Here Are the Typical Canadian TFSA and RRSP Contributions at Age 45

Saving consistently is important, but choosing the right investments matters just as much. Here are two top Canadian stocks that could be worth adding to your TFSA and RRSP today.

Jitendra Parashar

Author Bio Jitendra Parashar is a financial journalist who has been writing for The Motley Fool Canada since June 2020. With more than 13 years of experience in financial journalism, equity research, and market analysis, he helps investors understand market developments and identify long-term investment opportunities. Before joining The Motley Fool Canada, Jitendra spent several years at Market Realist covering U.S. equities, major economic developments, and developments in the automotive and technology industries. He also worked in commodity and currency research at brokerage firms, gaining insight into how economic trends, central bank decisions, and geopolitical events influence financial markets. Jitendra writes for beginner investors, dividend seekers, and Canadians looking to build wealth over the long term. He also contributes to the daily TSX Today series, explaining key Canadian market developments and highlighting news investors should watch. Based in India, Jitendra follows Canadian and U.S. markets closely. Outside of work, he enjoys travelling in the Himalayas, street and nature photography, and exploring programming and artificial intelligence. Education MBA in Finance and International Business Bachelor's degree in Journalism Areas of Expertise Canadian and U.S. financial markets, long-term equity investing, dividend investing, macroeconomic and geopolitical trends, automotive stocks, emerging technologies, and artificial intelligence. Social Media Profiles LinkedIn Muck Rack Favorite Investment Quote “Simplicity is the master key to financial success.” — John C. Bogle

Published June 29, 9:45 pm EDT

If you’re around 45, you’ve probably wondered at some point whether you’re saving enough for retirement. It’s not always easy to answer that, but new Statistics Canada data for the 2023 tax year gives us a useful way to compare. Canadians aged 45 to 54 made a median Registered Retirement Savings Plan (RRSP) contribution of $4,330 and a median Tax-Free Savings Account (TFSA) contribution of $5,200 in 2023. While those numbers won’t match everyone’s situation, they can give you a better idea of whether you’re keeping pace with others in the same stage of life.

While saving is an important step toward building long-term wealth, selecting the right investments matters just as much. With that in mind, let me highlight two top Canadian stocks to consider for your TFSA and RRSP today.

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Brookfield Asset Management stock

Once you know how much Canadians in this age group are putting aside, the next step is making that money work harder inside a TFSA or RRSP. And Brookfield Asset Management (TSX: BAM) could be a good example of a stock with the potential to compound wealth over the long term. It’s a global alternative asset manager with more than US$1 trillion of assets under management. It invests across infrastructure, energy, private equity, real estate, and credit.

At the time of writing, BAM stock trades at $63.21 per share with a market cap of about $103.8 billion. It also offers a 4.4% annualized dividend yield. The stock has struggled recently, slipping about 16.3% over the last year and trading nearly 28.3% below its 52-week high.

That weakness could make BAM worth a closer look for long-term TFSA and RRSP investors. In the first quarter of 2026, the company raised US$21 billion and took its year-to-date fundraising to US$67 billion. Its fee-related earnings, or the earnings it generates from management and advisory fees, rose 11% year-over-year (YoY) to US$772 million.

BAM’s long-term growth story remains tied to its ability to raise and deploy capital across large global investment themes. The company also had US$137 billion of uncalled fund commitments at the end of March, which could support future fee growth as capital is invested. For investors building retirement wealth, that makes BAM a top Canadian stock for TFSA and RRSP accounts to consider on the dip.

Nutrien stock

After Brookfield, another way to build a stronger retirement portfolio is to look at businesses tied to essential global needs. Nutrien (TSX: NTR) fits that description well. This Saskatoon-based provider of crop inputs and services operates retail, potash, nitrogen, and phosphate businesses, helping serve farmers across major agricultural markets.

After climbing around 10% over the last year, NTR stock now trades at $86.55 per share with a market cap of about $41.5 billion. It offers a 3.5% annualized dividend yield.

Its latest results showed clear improvement despite macroeconomic uncertainties. In the first quarter, Nutrien’s sales rose 19% YoY to US$6 billion. Similarly, its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) jumped 30% YoY to US$1.1 billion.

The increase was driven by higher fertilizer benchmarks, stronger Retail earnings, and record Potash sales volumes. At the same time, its retail segment’s performance also improved sharply as crop nutrient sales volumes increased and proprietary product margins strengthened in the U.S. and Australia.

Moreover, Nutrien is keeping its long-term priorities intact. Recently, it reaffirmed its 2026 guidance, continued mine automation in Potash, and is reviewing strategic alternatives for its Phosphate business, Trinidad Nitrogen facility, and Brazilian Retail business. For TFSA and RRSP investors, NTR offers income, scale, and exposure to global food demand.