Pumping RRSP to use return for annual TFSA limit, plus using emergency fund?
Hi everyone.
39M located in Ontario.
Annual salary 120k, federal job with DB pension, retirement age 59/60 for 70%
Make 140-150k annually with overtime for the last 5 years.
TFSA 150k - Maxed in 2025 and have not utilized that 7k this year yet.
RRSP 130k - 55k contribution room remaining.
Emergency fund - 9k in high interest savings account.
I make an additional 40k through a side hustle that I only utilize to fund my TFSA and RRSP which makes my total income for 190k annually.
Since I maxed my TFSA in 2025 I am switching to funneling all savings money (30k net annually) into my RRSP and using the tax return to fill my TFSA contribution room (7k this year)
in 2025 so far (until 02 March) I have contributed 22k into my RRSP.
I have a secure federal job, and the 40k annual from my side hustle is extremely secure.
My question is should I use my 9K emergency fund to pump into my RRSP and pay it back within 3 months?
Goal is also to increase the emergency fund to 15k.
My emergency fund is a little lower due to my side extremely secure side hustle.
Thanks for any thoughts.
Posted Mar 1, 2026, 1:55 AM UTC · locked