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RRSP savings calculator
Estimate how much your registered retirement savings plan (RRSP) will be worth at retirement and how much income it will provide each year.

As you get closer to full retirement, your priorities usually shift from growing your money to spending your money. In response, you will need to shift your investment mix from higher- to lower-risk investments to preserve your money and provide income. This will mean there is less chance that your investments will lose money, but they may also yield a lower expected investment return.

When you’re working

When you’re still working, you can take more risk with your money because your income can be used to make up investment losses. As you get closer to retirement, you may want to reduce your risk to protect your savings, so it’s there when you need it.

Amount currently in RRSP accounts: $
Annual rate of return while you’re working:
Enter what you think your average annual rate of return will be while you’re working. This rate of return may change as you approach retirement and your risk tolerance changes. Consider this in
your average.
  %
Contribution amount and frequency:
$
Enter the dollar amount you plan to contribute each period to your RRSP. Learn more about contributing to an RRSP  This link will open in a new window from the Canada Revenue Agency. The contribution frequency is assumed to equal the compounding period, even if you do not make regular contributions.
Current age:
  years
1 71
Number of years until retirement:
You cannot contribute to your RRSP after December 31 in the year you turn 71. Please reduce the number of years until retirement.
  years
1 55

When you’re retired

Once you have fully retired, you can take less risk with your money because you no longer have an income to rely on if your investments lose money.

Estimated number of years in retirement:
 
  years
1 50
Annual rate of return while retired:
Enter what you think your average annual rate of return will be in retirement. When you depend on your savings for income, reducing risks can protect your money, but results in lower average returns.
  %
Calculate

Results

At retirement, your RRSP savings will be worth X, which will provide an annual income of Y over the course of your retirement.

Find out how age, benefits and lifestyle affect how much you need to save. Help us improve this tool
Total RRSP savings at retirement:
Annual income:

Any results or calculations displayed on this site are made available for information purposes only, and do not constitute financial or legal advice. By using this calculator, you agree to the Investor Education Fund Website and Social Media Terms of Use and Privacy Policy.

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