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Retirement Saving Account
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How Much Do You Need to Save for Your Dream Retirement?
Retirement Savings Calculator — calculate savings required to reach retirement goal
This calculator easily answers the question "Given the value of my current investments how much do I need to save each month to reach my retirement goal?"
The user enters their "Current Age", there expected "Retirement Age", the "Annual Interest Rate (ROI)" (annualized Return on Investment one expects to earn) and "Amount Desired At Retirement".
The calculator quickly calculates the required monthly investment amount and creates an investment schedule plus a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
If you need a more advanced "Retirement Calculator" - one that calculates many more unknowns and one that calculates assuming retirement income and not a final lump sum then try the calculator located here: https://AccurateCalculators.com/retirement-calculator
Currency and Date Conventions
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.
- Be a Canadian resident
- Have a social insurance number
- Earn income and file tax return on a yearly basis
- No minimum age but maximum age of 71
RRSP limit is depending on income, and the maximum contribution is 18% of earned income reported on your tax return to a maximum of $26,500 (Changes depending on Canada Review Agency)
Remember that if you receive a company pension plan, the company’s contribution will be counted toward your total contribution room and will reduce your induvial RRSP contribution limit.
- Daily interest Account
- Guaranteed Interest Fund
- Segregated Funds
You ask the question, we will find the answer
Call us at 1-888-461-6120 or schedule a call for a later time.