Here’s the Average Canadian TFSA and RRSP at Age 35

By age 35, many Canadians start asking bigger financial questions. Am I saving enough? Should I focus more on my Tax-Free Savings Account (TFSA) or my Registered Retirement Savings Plan (RRSP)? And perhaps most importantly, are my investments actually helping me build long-term wealth?

According to recent Statistics Canada figures based on 2023 tax filings, Canadians aged 35 to 44 contributed a median of $3,600 to RRSPs and $3,300 to TFSAs. Those using both accounts contributed a combined median of $10,840.

These numbers clearly suggest Canadians are becoming more intentional about balancing tax savings today with tax-free growth for the future. They also show how TFSAs are continuing to gain momentum among investors looking for flexibility.

A top TSX stock for your TFSA and RRSP

Of course, contributing money to your TFSA and RRSP is only part of the process. What you invest in inside those accounts could make a big difference over time. That’s why investors need durable businesses capable of generating dependable returns through changing economic conditions, like TC Energy (TSX:TRP).

With a massive North American infrastructure footprint, strong recent performance, and reliable dividends, this TSX stock could offer the kind of long-term stability many TFSA and RRSP investors look for.

After climbing more than 30% over the last year, TC Energy’s shares currently trade at $89.69 apiece, giving it a market cap of nearly $94 billion. This recent rally reflects investors’ growing confidence in its business model and long-term outlook.

In addition, the company also pays quarterly dividends that currently yield 3.9%, which can offer Foolish investors a stable stream of passive income alongside potential capital appreciation.

Understanding its business

TC Energy’s operations are primarily divided into two segments: natural gas pipelines and power and energy solutions. Its pipeline network plays an important role in transporting natural gas to utilities, power plants, and liquefied natural gas export terminals across North America. Meanwhile, its power business includes roughly 4,650 megawatts of generation capacity sourced from nuclear, natural gas, wind, and solar assets.

This diversified business model provides TC Energy with stable cash flow while also positioning it to benefit from the increasing demand for cleaner and more reliable energy solutions.

Strong financial momentum supports its upside

In the first quarter of 2026, the company posted comparable EBITDA (earnings before interest, taxes, depreciation, and amortization) of $3.1 billion, reflecting a 14% year-over-year (YoY) increase. Its segmented quarterly earnings also rose 10% YoY to $2.2 billion.

The growth was mainly driven by strong operational execution across TC Energy’s natural gas pipeline and power generation businesses. Interestingly, the company has continued to focus heavily on safety, reliability, and operational efficiency, which remain essential in the energy infrastructure industry.

At the same time, TC Energy is investing in future growth opportunities as it recently approved the US$1.5 billion Appalachia Supply Project. This project is expected to strengthen the company’s reach in a high-demand region while supporting its additional long-term revenue growth.

A long-term fit for TFSA and RRSP investors

For investors looking to maximize their TFSA or RRSP over decades, consistency matters just as much as growth. TC Energy’s combination of stable infrastructure assets, dependable cash flow, and dividend income makes it an attractive option for long-term portfolios.

The company’s growing focus on low-carbon energy solutions also gives it an edge as the energy sector evolves. Similarly, its investments in renewable energy and cleaner power generation could support its future growth and reduce its dependence on traditional energy markets. Given all these positive factors, this Canadian energy giant could be worth serious consideration right now, especially for investors planning to put their TFSA and RRSP contributions to work more effectively.

The post Here’s the Average Canadian TFSA and RRSP at Age 35 appeared first on The Motley Fool Canada.

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More reading

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• Beat the TSX With These Cash-Gushing Dividend Stocks

Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.