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Retirement Investment Calculator

Estimate how investments could grow before retirement and the retirement income they may support. Use this retirement investment calculator to model different retirement scenarios for yourself or your clients.

Client Profile

The ages that frame the projection — when saving stops and how long income needs to last.

The age through which we project retirement income.

Current Investments

Retirement investments already saved — RRSP, TFSA and other retirement accounts.

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$

Investment Assumptions

Average annual returns before and during retirement. Actual investment returns will vary — these are illustrative assumptions, not guarantees.

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Retirement Income Target

How much annual income would the client like to have in retirement?

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Inflation

Used to estimate the future purchasing power of today's retirement income target.

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Other Retirement Income

Optional. Enter estimated annual amounts based on the client's circumstances — this calculator does not independently determine CPP or OAS eligibility or benefit amounts.

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Your projected retirement savings

$2,112,459

projected at retirement • $1,287,609 in today's dollars

Estimated annual retirement income

$74,463/year

Desired annual retirement income

$75,000/year

Estimated annual income gap

$537/year

Based on these assumptions, there's an estimated gap of $537/year between projected and desired retirement income.All figures on this card are shown in today's dollars. Estimates only — actual results will vary.

Projected Portfolio Over Time

Portfolio growth through retirement, then drawdown through the planning age. Values are in future (nominal) dollars.

Portfolio balance grows from $250K at age 40 to a peak of $2.1M at retirement age 65, then draws down to $0 by age 95.

Explore Different Scenarios

Small changes can meaningfully shift the outlook — useful to walk through directly with a client. Higher returns are illustrative, not guaranteed.

Invest an additional $250/month

What if the client invested an extra $250 per month until retirement?

+$6,107/year

vs. estimated income under the current assumptions

Retire 2 years later

What if retirement were delayed to age 67 instead of 65?

+$10,462/year

vs. estimated income under the current assumptions

Earn 7% instead of 6%

What if the assumed pre-retirement return were 7% instead of 6%? Higher returns are not guaranteed.

+$16,197/year

vs. estimated income under the current assumptions

Ready to go beyond the calculator?

Retirement planning is only one part of the client relationship. Budgety helps financial professionals bring client information, financial goals, documents, tasks and planning workflows together in one place.

See Budgety for ProfessionalsBook a Demo

Retirement Investment Calculator

This retirement investment calculator is built for financial professionals — planners, advisors, money coaches, and accountants — who want a fast, transparent way to model a client's retirement outlook. Enter a client's current age, savings, contributions, and return assumptions, and the calculator projects a retirement portfolio and the annual income it could support, compared against the client's desired income. It works equally well as a quick retirement savings calculator, a retirement income calculator, or a full retirement planning calculator, depending on how deep you take the conversation.

How Does a Retirement Investment Calculator Work?

The model works in two phases. During accumulation, current investments and monthly contributions compound at the assumed pre-retirement rate of return, growing the portfolio year over year until retirement age. During retirement, that portfolio is drawn down using an amortizing withdrawal calculation — the same math behind a mortgage payment, run in reverse — so the annual withdrawal is sized to sustain the portfolio from retirement age through the planning age, at the assumed retirement- period return.

Inflation converts between today's dollars and future dollars so a desired income expressed in today's purchasing power can be compared fairly against a portfolio value decades away. Other income — CPP, OAS, employer pensions, and any other source — is added on top of what the investment portfolio alone can support.

How Much Does a Client Need to Retire?

There is no universal retirement number. How much a specific client needs depends on their desired spending, retirement age, existing investments, savings rate, expected investment returns, inflation, longevity, CPP and OAS entitlements, employer pensions, and housing costs or outstanding debt. A retirement investment calculator like this one replaces a generic rule of thumb with a projection built from the client's actual numbers.

Retirement Investment Calculator vs. Retirement Savings Calculator

A retirement savings calculator primarily estimates how much someone could accumulate by a target age. A retirement investment calculator goes further by explicitly modelling investment growth assumptions — rate of return, inflation, and contribution growth — rather than a flat savings rate. A retirement income calculator, in turn, focuses on translating an accumulated portfolio into an ongoing income stream through retirement. This calculator combines all three: it projects the accumulated investment portfolio, models the investment growth behind it, and estimates the retirement income it could support.

