Your TFSA in 20 years
$0 lump + $500/mo · 6.0% return · Ontario 2025
Final value (gross)
$231,020
statement value
Final value (after-tax)
$231,020
what you keep
Total contributions
$120,000
money you put in
Total growth
$111,020
93% on contributions
How it accumulates
contributions (gold) and growth on them (navy)
Money in vs. returns
48% of the final value is growth
The same money, four account types
gross statement value vs. what you actually keep after tax — the tax-drag gap on one screen
| Account | Gross | After-tax | Tax cost vs. TFSA |
|---|---|---|---|
| TFSA Best | $231,020 | $231,020 | — |
| RRSP | $231,020 | $231,020 | — |
| Non-registered | $183,832 | $183,832 | 20.4% |
| Corporate (CCPC) | $186,324 | $108,608 | 53.0% |
A negative tax cost (shown in green) means that account beats the TFSA after tax. The RRSP after-tax value includes its reinvested tax refund (a parallel TFSA), so it can exceed the RRSP statement value when your withdrawal rate is below your contribution rate.
The statement value isn't the spendable value.A TFSA's gross and after-tax figures are the same — every dollar is yours. An RRSP is taxed on the way out, so its real worth depends on your withdrawal bracket; a corporate account is taxed inside the company and again as a dividend when you take it out. The comparison above shows each account's after-tax result side by side, which is the number that actually funds your retirement.
Assumptions & limitations
Ontario resident, 2025 combined rates; the corporate scenario assumes a CCPC. A constant annual return for the whole period — a smooth straight-line projection with no volatility, sequence-of-returns risk, or Monte-Carlo modelling. Contributions are end-of-period; monthly contributions compound monthly. TFSA / RRSP contribution limits are shown as notes, not enforced — over-contribution penalties are not modelled. The RRSP is modelled as full deductibility at the marginal rate (refund shown separately), tax-sheltered growth, and a single flat withdrawal rate — not the full bracket build-up, pension credits, or OAS interactions. Non-registered uses a blended annual tax drag that simplifies capital-gains deferral (taxed as earned). The corporate model uses a simplified RDTOH-recovered-at-exit, non-eligible-dividend extraction and ignores the capital dividend account, GRIP/eligible-dividend nuances, salary alternatives, and associated-corporation effects.
This tool is for illustration purposes only and does not constitute financial advice.
See the terms of use for full disclaimers. Rates must be re-verified annually.