You do not need perfect pension statements, a complete budget or a final retirement date. Start with three groups of numbers and replace them as better information becomes available.
Begin with spending, savings and income.
Monthly spending
Housing, food, utilities, transportation, healthcare and flexible activities such as travel.
Look at recent bank or credit-card activity. A rounded monthly estimate is enough.Savings
Retirement savings and investments today, plus the amount you expect to add each month.
Use recent account statements. Do not include the home unless the plan explicitly uses it.Retirement income
CPP or QPP, OAS, workplace pensions, annuities, part-time work or other continuing income.
Use official or plan-provider estimates when available; otherwise mark the amount as rough.Add detail in layers
Start rough, then replace what matters.
A first estimate can show which input deserves attention. That is often more useful than delaying the whole forecast until every number is confirmed.
A simple fictional example.
Alex is 42 and tries retirement at 65. Alex enters rounded monthly spending, current retirement savings, a monthly contribution and rough future pension income. The first result is not treated as an answer. Alex uses it to ask whether saving more, retiring later or adjusting retirement spending has the greatest effect.
The names and figures in Retired Kevin examples are illustrative. They are not defaults, recommendations or expected answers.
Use your own rough numbers
Quick Forecast is designed for a first estimate.
Each step includes optional guidance and sample values. You can replace examples at any time, and nothing is treated as personalized advice.
A checkpoint
Which number could you estimate today—and which one should you verify next?
Write down one of each. This keeps the forecast moving while making uncertainty visible.
Sources and useful places to continue
- Government of Canada: Canadian Retirement Income Calculator (opens in a new tab) — the official calculator and its list of information to gather.
- Financial Consumer Agency of Canada: planning and saving for retirement (opens in a new tab).
- Government of Canada: sources of income during retirement (opens in a new tab).
External resources are provided for convenience. Retired Kevin is not affiliated with or endorsed by these organizations.