Can I retire at 60 with $750K in Alberta?
A year-by-year projection with 2026 Alberta and federal tax, the average CPP, full OAS, RRIF minimums and the OAS clawback, in today's dollars.
Sustainable after-tax income to age 95
$39,300 / year
$3,275 a month, steady in today's dollars from age 60 to 95.
Your own numbers will differ. Run them with your CPP estimate, TFSA and pension in the retirement projection calculator, prefilled with this scenario.
How the money flows, year by year
For the first 5 years the RRSP pays for everything. From 65, CPP and OAS cover part of the spending and withdrawals fall. The RRSP becomes a RRIF by the end of the year you turn 71, after which a minimum must come out each year.
| Age | RRSP/RRIF out | CPP + OAS | Tax | After tax | Balance left |
|---|---|---|---|---|---|
| 60 | $45,097 | $0 | $5,796 | $39,300 | $716,468 |
| 65 | $23,070 | $19,450 | $3,013 | $39,507 | $562,759 |
| 72 | $25,125 | $19,450 | $3,465 | $41,110 | $447,370 |
| 80 | $22,804 | $19,450 | $2,954 | $39,300 | $306,550 |
| 90 | $22,804 | $19,450 | $2,954 | $39,300 | $111,057 |
| 95 | $22,804 | $19,450 | $2,954 | $39,300 | $714 |
First-year withdrawal $45,097. Total income tax to age 95: $124,598 ; no OAS clawback at this income.
Same savings, other provinces
- Alberta $39,300
- British Columbia $39,100
- Ontario $38,700
- Manitoba $37,600
- Quebec $37,300
Quebec uses the average QPP pension, the other provinces the average CPP.
With more or less saved
- $300K $26,300
- $500K $32,300
- $750K $39,300
- $1 Million $46,100
Decisions that change the answer
- CPP and OAS at 70: $40,900 a year instead of $39,300, $1,600 more, because larger indexed pensions replace withdrawals later. Compare start ages in the CPP and OAS start age calculator.
- Some savings in a TFSA: TFSA withdrawals are not taxed and do not count toward the OAS clawback or GIS. See the drawdown order calculator.
- A spouse: splitting RRIF income from 65 can lower the couple's tax. See the pension splitting calculator.
- Your real CPP: the projection uses the average CPP at 65 ($858.34 a month, July 2026). Your Statement of Contributions in My Service Canada Account gives your own figure.
Assumptions
- All $750K is in RRSPs at 60, invested half in bonds and a quarter each in Canadian and U.S. stocks.
- Returns and inflation from the FP Canada and Institute of Financial Planning 2026 Projection Assumption Guidelines: fixed income 3.2%, Canadian equities 6.3%, U.S. equities 6.4%, inflation 2.1%. Less 1.0% for fees, that is 3.8% a year, or 1.6% after inflation.
- Money lasts to age 95. The Guidelines put the age a 60-year-old has a 25% chance of reaching at 94 for men and 96 for women.
- Average CPP and the full OAS (ages 65 to 74 rate, $762.50 a month) from 65, single filer, 2026 tax rules held in today's dollars.
- Not included in the income figure: GIS, the 10% OAS increase at 75, a workplace pension, home equity and employment income.