Investment · TFSA
TFSA growth calculator.
A tax free savings account calculator for the long game. Project your balance each year and find how many years you need to reach a goal.
Contributing $7,000 a year at 6% reaches $92,265.56 after 10 years from a $0 start, and passes $100,000 in year 11. Starting with $20,000 and adding $7,000 a year at 6%, you reach $1,000,000 in year 37.
Inputs
Result
Enter your numbers.
How the projection works
Each year the balance grows by your return and then your contribution is added: balance ← balance × (1 + return) + contribution. The goal row repeats that until the balance reaches your target, up to 100 years. Everything in a TFSA is tax-free to grow and to withdraw, so there is no tax line to subtract.
Worked example. Starting at $0 and adding $7,000 at each year end at 6% gives $92,265.56 after 10 years: 7,000 × (1.0610 − 1) ÷ 0.06. The balance first passes $100,000 in year 11. From $20,000 with $7,000 a year, the balance is $321,641.85 after 20 years, of which $161,641.85 is growth, and $1,000,000 arrives in year 37.
Contributions are limited by room. The 2026 annual limit is $7,000, and your total depends on when you became eligible: use the contribution room calculator to see yours. The TFSA calculator covers the same ground with a simple return input, and this page adds the year-by-year goal search.
Frequently asked questions
Is growth inside a TFSA taxable?
Generally no. The CRA says income earned through interest, dividends or capital gains in a TFSA is generally tax-free, and withdrawals are tax-free. Contributions are not tax deductible.
What return should I enter?
Use a conservative figure and try several. Real returns vary year to year and are never guaranteed, and a TFSA holding a savings account earns far less than one holding equities. The result is only as good as the rate you type.
Can I contribute $7,000 every year?
The 2026 annual limit is $7,000 and unused room carries forward, so $7,000 a year is within the limit if you have not used earlier room. Future annual limits are set by the CRA and may differ from $7,000.
Why does a year-end contribution matter?
The tool adds your contribution at the end of each year, so it earns nothing in the year it is made. Depositing earlier in the year would give a somewhat higher balance.
Sources
Checked
- CRA: What is a TFSA
- CRA: MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPE (TFSA dollar limit by year, 2009 to 2026)
- CRA: Calculate your TFSA contribution room
Runs entirely in your browser. Nothing you type is sent or stored. This is an independent guide, not the CRA; confirm your own room in CRA My Account or your institution's records.
Not advice
Illustration only. Rates and returns are assumptions you set, never guarantees. Not financial, tax or investment advice.