Free Tool

TFSA + RRSP Optimizer

6 questions. Personalized order of operations for your accounts. No more "which one should I fund first."

1. Do you have high-interest debt (credit card, line of credit at 8%+)?

2. Do you have an emergency fund (at least $1,000)?

3. Your current marginal tax bracket?

4. Do you expect to earn more in retirement than now?

Most people earn less in retirement. If unsure, pick "less".

5. Are you saving for a first home in the next 5 years?

First-time means you haven't owned a home you lived in for at least 4 calendar years.

6. Does your employer match RRSP contributions?

A "group RRSP" with employer match is free money. Always.

Answer the 6 questions above to see your personalized order.

Why this is more than a yes/no question

Everyone says "TFSA before RRSP" or vice versa as if it's a fixed rule. It isn't. The right order depends on your tax bracket, retirement expectations, debt, life goals, and what your employer offers.

The general rules of thumb (oversimplified)

Lower tax bracket today: TFSA first. You're not paying enough tax for the RRSP deduction to matter much.
Higher tax bracket today, expecting lower in retirement: RRSP first. The deduction is worth more than the future tax.
Employer RRSP match: Always grab the free money first, before anything else.
Saving for first home: FHSA first (best of both worlds — tax-deductible AND tax-free withdrawal for the home).

The standard order this optimizer uses

High-interest debt (anything 8%+) - 100% guaranteed return by paying it off.
$1,000 starter emergency fund - Don't invest if a flat tire would put you back in debt.
Employer RRSP match - Free money. Take it.
FHSA - If you're saving for a first home in 5 years.
TFSA or RRSP - Order depends on your tax bracket and retirement expectations.
Full 3-6 month emergency fund - Build alongside, not before, investing.
Non-registered (brokerage) - Only after the above are maxed.

Why employer match always wins

If your employer matches 3-9% of salary into a group RRSP, that's an immediate 50-100% return on your contribution. No other investment gives you that. Take it before anything else, including paying down debt (the math usually works out unless you have credit card debt at 20%+).

The FHSA changed everything for first-time buyers

Launched in 2023. Tax-deductible contributions (like RRSP) + tax-free growth + tax-free withdrawals for a first home (like TFSA). Triple-dipped tax savings. If you might buy a home in the next 5-15 years, max your FHSA before your regular TFSA.

This optimizer gives general guidance based on your inputs. Specific situations (rental income, capital gains harvesting, business ownership, immigration status) may change the answer. Coaching covers your specific case.

See the Coaching Program

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