Canadian Investors: The Best $14,000 TFSA Approach

Some investors treat a Tax-Free Savings Account (TFSA) like a trading account. Buy something exciting, watch it move, then switch again. While that can work for a while, it often leads to stress and missed opportunities in the long run. A better option is to give every dollar a purpose.

With a $14,000 TFSA, splitting the portfolio can make things much clearer. One-half of the TFSA money can focus on growth and future potential. The other half can focus on income and dependability. This setup could allow investors to stay invested in reliable dividend stocks even during market volatility while still letting them benefit from long-term growth trends. At the same time, it will also reduce the urge to overreact to short-term price moves. When done right, this strategy can turn any TFSA into a steady wealth builder.

Now, let’s take a closer look at two top TFSA stocks that align with this balanced approach – one that offers high-growth potential and another that delivers dependable dividend income.

MDA Space stock

To cover the growth side of top TFSA stocks, MDA Space (TSX:MDA) could fit perfectly. This Canadian space tech firm operates across satellite systems, space robotics, and geointelligence services.

After rallying by 373% over the last three years, MDA stock is currently trading at $26.99 per share, giving it a market cap of roughly $3.4 billion. It does not pay a dividend, which keeps its focus firmly on reinvesting capital to support expansion.

In the third quarter of 2025, the company’s revenue climbed 45% YoY (year-over-year) to $409.8 million with the help of higher activity in its satellite systems and robotics programs. On the profitability side, its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the quarter rose 49% YoY as higher work volumes helped it maintain strong margins of nearly 20%.

What strengthens MDA’s long-term growth outlook is strong visibility. Notably, the firm ended the latest quarter with a $4.4 billion backlog, which will support its revenue beyond 2025. Overall, its ongoing investments in digital satellite technology, the SatixFy acquisition, and major programs like Telesat Lightspeed are likely to help it benefit from surging global demand for space infrastructure.

Enbridge stock

And for dependable cash flow inside a TFSA, Enbridge (TSX:ENB) is definitely worth considering. This Calgary-based energy infrastructure giant runs oil pipelines, natural gas transmission assets, regulated utilities, and renewable power assets across North America.

After climbing nearly 8% over the last year, ENB stock is now trading at $64.40 per share with a market cap of about $140 billion. It pays a quarterly dividend and currently offers an annualized dividend yield of roughly 6%, which can serve as a dependable income anchor.

In the September 2025 quarter, Enbridge’s adjusted EBITDA reached $4.3 billion, supported by high system utilization and stable regulated returns. Meanwhile, the company’s distributable cash flow came in at $2.6 billion, which continues to comfortably support its solid dividend payments.

Moreover, Enbridge’s longer-term outlook is supported by strong execution and years of planning. Recently, the company reaffirmed its 2025 guidance and continues to expand its pipeline, gas storage, and utility operations. With around $35 billion in secured growth projects expected to enter service through 2030, this Canadian dividend stock could offer consistent income inside a TFSA.

The post Canadian Investors: The Best $14,000 TFSA Approach appeared first on The Motley Fool Canada.

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More reading

• Which Dividend Stocks in Canada Can Thrive Through Rate Cuts?
• 3 Reasons to Buy Enbridge Stock Like There’s No Tomorrow
• Here’s What’s Driving the TSX’s Top-Performing Stocks
• 3 Must-Own Blue-Chip Dividend Stocks for Canadians
• 3 TSX Stocks to Prepare for a Potential Bear Market

Fool contributor Jitendra Parashar has positions in Enbridge and MDA Space. The Motley Fool recommends Enbridge. The Motley Fool has a disclosure policy.