Your Inputs
Growth Over Time
| Year | TFSA Value | RRSP Gross | RRSP After Tax |
|---|---|---|---|
| 0 | $5,000 | $6,483 | $4,538 |
| 2 | $5,618 | $7,284 | $5,099 |
| 4 | $6,312 | $8,184 | $5,729 |
| 6 | $7,093 | $9,196 | $6,437 |
| 8 | $7,969 | $10,332 | $7,232 |
| 10 | $8,954 | $11,609 | $8,126 |
| 12 | $10,061 | $13,044 | $9,131 |
| 14 | $11,305 | $14,656 | $10,259 |
| 16 | $12,702 | $16,468 | $11,527 |
| 18 | $14,272 | $18,503 | $12,952 |
| 20 | $16,036 | $20,790 | $14,553 |
TFSA vs RRSP — Quick Guide
Contribute with after-tax dollars. Investments grow tax-free, and withdrawals are completely tax-free.
- You expect a higher tax rate in retirement
- You have a lower current income
- You want flexible, tax-free withdrawals
Contributions are tax-deductible. Investments grow tax-deferred, but withdrawals are taxed as income.
- You expect a lower tax rate in retirement
- You have a higher current income
- You want an immediate tax refund
Saving for a Home?
Check out the mortgage comparison tool — and explore how a First Home Savings Account (FHSA) combines the best of TFSA and RRSP for first-time homebuyers.
This calculator provides estimates for educational purposes only and is not financial advice. Tax rates are based on 2026 CRA published brackets and may not reflect your complete tax situation. The comparison assumes the RRSP refund is reinvested, uses a constant rate of return, and does not account for employer matching, pension adjustments, or other deductions. Consult a qualified financial advisor for personalized guidance. Tax bracket data sourced from the Canada Revenue Agency, effective January 1, 2026.
Get the Newcomer's Financial Checklist
Subscribe to Maple Insight Canada and receive our free PDF checklist covering every financial step for your first year in Canada.
No spam. Unsubscribe anytime. We respect your privacy.