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Not sure if you are saving enough for your retirement? The CIBC Retirement Calculator will help you find out if your current and planned RRSP contributions, as well as any other pension income you receive, will meet your retirement income goals.
Your goal is to preserve your investment rather than make higher returns.
You accept some risk and volatility for the opportunity for higher long-term returns.
You accept a greater degree of risk and volatility for the opportunity for higher long-term returns.
To make up for the shortfall you can make monthly RRSP or other savings contributions of
To retire when you want, you would need to increase your monthly RRSP contributions and other savings to
To retire when you want, you would need to increase your monthly savings to
Congratulations. You are on track to reach your retirement savings goal.
Congratulations. You have enough sources of income in retirement that you do not need to save more in an RRSP.
Consider the following options for your RRSP savings:
Talk to a CIBC Advisor to put a plan in place to meet your retirement goals. Call 1-866-525-8622 to request an appointment.
Want to take advantage of unused contribution room? Consider an RRSP Maximizer Loan.
Consider the following options to increase your RRSP savings:
If you’ve maximized your RRSP contributions, you can also save outside your RRSP:
Consider saving more to increase your income in retirement:
Review your savings plans for all your needs.
$0 will yield an annual income of $0 over x years.
Regularly investing even small amounts is a great start.
Learn more about retirement planning.
Preparing for the retirement you want (1 MB)
Find out how much your contribution could be worth.
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There’s more than one way to save for retirement.
Get more retirement tools and expert advice.
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PLEASE NOTE: This calculator provides general information only; it does not provide specific tax or retirement planning advice. We recommend that you consult a CIBC advisor when planning for your financial goals. Amounts projected by the calculator are based on the information you enter and a variety of estimates and assumptions. Along with other assumptions, the calculator assumes that any RRSP contribution amount you enter (or that the calculator recommends) is within your RRSP contribution limit. “Retirement income” refers to gross income before taxes. The calculator estimates gross retirement income before taxes. RRSP amounts are subject to tax when withdrawn. Actual earnings and other factors will vary over time. As a result, CIBC cannot guarantee the results. You should repeat the analysis periodically with updated information and when important changes occur in life circumstances, needs or resources.
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