How this calculator works
Enter the current TFSA balance, the amount you plan to contribute at the end of each year, an expected annual return and the number of years. The projection compounds the return once a year and adds each contribution at year end. Total contributions are the yearly amount multiplied by the number of years. Growth is the final balance minus the starting balance and total contributions. The 2026 TFSA dollar limit is $7,000. Unused room from earlier years can allow more than $7,000 in a year, but this calculator does not track your personal room, withdrawals or over-contributions. Returns are assumed constant, and fees, inflation and taxes are excluded. Investment income and withdrawals from a TFSA are not taxable.
Formula
F = B(1+r)^n + C((1+r)^n - 1)/r, where B is the current balance, C is the yearly contribution, r is the annual return as a fraction and n is the number of years. Total contributions = C x n. Growth = F - B - C x n. At r = 0, F = B + C x n.
Worked example
Starting with $20,000, contributing $7,000 at the end of each year for 20 years and earning 5% a year gives $284,527.63. Contributions are $140,000 and growth is $124,527.63. The $7,000 yearly contribution is within the 2026 TFSA dollar limit for a single year.
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Frequently asked questions
Does the calculator check my TFSA room?
No. It projects a contribution plan. Check your personal room in CRA My Account or on your Notice of Assessment before contributing.
Are contributions made at the start or end of the year?
At the end of each year, after that year's return has been applied.
What about withdrawals?
They are not modelled. Under CRA rules, a withdrawal restores room on January 1 of the following year.
Is the return guaranteed?
No. The projection uses one constant return. Real investments vary, and a TFSA can lose value.