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Many rich people did not have a large inheritance but made their fortune in the stock market. These self-made millionaires started with little and built their wealth over time by saving and investing. Stocks are more volatile than other investments, although they can deliver the highest possible returns.
If you have a long-term financial goal, there are four standout, must-buy Canadian stocks today. Accumulate shares if finances allow, hold them in a Tax-Free Savings Account (TFSA), and be your way to becoming a millionaire.
Big bank
Bank of Nova Scotia (TSX:BNS), Canada’s fourth-largest bank, is a proven millionaire-maker owing to its 192-year dividend track record. This $90.76 billion financial institution also pays the highest dividend among the Big Six banks. At $72.86 per share (+18.62% year to date), the dividend yield is 5.78%.
Management’s new strategy announced in December 2023 is to…
