Retirement Income

Retirement Income Calculator

Use this calculator to determine how much monthly income your retirement savings may provide you in your retirement. Your annual savings, expected rate of return and your current age all have an impact on your retirement's monthly income. View the full report to see a year-by-year break down of your retirement savings.

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For more information about these these financial calculators please visit: Dinkytown.net Financial Calculators from KJE Computer Solutions, Inc.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

Financial Calculators from
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Retirement Income | Xeva Mortgage

*indicates required.

Retirement income inputs:

Starting Balance:*This entry is required.Enter an amount between $0 and $100,000,000

Annual contributions:*This entry is required.Enter an amount between $0 and $100,000,000

Current age:*This entry is required.Enter an amount between 15 and 90

Age at retirement:*This entry is required.Enter an amount between 10 and 90

Years of retirement:*This entry is required.Enter an amount between 1 and 100

Increase deposits with inflation:

Inflation adjustment check here

Savings is tax-deferred:

Tax deferred check here

Investment returns,taxes and inflation:
7% pre-retirement, 4% in retirement, 2.1% inflation

**FIG_GRAPHTITLE** Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Monthly Income at age KJE1 for KJE2 Years

**FIG_GRAPHTITLE** Line Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Retirement Savings by Year

Definitions

Starting balance

Initial balance that you have in your retirement accounts.

Annual contributions

The amount you will contribute to your retirement savings each year. This calculator assumes that you make your contribution at the beginning of each year. This should reflect the total you save toward your retirement. It should also include any retirement accounts such as an RRSP and any retirement savings in non-retirement accounts. This calculator assumes that you make one annual contribution at the start of each year, and any withdrawals happen once per month at the beginning of each month.

Current age

Your current age.

Age at retirement

Age you wish to retire. This calculator assumes that the year you retire, you do not make any contributions to your retirement savings. For example, if you retire at age 65, your last contribution occurs when you are actually age 64.

Rate of return before retirement

This is the annual rate of return you expect from your retirement savings and investments before taxes. The actual rate of return is largely dependent on the type of investments you select. For example, the total return including dividends of the S&P/TSX Composite Index for the 10 year period from December 31, 2013 through December 31, 2023 was 8.6% (source www.spglobal.com). Savings accounts at a bank or credit union may pay as little as 2% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.

Rate of return during retirement

This is the annual rate of return you expect from your investments during retirement. It is often lower than the return earned before retirement due to more conservative investment choices to help insure a steady flow of income. The actual rate of return is largely dependent on the type of investments you select. For example, the total return including dividends of the S&P/TSX Composite Index for the 10 year period from December 31, 2013 through December 31, 2023 was 8.6% (source www.spglobal.com). Savings accounts at a bank or credit union may pay as little as 2% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.

Current tax rate

Your current marginal tax rate you expect to pay on your taxable investments.

Retirement tax rate

The marginal tax rate you expect to pay on your investments at retirement.

Expected inflation rate

What you expect for the average long-term inflation rate.

Years of retirement

Number of years you expect to live in retirement.

To increase deposits with inflation checkbox

Check this box if you wish to have your annual contribution increased each year to keep up with inflation.

If savings is tax-deferred checkbox

Check this box if your retirement savings is being deposited into a tax-deferred account.

Xeva Mortgage
106-2626 Croydon Drive
Surrey, BC

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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