Using a Retirement Calculator With Clients

A retirement calculator is most useful as a conversation starter, not a final answer. Use it to establish a baseline projection from the client's current numbers, then test assumptions together — what happens to their retirement income if they save more, retire later, or the market underperforms. The scenario section above is built for exactly this: it recomputes the projected income for three common what-if questions in real time, so you can walk through trade-offs live in a meeting rather than re-running numbers afterward. This calculator does not replace comprehensive financial planning — it's a starting point for identifying whether a deeper planning conversation is needed.

How we calculate your retirement estimateShow

Current savings are projected forward using the expected pre-retirement investment return.

Monthly contributions are compounded monthly until retirement.

Inflation is used to distinguish today's dollars from future dollars throughout.

Retirement income is estimated using an amortizing withdrawal calculation over the years from retirement age through the planning age.

The model assumes a constant average return rather than predicting actual year-by-year market performance.

Actual investment returns vary and are never guaranteed.

CPP, OAS, pensions, taxes, fees, contribution limits, and investment volatility can materially change actual retirement outcomes.

This calculator is for educational and planning purposes only and is not financial, investment, tax or legal advice.

Last reviewed: September 2026.

Frequently Asked Questions

What is a retirement investment calculator?

A retirement investment calculator estimates how current investments and future contributions could grow before retirement, and how that portfolio may translate into retirement income. It combines a retirement savings calculator's accumulation math with an income projection, so you can see both the ending portfolio and the income it could support.

How much money does a person need to retire in Canada?

There is no single retirement number that applies to everyone. The amount depends on desired lifestyle, retirement age, existing savings, ongoing contributions, investment returns, inflation, life expectancy, CPP and OAS, employer pensions, and housing or debt costs. This calculator lets you model a specific client's numbers rather than relying on a generic rule of thumb.

What rate of return should I use for retirement planning?

This calculator defaults to 6% before retirement and 4% during retirement, reflecting a moderate, diversified portfolio — but actual investment returns vary by asset allocation, fees, and market conditions, and are never guaranteed. Adjust both assumptions to match the client's actual risk profile and holdings.

How does inflation affect retirement savings?

Inflation reduces what a fixed dollar amount can buy over time, so a retirement income target expressed in today's dollars needs to grow just to maintain the same purchasing power by retirement. This calculator uses your inflation assumption to translate between today's dollars and future dollars so the two are never mixed.

How much should someone invest each month for retirement?

The right monthly contribution depends on the client's time horizon, existing investments, expected returns, and target retirement income — there is no fixed dollar figure that works for everyone. Use the scenario section to show a client how increasing their monthly contribution changes their projected retirement income.

What is the difference between a retirement investment calculator and a retirement income calculator?

A retirement savings calculator primarily estimates how much someone could accumulate by retirement. A retirement investment calculator also models investment growth assumptions like rate of return and inflation. A retirement income calculator focuses specifically on how an accumulated portfolio may translate into ongoing income. This tool combines all three perspectives in one model.

Does this calculator include CPP and OAS?

You can enter estimated annual CPP, OAS, employer pension, and other retirement income amounts, and they're added to the investment-based income estimate. This calculator does not independently determine CPP or OAS eligibility or calculate personalized benefit amounts — enter your own estimate based on the client's circumstances, or consult Service Canada's official estimator.

How accurate are retirement calculators?

Retirement calculators are illustrative planning tools, not predictions. They use a constant average return rather than modelling actual year-by-year market performance, and they don't account for taxes, fees, contribution limits, or changes in personal circumstances. Results should be treated as a starting point for a planning conversation, not a guarantee.

Can financial advisors use this retirement calculator with clients?

Yes. It's built to be simple enough to run live during a client meeting — enter the client's numbers, discuss the projected income and any gap against their target, and use the scenario section to explore how contributions, retirement timing, or return assumptions change the outlook. It does not replace comprehensive financial planning.

Estimates only. Actual results will vary. This calculator provides illustrative estimates based on the assumptions entered. Actual investment returns, inflation, taxes, fees, government benefits and other factors may differ. Results are for educational and planning purposes only and are not financial, investment, tax or legal advice.