GPC Retirement Set-Aside Calculator

Created just for Group Practice Connection members, this calculator is meant to help you start to consider what you want and need to set aside for your personal retirement funds.

This is NOT meant to replace the advice from your accountant and financial planner, but to help you start a conversation.

Group Practice Connection · Member tool

Retirement Set-Aside Calculator

See roughly how much to set aside for retirement based on how you pay yourself, and bring the numbers to your accountant.

How you pay yourself
Your practice is
$
$
5%Rule of thumb: 10 to 15%25%
Look ahead (optional)
$

Growth is after inflation, so results are in today's dollars. 4% is a common planning assumption.

Try an example

Your numbers stay in this browser. Nothing is sent anywhere.

Example: Sarah, our composite owner Set aside about
$0 a month

CPP this year

$0

New RRSP room

$0

New TFSA room

$0

Where your set-aside could go

Fits in new RRSP room Fits in TFSA room Beyond both

This shows how much room you have, not which account to fill first. That depends on your tax bracket and plans.

Looking ahead

Questions to bring to your accountant

  • Given my retirement plans, should I pay myself salary, dividends or a mix?
  • Which should I fill first: my RRSP, my TFSA, or savings inside the corporation?
  • How much unused RRSP room do I have?
  • Would an Individual Pension Plan make sense for me?

Want to talk through what your numbers mean for how you pay yourself?

Book a time with Lisa

A planning estimate, not financial or tax advice. Your accountant or financial planner has the final word on what works for you.