Simple InterestCompound InterestSimpleBMITwitter RevenueMortgageCGPA, GPA & PercentageInstagram RevenueYouTube RevenueTikTok RevenueTFSAPregnancySleep401k

TFSA Calculator

Enter a starting year to calculate your TFSA contribution room and cumulative capacity.

Calculate TFSA Contribution
TFSA Contribution Room and Cumulative Capacity


Maximize Your Savings with the TFSA Calculator

Overview

The TFSA (Tax-Free Savings Account) Calculator helps you estimate how your savings can grow within a TFSA. This tool considers your contributions, the interest rate, and the compounding period to give you an idea of how much your investment can grow tax-free.

Key Features

  • Tax-Free Growth: Estimate how your savings grow without being taxed on the interest earned.
  • Contribution Tracking: Monitor your annual contributions to avoid exceeding the TFSA limit.
  • Future Value Projection: See how much your TFSA can be worth over time with regular contributions.

How to Use

  1. Enter Initial Contribution: Input the amount you plan to contribute to your TFSA initially.
  2. Set Annual Contributions: Specify how much you plan to contribute each year.
  3. Choose Interest Rate: Provide the annual interest rate your savings will earn.
  4. Calculate: Click the "Calculate" button to project your TFSA balance over time.

Tips

  • Know Your Limits: Keep track of your contributions to avoid exceeding the annual TFSA limit.
  • Start Early: The sooner you start contributing, the more time your investments have to grow tax-free.
  • Maximize Contributions: Try to contribute the maximum amount each year to maximize your tax-free growth.