Projected Retirement Saving Income and Asset Calculator
Manitoba Agriculture, Food and Rural Development
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Projected Retirement Income, Savings & Asset Planner
Printed: 1/12/2016
Birth Year 1960
Age at Planned Retirement 65
Planned Future Pre-tax Retirement Income Per Year (at today's current dollar values):
Period #1 10 years at $50,000
per year.
(Age 65 to 75 years)
Period #2 10 years at $40,000
per year.
(Age 75 to 85 years)
(20 Retirement Years)
Retirement Income Annual Inflation Index Rate 1.84%
Estimated Canada Pension Plan (CPP) $7,500
per year.
1.84% Annual Inflation Index
Estimated Other Pension Plan $0
per year.
1.00% Annual Inflation Index
Current Cash Retirement Savings $250,000 (RRSP, TFSA, or cash assets)
Investment Return (Pre Retirement) 6.50%
Investment Return (Post Retirement) 4.50%
Retirement Savings Analysis
Savings Required at Retirement Age 65 = $711,147
Retirement Savings Value at Age 65 = $440,088
Savings Shortfall at Retirement Age 65 = $271,060
Projected Cash Savings Balance at Age 85 = $0
Retirement Saving Shortfall Planning Options:
#1: Additional Annual Savings Required for 8.98 Years before retirement = $23,172 per year
or
#2: Estimated Annual Payment Required from Farm Assets (eg. land rental or shareholder
loans) for 20 Planned Retirement Years = $20,838 per year
Retirement Saving Required with Delayed Retirement Start Date:
Delay 1 year to Age 66 = $16,506 per year for 9.98 years
Delay 2 years to Age 67 = $11,054 per year for 10.98 years
Delay 5 years to Age 70 = $0 per year for 13.98 years
*** Enter changes to BLUE values only ***
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