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Canadian Financial Toolkit

Financial Optimization Tools

RRSP vs TFSA, RESP education savings, CPP timing, FHSA for first-time buyers, and debt payoff strategies — all with Canadian tax brackets built in.

Your Situation
Compare RRSP and TFSA based on your current vs. retirement income
📊 Prioritize RRSP

Your current marginal rate is higher than your expected retirement rate — RRSP gives you a bigger tax benefit.

Current Marginal Rate

29.65%

Tax saved per RRSP dollar contributed

Retirement Marginal Rate

20.05%

Tax paid per RRSP dollar withdrawn

RRSP Path

Annual Tax Refund$2,965
Gross at Retirement$675,060
After-Tax (no reinvest)$539,710
After-Tax (reinvest refund)$699,734

TFSA Path

Annual Tax Refund$0
Balance at Retirement$675,060
Tax on Withdrawal$0
After-Tax Value$675,060

Pro Tip: Do Both!

If you have room, contribute to both. Max the TFSA first if your retirement rate may be higher. Max the RRSP first if you need the tax refund now and expect lower retirement income.