in the contributions section of the calculator, and your withdrawal needs in the withdrawal section. This calculator will then plot your investment savings total year-by-year. You can then determine how much your investment savings could be worth, and how long it might last.

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Current age
Your current age.

Starting balance
Total amount that you currently have invested. Include any sources of investment savings such as 401(k)s, IRAs and Annuities that you wish to include in this analysis.

Amount to contribute
This is the amount that you will add to your investment savings. You can add additional amounts weekly, monthly, quarterly or annually. All contributions are assumed to be made at the beginning of each period.

Annual return
This is the annual rate of return you expect from your investments after taxes. When withdrawing, the return earned is often assumed to be lower due to more conservative investment choices to help insure a steady flow of income. The actual rate of return is largely dependent on the type of investments you select. For example, for the last thirty years the average annual rate of return for the TSX is about 10%. Savings accounts at a bank or credit union may pay as little as 2% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.

Years to contribute
This this is the number of years you will be adding new money to your investment savings. If you wish to start withdrawals immediately, enter 0 for the years to contribute.

Inflation rate
What you expect for the average long-term inflation rate.

Inflation adjustments and your contributions
To keep your periodic contributions at the same level choose the option "No adjustment for inflation". If you select "Adjust contributions annually for inflation" we will increase your periodic contribution at the end of each year by the rate of inflation.

Amount to withdraw
This is the amount that you expect to be withdrawing from your investment savings. You can make withdrawals weekly, monthly, quarterly or annually. All withdrawals are assumed to be taken at the beginning of each period. If you choose the option to "Calculate maximum withdrawal" this field will be calculated.

Withdrawals to last
This is the number of years that your withdrawals are to last. If you choose the option to "Calculate time balance will last" this field will be calculated.

Inflation adjustments and your withdrawals
These selections allow you to adjust your withdrawals for inflation. If you choose "No adjustment for inflation" your withdrawal will remain at a constant amount for the entire duration of your withdrawals. "Inflation adjustments begin with withdrawals" will increase your withdrawal amount at the end of each year by the rate of inflation. This begins at end of the first year of withdrawals. "Inflation adjustments begin immediately" will increase the withdrawal amount, that was entered or calculated, by the rate of inflation beginning immediately. Choosing this option helps illustrate the cost of providing a current amount of purchasing power throughout your withdrawals.