Financial Planning Tool
Retirement Life Expectancy Calculator | How Long Will You Need Income?
The biggest risk in retirement is outliving your money. Estimate how many years you'll spend in retirement to ensure your portfolio lasts as long as you do.
How the retirement horizon is calculated
Your funding horizon is the average remaining life expectancy at the age you plan to retire, from Statistics Canada's 2020–2022 life tables. For example, a Canadian woman who reaches 65 lives on average about another 22 years, and a man who reaches 65 about another 20 years.
Why you should plan beyond the average
An average means a large share of retirees live longer than it, and running out of money late in life is far costlier than leaving some unspent. Financial planners therefore commonly stress-test a retirement plan against living well beyond average life expectancy.
Period life tables also don't build in future declines in death rates, which have historically lengthened lifespans over time. Treat this figure as a floor for planning, not a target.
Sources
- Statistics Canada. Life Tables, Canada, Provinces and Territories, 2020 to 2022. Catalogue 84-537-X.
Results are statistical estimates based on population-level research, not individualized medical advice. Consult a qualified healthcare professional before making health decisions.