--- title: "FIRE Calculator Canada: FIRE Number, TFSA, RRSP & Early Retirement" description: "Free FIRE calculator for Canada: your FIRE number, the monthly investment to retire early, your earliest FI age and Coast FIRE, with TFSA, RRSP, CPP and OAS. In C$." canonical: https://mywealthcheck.com/calculators/fire-calculator-canada/ language: en updated: 2026-11-11 publisher: MyWealthCheck (hello@mywealthcheck.com) note: Text copy of the canonical page, generated from the same build. For education only, not investment advice. --- # FIRE calculator for Canada To retire early in Canada you usually need 25 to 33 times your yearly spending at the age you stop working, across your TFSA, RRSP and other accounts. Enter five numbers to see your own FIRE number, the monthly investment that gets you there and your earliest FI age. Everything is in Canadian dollars and runs in your browser. Free · any currency · no sign-up · method last reviewed 11 November 2026 > **Interactive tool.** This part of the page runs in the browser and is not included in this text copy. Open https://mywealthcheck.com/calculators/fire-calculator-canada/ to enter your own numbers. ## Quick answer: what is your FIRE number in Canada? Your FIRE number is the amount invested that can pay your inflation-adjusted living costs from the age you stop working until your plan age (90 or later for early retirement). In Canada it is usually **25 to 33 times your first-year spending at FI**: 25 times is the classic "4% rule" for a 30-year retirement, and a longer early retirement needs nearer 28 to 33 times. For example, C$5,000 a month today is about C$86,900 a year in 15 years at 2.5% inflation, so a FIRE number of roughly C$2.2 to 2.9 million. CPP and OAS reduce what your savings must cover from your 60s. ## How many times your spending do you need? Divide 100 by the share of your money you plan to withdraw in the first year: at 4% that is 25 times your yearly spending. A lower withdrawal rate needs a bigger FIRE number but leaves more margin for a long retirement or a bad start. | Withdrawal rate | Multiple needed | On C$86,900 a year | | --- | --- | --- | | 4% | 25× | C$2.17 million | | 3.5% | 28.6× | C$2.48 million | | 3.25% | 30.8× | C$2.67 million | | 3% | 33.3× | C$2.90 million | The 4% rule comes from US market history for 30-year retirements. For a retirement of 40 years or more, 3 to 3.5% is common. Read [Is the 4% rule safe for early retirement?](https://mywealthcheck.com/blog/4-percent-rule/) for why. ## Which account to draw from first - **Early years: non-registered and RRSP.** With no salary, your tax rate is low, so many early retirees take a steady amount from their RRSP each year, alongside non-registered savings, rather than leaving it to grow into large, heavily taxed RRIF withdrawals later. - **The TFSA as a buffer.** Tax-free withdrawals that don't count as income make the TFSA useful for big one-off costs and for keeping income below the OAS clawback later. - **From 60 to 70: CPP and OAS.** Delaying them raises the payments for life, and your savings cover the years in between. The [full planner](https://mywealthcheck.com/planner/) adds CPP and OAS as income from the ages you choose, so you can see how they change your FIRE number. ## How this FIRE calculator works 1. **Your spending at FI.** Today's monthly spending grows with inflation until your FI age. That gives your first-year spending after you stop working. 2. **Your FIRE number.** We add up every year's spending from your FI age to your plan age, still rising with inflation. Each year's money is assumed to stay invested until it's needed: the next 10 years in bonds and GICs, later years in a mix with more stocks. The total is what you need on day one. 3. **What you already have.** Your current investments, across your TFSA, RRSP and other accounts, grow at the returns you enter. Whatever's left is the gap your monthly investing has to fill. 4. **Monthly investment.** We find the first-year monthly amount that closes the gap, rising by your yearly increase, with stocks reduced gradually as FI gets closer. 5. **Will it last?** We simulate the FIRE number year by year after FI, at expected returns and after a 35% stock crash in the first year. ## How is FIRE different in Canada? - **Your savings aren't locked.** TFSAs and RRSPs can both be drawn at any age, so there is no bridge to fund as in the UK or Australia. Only locked-in accounts (LIRAs) have an access age. - **Tax depends on the account.** Plan the order of withdrawals to keep your yearly taxable income steady and low. - **Health benefits end, health care doesn't.** Provincial plans keep covering doctors and hospitals; drugs, dental and vision become your cost. - **CPP and OAS come later.** CPP can start from 60 and OAS from 65, both higher if you wait. Rules as of November 2026. - **Sequence risk.