What are you saving for?
Create a personalized savings plan that considers your financial situation and allows you to meet your investment goals.
2. Name your goal
3. How much do you want to save?
We recommend a minimum savings amount of $1,000 for the year and a maximum amount of $5 million to align closer to the goal and time horizon. Please adjust your savings goal amount.4. How much have you already saved?
5. When will you need this money?
What are you saving for?
Choose another goal
Saving for retirement
Our retirement calculator is the best way to learn how much you'll need to save to retire the way you want.
Your Home goal
New Condo
To reach your goal of $50,000 in approximately 5 years, you need to save
This calculator provides general projections of potential savings based on a mathematical calculation and does not consider the impact of tax, inflation or other variables that may affect your savings. The monthly savings amount is rounded to the nearest month and could not exceed the total savings goal amount.
This calculator provides general projections of potential savings based on a mathematical calculation and does not consider the impact of tax, inflation or other variables that may affect your savings. The monthly savings amount is rounded to the nearest month and could not exceed the total savings goal amount.
per month
Reaching your goals
First time home buyer Incentive
This new incentive is helping to soften the blow for the group most affected by high housing prices: First time home buyers.
Learn more
Tax savings
Plan to use your RRSP for a down payment on a house? Find out this will affect your taxes and your RRSP contribution room.
Learn moreThis calculator provides general calculations of hypothetical savings based on the information the user provided in questions 3 to 5. The calculation is a factor of total savings goal minus saved amount, divided by the desired time frame measured in years, months or weeks. It does not consider the impact on savings from tax, inflation or any other variables not included in the questions of this tool that may affect your savings over any given time.
The monthly savings amount is rounded to the nearest month and cannot exceed the total savings goal amount.
Projections are also based on the assumption that you will continue to contribute to your savings goal amount for the time frame indicated.
We recommend that you consult a financial advisor when planning your financial goals.
The maximum savings goal accounted for is $10,000,000, and the minimum is $1,000, to give a reasonable outcome.
Clicking on the + or -minus button adjusts the monthly savings calculation up or down by $50 from its initial calculated savings amount.
The minimum value is limited to $83/month ($1,000/year), or whenever the time variable measured in years reaches 25 years based on the monthly calculation to reach the savings goal (whichever comes first).
The maximum value should be $416,666/month or reaching the savings goal in one year (whichever comes first).
If the above minimum or maximum variables are reached, the + and -minus buttons will become inactive and will no longer be able to adjust the savings amount.