A Canada-localised calculator pre-filled in CAD. Use it to project growth inside a TFSA, RRSP, or FHSA — each with different contribution rules and tax treatment at withdrawal.
A CA$13,000 TFSA balance plus CA$500/month at 7% for 25 years grows to roughly CA$425,000 — entirely tax-free at withdrawal because TFSA growth is sheltered indefinitely.
The 2026 TFSA contribution room limit is CA$7,000; the cumulative lifetime room since 2009 is CA$102,000 for someone who was 18 or older the entire time. Unused room carries forward.
Compound interest is interest earned on interest. Each period, your balance grows by the previous balance times the periodic rate, then your contribution is added. Over decades the compounded portion dwarfs the contributed portion — the "hockey stick" curve every personal-finance article keeps showing you.
P is your starting amount. PMT is each monthly contribution. r is the monthly rate (annual ÷ 12). n is the total number of months.
In a Canadian context: TFSA growth and withdrawals are fully tax-free — the number you see is what you keep. RRSP contributions are tax-deductible (reducing taxable income now) but withdrawals in retirement are taxed as ordinary income. FHSA gives both the deduction and tax-free withdrawal for a qualifying first home. In a non-registered account, only 50% of capital gains are included in taxable income — model with a roughly 1% lower effective return.
Important: figures are nominal — they don't subtract Canadian inflation. To see real growth, subtract a 2–3% CPI estimate from your return assumption.
Compound interest is interest earned on both your original deposit AND on the interest already credited. It causes balances to grow faster over time — the longer you leave money invested, the more dramatic the effect.
Future Value = Principal × (1 + r)n + PMT × ((1 + r)n − 1) / r, where r is the periodic interest rate (annual rate ÷ 12 for monthly compounding) and n is the total number of periods.
For a broadly diversified equity index fund inside a TFSA, 6–8% annualised is a common historical assumption. GICs and bonds run significantly lower. This calculator does not promise any specific return — model multiple scenarios.
No — the figures shown are nominal. To see real (after-inflation) growth, subtract a Canadian CPI estimate (typically 2–3%) from your assumed return rate before entering it.
TFSA growth and withdrawals are tax-free. RRSP contributions are tax-deductible but withdrawals are fully taxable as income. FHSA combines both: deduction on the way in, tax-free withdrawal for a qualifying first home. In a non-registered account, only 50% of capital gains are taxable — model with a roughly 1% lower effective rate.
ProFinanceCast turns one-off calculations into a living 10-year forecast that updates as your income, expenses, and goals change. Free forever for the core forecast.