How long can $500,000 last in Canada?

In Canada, $500,000 saved at age 65 can last 25 to 30 years or even indefinitely, depending heavily on your annual withdrawal amounts, investment returns, and whether you collect government benefits like the Canada Pension Plan (CPP) and Old Age Security (OAS). How Withdrawal Rates Affect the TimelineConservative Drawdown ($20,000/year): Drawing $20,000 annually from the principal alone (ignoring growth) gives you 25 years. Combined with government benefits, this stretches much further.The 4% Rule ($20,000 first year, adjusted for inflation): If invested in a balanced portfolio yielding a modest net return, a 4% initial withdrawal rate ($20,000/year) historically has a high probability of lasting 30 years or more without depleting the principal.Aggressive Drawdown ($40,000+/year): If you withdraw $40,000 a year from your savings without matching lifestyle reductions or heavy investment growth, the $500,000 will be exhausted in roughly 12 to 15 years.Key Factors That Change the MathGovernment Benefits: At age 65, you gain access to full OAS and baseline CPP. Max or average government benefits can inject an extra $15,000 to $30,000+ per year, meaning your $500,000 only has to function as a "top-up" fund rather than your sole source of survival.Housing Costs: If you own your home outright with no mortgage, $500,000 easily lasts through retirement. If you rent or carry heavy debt, it may deplete much faster.Investment Growth: Keeping the money in cash or high-interest savings yields low real returns after inflation, whereas a balanced mix of equities and fixed income allows the principal to compound and replenish itself partially.To narrow this down, please share:Your expected annual spending in retirementWhether you have a paid-off homeYour anticipated CPP and OAS monthly amountsI can help estimate a personalized timeline for your funds.