The Account Buckets
Different accounts have different rules. Know the game to win it.
Tax-Free Savings Account (TFSA)1
The golden child of Canadian personal finance.
Registered Retirement Savings Plan (RRSP)2
The tax-deferral machine.
First Home Savings Account (FHSA)3
The best of both worlds.
Non-Registered (Investment) Account
The overflow bucket.
Registered Education Savings Plan (RESP)4
Free money for school.
Registered Disability Savings Plan (RDSP)5
Long-term security for disabilities.
1 TFSA limit is for the 2026 tax year. Contribution room accumulates if unused.
2 RRSP limit is for the 2026 tax year, up to $33,810 (lesser of 18% of earned income or the maximum). Pension adjustments may reduce this.
3 FHSA annual limit. Lifetime maximum of $40,000. Carry-forward rules apply.
4 RESP contributions have a $50,000 lifetime limit per beneficiary. Government grants apply on the first $2,500 annually.
5 RDSP has a $200,000 lifetime contribution limit. Grants and bonds are income-tested and can be substantial.
* Contribution room for the year depends on any carry over or other factors for these accounts. Always check your CRA My Account.
Financial Wisdom
Read our latest articles.
7 Money Traps That Keep You Broke
From ignoring the 50/30/20 rule to letting cash rot in your TFSA. Here are the most common mistakes beginners make—and how to fix them.
The Magic of Compound Interest
Compound interest is the eighth wonder of the world. He who understands it, earns it... he who doesn't... pays it.