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Retirement cash flow planner

This worksheet tests the feasibility of your retirement plans, based on initial estimates, and actual data you gather from year to year. Once you set up the worksheet, update it every year to refine your plan.

HOW TO USE THIS PLANNER Learn more

First-time use
Figure out how much (if any) money you'll get yearly from your company pension, government benefits such as CPP and OAS, and other
Step 1 income. Government benefits (CPP, OAS, GIS)
Step 2 Estimate how much you think you'll spend in retirement each year. Retirement budget worksheet
Subtract your expenses (step 2) from your income (step 1). Any shortfall is the amount you'll need to take from your investments each year.
Step 3 Enter this number in cell F30.
Add up the total value of your retirement accounts, including registered accounts, TFSAs and non-registered accounts. Use this number to
Step 4 estimate what these investments will be worth at retirement. Enter this number in cell F28. Ways to save for retirement
Step 5 Estimate the average inflation over the course of your retirement. Enter this number in cell F26. Bank of Canada - Inflation
Step 6 Estimate the average expected returns for your investments over the course of your retirement. Enter this number in cell F27. Understanding the risk-return relationship
Step 7 Enter the year you will retire in cell F29. Retirement lifestyle quiz
Step 8 Enter your age on December 31 of the year you retire in cell F31.
Using this spreadsheet year after year
After each year ends, review and adjust columns D, E and G to reflect what actually happened that year. Data for future years will adjust based on the
numbers you input. Tracking your returns
If you have any windfalls, or large expenses, account for them in Column H. Plan for emergencies
As you input numbers over time, you may want to adjust the initial values for inflation (cell F26) and investment return (cell F27) to more accurately
forecast your future plans based on your performance to date.
About the results
Column J shows your average performance over time, and and smooths out the market's shorter-term ups and downs. 3 reasons to keep track
Column K reflects the percentage of your investments withdrawn each year.

Pay attention to Column I - when the value in this column is negative, you'll be out of money.

