{"id":426307,"date":"2026-05-13T22:25:07","date_gmt":"2026-05-13T22:25:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/426307\/"},"modified":"2026-05-13T22:25:07","modified_gmt":"2026-05-13T22:25:07","slug":"heres-how-much-you-may-need-in-your-tfsa-to-retire-and-3-stocks-that-could-help","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/426307\/","title":{"rendered":"Here’s How Much You May Need in Your TFSA to Retire \u2013 and 3 Stocks That Could Help"},"content":{"rendered":"

Most Canadians underestimate how much they need to save in their TFSA to retire comfortably. The tax-free structure of the TFSA<\/a> makes it one of the best long-term wealth-building tools available, provided that investors contribute to the account. With the right approach and stocks, a TFSA retirement strategy can build a tax-free income stream that lasts decades.<\/p>\n

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Source: Getty Images<\/p>\n

How your TFSA supports long\u2011term retirement planning<\/p>\n

The TFSA has become an essential tool for retirement planning because it offers something no other account in Canada does: completely tax\u2011free growth and tax\u2011free withdrawals.<\/p>\n

That means every dollar of dividends, interest, or capital gains grows tax\u2011free and can be withdrawn without added tax. Over time, that compounding effect can accelerate retirement savings.<\/p>\n

Constantly rising living costs make this even more important. Most Canadians need supplemental income beyond what CPP and OAS can provide. This is where a TFSA retirement strategy can help fill that gap.<\/p>\n

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* Returns as of April 20th, 2026<\/p>\n

A simple example shows how powerful this can be: a TFSA worth $500,000 could generate roughly $20,000 per year in tax\u2011free income using the 4% withdrawal rule.<\/p>\n

Consistent contributions to the TFSA are key to meeting that goal. Even modest monthly investments can compound into substantial numbers over a longer period. And once those contributions are made, investing in the right stock that fits the TFSA retirement strategy is the next step.<\/p>\n

Fortunately, there are plenty of great options to help meet that goal. Here are three stellar picks that support the TFSA retirement strategy.<\/p>\n

Slate Grocery REIT offers defensive income<\/p>\n

The first option for investors to consider is Slate Grocery REIT (TSX:SGR.UN<\/a>). Slate is a REIT<\/a> that is focused on grocery\u2011anchored retail properties located across the U.S.<\/p>\n

Necessity-based retailers such as grocers tend to perform well irrespective of how the market fares. That defensive appeal is key for long-term investors looking to build a TFSA retirement strategy.<\/p>\n

Additionally, those retailers tend to draw in more traffic to properties, which provides a boost to secondary tenants on the property. The result is higher occupancy rates, stronger results, and, for investors, consistent income.<\/p>\n

Slate offers investors a monthly distribution that works out to a yield of 7.3%.<\/p>\n

Enbridge is a solid dividend stock for retirees<\/p>\n

The second stock for investors seeking a TFSA retirement strategy is Enbridge (TSX:ENB<\/a>). Enbridge is one of the largest energy infrastructure companies on the continent. Enbridge operates pipelines, utilities and renewable energy assets that generate stable, recurring cash flows.<\/p>\n

The segments also offer significant defensive appeal. The pipeline business charges for use of the network rather than by the price of the commodity. This makes the segment more like a toll road. The segments also boast long-term regulated contracts, which leave room for Enbridge to pay a generous quarterly dividend and invest in growth.<\/p>\n

That dividend currently offers a yield of 5.2% and comes with seven decades of uninterrupted payments. Enbridge has also provided consecutive annual increases to the dividend for three decades without fail.<\/p>\n

For Canadians building a TFSA for retirement, Enbridge offers a perfect mix of stability and long\u2011term income potential.<\/p>\n

Bank of Nova Scotia offers a high\u2011yield with global exposure<\/p>\n

Bank of Nova Scotia (TSX:BNS<\/a>) is one of Canada\u2019s big bank stocks<\/a> and the third option for investors looking for a TFSA retirement strategy. Like its peers, Scotiabank operates a solid domestic segment that generates the bulk of its revenue.<\/p>\n

Where the bank differs from its big bank siblings is that Scotiabank has greater exposure to international markets, which comes with higher growth potential. The result of that mix is a higher yield, impressive results, and a solid option for investors adopting a TFSA retirement portfolio.<\/p>\n

Scotiabank offers a quarterly dividend and has been paying out dividends for nearly two centuries. As of the time of writing, the bank\u2019s yield works out to a solid 4.2%<\/p>\n

What\u2019s your TFSA retirement strategy?<\/p>\n

A TFSA retirement strategy can play a major role in building long\u2011term financial security.<\/p>\n

The trio of stocks mentioned above can provide the income, growth, and defensive appeal to meet that goal.<\/p>\n

In my opinion, one or all of the above should be core holdings in any TFSA portfolio.<\/p>\n","protected":false},"excerpt":{"rendered":"Most Canadians underestimate how much they need to save in their TFSA to retire comfortably. The tax-free structure…\n","protected":false},"author":2,"featured_media":426308,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[138,246,111,139,69,244,245],"class_list":["post-426307","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-new-zealand","tag-newzealand","tag-nz","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/426307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=426307"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/426307\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/426308"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=426307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=426307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=426307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}