RRSP Calculator

Our free RRSP calculator will help you understand how much you can contribute to your RRSP and how your savings could grow in the future. Start by telling us about your current RRSP contributions.

Area graph depicting sample data
TodayIn 5 years

Our assumptions

We made some assumptions about your situation and market performance. Adjust them to see how they'll affect your results.

The maximum age you are able to contribute to your RRSP is 71

What do you expect your investments to return between now and retirement?

A life expectancy of 95 is a good conservative estimate when it comes to financial planning

What do you expect your investments to return during retirement?

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Save more with a Wealthsimple RRSP

Benefit from a tax-advantaged account and pay a fraction of the fees that mutual fund investors pay.

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How does our RRSP calculator work?

Our RRSP contribution calculator will let you know how much you can contribute to your RRSP. It will also provide an estimate of how much your RRSP will be worth in the future. The calculator takes into account your age, income and RRSP savings. Here are some market assumptions baked into our calculations:

  • An inflation rate of 2% per year.
  • Returns net of 2.14% management fees.

Ready to get started? Here’s how:

  1. 1

    Get to know RRSPs Understand what an RRSP is, what the contribution and deduction limits are and what you should know before withdrawing money.

  2. 2

    Know the fees Fees are like savings termites — they'll chew right through your TFSA money. When you invest with Wealthsimple, we charge a 0.5% management fees when you invest up to $100,000 and 0.4% when you deposit more than $100,000. That's significantly less than the 2% fees paid by traditional mutual fund investors in Canada.

  3. 3

    Open a RRSP There’s no time like the present. If you don’t already have one, open an RRSP and start benefiting from the power of compounding. If you already have an RRSP consider increasing your contributions.

A word of warning

Our RRSP calculator is not financial advice; it is for illustrative purposes only and the results are estimates. The calculator may be a useful tool in helping you estimate how much your RRSP could be worth, but you should understand that it has limitations. For example, the calculator does not anticipate or take into account future changes to government savings programs or tax rates. Also, rates of return on investments may vary.