The $109,000 TFSA Benchmark: Here’s How to See Where You Stand

The TFSA benchmark for 2026 has hit $109,000. This means someone who was at least 18 years old and a Canadian resident when the TFSA launched in 2009 has accumulated that amount of contribution room.

That’s contributions, not the investment value. Investors who contributed the maximum each year may have surpassed that TFSA benchmark in total value.

That also means the $109,000 figure won’t apply equally to everyone. Previous contributions, withdrawals, and unused room can all affect the amount available.

A TFSA balance below that benchmark doesn’t necessarily mean that an investor is behind. A well-funded TFSA with the right investments can still grow over time.

Fortunately, the market provides plenty of options for investors to bolster that account even further.

Three investments to help reach the TFSA benchmark

Making the most of that TFSA benchmark means picking the right stocks and funds for growth and income.

The first stock to help meet that goal is Enbridge (TSX:ENB). Enbridge is an energy infrastructure behemoth with a network of pipelines, natural gas utilities, storage facilities, and renewable assets that generate predictable revenue.

This allows Enbridge to invest in growth and pay a generous quarterly dividend. As of writing, Enbridge offers a yield of 4.9%. It has also provided annual upticks to that payout for 31 consecutive years.

Enbridge is unlikely to deliver the fastest growth in a TFSA. It will, however, generate a growing income stream through reinvestments.

Another simpler option to hit that TFSA benchmark is investing in an ETF, such as iShares S&P/TSX 60 Index ETF (TSX:XIU). The fund offers an alternative to investors who don’t want to choose individual companies.

The ETF tracks the S&P/TSX 60 Index, providing exposure to 60 large Canadian businesses across multiple sectors of the economy.

The fund is one of the largest and most liquid ETFs in Canada, best suited as a TFSA growth holding. The S&P tracker has delivered growth of more than 30% over the trailing 12-month period.

In terms of income, XIU offers a quarterly distribution, but the 2.2% yield isn’t the main goal of this ETF.

Finally, there’s Waste Connections (TSX:WCN), which fills the growth role. Waste collection and disposal are essential services with recurring demand and high barriers to entry.

The company has expanded through price increases, acquisitions, and disciplined operations. This has supported strong growth over the years, including a 6.4% year-over-year revenue increase in the most recent quarter.

The impressive revenue growth, coupled with the sheer necessity it provides, makes this a solid long-term compounder for a TFSA.

Turn the focus on progress, not balance

The $109,000 TFSA benchmark highlights the account’s massive long-term potential. It can also highlight a missed opportunity for some investors. Younger investors, newer residents, and others who were late to start contributing also have less room.

Rather than focusing on that TFSA benchmark, a better measure for investors is whether their TFSA is moving in the right direction.

That’s where the three stocks mentioned above can help.

Broad market exposure through XIU, recurring income from Enbridge, and long-term growth through Waste Connections all play a role in a TFSA portfolio.

Holding those investments inside a TFSA also allows their dividends, distributions, and capital gains to compound without creating a Canadian tax bill.

In my opinion, one or more of the investments above could serve as a core holding within a long-term, well-diversified portfolio.

The post The $109,000 TFSA Benchmark: Here’s How to See Where You Stand appeared first on The Motley Fool Canada.

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More reading

• Is Enbridge a Buy, Sell, or Hold in 2026?
• 2 Strong Canadian Stocks That Raised Their Dividends Again
• One Canadian Dividend Stock to Hold in Any Market
• 3 Ultra-High-Yield Energy Dividend Stocks to Buy and Hold for 2026
• How to Use Your TFSA to Double Your Annual Contribution

Fool contributor Demetris Afxentiou has positions in Enbridge. The Motley Fool has positions in and recommends Waste Connections. The Motley Fool recommends Enbridge. The Motley Fool has a disclosure policy.