Your First Real Job

What to understand

• If $100 a month fits your budget, that is $1,200 contributed over a year before any growth. A smaller amount is a valid starting point too.
• Set aside accessible emergency savings and weigh expensive debt against investing. Review any employer matching program before deciding where the next dollar goes.
• Keep near-term money accessible and choose investment risk around when you will need the money.

What to understand

• The 2026 TFSA annual dollar limit is $7,000. Your own available room depends on eligible years of Canadian residency, age, contributions, and withdrawals; it is not automatically $7,000.
• Unused room carries forward. Withdrawals generally become available to contribute again on January 1 of the next year, not immediately.
• Check your own account records alongside CRA information, which may not reflect recent transactions. A TFSA can be a useful starting point when flexibility matters.

What to understand

• New RRSP room for 2026 generally starts with 18% of 2025 earned income, capped at $33,810, then adjusted for pension participation and other applicable adjustments. Unused room may carry forward.
• Use your latest CRA notice of assessment and contribution records to check your personal available room before adding money.
• An RRSP deduction may be more valuable at a higher tax rate, but income alone does not decide the answer. Employer matching, benefit eligibility, and your goals also matter; ordinary withdrawals are generally taxable.