RetireSmarter.ca Review

I get emails from people asking me to mention their website. Usually I just delete them, but this one was interesting. Retiresmarter.ca is a Canadian calculator website that doesn’t take your information, it’s free (apparently always will be free), and is sleek and fast.

I love online calculators. As you may know, my favourite one I usually use is the Compound Interest Calculator from The Calculator Site. I like inputting my current portfolio value, inputting the amount of money I invest into the stock market monthly, and seeing what my portfolio could look like in 7 or 12 years.

Well, Retiresmarter.ca has even more calculators. Over 40 of them, to be exact.

Retiresmarter.ca Review

The first thing I noticed is that RetireSmarter.ca isn’t trying to overwhelm you with technical jargon. It’s simple and easy to navigate, and easy to look at.

Instead, the site focuses on helping Canadians think through retirement planning in a practical way.

Rather than asking only “How much money do I need?”, it encourages users to think about:

• retirement income
• taxes
• government benefits
• investment withdrawals
• retirement lifestyle
• long-term planning

I’m not sure what’s in it for the founder/creator of the website since there are no ads and it doesn’t seem to be selling anything.

Retirement Is About Income—Not Net Worth

One idea I really liked is that retirement isn’t just about accumulating a large portfolio.

It’s about creating sustainable income.

That’s an important distinction.

Many people become obsessed with reaching:

• $1 million
• $2 million
• $3 million

But those numbers don’t actually tell you whether you’re financially independent.

What matters is whether your investments can generate enough income to support your lifestyle.

This aligns closely with how I think about our own finances on Genymoney.ca.

I regularly track our annual dividend income because I find income goals much more motivating than simply watching portfolio balances fluctuate.

The Website Encourages Planning Beyond Investments

One thing I appreciated is that the site doesn’t make investing the only focus.

Retirement planning involves much more than investment returns.

For Canadians, retirement decisions also include:

• when to take CPP
• when to start OAS
• RRSP withdrawal timing
• TFSA withdrawals
• pension income
• taxes
• healthcare costs
• longevity risk

These decisions can be worth tens—or even hundreds—of thousands of dollars over a retirement.

Who Should Use This Website?

I think RetireSmarter.ca is particularly useful for:

• Canadians approaching retirement
• Couples wondering if they’re financially ready
• DIY investors who want another perspective
• People with workplace pensions
• Investors beginning to think about decumulation

If you’re still in your twenties, you probably don’t need to spend hours planning withdrawal strategies.

Your priority should be:

• increasing income
• investing consistently
• minimizing fees
• maximizing TFSA and RRSP contributions

But once retirement is within sight, planning becomes much more valuable.

My Favourite Calculators

How Much to Retire in Canada

This one you can input your desired annual spending in retirement, then put in your expected OAS and CPP income, and input your current retirement savings. It will tell you quickly if you are on track for retirement at your desired age, and how much surplus or negative you have.

One downside is this calculator does not include a box to input work pension, but I guess you could put that in the expected CPP and OAS income.

It tells me that I can quit my job now if I want, to retire at age 55 with a 1% withdrawal rate, with a $100,000 annual spend.

Dividend Income Calculator in Canada

Another one I like is the dividend income calculator in Canada. It tells you how much tax you are paying on your dividend income. It encourages you to “watch it turn negative” on a lower income (as you may know, if you have less than $50,000 or so in dividend income you don’t have to pay any taxes on it).

Fire Calculator

This is also a fun one. It tells you quickly whether you are Coast FIRE or if you have already achieved Financial Independence, and what your FIRE number is. It will vary depending on what your withdrawal rate is. You can even input 0% (if you plan to live off your dividends and distributions).

When to Take CPP Calculator

Finally, a straight forward one that people have trouble with (including myself). Delaying your CPP until age 70 will give you a bigger ‘bang for your buck’ from CPP payouts. However, psychology tends to dictate to people to want to take CPP at 65.

Final Thoughts

There isn’t a single website that can tell you exactly when you’re ready to retire.

Retirement depends on your goals, spending, health, pensions, taxes, and the lifestyle you want to live.

What RetireSmarter.ca does well is encourage Canadians to start asking the right questions. For many people, that’s the hardest part of retirement planning.

As readers of Genymoney.ca know, financial independence isn’t built through one perfect investment or one perfect calculator. It’s built through years of consistent saving, thoughtful planning, and making smart financial decisions. A retirement planning resource can help guide those decisions—but it’s your habits that ultimately determine the outcome.

Anyway there are a lot of fun calculators on this website and it’s is enjoyable to tinker around with the numbers. It’s free and it doesn’t save your information. Check it out if you have some time to see if your retirement is on track.

What calculators do you use to plan for retirement?