The amount of money you need to retire depends on how your income and expenses change when you retire. As a general rule, you'll want to aim for at least **70-80% of your pre-retirement income for each year of your retirement** . Financial planners often recommend replacing about **80% of your pre-retirement income** to sustain the same lifestyle after you retire .
To calculate how much money you need to retire, you can use a retirement calculator. For example, Wealthsimple has a free Canadian Retirement Calculator that can help you estimate how much money you need to retire .
