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TFSA Investors: Where to Invest $6,000 Right Now Image source: Getty Images
Investing in the TFSA (Tax-Free Savings Account) should be prioritized, as this registered account is tax sheltered. It means while any contributions to this account are not tax deductible, withdrawals in the form of capital gains, dividends, or interests are exempt from Canada Revenue Agency taxes.
It suggests the TFSA is ideal to hold dividend and growth stocks that can create massive wealth over the long term. The TFSA contribution limit for 2021 is $6,000, and you can diversify your equity holdings by investing across sectors.
TFSA growth stocks
Growth stocks have the potential to increase your investments at an exponential rate. For example, an investment of $1,000 just after
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