Saturday, November 7, 2009, 2:21PM ET - Canadian Markets Closed.

Retirement

When Should I Begin Saving For Retirement?

A penny saved is a penny earned, but a penny saved today is a penny earning more. Use this calculator to determine how much more you could accumulate at retirement by beginning your savings plan today rather than waiting.

Savings and Assumptions	Input
Current age	(1-99)
Anticipated retirement age	(1-99)
Annual savings amount	(0-9999999)$
Annual saving increases: (%)	(0-10)%
Before-tax return on savings: (%)	(0-12)%
Marginal tax bracket: (%)	(0-50)%
Compounding/savings frequency	WeeklyBi-WeeklySemi-MonthlyMonthlyAnnually

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Savings and Assumptions	Input
Current age
Anticipated retirement age
Annual savings amount
Annual saving increases: (%)
Before-tax return on savings: (%)
Marginal tax bracket: (%)
Compounding/savings frequency

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{ "fields" : { "udata" : [ "currentAge" , "retirementAge" , "annualSavings" , "savingIncreases" , "beforeTaxReturn" , "taxBracket" , "compounding" ] } }

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This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

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Rates

Rates provided by

• Mortgages

  Mortgages Type	Rate
  1-yr Closed	3.59%
  3-yr Closed	4.22%
  5-yr Closed	5.07%

• GICs

  GICs Type	Rate
  1-yr Annual	0.98%
  3-yr Annual	2.16%
  5-yr Annual	2.80%

• RRSP

  RRSP Type	Rate
  1-yr	0.97%
  3-yr	2.13%
  5-yr	2.78%

View rates in your area

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