Written by Puja Tayal at The Motley Fool Canada
Every Canadian above 18 years can invest through a Tax-Free Savings Account (TFSA) and grow their investments tax-free. Since you don’t have to pay any tax on the investment income, the TFSA is an ideal account to invest in high-growth and high-yield stocks that have the potential to make you a millionaire in the long term.
Four stocks every Canadian should have in a TFSA
Consider building a diversified TFSA portfolio across different asset classes, sectors, and stock types to ensure multiple sources of income and profits. Each asset class, sector, and stock has a different return potential. They react differently to a situation, giving you the best of all scenarios. Here, I have identified four stocks across asset classes and sectors you should consider having in your TFSA. However, the allocation of funds can differ as per your risk appetite.