INITIAL VALUES*
Estimated average annual rate of inflation 2.25%
Estimated average annual rate of investment return 5.22%
Initial investment value at retirement $ 100,000
First year of retirement 2033
Planned annual withdrawal $ 10,000
Age at end of first year of retirement 65
*For example purposes only. Adjust these to fit your own situation.
 Change in
investment Rate of Special Annual
Calendar Retirement Investment value at value by end return on Routine deposit deposit or Investment value at Cumulative withdrawal
Age Year year start of year of year investments or withdrawal withdrawal end of year performance percentage Notes
65 2033 1 $ 100,000 $ 5,220 5.22% $ (10,000) $ 95,220 5.22% -10.0%
66 2034 2 $ 95,220 $ 4,970 5.22% $ (10,225) $ 89,965 5.22% -10.7%
67 2035 3 $ 89,965 $ 4,696 5.22% $ (10,455) $ 84,207 5.22% -11.6%
68 2036 4 $ 84,207 $ 4,396 5.22% $ (10,690) $ 77,912 5.22% -12.7%
69 2037 5 $ 77,912 $ 4,067 5.22% $ (10,931) $ 71,048 5.22% -14.0%
70 2038 6 $ 71,048 $ 3,709 5.22% $ (11,177) $ 63,580 5.22% -15.7%
71 2039 7 $ 63,580 $ 3,319 5.22% $ (11,428) $ 55,471 5.22% -18.0%
72 2040 8 $ 55,471 $ 2,896 5.22% $ (11,685) $ 46,681 5.22% -21.1%
73 2041 9 $ 46,681 $ 2,437 5.22% $ (11,948) $ 37,169 5.22% -25.6%
74 2042 10 $ 37,169 $ 1,940 5.22% $ (12,217) $ 26,892 5.22% -32.9%
75 2043 11 $ 26,892 $ 1,404 5.22% $ (12,492) $ 15,804 5.22% -46.5%
76 2044 12 $ 15,804 $ 825 5.22% $ (12,773) $ 3,856 5.22% -80.8%
77 2045 13 $ 3,856 $ 201 5.22% $ (13,060) $ (9,003) 5.22% -338.7%
78 2046 14 $ (9,003) $ (470) 5.22% $ (13,354) $ (22,828) 5.22% 148.3%
79 2047 15 $ (22,828) $ (1,192) 5.22% $ (13,655) $ (37,674) 5.22% 59.8%
80 2048 16 $ (37,674) $ (1,967) 5.22% $ (13,962) $ (53,603) 5.22% 37.1%
81 2049 17 $ (53,603) $ (2,798) 5.22% $ (14,276) $ (70,677) 5.22% 26.6%
82 2050 18 $ (70,677) $ (3,689) 5.22% $ (14,597) $ (88,964) 5.22% 20.7%
83 2051 19 $ (88,964) $ (4,644) 5.22% $ (14,926) $ (108,534) 5.22% 16.8%
84 2052 20 $ (108,534) $ (5,665) 5.22% $ (15,262) $ (129,461) 5.22% 14.1%
85 2053 21 $ (129,461) $ (6,758) 5.22% $ (15,605) $ (151,824) 5.22% 12.1%
86 2054 22 $ (151,824) $ (7,925) 5.22% $ (15,956) $ (175,705) 5.22% 10.5%
87 2055 23 $ (175,705) $ (9,172) 5.22% $ (16,315) $ (201,192) 5.22% 9.3%
88 2056 24 $ (201,192) $ (10,502) 5.22% $ (16,682) $ (228,377) 5.22% 8.3%
89 2057 25 $ (228,377) $ (11,921) 5.22% $ (17,058) $ (257,356) 5.22% 7.5%
90 2058 26 $ (257,356) $ (13,434) 5.22% $ (17,441) $ (288,231) 5.22% 6.8%
91 2059 27 $ (288,231) $ (15,046) 5.22% $ (17,834) $ (321,111) 5.22% 6.2%
92 2060 28 $ (321,111) $ (16,762) 5.22% $ (18,235) $ (356,108) 5.22% 5.7%
93 2061 29 $ (356,108) $ (18,589) 5.22% $ (18,645) $ (393,342) 5.22% 5.2%
94 2062 30 $ (393,342) $ (20,532) 5.22% $ (19,065) $ (432,939) 5.22% 4.8%
95 2063 31 $ (432,939) $ (22,599) 5.22% $ (19,494) $ (475,033) 5.22% 4.5%
96 2064 32 $ (475,033) $ (24,797) 5.22% $ (19,933) $ (519,762) 5.22% 4.2%
97 2065 33 $ (519,762) $ (27,132) 5.22% $ (20,381) $ (567,275) 5.22% 3.9%
98 2066 34 $ (567,275) $ (29,612) 5.22% $ (20,840) $ (617,726) 5.22% 3.7%
99 2067 35 $ (617,726) $ (32,245) 5.22% $ (21,308) $ (671,280) 5.22% 3.4%
100 2068 36 $ (671,280) $ (35,041) 5.22% $ (21,788) $ (728,108) 5.22% 3.2%
101 2069 37 $ (728,108) $ (38,007) 5.22% $ (22,278) $ (788,394) 5.22% 3.1%
102 2070 38 $ (788,394) $ (41,154) 5.22% $ (22,779) $ (852,327) 5.22% 2.9%
103 2071 39 $ (852,327) $ (44,491) 5.22% $ (23,292) $ (920,111) 5.22% 2.7%
104 2072 40 $ (920,111) $ (48,030) 5.22% $ (23,816) $ (991,957) 5.22% 2.6%
105 2073 41 $ (991,957) $ (51,780) 5.22% $ (24,352) $ (1,068,089) 5.22% 2.5%
106 2074 42 $ (1,068,089) $ (55,754) 5.22% $ (24,900) $ (1,148,743) 5.22% 2.3%
107 2075 43 $ (1,148,743) $ (59,964) 5.22% $ (25,460) $ (1,234,167) 5.22% 2.2%
108 2076 44 $ (1,234,167) $ (64,424) 5.22% $ (26,033) $ (1,324,624) 5.22% 2.1%
109 2077 45 $ (1,324,624) $ (69,145) 5.22% $ (26,619) $ (1,420,388) 5.22% 2.0%
110 2078 46 $ (1,420,388) $ (74,144) 5.22% $ (27,218) $ (1,521,749) 5.22% 1.9%
Any results or calculations displayed on this site are made available for information purposes only, and do not constitute financial or legal advice. By using this calculator, you agree to the Investor Education Fund Website and Social
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