Building A Million Dollar TFSA (Tax-Free Savings Account)

Let's talk about building a million dollar TFSA (Tax-Free Savings Account) in Canada! You may be wondering what the TFSA is? How the TFSA works? What the contribution limits are? I'll share my exact plans (with numbers) and how I plan to invest within this account, including the best stocks to buy to hit this goal!

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Disclaimer: The views and opinions shared on this channel are for informational and educational purposes only. Although previously licensed, the contributors are no longer industry participants and are not licensed to provide financial advice. They strive to provide you with educational information in an entertaining manner. Always do your own research and due diligence before investing. Generally speaking, you should consult a licensed investment professional before investing.

[beaviswealth]

I'm so excited to be back! Thanks everyone for bearing with me on my little break off.. I hope you've all been doing well! :D

[cutiecatboy]

damn you weren't joking when you said you wanted to put out better content, you've certainly earned my like! hyped for this because i started investing in my tfsa when i was 18 so the numbers are looking good :)

[teledras]

TD is priced AMAZINGLY right now :) No1 position for me but i continue to add to TD/RY and I sleep well.

[essenceofcanada]

Essentially the perfect video. Nice simple and easy way to give us the type of interesting info that makes our mouth water to see how we can make more money, especially with all the volatility in our world today. Keep up the great work!

[GaryCruz]

As someone who had the same goals at your age, you are definitely on track.

[ab.]

Great content Brandon!! The editing of the video looks very good!! Thank you so much!!

[j.p.]

Really high quality video buddy, could tell the break off refreshed ya

[carson]

Well explained Brandon... welcome back. Nice to watch another video. Dividends are awesome. Thanks again

[JamesTimpson]

Great video! A challenge of dividend investing in Canadian stocks is to make sure you have adequate balance in your portfolio. The highest dividend payers are financials, telecoms and energy stocks. If you want to diversify, you will necessarily need to accept lower ROR. Do your research on the highest dividend payers that cut dividends in times of crisis. Since most investors are there for lucrative dividends, this will send the share price plummeting and will wipe out your dividend returns (think CPG in 2014 after the oil boom). Lastly, Canadian companies that pay USD dividends further amplifies your earnings but avoid holding US stocks in TFSA because you lose 15% to withholding tax.

[fantasyguru]

Have you looked at the dividend growth of Imperial Oil? In 2015 it was $0.54 per share. In 2024 it was $2.40 per share. That's a 16% annual growth rate over 10 years.

[cheynebest]

Rounded second with the weakest 6 month stock market performance in 50 years. This is a great opportunity considering what happend the last time inflation took off. Found success with disruptive companies and mainly being focused on growth. There are many different paths to find financial freedom and you should gather as much information from as many different sources to make informed decisions on your portfolio. Great video!

[teragordon]

Anyone who is not investing now is missing a tremendous opportunity.

[zohahs]

which software are you using at 6:46 I really like the CAGR feature for this one! manythanks its amazing million dollar video in itself I hope you get 1 million views on this! love it!

[rockymtnrdr]

Great video Brandon! I have been DCA into CNR, TD and BAM for years now! Great picks :D

[ItalianStar]

Loved it! You are my favorite Canadian financial youtuber 💗💗💗👍👍👍

[henjer]

Welcome back dude. Love the RAPTORS shirt. Oh ya great video to. Wait is that a RAPTORS shirt????

[snapkutter]

What will the buying power of $1M be in 33 years in today’s dollars?

[Dicesare]

WOW new intro song, fancy edits, and a fresh haircut! Good to see ya

[sailingonasummerbreeze]

Nice video. One can simply hold one of the Dividend Aristocrats funds like NOBL. Has a little more of a management fee (expense ratio = 0.35), but still not outrageous. They do all of the stock picking for you.

[pradeeshma]

Thanks a lot for showing the power of compounding