RRSP, TFSA or FHSA: where should my savings go?
Enter what you can save each year after tax, for how long, the expected return and your tax rate now and when you will take the money out.
Your estimate
BEST FIT
How this is estimated
What the calculator assumes.
The comparison. The same after-tax dollars go into each account at the start of each year. In an RRSP or FHSA your tax refund lets you deposit more (savings ÷ (1 − tax rate now)). RRSP withdrawals are taxed at your rate then; TFSA withdrawals are tax-free; an FHSA is tax-free when used for a qualifying first home.
Room and rules. Each account has its own limits: see the TFSA, RRSP and FHSA calculators and the first-time buyer programs guide. Income-tested benefits, such as OAS and the GIS, can also be reduced by RRSP withdrawals, which this comparison leaves out.
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