How much should I save for retirement in Canada?

A common guideline is to save 10-15% of your pre-tax income for retirement. Use our retirement calculator to estimate how much you need based on your desired retirement age, lifestyle, and expected income sources like CPP and OAS.

Should I contribute to an RRSP or TFSA?

It depends on your tax bracket. If you are in a higher bracket now than you expect in retirement, an RRSP gives you a larger tax benefit. If your income is lower or you want tax-free growth and flexible withdrawals, a TFSA may be better. Use our RRSP vs TFSA calculator to compare.

How much TFSA contribution room do I have?

Your TFSA room accumulates each year starting from the year you turn 18 (or 2009, whichever is later). The 2026 limit is $7,000. Use our TFSA contribution room calculator to find your exact available room.

When should I start collecting CPP?

You can start CPP as early as age 60 (with a 36% reduction) or delay until 70 (with a 42% increase). The break-even age is typically around 74-76. Use our CPP calculator to compare the total benefits at different start ages.

Canadian Investing & Savings Calculators

Plan your financial future with free Canadian investing calculators. Whether you are saving for retirement, growing your TFSA, contributing to your child's RESP, or comparing investment options, these tools give you the numbers you need.

Registered Accounts

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TFSA Calculator

Project your TFSA growth with annual contributions and compound returns.

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TFSA Contribution Room Calculator

Find your exact TFSA contribution room based on your age and past contributions.

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TFSA Penalty Calculator

Calculate the 1% monthly penalty on TFSA over-contributions.

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RRSP Calculator

See how RRSP contributions grow tax-deferred and estimate your tax refund.

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RRSP vs TFSA Calculator

Compare which registered account gives you more after-tax wealth.

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RRIF Calculator

Calculate minimum RRIF withdrawals and project how long your savings will last.

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FHSA Calculator

Project your First Home Savings Account growth for your down payment.

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TFSA vs FHSA

Compare the TFSA and FHSA to decide which account to prioritize for your goals.

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RRSP vs Non-Registered

When to use an RRSP versus a taxable account based on your income and goals.

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RESP Calculator

Estimate how much your education savings will grow with CESG grants.

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RESP Grant Calculator

Calculate your CESG, Additional CESG, and Canada Learning Bond amounts.

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RDSP Calculator

Estimate your RDSP growth including government grants and bonds.

Retirement & Government Benefits

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Retirement Calculator

Find out how much you need to save to retire comfortably in Canada.

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CPP Calculator

Estimate your Canada Pension Plan benefits at different retirement ages.

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OAS Calculator

Calculate your Old Age Security pension and check for GIS eligibility.

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Annuity Calculator

Estimate income payments from an annuity or calculate the value needed.

Investment Calculators

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Compound Interest Calculator

See the power of compound interest on your savings and investments over time.

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Simple Interest Calculator

Calculate simple interest on loans, deposits, or any principal amount.

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Investment Calculator

Project the growth of your investments with regular contributions and returns.

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GIC Calculator

Calculate returns on Guaranteed Investment Certificates at current rates.

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Dividend Calculator

Estimate monthly dividend income and project growth with reinvestment.

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MER Calculator

See the true cost of ETF and mutual fund fees on your investment returns.

Getting Started

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How to Start Investing

A step-by-step beginner's guide to opening an account and buying your first ETF.

Investing in Canada: What You Need to Know

Investing is how Canadians grow their wealth beyond what savings accounts can offer. While bank deposits are safe, they rarely keep pace with inflation — meaning your money loses purchasing power over time. Investing in stocks, bonds, and other assets has historically delivered higher long-term returns, making it essential for goals like retirement, homeownership, and financial independence.

Registered Accounts: The Foundation of Canadian Investing

Canada’s tax-advantaged accounts are one of the best features of the Canadian financial system. Using the right account type can save tens of thousands of dollars in taxes over your lifetime.

