How Much Does a Typical 45-Year-Old Have Saved in Their TFSA and RRSP?

When it comes to Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP) savings, there’s no clear benchmark for a typical 45-year-old because everyone’s financial situation is different. Some prioritize paying down debt, while others focus on maximizing contributions and growing their investment portfolios.

Still, Statistics Canada data offers a rough but useful picture of retirement savings among Canadians in this age range. The data shows that Canadians aged 45 to 54 who held TFSA assets had an average TFSA asset value of $40,500 in 2023. Among those who held retirement assets, Canadians in this age group had an average of $173,500 in RRSPs, Registered Retirement Income Funds (RRIFs), Locked-in Retirement Accounts (LIRAs), and similar retirement accounts.

Regardless of the exact balance, the quality of the investments held inside those accounts could make a huge difference over time. Businesses that generate reliable cash flow, operate in essential industries, and have opportunities to grow can help investors steadily build wealth for retirement. With that in mind, let’s look at two top Canadian stocks that could be worth considering today for TFSA and RRSP investors.

A transportation giant with long-term advantages

One company that could fit well into a long-term retirement portfolio is Canadian National Railway (TSX:CNR), or CN, due to its scale and stable performance. Headquartered in Montreal, the railway giant operates nearly 20,000 miles of track connecting Canada’s east and west coasts with key markets in the United States.

After climbing 34% over the last six months, CNR stock now trades at $167.94 per share, giving the company a market capitalization of $102.7 billion. At this market price, it also offers a dividend yield of 2.2%, providing investors with a combination of income and growth potential.

A major driver behind CN’s recent performance has been its ability to move more freight while improving efficiency across its network. In the first quarter, the company’s revenue ton miles (RTMs) rose 3% year-over-year (YoY) to a record 61.8 billion, while its gross ton miles also climbed 3% to 118.4 billion. CN also achieved record first-quarter fuel efficiency of 0.892 gallons per 1,000 gross ton miles, a 3% improvement from a year ago, while employee productivity reached its best first-quarter level in five years.

Meanwhile, the company is continuing to invest in its network through a planned $2.8 billion capital program for 2026. With its unmatched rail infrastructure, strong cash flow profile, and continued focus on efficiency, CN stock could deliver long-term value to TFSA and RRSP investors.

A global agriculture leader

Nutrien (TSX:NTR) is another stock that could appeal to investors building retirement savings. Based in Saskatoon, Nutrien is one of the world’s largest providers of crop inputs and agricultural services, serving growers through its Retail, Potash, Nitrogen, and Phosphate segments.

At the time of writing, NTR stock traded at $93.63 with a market cap of $45 billion. Over the last year, its shares have gained 14% with the help of strong customer demand and solid execution across the business. Nutrien currently offers a dividend yield of 3.1%, adding an attractive income component for long-term TFSA and RRSP investors.

In the first quarter of 2026, the company reported net earnings of US$139 million, driven by record potash sales volumes and stronger fertilizer pricing. Similarly, its retail segment benefited from higher crop nutrient sales and improved margins on proprietary products.

In recent quarters, Nutrien has increased its focus on strengthening its core operations and improving capital efficiency. The company is working on initiatives to boost long-term free cash flow while reviewing options for several non-core assets, including its Phosphate business, Trinidad Nitrogen facility, and Brazilian Retail operations.

These efforts could help simplify Nutrien’s business, improve its profitability, and enhance shareholder value over the long term.