Written by Puja Tayal at The Motley Fool Canada
The Tax-Free Savings Account (TFSA) has a limit of $7,000 for 2024. But in which stocks should you invest? The overall stock market has been slightly bearish over anticipation of interest rate decisions. A 5% interest rate has dried up money in the market and forced many companies and individuals to divert their funds towards servicing their debt. But those without debt are at a bright spot in terms of investments.
Five Canadian stocks to buy and hold forever in your TFSA
Buying stocks in a market downturn inflates your long-term returns. In 2009, Canada introduced the TFSA to encourage savings habits. Those who invested in strong stocks then are now wealthy and unaffected by the bear market. If you missed the 2009 dip, now is the time to buy the following stocks and hold them for the long term to generate wealth.
Automotive stocks
The stock market has been…
