How Much Should Canadians Have in an RRSP by 50?

A practical benchmark by 50 is having a few times your annual income saved across RRSP, TFSA, pension, and other investments.

Key Points
  • There isn’t one “right” RRSP number, because pensions, housing, income, and career paths change the target a lot.
  • XGRO is a simple one-fund option for RRSPs, combining global stocks and bonds in an 80/20 mix.
  • At 50, steady contributions and staying invested matter more than perfection, even if markets get bumpy.

Turning 50 can make retirement suddenly feel close. Not tomorrow close, but close enough that the Registered Retirement Savings Plan (RRSP) starts to feel less like a nice-to-have account and more like a serious retirement tool. The tricky part is knowing whether you’re on track.

So, how much should Canadians have in an RRSP by 50?

Piggy bank and Canadian coins

Source: Getty Images

The big number

There isn’t one perfect number. A renter in Toronto, a public-sector worker with a pension, a self-employed contractor, and a parent who took years away from work will all have different targets. But there is a useful benchmark. By 50, many Canadians should ideally have at least a few times their annual income saved across retirement accounts, including RRSPs, Tax-Free Savings Account (TFSA), workplace pensions, and non-registered investments.

That sounds big, but it also doesn’t mean anyone below that number should panic, as averages can be misleading (hello, grade four math class). RRSP balances often look different depending on income, home equity, pension coverage, family structure, debt, and even when someone started saving. Some Canadians also carry unused RRSP room because they prioritized mortgages, childcare, business expenses, or emergency savings first.

The better question is what you do next. For 2026, the RRSP dollar limit is $33,810. Most Canadians won’t contribute the full amount, since RRSP room is generally based on 18% of earned income from the previous year, adjusted for pensions and other factors. But even smaller contributions can still make a difference at 50. So, how do we start?

XGRO

That’s where iShares Core Growth ETF Portfolio (TSX: XGRO) can help. XGRO is an all-in-one exchange-traded fund (ETF) designed for long-term capital growth. It targets about 80% equities and 20% fixed income, giving investors exposure to global stocks and bonds in one simple fund. Going too conservative too early can make it harder for the portfolio to grow. But going all-in on risky stocks can be uncomfortable when retirement starts to feel real.

XGRO sits in the middle. The 80% equity allocation gives the fund long-term growth potential, while the 20% fixed-income sleeve adds some balance. It won’t protect investors from every downturn, but it can make the ride smoother than a 100% stock portfolio. Costs are another plus. BlackRock reduced XGRO’s management fee to 0.17% in December 2025. Lower fees can make a meaningful difference over time, especially in an RRSP where money may remain invested for years.

Looking ahead

A 50-year-old with $50,000 in an RRSP who adds $7,000 a year for 15 years could reach roughly $240,000 by 65 at a 6% annual return. That’s not guaranteed as markets won’t move in a straight line. But it shows that 50 is not too late to build something meaningful. Even now, here’s what that $50,000 could bring in through dividends to reinvest, plus growth, should we see the same returns as last year.

COMPANYRECENT PRICENUMBER OF SHARESTOTAL INVESTMENT1-YEAR RETURNPROJECTED SHARE PRICEPROJECTED POSITION VALUE
XGRO$38.331,304$49,982.3223.55%$47.36$61,750.65

A larger starting balance helps, of course. But consistency matters more than perfection. Increasing contributions after a raise, using tax refunds to invest, and automating monthly RRSP deposits can help close the gap without relying on one huge contribution. There are risks. XGRO still holds mostly stocks, so it can fall during market selloffs. Bond exposure can also struggle when interest rates rise.

Still, XGRO is a strong candidate for Canadians who want a simple retirement-building tool. It offers growth, diversification, automatic rebalancing, and enough balance to suit many long-term investors in their 50s.

Bottom line

So, how much should Canadians have in an RRSP by 50? Ideally, enough that retirement feels possible, not stressful. But the exact number matters less than the plan from here.

At 50, there’s still time to make progress. A steady RRSP strategy built around a diversified ETF such as XGRO can help turn catch-up mode into real retirement momentum.

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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