What Your Habits Are Costing Your Retirement
Track a few habits at once. See the growth curve, the five-year cost of waiting, and what redirecting half would do. You decide what stays in your life. The page does the adding.
Quick Adds
Tap any of these to add it to your list, then set the amount to match what you actually spend. The prices are typical Canadian figures, and you can add as many as you want.
Your Habits
Your Timeline
These settings apply to all your habits.
The Real Price Tag
| Habit | Monthly | Spent | Invested |
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How This Works
Three questions sit behind every number on this page.
Monthly equivalent multiplied by 12 months multiplied by years to retirement. No tricks.
The future value formula for monthly contributions: FV = PMT x [((1+r)^n - 1) / r] where r is the monthly rate and n is the number of months. This is what a TFSA or RRSP contribution of the same amount would compound to by retirement, assuming a consistent annual return. The chart and the cost-of-waiting comparison use the same math, just measured year by year.
The monthly income figure uses the 4% rule: a common planning guideline that says you can withdraw about 4% of a portfolio each year with a good chance of it lasting through retirement. It rests on a retirement of roughly 30 years. What it gives you is a big abstract pile turned into a monthly amount you can picture.
This is not investment advice. Past returns don't guarantee future results. The 7% default is a commonly cited long-term estimate for a diversified equity portfolio. It is not a promise. The real number for your situation depends on your actual investments, fees, and timing. The "today's dollars" toggle applies a 2% inflation assumption. Talk to a qualified financial planner before making decisions. But the math is real.
Frequently Asked Questions
How much does a $6 coffee every workday cost me per year?
About $1,560 a year, on 260 workdays. Redirect that same money at a 7% annual return and ten years of it grows to roughly $22,500. The calculator gives you the yearly cost and the long-term cost of any habit you enter, so the decision is yours to make with the real figure in front of you.
Is it wrong to spend money on small pleasures?
No. Scripture treats good gifts as good gifts, and a coffee with a friend is one of them. The aim here is spending on purpose. Once you know what a habit actually costs over a working life, you can decide whether it earns its place. If the daily coffee makes your morning better, keep it. If it runs on autopilot, that is worth a look.
Do I have to give up a habit completely for this to matter?
No. Redirecting even half of a recurring habit into a TFSA or an RRSP still compounds into real money over a few decades. The calculator has a card for exactly this: it shows what a quarter, a half, or all of it would grow to, and what that could pay you each month in retirement under the 4% rule.
What does waiting five years to start actually cost?
More than most people expect, because compounding is back-loaded. The largest growth happens in the final years, and a late start cuts those years off the end. For a habit redirected at 7% over 30 years, starting five years late trims the final amount by about a third. The calculator shows your own gap in dollars.
Does this calculator assume the money is invested?
Yes. The long-term figure assumes you redirect the cost of the habit into an investment earning the return you choose, contributed at the end of each month, with no fees or taxes modelled. It is an illustration of opportunity cost. Returns vary, and nothing here is guaranteed.
Where should the money I redirect go, a TFSA or an RRSP?
A TFSA is the simpler first home for it. Contributions give you no deduction, the growth comes out tax-free, and the 2026 annual limit is $7,000. An RRSP can work out better when your income is higher now than it will be in retirement, because the contribution comes off this year's taxable income. Our RRSP vs TFSA tool runs both sides with your own numbers.
What is a reasonable rate of return to use in this calculator?
The 7% default is a nominal long-term figure for a diversified equity portfolio, which means inflation has not been taken out of it yet. Try 5% or 6% for a more cautious picture, or about 3% if the money would sit in a savings account. Checking "Show results in today's dollars" trims 2% a year off whatever rate you set, so the total reads in purchasing power you would recognize today.