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Here's What Average 25-Year-Olds Have in a TFSA and RRSP Account [Yahoo! Finance Canada]

Bank Of Montreal (BMO) 
Last bank of montreal earnings: 2/25 06:00 am Check Earnings Report
The most current CRA data — from the 2023 contribution year — shows Canadians aged 25 to 29 had an average TFSA fair market value of about $13,149. The RRSP picture is harder to pin down precisely for that specific age, but Statistics Canada data from 2019 (the most recent available for RRSP balances by age) suggests Canadians under 35 had about $9,905 in RRSP savings on average. Neither number is life-changing on its own. The encouraging part is that at 25, time matters more than the starting balance. A smaller amount invested early can do far more work than a bigger amount invested late. [Related: TFSA vs. RRSP: Which is Right for You? ] Getting Started: TFSA First, Habit Always For most 25-year-olds, the TFSA often makes the most sense as the first stop. It gives you flexibility, tax-free growth, and no tax bill if you need to pull money out later for a car, a home goal, or just life doing what life does. The RRSP is still valuable — especially if your income is climbing and Show less Read more
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