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It’s a new year and Canadians can invest a fresh $7,000 into their TFSA (Tax-Free Savings Account)! In fact, if you were 18 years or older in 2009 and a Canadian resident, you can now contribute a grand total of $95,000.
The TFSA is an excellent place to invest for the long term. You don’t want to pay taxes on stocks that compound massive gains over your lifetime.
As a result, the TFSA is a great place to hold stocks that you want to own forever. Here are five stocks that are worth holding for years and maybe even decades ahead.
A never-cheap, high-end software stock
Descartes Systems (TSX:DSG) is an exceptional Canadian technology company. Yet, it hardly gets the acclaim that many of its peers do. It operates an essential logistics and freight network that it complements with an array of transport-focused SaaS (Software-as-a-Service) offerings.
The company has a high recurring stream of revenues….
