How much portfolio do I need to retire at 65 with $60,000 a year?

To safely retire at age 65 and withdraw $60,000 annually, you need a substantial portfolio spread across RRSPs, TFSAs, and Non-Registered accounts. Use our free Retirement Planner to factor in your CPP and OAS payouts, and see exactly how long your money will last.

Age 65 Drawdown Plan

Retiring at Age 65 with a $60,000 Target Income

Calculate if you can retire at age 65 and maintain a $60,000/year lifestyle. Plan your RRSP, TFSA, CPP, and OAS withdrawals with our free drawdown calculator.

Did You Know?

Age 65 is the standard age to start receiving full, unadjusted CPP and OAS benefits, which significantly reduces the pressure on your personal savings.

Retirement Planner

A simplistic asset drawdown simulator. See if your portfolio and government benefits can sustain your target lifestyle.

Plan Details

Include Spouse

Province

Target Annual Income (After-Tax)

End Planning Age

Children (Birth Years)

Used to calculate tax-free Canada Child Benefit (CCB) payouts if you retire early while children are under 18.

Current Age

Current Working Income (Net)

Start Retirement Age

Years in Canada (at 65)

Number of years lived in Canada between age 18 and 65. Used to calculate eligible OAS amount.

Current Assets & Contributions

TFSA Balance

RRSP Balance

LIRA Balance

Joint Non-Registered Balance

Book Value (ACB)

Annual Savings (Until Retirement)

TFSA Savings / Yr

RRSP Savings / Yr

Non-Reg Savings / Yr

Future Income Sources

DB Pension (Annual)

DB Pension Start Age

Expected CPP (Annual)

CPP Start Age

OAS Start Age

Delaying OAS beyond 65 increases your benefit by 0.6% per month (7.2% per year), up to age 70.

Assumptions

Inflation Rate (%)

Est. Real Return (%)

Drawdown Strategy

Retirement Status

Depleted at Age 67

Your assets will run out before your end planning age.

Final Estate Value

$0Nominal

$0Today's $

Projections

View Year-by-Year Breakdown

Cash Flow Table

Age	Total Portfolio	Total Withdrawals	Total Net Inc.	Shortfall
40	$70,000	$0	$60,000	-
41	$71,988	$0	$60,000	-
42	$74,033	$0	$60,000	-
43	$76,136	$0	$60,000	-
44	$78,298	$0	$60,000	-
45	$80,522	$0	$60,000	-
46	$82,809	$0	$60,000	-
47	$85,161	$0	$60,000	-
48	$87,580	$0	$60,000	-
49	$90,068	$0	$60,000	-
50	$92,626	$0	$60,000	-
51	$95,257	$0	$60,000	-
52	$97,963	$0	$60,000	-
53	$100,745	$0	$60,000	-
54	$103,607	$0	$60,000	-
55	$106,549	$0	$60,000	-
56	$109,576	$0	$60,000	-
57	$112,688	$0	$60,000	-
58	$115,889	$0	$60,000	-
59	$119,181	$0	$60,000	-
60	$122,566	$0	$60,000	-
61	$126,047	$0	$60,000	-
62	$129,627	$0	$60,000	-
63	$133,309	$0	$60,000	-
64	$137,096	$0	$60,000	-
65	$76,397	$64,592	$60,000	-
66	$21,070	$57,497	$60,000	-
67	$0	$21,668	$43,597	$16,403
68	$0	$0	$8,835	$51,165
69	$0	$0	$8,835	$51,165
70	$0	$0	$8,835	$51,165
71	$0	$0	$8,835	$51,165
72	$0	$0	$8,835	$51,165
73	$0	$0	$8,835	$51,165
74	$0	$0	$8,835	$51,165
75	$0	$0	$8,835	$51,165
76	$0	$0	$8,835	$51,165
77	$0	$0	$8,835	$51,165
78	$0	$0	$8,835	$51,165
79	$0	$0	$8,835	$51,165
80	$0	$0	$8,835	$51,165
81	$0	$0	$8,835	$51,165
82	$0	$0	$8,835	$51,165
83	$0	$0	$8,835	$51,165
84	$0	$0	$8,835	$51,165
85	$0	$0	$8,835	$51,165
86	$0	$0	$8,835	$51,165
87	$0	$0	$8,835	$51,165
88	$0	$0	$8,835	$51,165
89	$0	$0	$8,835	$51,165
90	$0	$0	$8,835	$51,165

Authoritative Government Resources

CRA: TFSA Rules & Limits

CRA: RRSP Contribution Guidelines

Service Canada: OAS Overview

Service Canada: GIS Benefits

CRA: Spousal RRSP Guidelines