An Ottawa couple maxed out their tax-free accounts and grew them to a combined $1.3 million
4 min read · RealCase summary
Bree, an Ottawa accountant nearing retirement, and her husband Kay, a retired laborer four years into retirement, built a combined TFSA worth more than $1.3 million by holding roughly 30 growth stocks and buying to hold rather than trade.
Bree started buying Shopify in 2016 after touring the company's Ottawa office in the Performance Court tower on Elgin Street and being struck by the workplace -- private cubby spaces, nature-themed decor, a slide next to a fully stocked cafeteria. At an investment-club meeting in 2018, other members argued for taking profits; she held on instead. She sold off sizable portions of the position by mid-2022, banking gains she put "well into the six figures," after the stock had surged through the pandemic-driven online shopping boom. She later added Nvidia on a tip from the 5i Research investment service.
The couple sourced other ideas from BNN's Market Call and from a friend met 15-20 years earlier at a TD Waterhouse workshop. Not every pick worked -- many were losers -- but the concentrated winners more than made up for them. A mortgage-free home and a separate $1.3 million in conservative assets (RRSPs and non-registered accounts) give them an additional cushion.
Key takeaways
- ›Maxed out annual TFSA contribution room every year rather than letting room go unused
- ›Built a concentrated but diversified portfolio of about 30 stocks weighted toward growth companies
- ›Held through market swings rather than trading; combined balance reached CA$1.3 million+ (~US$950,000)
Original source
Read the original (The Globe and Mail)
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