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Detailed calculator

BC Financial Independence Calculator

Build the savings to support a work-optional life — for as long as you need it.

Steven Alexander CPA Inc.
Building lasting financial independence

Step 1 — Choose a target lifestyle

Click a tier to load typical BC lifestyle-spending and savings targets for a work-optional life. You can adjust everything below.

Modest

A simpler work-optional life — paid-off home, modest leisure, minimal travel. Basic needs covered with comfort.

Annual lifestyle spending$45,000
Travel budget / year~$3,000
Annual savings to die with zero$16,600
Allocation: $7K TFSA + $9.6K RRSP (default 35→65→95 path)

Comfortable

A relaxed work-optional life — regular dining out, hobbies, 1-2 trips a year, comfortable home, occasional indulgences.

Annual lifestyle spending$70,000
Travel budget / year~$8,000
Annual savings to die with zero$40,200
Allocation: $7K TFSA + $26.6K RRSP + $6.6K Non-reg (RRSP capped at 18% of gross)

Affluent

A premium work-optional life — frequent international travel, premium home & vehicles, dining, hobbies, family support.

Annual lifestyle spending$110,000
Travel budget / year~$20,000+
Annual savings to die with zero$75,700
Allocation: $7K TFSA + $33.8K RRSP + $34.9K Non-reg

Step 2 — Enter your situation

All figures in today's dollars unless noted. Results update live as you type.

Personal
Current age
Target work-optional age
Plan to age
Current Savings
RRSP balance
TFSA balance
 
Non-registered investments
Annual Contributions
RRSP / year ⓘ max $33,810 or 18% of income
 
TFSA / year ⓘ max $7,000
Non-registered / year
Current Lifestyle
Current household expenditure / year (today's $)
Annual after-tax spending (housing, food, transport, etc., excluding retirement contributions). Used to compute the gross income required to follow this contribution strategy.
Assumptions
Pre-independence return (%)
Post-independence return (%)
Inflation (%)
Government Benefits
Expected CPP at age 65 / yr ⓘ max ~$18,090
Expected OAS at age 65 / yr ⓘ ~$8,908
Other pension income / yr (if any)
Lifestyle Target
Desired annual lifestyle spending (today's $)
Client & Firm (for PDF export)
Firm name
Client name
✓
On track Your projected savings should support your target lifestyle through your planning horizon.
Nest egg at independence
$0
in nominal dollars
Nest egg in today's $
$0
inflation-adjusted
Sustainable income / yr
$0
total gross, today's $
Money lasts to age
—
at target spend
Estimated final estate ⓘThe remaining investment balance at your plan-to age. A surplus means assets to leave to heirs or charity; near $0 reflects a Die-with-Zero outcome where savings funded the most life possible.
$0
at plan-to age
Gross income required to fund this plan
$0
covers expenditure + contributions + tax (today's $)
ⓘ
About "Die with Zero"
The 2020 book by Bill Perkins argues that the goal of saving isn't to leave the largest estate — it's to fund the most life. Money has diminishing utility as you age (you can't enjoy expensive travel at 90 the way you can at 60), so dying with significant assets unspent often means experiences and time you traded away.
The target: spend savings down to roughly $0 by your planned end-of-plan age — optimizing for life, not legacy.
📚 Buy the book 🌐 Learn more →
Find the contribution level (higher or lower than current) that depletes your savings exactly at plan-to age.
Optimization result

Investment balance over time (nominal $)

Hover the chart to see the year-by-year breakdown of each account.

Income breakdown — year 1 of work-optional phase (today's $)

Annual Monthly
CPP$0$0
OAS (gross)$0$0
OAS clawback ⓘThe OAS Recovery Tax (clawback) reduces OAS for higher incomes. In 2026 the threshold begins at $93,454 of net income. For every $1 above the threshold, $0.15 of OAS is recovered. OAS is fully clawed back at roughly $148,451 (ages 65–74) or $154,196 (age 75+). Both threshold and ceiling index with inflation.$0$0
Other pension$0$0
Withdrawals from savings
  TFSA tax-free$0$0
  RRSP fully taxable$0$0
  Non-registered cap gains taxable$0$0
Estimated income tax (BC + Federal) ⓘLoading…$0$0
Net spending available$0$0

Ready to turn this plan into action?

This calculator gives you a starting point — but every path to financial independence deserves a careful look at your full tax picture, registered account strategy, business income (if applicable), estate goals, and risk tolerance. Steven Alexander CPA Inc. works with British Columbia individuals and business owners to build personalized, tax-efficient strategies for lasting financial security.

Get a one-on-one review of your numbers, identify opportunities you may be missing, and walk away with a clear path toward a work-optional life.

Book a 30-min chat Visit our website
Important disclaimer: This calculator is for illustrative planning purposes only. It uses simplified assumptions including a blended return on combined RRSP/TFSA/non-registered savings, a flat tax estimate based on combined BC + Federal 2026 marginal brackets applied to taxable withdrawals (RRSP) and government benefits, OAS Recovery Tax (clawback) at the 2026 threshold of $93,454 indexed with inflation, and constant real inflation. It does not account for RRIF minimum withdrawal rules, pension income splitting, age amount or pension credits, or sequence-of-returns risk. Actual outcomes will vary. Real-world planning toward financial independence should incorporate your full tax picture, estate goals, and potential changes to government benefits. Government benefit amounts shown reflect 2026 figures and may increase with future indexation. Consult a qualified financial planner or CPA before making decisions.
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