Calculator: Build your own million-dollar TFSA

Rob Carrick Personal Finance Columnist

MICHAEL PEREIRA

Published April 15, 2016 Updated June 19, 2017

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

The TFSA contribution limit grows with inflation

2016 contribution limit

Annual inflation rate

Each limit increase

Make your million

Number of years that
I will contribute

Expected annual
rate of return

Dollar amount that
I will start with

I will maximize my annual contribution.

Dollar amount I will contribute annually

Percentage my contributions will rise annually

Follow Rob Carrick, on Twitter @rcarrick

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