** A market crash in the first few years after you stop working does the most damage. Keeping several years of spending in bonds and GICs (a bucket strategy) avoids selling stocks at a low. ## Frequently asked questions ### How much money do I need to retire early in Canada? Usually about 25 to 33 times your yearly spending at the age you stop working, across your TFSA, RRSP and non-registered accounts. Start with what you spend today and add inflation: C$5,000 a month today becomes about C$86,900 a year in 15 years at 2.5% inflation, so a FIRE number of roughly C$2.2 to 2.9 million. CPP and OAS lower what you need for the later years. This calculator works out the exact number year by year for your inputs. ### Can I take money out of my RRSP before 65? Yes. Unlike pensions in many countries, an RRSP isn't locked: you can withdraw at any age. Withdrawals are taxed as income, and the bank withholds tax up front (outside Quebec, 10% on up to $5,000, 20% up to $15,000 and 30% above), which is settled when you file your return. Contribution room used for a normal withdrawal doesn't come back. Many early retirees draw on their RRSP in the low-income years before CPP and OAS start. Money in a locked-in account (LIRA) from a former employer's pension is different: it is usually locked until 55, with rules that vary by province. ### TFSA or RRSP for early retirement? Usually both. A TFSA can be drawn at any time tax-free, and the room comes back the next year; the 2026 limit is $7,000, and someone who has been eligible since 2009 has $109,000 of total room. An RRSP gives a deduction now (18% of last year's earned income, up to $33,810 for 2026) and is taxed on the way out, so it works best when your tax rate in retirement will be lower than while working. Withdrawals from a TFSA also don't count as income for OAS and the Guaranteed Income Supplement. ### When should I start CPP if I retire early? You can start CPP at any age from 60 to 70. Starting before 65 cuts it by 0.6% for each month early, 36% at 60; waiting past 65 raises it by 0.7% a month, 42% at 70, and it lasts for life with inflation increases. Your amount depends on your contributions over your career, so years with no earnings after an early retirement lower it, although the lowest-earning years are partly dropped from the calculation. Check your estimate in My Service Canada Account, then add it from your chosen age in the full planner. ### Will I get Old Age Security if I retire early? Yes, if you meet the residence rules: OAS starts at 65 for anyone who has lived in Canada for at least 10 years after 18, with the full amount after 40 years. It isn't based on work history, so retiring early doesn't reduce it. You can delay it up to 70 for 0.6% more per month (36% at 70), and it rises 10% at 75. OAS is clawed back at 15% of net income above $95,323 for 2026 income, which matters if large RRIF withdrawals push your income up. ### How is my investment income taxed in Canada? TFSA withdrawals are tax-free. RRSP and RRIF withdrawals are taxed as income. In a non-registered account, half of a capital gain is taxable, and eligible dividends from Canadian companies get a dividend tax credit, which makes a modest early-retirement income from Canadian shares lightly taxed in most provinces. Drawing a steady amount from your RRSP each year, rather than a large sum later, can keep your tax rate and the OAS clawback low. Enter after-tax returns in the calculator. ### Is the 4% rule safe for a Canadian early retirement? The 4% rule comes from US stock and bond returns for 30-year retirements. For a retirement of 40 to 50 years, many people plan on 3.25 to 3.5% instead, stay willing to spend less after a bad year, or both. The Canadian market is concentrated in banks and energy, so most early retirees diversify globally. Instead of a fixed rule, this calculator sizes your FIRE number so a bucket strategy lasts until your plan age at the returns you enter, and shows what happens if markets crash in your first year. ### What about health coverage if I retire early? Your provincial health plan keeps covering doctor visits and hospital care whether or not you work. What usually ends with your job is extended health coverage: prescription drugs, dental, vision and paramedical services. Budget for an individual health and dental plan or for paying these costs yourself, and check what your province covers for people over 65. ### What returns and inflation should I assume? Use long-run, after-tax returns and stay conservative. The Canadian defaults are 6.5% for stocks, 4% for bonds and GICs, and 2.5% inflation. The Bank of Canada targets 2%, the middle of a 1 to 3% range, but prices have risen faster in some years. Higher return assumptions lower the monthly amount you are shown, but if real returns turn out lower you could fall short. ### Is my data stored anywhere? No. The calculator runs in your browser and your numbers are not sent to any server. The inputs appear in the page address only so you can bookmark or share a result yourself. ## Sources Rules and rates change. Check the current figures with the official source before acting. - [Statistics Canada](https://www.statcan.gc.ca/en/subjects-start/prices_and_price_indexes/consumer_price_indexes): consumer price inflation - [Bank of Canada](https://www.bankofcanada.ca/core-functions/monetary-policy/): 2% inflation target - [Canada Revenue Agency](https://www.canada.ca/en/revenue-agency/services/tax/registered-plans-administrators/pspa/mp-rrsp-dpsp-tfsa-limits-ympe.html): RRSP and TFSA dollar limits - [Canada Revenue Agency](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account.html): TFSA rules - [Canada.ca](https://www.canada.ca/en/services/benefits/publicpensions/cpp/when-start.html): when to start your CPP retirement pension - [Canada.ca](https://www.canada.ca/en/services/benefits/publicpensions/old-age-security.html): Old Age Security, rates and eligibility - [Canada.ca](https://www.canada.ca/en/services/benefits/publicpensions/old-age-security/recovery-tax.html): OAS recovery tax (clawback) - [Canada Revenue Agency](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains.html): capital gains **For education only, not financial advice.** Results depend on your inputs and on assumed returns and inflation, which will differ from reality. 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