*Your calculation includes an assumed amount for Canada Pension Plan (CPP)/ Quebec Pension Plan (QPP) and Old Age Security (OAS).
Raising your registered retirement savings contribution to $1,400/month will increase your total retirement savings to $2,556,771.
Congratulations! By saving $1,400/month, you will reach your retirement savings goal and have $2,556,771 left over.
Changing the amount you're saving per month to $1,450 will change your total retirement savings to $2,640,044 with a surplus of $2,640,044.
Based on what you’ve told us about yourself, you might find these helpful...
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The expected annual retirement income of $x is close to the estimated amount you would receive from the Canada Pension Plan (CPP) and Old Age Security (OAS). However, this may not be enough to meet your retirement needs.
Increase How much you'll need in retirement (annually) to a value that will comfortably provide you with enough income in retirement.
Because living expenses are usually lower in retirement, 60-80% of your pre-retirement income may be enough to live on depending on your desired lifestyle in retirement. To see how much you might need, complete the calculator below.