# Quick Start Guide

```{admonition} Document Status
:class: note
**Version**: 2.0.0
**Last Updated**: 2026-04-26
**Classification**: Public -- User Guide
```

## How This Calculator Works

This Canadian Retirement Calculator simulates your financial future **year-by-year**, considering:

- **CPP (Canada Pension Plan)** -- Adjustable start age (60-70) with actuarial adjustments
- **OAS (Old Age Security)** -- Clawback threshold at ~$86,912 net income (2025)
- **Tax** -- Full federal + provincial tax calculation with credits (BPA, Age Amount, PITC)
- **Withdrawal Strategy** -- Budget-based or fill-the-bracket optimization
- **RRIF Conversion** -- Mandatory at age 71 with minimum withdrawal factors

---

## Form Tabs Explained

| Tab | What You Enter |
|-----|---------------|
| **Mode** | Single or couple calculation |
| **Personal** | Age, income, province, life expectancy |
| **Savings** | TFSA, RRSP, non-reg balances and contributions |
| **Budget** | Retirement spending phases (go-go, slow-go, no-go) |
| **Benefits** | CPP/OAS/GIS settings, workplace pensions (DBPP/DCPP), additional income sources |
| **Assumptions** | Withdrawal strategy, priority order, custom injections/expenses |

---

## Withdrawal Strategies

### Budget-Based (Default)

Only withdraw what is needed to cover the budget. This minimizes taxes and preserves capital in tax-advantaged accounts.

### Fill the Bracket

Withdraw extra RRSP/RRIF funds up to the top of your current tax bracket. This is an RRSP meltdown strategy that reduces future mandatory RRIF withdrawals and smooths taxable income across more years.

**Income is sequenced automatically.** Each year the calculator first collects mandatory income — CPP, OAS, GIS, employer pensions, and other annuities — then only draws from portfolio accounts (in your chosen priority order) if mandatory income does not cover the budget.

```{only} not public
See the [Retirement Strategy Catalog](./retirement-strategies.md) for full details on all strategies.
```

---

## Action Buttons

| Button | What It Does |
|--------|-------------|
| **Compare All Provinces** | See how taxes differ across all 13 provinces/territories |
| **Export CSV** | Download year-by-year data as a spreadsheet |
| **Export Excel** | Download a formatted multi-sheet workbook |
| **Export PDF** | Download a professional PDF report with charts |
| **Print** | Browser print dialog for a paper report |

---

## Account Types

### TFSA (Tax-Free Savings Account)

- Contributions from after-tax dollars
- All growth and withdrawals are 100% tax-free
- Withdrawn last to maximize tax-free compounding

### RRSP / RRIF (Registered Retirement Savings Plan)

- Contributions are tax-deductible
- All withdrawals are 100% taxable as income
- Must convert to RRIF by age 71 with mandatory minimum withdrawals

### Workplace Pensions (DBPP/DCPP)

- **DBPP (Defined Benefit)**: Guaranteed retirement income based on a formula (years of service x accrual rate x average salary). May include a bridge benefit until CPP starts. Eligible for pension income splitting.
- **DCPP (Defined Contribution)**: You and your employer contribute to an investment account. At retirement, the balance converts to a LIF (Locked-In Retirement Fund) with mandatory annual withdrawals, similar to a RRIF.
- Common Canadian plans (OTPP, OMERS, HOOPP, etc.) are available as pre-filled presets

### Non-Registered (Cash)

- Interest is 100% taxable
- Capital gains are 50% taxable
- Cost basis (principal) is not taxed on withdrawal

---

## Getting Started

1. Select **Single** or **Couple** mode
2. Enter your **current age**, **retirement age**, and **life expectancy**
3. Enter your **savings balances** (RRSP, TFSA, Cash)
4. Set your **retirement budget** across the three spending phases
5. Configure **CPP and OAS** start ages
6. Add any **workplace pensions** (DBPP or DCPP) in the Benefits tab
7. Click **Calculate My Retirement Plan**
8. Review the summary, charts, and year-by-year data

```{tip}
New to Canadian retirement planning? Read the [Retirement Planning Guide](./retirement-planning-guide.md) for a comprehensive overview of CPP, OAS, GIS, TFSA, RRIF, and the key strategies that can save you thousands in retirement.
```

Need help gathering your numbers? See the [Data Preparation Guide](./data-preparation-guide.md) for a step-by-step checklist.

```{only} not public
For detailed product documentation, see the [Product Document](./index.md). For all supported strategies, see the [Retirement Strategy Catalog](./retirement-strategies.md).
```