Retirement Drawdown Calculator Canada — How Long Will Savings Last?
Quickly estimate how long a savings balance lasts. This is intentionally savings-only — before tax, CPP/OAS timing, OAS clawback, and retirement-age changes. Use the full lifecycle calculator for the complete Canadian projection.
Using your saved retirement profile
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How drawdown works
Each year you take a withdrawal, and what remains keeps growing at your assumed rate of return. If your withdrawals are larger than the growth, the balance shrinks and eventually runs out; if growth outpaces withdrawals, it can last indefinitely. The calculator does this year by year and tells you how long the money lasts.
Why your assumptions matter
Nobody knows future returns or inflation, which is exactly why a calculator like this is useful: change the return from 4% to 6%, or inflation from 2% to 3%, and you can see how sensitive your plan is. Test a pessimistic case as well as an optimistic one. The result is an estimate based entirely on the numbers you enter — real markets don’t deliver a steady return every year.
The bigger Canadian picture
Remember that your personal savings aren’t your only income. CPP and OAS continue for life, and GIS supports low-income seniors — so “running out” of savings here doesn’t mean zero income. See our CPP, OAS, and GIS tools for those lifelong benefits.
Frequently asked questions
How long will my retirement savings last?
It depends on three things: how much you have, how much you withdraw each year, and the return you earn (less inflation). This calculator runs the year-by-year math: it withdraws your amount, grows what's left at your assumed return, and repeats until the money runs out — showing how many years it lasts. Because real returns vary, treat the result as a planning estimate, not a guarantee.
What is the 4% rule?
The 4% rule is a rule of thumb suggesting that withdrawing about 4% of your savings in the first year of retirement (then adjusting for inflation) has historically lasted around 30 years. It's a starting point, not a guarantee — it was based on U.S. historical data and assumes a balanced portfolio. Lower withdrawal rates last longer; higher rates risk running out. Use the calculator to test your own rate.
Should I include inflation in my drawdown plan?
Yes — inflation is one of the biggest risks to a retirement plan. If you withdraw a fixed dollar amount each year, its purchasing power shrinks over time. This calculator can grow your withdrawal with inflation each year so your spending power stays constant, which is more realistic but depletes the balance faster. The difference between ignoring and including inflation is often several years of how long the money lasts.
Does this account for RRIF minimum withdrawals?
This tool models a chosen withdrawal amount, not the RRIF minimum specifically. If your money is in a RRIF, you must withdraw at least the prescribed minimum each year (which rises with age) — that can force larger withdrawals than you'd otherwise choose. Use our RRIF Minimum Withdrawal calculator to see those required amounts, then model your overall plan here.
Does running out of savings mean running out of income?
Not entirely. Even if personal savings deplete, most Canadian retirees still receive CPP and OAS for life, and low-income seniors may receive GIS — these don't run out. This calculator models your personal savings drawdown only; your government benefits continue separately. That's why many retirees plan to draw down savings faster early in retirement, knowing CPP and OAS provide a lifelong floor.