You could spend $5,880 a month, for life.
After tax, in today’s dollars, with CPP, OAS and your pension. That’s the most you could spend and still have savings last to 95 in 85 of 100 market runs.
Assumes 6% a year on retirement savings and 2.5% inflation, shown in today’s dollars. An estimate, not financial advice.
That answer is for an example retiree. Tap any underlined answer to make it yours.
I’m and retired in , with saved and a pension of a month. Before retiring I earned a year, my CPP starts at , and I’d like to leave .
Free. Your answers come with you.
What raises your paycheck
Ranked for your numbers. Each one is a full rerun of your plan.
Start CPP at 70
CPP pays more for life for each year you wait. Your savings cover the years before it starts.
+$170 a monthSpend 20% less from 75
Most retirees spend more early on and less later. Planning for it raises what you could spend now.
+$740 a monthPlan to age 100
Lower, but you’re covered if you outlive the averages.
−$210 a month
Where each month’s $5,880 comes from
Government benefits, your pension and your savings. Change an answer above and this changes with it.
Day 18 of 31Example month
Before tax. About $1,240 a month of it goes to tax this year.
| Age | Benefits and pension | From savings | Balance |
|---|---|---|---|
| 63, today | $18K | $67K | $989K |
| 65 | $45K | $41K | $939K |
| 70 | $45K | $41K | $877K |
| 75 | $46K | $40K | $803K |
| 80 | $46K | $40K | $719K |
| 85 | $46K | $30K | $670K |
| 90 | $46K | $28K | $624K |
| 95 | $46K | $28K | $584K |
The plan at average returns, year by year, in today’s dollars, before tax: the same rows as the app’s table. The odds above come from the market runs, not from these rows.
What you leave behind
Set an amount to leave in your answers above and the headline counts it.
In today’s dollars. Your home isn’t counted here.
The app works the estate out properly
- The estate after tax (Pro)Registered money is taxed as income in the year of death unless it rolls to a spouse, while tax-free accounts pass untaxed. The app works out the bill, account by account.
- A withdrawal order for a bigger estateWhich accounts you draw first changes what your heirs get. Set your own draw order, or let the optimizer (Pro) search for it with its Maximize Estate setting.
- Wills and beneficiariesThe Family tab keeps a checklist for your will, powers of attorney and beneficiary designations.
- The estate after tax (Pro)Most heirs must empty an inherited traditional account within 10 years and pay tax on it, while Roth money passes tax-free. The app works out the bill, account by account.
- A withdrawal order for a bigger estateWhich accounts you draw first changes what your heirs get. Set your own draw order, or let the optimizer (Pro) search for it with its Maximize Estate setting.
- Wills and beneficiariesThe Family tab keeps a checklist for your will, powers of attorney and beneficiary designations.
Still working? Find the year you could retire. The same plan carries you through retirement when you get there.