Rob CarrickPersonal Finance Columnist
MICHAEL PEREIRA
This article was published more than 3 years ago. Some information in it may no longer be current.
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Try your hand at building tax-free, million-dollar savings with The Globe's TFSA calculator.
First, fill out three fields: the number of years you plan to contribute, your expected rate of return, and the dollar amount you're starting with. If you don't plan on making maximum contributions, uncheck the box and fill out two more fields.
Your input will generate the total projected value of your TFSA. Scroll down to see an annual breakdown of your finances. And if you don't hit the million-dollar mark, adjust your numbers to see how seven-figure savings are built.
Million dollar TFSA
TFSA value over time
- Investment return
- Contribution
- Start of year value
Investment return
Total contribution
Total value
The TFSA contribution limit grows with inflation
Make your million
Annual breakdown
| Year | Limit | Start of year value | Contribution | Investment return | End of year value |
|---|
Follow Rob Carrick, on Twitter @rcarrick