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RRSP and TFSA

Photograph of Canadian coins
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Related Guides

Use these sources to learn about the differences between a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA).

Tax-Free Savings Account

The Canada Revenue Agency provides information on how to open a TFSA, different types of investments, what to do when life events happen, and tax issues related to TFSAs.

An easy to understand guide to TFSA basics.

List of the annual TFSA contribution room starting from 2009.

Answer a few questions to find out how much room you have in your TFSA account. You can also find out the exact figure through your personal CRA account.

Registered Retirement Savings Plan

The Canada Revenue Agency gives basic information on what an RRSP is and how it can be used to lower your taxes.

An easy to understand guide to RRSP basics.

Calculate the tax savings your RRSP contribution will generate in each province and territory for the 2022 tax year.

Estimate how much your RRSP will be worth at retirement and how much income it will provide each year.

Retirement Planning

The starting point for understanding how to plan for retirement from the Financial Consumer Agency of Canada.

Use this calculator from Service Canada to figure out how much you'll need to save now to have the type of lifestyle you want when you retire.

Learn about other types of registered savings plans such as the Registered Education Savings Plan (RESP) and Registered Disability Savings Plan (RDSP).

A fun calculator to help you figure out if a TFSA or RRSP is the best option for your retirement financial goals.

Recommended Titles

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Financial expert Fred Vettese tries to help Canadians navigate an important question: How much should I save for retirement? Vettese presents a strategy called "the rule of 30" to make saving more approachable and realistic.
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This comprehensive guide to RRSP includes tips on selecting RRSPs, mistakes to avoid, strategies, as well as information of TFSAs and RRIFs.
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