Account	Tax Benefit	2026 Limit	Best For
TFSA	Tax-free growth and withdrawals	$7,000/year	Flexible savings, any goal
RRSP	Tax-deductible contributions, taxed on withdrawal	18% of income (max $32,490)	Retirement, high-income earners
FHSA	Tax-deductible + tax-free for home purchase	$8,000/year ($40K lifetime)	First-time home buyers
RESP	20% government grant (CESG) on contributions	$2,500/year for max grant	Children’s education
RDSP	Government grants and bonds for eligible Canadians	$200K lifetime	Disability savings
RRIF	Tax-deferred growth, minimum annual withdrawals	Converted from RRSP by age 71	Retirement income

General priority order: Max your TFSA first (most flexible), then RRSP if you’re in a higher tax bracket, then RESP if you have children. If you’re saving for a first home, the FHSA should be at or near the top.

How Most Canadians Should Invest

For the vast majority of Canadians, the evidence points to a simple approach:

Open a self-directed account at a discount brokerage (Questrade, Wealthsimple, TD Direct Investing, etc.)
Buy a single all-in-one ETF that holds thousands of global stocks and bonds in one fund
Contribute regularly regardless of what the market is doing (dollar-cost averaging)
Don’t touch it — stay the course through market downturns

Popular all-in-one ETFs for Canadians include:

ETF	Provider	Stocks/Bonds	MER
XEQT	iShares	100/0	0.20%
VEQT	Vanguard	100/0	0.24%
XGRO	iShares	80/20	0.20%
VGRO	Vanguard	80/20	0.24%
XBAL	iShares	60/40	0.20%
VBAL	Vanguard	60/40	0.24%

These funds provide instant diversification across thousands of companies worldwide for a fraction of a percent in fees — compared to 1–2% charged by traditional mutual funds.

The Cost of Fees

Investment fees compound against you just as returns compound for you. The difference between a 0.20% MER ETF and a 2.0% MER mutual fund is enormous over time:

On a $500/month investment over 30 years at 7% gross returns:

0.20% MER: ~$556,000
2.00% MER: ~$422,000

That 1.8% fee difference costs roughly $134,000 — money that stays with the fund company instead of in your pocket. Use our MER calculator to see the impact on your own portfolio.

Risk and Time Horizon

Your investment mix should reflect how long until you need the money:

Time Horizon	Suggested Allocation	Risk Level
20+ years	80–100% stocks	Higher volatility, higher expected returns
10–20 years	60–80% stocks	Balanced
5–10 years	40–60% stocks	More conservative
Under 5 years	GICs, HISA, bonds	Capital preservation

Stock markets can drop 30–50% in a bad year but have historically recovered and grown over longer periods. If you won’t need the money for decades, temporary declines are an opportunity — not a threat.

Retirement Planning in Canada

Canadian retirees typically draw income from three sources:

Government benefits — CPP (up to ~$1,364/month in 2026) and OAS (~$727/month at 65)
Registered accounts — RRSP/RRIF withdrawals and TFSA income
Other savings — Non-registered investments, pensions, rental income

The key question is how much you need beyond CPP and OAS. Use our retirement calculator to estimate your gap and how much to save monthly to close it.

Explore the calculators above to plan your investments, compare account types, and project your long-term growth.

Explore by Topic

Browse our investing guides organized by topic:

TFSA — Tax-free savings account complete guide
RRSP — Tax-deferred retirement savings
RESP — Education savings and grants
FHSA — First Home Savings Account
Retirement Planning — CPP, OAS, RRIF, and drawdown strategies
ETFs & Index Funds — Low-cost diversified investing
Brokers — Online brokerages, fees, and reviews
Investing 101 — Foundational concepts for beginners
Sectors & Stocks — TSX sectors, dividends, stock analysis
Crypto & Alternatives — Cryptocurrency, precious metals, alternative investments
Real Estate — REITs, rental property investing

Explore Other Topics

Tax Calculators — Income tax, capital gains tax, RRSP tax deductions
Mortgages — Mortgage calculators, FHSA for home buying, housing market data
Personal Finance — Budgeting, salary, net worth tracking
Banking — GIC rates, HISA rates, prime rate tracker
Debt & Loans — Debt payoff strategies, lines of credit
Credit Cards — Cash back, rewards optimization