RRSP vs TFSA Optimizer

    Compare long-term growth and tax advantages between RRSP and TFSA contributions.

    $
    $100$50,000

    Amount you plan to contribute each year

    %
    15%54%

    Your current combined federal + provincial tax rate

    %
    15%54%

    Tax rate you expect in retirement (usually lower)

    %
    0%15%

    Average annual investment growth rate

    years
    1 years45 years

    Time until you need the money

    RRSP After-Tax Value

    $453,619.79

    TFSA After-Tax Value

    $581,563.83

    RRSP + Refund Invested

    $628,088.93

    Annual Tax Refund (RRSP)

    $3,000

    Total Contributions

    $250,000

    TFSA After-Tax Value$581,563.83
    RRSP + Refund Invested$628,088.93
    Annual Tax Refund (RRSP)$3,000
    Total Contributions$250,000

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    Rate source: CRA / Federal Tax Tables
    Data from Official Sources:CRA