SWP Calculator Canada — Invest, Then Withdraw
Build with monthly contributions, switch to monthly withdrawals, and compare how long the same plan lasts in a taxable account, TFSA or RRSP.
Published by GrowThenDraw Editorial Team · Editorial policy · Methodology & sources
The most that portfolio can sustain for the full 30 withdrawal years: $2,161/month before tax.
| Year | Phase | Cash flow | Tax | End balance |
|---|---|---|---|---|
| 1 | Invest | $6,000 | $0 | $6,266 |
| 2 | Invest | $6,000 | $0 | $13,053 |
| 3 | Invest | $6,000 | $0 | $20,403 |
| 4 | Invest | $6,000 | $0 | $28,363 |
| 5 | Invest | $6,000 | $0 | $36,983 |
| 6 | Invest | $6,000 | $0 | $46,319 |
| 7 | Invest | $6,000 | $0 | $56,430 |
| 8 | Invest | $6,000 | $0 | $67,381 |
| 9 | Invest | $6,000 | $0 | $79,240 |
| 10 | Invest | $6,000 | $0 | $92,083 |
| 11 | Invest | $6,000 | $0 | $105,992 |
| 12 | Invest | $6,000 | $0 | $121,056 |
| 13 | Invest | $6,000 | $0 | $137,370 |
| 14 | Invest | $6,000 | $0 | $155,038 |
| 15 | Invest | $6,000 | $0 | $174,173 |
| 16 | Invest | $6,000 | $0 | $194,895 |
| 17 | Invest | $6,000 | $0 | $217,338 |
| 18 | Invest | $6,000 | $0 | $241,643 |
| 19 | Invest | $6,000 | $0 | $267,966 |
| 20 | Invest | $6,000 | $0 | $296,474 |
| 21 | Withdraw | $26,799 | $3,201 | $289,748 |
| 22 | Withdraw | $26,642 | $3,358 | $282,465 |
| 23 | Withdraw | $26,497 | $3,503 | $274,577 |
| 24 | Withdraw | $26,363 | $3,637 | $266,035 |
| 25 | Withdraw | $26,240 | $3,760 | $256,783 |
| 26 | Withdraw | $26,125 | $3,875 | $246,764 |
| 27 | Withdraw | $26,020 | $3,980 | $235,913 |
| 28 | Withdraw | $25,923 | $4,077 | $224,161 |
| 29 | Withdraw | $25,833 | $4,167 | $211,434 |
| 30 | Withdraw | $25,750 | $4,250 | $197,651 |
| 31 | Withdraw | $25,673 | $4,327 | $182,723 |
| 32 | Withdraw | $25,602 | $4,398 | $166,557 |
| 33 | Withdraw | $25,537 | $4,463 | $149,049 |
| 34 | Withdraw | $25,477 | $4,523 | $130,087 |
| 35 | Withdraw | $25,421 | $4,579 | $109,552 |
| 36 | Withdraw | $25,370 | $4,630 | $87,313 |
| 37 | Withdraw | $25,322 | $4,678 | $63,227 |
| 38 | Withdraw | $25,278 | $4,722 | $37,143 |
| 39 | Withdraw | $25,238 | $4,762 | $8,893 |
| 40 | Withdraw | $7,540 | $1,432 | $0 |
What this Canadian SWP calculator does
An SWP is a standing instruction to sell a chosen amount from an investment portfolio on a regular schedule, often monthly. It is a withdrawal method, not a special account: the investments can sit in a non-registered account, TFSA or RRSP, and that account determines the tax treatment.
This calculator joins the build-up and drawdown stages. Enter a monthly contribution and investing period, then test the income you want and how many withdrawal years it must cover. The result shows the portfolio at the switch, first-year after-tax income, total withdrawal tax and the highest starting monthly withdrawal the smooth-return scenario can sustain.
Why the account changes the answer
In a non-registered account, the calculator carries every contribution into retirement as adjusted cost base. Only the gain portion of a withdrawal is a capital gain, and 50% of each year's realized gain is included in income at the combined federal-plus-provincial marginal rate you enter.
A TFSA withdrawal is generally tax-free. An RRSP withdrawal is fully taxable as income at the retirement rate you choose. RRIF minimums and source withholding are a separate legal calculation, so anyone already drawing from a RRIF should use the dedicated Canadian RRIF calculator rather than treating this flexible SWP as a statutory schedule.
Stress-test the smooth-return result
The chart shows the whole arc: balances rise through the contribution years, then switch to withdrawals and turn red if the money runs out. The maximum-withdrawal line is a mathematical boundary for the assumptions entered, not a recommended retirement income.
Real markets arrive in an uneven sequence. Run a lower return, include fund fees, increase withdrawals with inflation and lengthen the drawdown period. A plan that survives only with an optimistic return has not passed a useful retirement stress test.
Related reading
Frequently asked questions
What is an SWP calculator in Canada?
Yes. Canadian brokers and fund providers can arrange regular sales or withdrawals from an investment account. SWP describes the schedule, not a separate registered plan. Withdrawals from a non-registered account can include return of capital and capital gains, TFSA withdrawals are tax-free, and RRSP withdrawals are taxable income.
Which account should I model?
Run it per account: TFSA for the tax-free answer, non-registered for the capital-gains answer at your marginal rate, RRSP to see withdrawals taxed as income. The account selector switches all the math — the comparison itself is often the insight.
Why does the tax rise over the withdrawal years?
Early withdrawals are mostly your own contributions (your ACB) coming back untaxed. As the ACB depletes and the portfolio keeps growing, a larger share of each withdrawal is gain — so the taxable half grows year by year.
Is this the same as a RRIF minimum withdrawal calculator?
No. This page models a flexible invest-then-withdraw plan. A RRIF has prescribed age factors, a yearly minimum and source-withholding rules. Use the dedicated RRIF calculator when those rules apply.
What does the maximum sustainable withdrawal mean?
It is the highest starting monthly gross withdrawal that leaves the projected balance above zero for the selected horizon under the smooth return and annual increase entered. It is not a safe-withdrawal recommendation and does not model an unlucky sequence of market returns.
Tax figures for 2026 last verified 3 July 2026 against the official source — how we calculate.
GrowThenDraw is not a registered dealer or adviser in any Canadian jurisdiction. All results are educational estimates only — consult a registered advisor and a tax professional before acting.
Relevant bodies in this jurisdiction: CIRO / provincial securities regulators, CRA (tax).