Retirement Planner

Retirement Planning Calculator - Step 1 of 3

Trying to estimate what it will take to meet your retirement goals?
This calculator will help you find out:

  1. how much you will need for your retirement
  2. what your retirement income will be, based on your current and planned retirement investments, as well as any other income that you may receive
  3. what you may have to do to meet your retirement goals (if anything)

The calculator has been designed to allow you to try different scenarios, so please feel free to change variables to see how they will impact your goals.

First, the basics


How old are you?


What age would you like to be when you retire?


           The current average retirement age is 65. Of course, with good planning and wise investment decisions, you could retire much earlier!


What annual rate of return do you expect to earn on your investments?


           Your annual rate of return is the percentage return you expect your retirement savings to earn. A good return depends on economic conditions as well as the type of investment you choose. The default shown is 8%, which is considered to be a conservative return over the long haul. (This model assumes annual compounding which may vary depending on your investments.)


What do you expected the annual rate of inflation to be?


            Inflation affects how much money you'll need down the road. If inflation is high, your money will have less buying power, so you'll need more of it. We have used an estimate of 3% as the default average inflation.




President's Choice Financial services are provided by the direct banking division of CIBC. President's Choice Financial MasterCard is provided by President's Choice Bank.