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How Long Will My Money Last?

See how long your RRSP, RRIF or savings will last in retirement, and the most you can take each month for it to last.

$

What you have now

$

On top of CPP and OAS

More options· Investment return, inflation and how long it should last
%

A year

%

Withdrawals rise by this

Age

Your money lasts

21 years 7 months

To about age 86, taking $2,000 a month, rising with prices

Most you can take to last to 95
$1,577/mo
The 4% rule would give
$1,333/mo

What this means

To make your money last to age 95, take about $1,577 a month, $423 less than now. The 4% rule is a common starting point: take 4% of your savings in the first year, then raise it with prices.

RRSP and RRIF withdrawals are taxed as income. An RRSP must become a RRIF by the end of the year you turn 71, and a RRIF has a minimum you must take each year.

Next step

Year by year

AgeTaken in the yearLeft
66$24,000$395,355
67$24,600$389,861
68$25,215$383,462
69$25,845$376,094
70$26,492$367,696
71$27,154$358,197
72$27,833$347,526
73$28,528$335,607
74$29,242$322,359
75$29,973$307,699
76$30,722$291,536
77$31,490$273,776
78$32,277$254,320
79$33,084$233,062
80$33,911$209,892
81$34,759$184,693
82$35,628$157,342
83$36,519$127,709
84$37,432$95,656
85$38,368$61,040
86$39,327$23,708
87$24,006$0

Ways to make it last longer

  • Take 10% less ($1,800 a month): lasts 24 years 10 months, to age 89.
  • Earn 1% more a year, for example with lower fees: lasts 24 years 10 months, to age 89.
  • Delay CPP and OAS if you can: both pay more when you start later, up to age 70.
Assumptions in this estimate
  • The return and inflation stay the same every year. Real returns go up and down, and a fall early in retirement makes money run out sooner.
  • Withdrawals are before any tax, and taken at the start of each month.
Spotted a mistake? Tell us

How the calculator works

  1. Savings: what you have in RRSPs, RRIFs, TFSAs and other savings.
  2. Monthly withdrawal: what you’ll take each month on top of CPP and OAS. It rises with inflation each year, so it buys the same.
  3. Result: how long the money lasts, and the most you can take for it to last to the age you choose (95 to start with).

Example

$400,000, taking $2,000 a month from age 65, with a 5% return and 2.5% inflation:

Result
Lasts 21 years 7 months, to 86
Most you can take to last to 95 $1,577 a month
The 4% rule $1,333 a month
Taking 10% less ($1,800) Lasts 24 years 10 months

Making your money last

  • Delay CPP and OAS if you can: both pay more when you start later, up to 70.
  • Take from the right account first: TFSA withdrawals aren’t taxed and don’t affect OAS, so the order you draw from matters.
  • Keep fees low: 1% a year in fees can cut years off how long your money lasts.

Still saving? The RRSP calculator shows what you could have by retirement.

Last updated

Frequently asked questions

How long will $400,000 last in retirement?

Taking $2,000 a month, rising with prices, and earning 5% a year, it lasts about 21 years and 7 months. To make it last 30 years, take about $1,577 a month.

What is the 4% rule?

Take 4% of your savings in the first year of retirement, then raise the amount with prices each year. It comes from US market history, so treat it as a starting point. On $400,000, it’s $16,000 a year, or about $1,333 a month.

Should I count CPP and OAS?

Yes, but not in this calculator. Enter only what you need from your savings on top of CPP, OAS and any workplace pension.

When do I have to start taking money from my RRSP?

Your RRSP must become a RRIF (or buy an annuity) by the end of the year you turn 71. A RRIF has a minimum you must take each year, which rises with age. RRSP and RRIF withdrawals are taxed as income.