More saving now
A higher monthly contribution may build more future savings, but leaves less room in today’s budget.
Focused decision guide
How much might I need to save for the retirement income I want?
Start with the monthly retirement costs and income you can roughly estimate. The remaining gap shows the role savings may need to play.
Understand the choice
What changes—and what you give up.
More time
A later retirement date may add contribution years and shorten the period savings need to support.
A different target
A lower retirement-spending estimate reduces the amount savings may need to provide, but describes a different lifestyle.
Before comparing
The assumptions that matter most.
- Your retirement age and planning age
- The monthly retirement costs you enter
- CPP, OAS, pensions and other income
- Current savings, contributions, inflation and the planning return
Test the question
Use the guide with a planning tool.
The comparison works from your existing forecast when one is available. Otherwise, Quick Forecast begins with the next incomplete step.