Compare a TFSA and RRSP on an equal after-tax savings budget, including your current tax rate, expected retirement tax rate and projected growth.
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RRSP vs. TFSA Optimizer
Adjust the example assumptions to model your own scenario. Your entries stay in your browser.
The available after-tax savings input is capped at $500,000 per scenario. This is an illustration, not your CRA contribution room.
Your estimate
Model assumptions and important limitations
Comparison assumes the entire RRSP deduction can be used at the marginal rate entered and its tax benefit is fully captured. The TFSA contribution equals the after-tax budget; the RRSP gross contribution equals that budget divided by (1 minus current marginal rate). Tax is applied once on RRSP withdrawals. This is a simplified one-time contribution comparison, not a personalized tax return, and ignores benefit clawbacks, pension adjustments, foreign withholding, fees, and future rule changes. CRA RRSP guidance and CRA TFSA guidance. Verify actual contribution room in your CRA records.
Educational estimates only, not personalized tax, investment, mortgage, or legal advice. Compare with official records and a qualified professional. All financial calculators.