If you\u2019re in your 20s and you feel like you \u201cshould\u201d have a big Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP) already \u2026 relax. Most people your age are still figuring out rent, tuition, and how to eat something other than pasta. The CRA\u2019s TFSA data puts the average TFSA fair market value for Canadians aged 20 to 24 at about $7,894, so a typical 20-year-old sits somewhere around that neighbourhood, not at a maxed-out account. (This figure comes from the CRA\u2019s 2025 TFSA statistics, which use 2023 contribution year data. It\u2019s the most current available.)<\/p>\n
On the RRSP side, most 20-year-olds have little to nothing saved, mainly because very few even contribute yet. StatsCan data shows only about 5.1% of tax filers aged 0 to 24 reported an RRSP contribution in 2022, and the median contribution among that group was about $1,800.<\/p>\n
So the big consideration in your 20s is not \u201cbalance bragging rights.\u201d It\u2019s building the habit, keeping the money flexible if you might need it, and investing in your TFSA first in many cases because withdrawals don\u2019t create future tax headaches. Here are a few stocks to consider adding to your TFSA \u2014 in whatever amount you can spare.<\/p>\n
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Source: Getty Images<\/p>\n
EQB <\/p>\n
EQB (TSX:EQB<\/a>) is one of the clearest \u201cgrowth bank\u201d stories in Canada, and it\u2019s doing it without trying to be one of the old-school Big Six banks. It runs Equitable Bank and EQ Bank, focusing on alternative mortgages, commercial lending, and digital banking. The bank had a big leadership transition over the past year: Long-time CEO Andrew Moor died unexpectedly in June after 18 years leading the company. Chadwick Westlake, the former CFO, took over as CEO in August. He\u2019s moved quickly \u2014 cutting 8% of the workforce and refocusing the bank on operating efficiency and a return to a 15%+ return on equity target.<\/p>\n The significant growth move here is EQB\u2019s agreement to acquire PC Financial from Loblaw for approximately $800 million. The deal would add the PC Mastercard portfolio (over 2 million active accounts), more than $5.8 billion in assets, and distribution through roughly 2,500 Loblaw stores, effectively plugging EQB into the PC Optimum loyalty ecosystem and its 17.5 million members. The deal has cleared the Competition Bureau but still requires OSFI and Finance Minister approval.<\/p>\n In its first quarter of fiscal 2026, EQB reported adjusted diluted EPS of $2.26 and adjusted net income of $85.2 million. Adjusted revenue came in at $306.8 million. The current valuation looks reasonable for a growing company, with a trailing P\/E around 17.7.<\/p>\n The forward-looking question is whether the new leadership team can keep growing while managing credit risk and funding costs, and whether the PC Financial deal closes and integrates smoothly.<\/p>\n BDGI <\/p>\n