WHICH ACCOUNT SHOULD I INVEST IN? - TFSA VS RRSP VS FHSA VS RESP

Not sure whether to invest in a TFSA, RRSP, FHSA, or RESP? This calculator compares tax benefits and long-term growth to help you decide where to invest money in Canada. Use it to see how contributions, investment returns and tax impacts differ between TFSA vs RRSP vs FHSA vs RESP, or explore specific comparisons like TFSA vs RRSP, RESP vs TFSA or RESP vs RRSP. By modelling contributions and potential returns, the tool highlights the advantages of each registered account type so you can make smarter, tax-efficient investment choices.

Which Account Should I Invest In?

Initial contribution (after-tax dollars) Annual contribution (after-tax dollars) Expected annual growth rate (%) Timeline (1–50 years)

Include account types

Select the accounts to compare. Relevant fields appear below.

Tax Info

Province & income enable tax rate estimates for RRSP/FHSA/Taxable. You can also enter a marginal rate directly.

Province Income (current)

Marginal tax rate now (%)

Withdrawal Tax (RRSP & FHSA)

Expected income at withdrawal

Marginal tax rate at withdrawal (%)

FHSA Options

Use FHSA funds for a qualifying home purchase?

FHSA withdrawals are tax-free if used for a qualifying home purchase. Otherwise withdrawals are taxed as income.

RESP Options

Adjusted family net income Number of beneficiaries Student marginal tax rate at withdrawal (%)

Assumes all funds are used for qualifying education. Canada Education Savings Grant (CESG) is applied automatically using CRA income brackets.

Taxable Account Options

Annual return split: Income vs Capital Gains (%) 40% of annual return taxed as income; the rest as capital gains using a 50% inclusion rate.

Account	Value at end	Notes

Disclaimer: All information shown is illustrative and for general educational purposes only. Results are estimates and do not account for all variables. This information is not intended to be comprehensive investment, tax, financial, or legal advice, and should not be considered personal investment advice, an offer, or a solicitation to buy or sell investment products. Every effort has been made to ensure the information is accurate; however, accuracy cannot be guaranteed. Tax rules and other factors change frequently, and past performance does not guarantee future results. Investing involves risk, including the potential loss of principal. Hemisphere Capital Management Inc. accepts no responsibility for decisions made in reliance on this information. Please consult a portfolio manager before making any investment decisions. This information is intended for residents of Canada and may not apply in other jurisdictions.

WHICH ACCOUNT SHOULD I INVEST IN? - TFSA VS RRSP VS FHSA VS RESP