Savings calculator
RRSP or TFSA calculator
The choice turns on one comparison: your tax rate now against your tax rate when the money comes out. Enter both to see the difference in dollars.
2026 figures
After tax, in 20 years
For 2026 the RRSP limit is $33,810, or 18% of last year's earned income if that is lower, and the TFSA adds $7,000 of new room. Unused room from earlier years carries forward in both.
What this does not cover. Compares the same after tax cost: the full pre tax amount in the RRSP, which the refund brings down to the cost of the smaller TFSA contribution. It assumes the same return in both accounts and one withdrawal at the end, does not check your actual contribution room, and ignores income tested benefits such as Old Age Security, which RRSP withdrawals can reduce and TFSA withdrawals do not. This is an estimate for planning, not advice for your situation and not a filing.
Is an RRSP or a TFSA better?
If your tax rate when you withdraw will be lower than it is today, the RRSP usually leaves more after tax. If it will be the same, they come out even. If it will be higher, the TFSA wins. TFSA withdrawals also stay out of income, which protects income tested benefits later in life.
