Maximum TFSA Impact: 2 TSX Stocks to Help Multiply Your Wealth

If you want to maximize the impact a TFSA (Tax-Free Savings Account) can have on your wealth, make sure you are investing your capital and not just placing it in a “high-interest” savings account (and by high interest, we mean 1% to 3%).

Even though the TFSA is referred to as a savings account, it is more so a compounding account. When you don’t pay any tax on your investment gains, you can increase your annual returns substantially over time.

Don’t waste your TFSA on low “high”-interest savings accounts

If you are just earning 1% to 3% in a savings account, who really cares about the tax you are saving? Those gains are minuscule in comparison to a stock that could double, triple, or 10X your capital. The fact is, if you are only using your TFSA as a savings account, you are losing value to inflation regardless of your tax savings or not.

If you want to multiply your wealth, you are wise to invest in something better than a savings account. Canadians can buy indexes, exchange-traded funds, or individual stocks inside a TFSA. Here at the Fool, we like individual stock portfolios. If you are looking for maximum wealth impact, Stantec (TSX:STN) and TFI International (TSX:TFII) are interesting blue-chip stocks to buy today.

Stantec: A quiet compounder

With a market cap of $11.5 billion, Stantec is a major global engineering, architecture, and environmental firm. After revamping its strategy in 2020, this stock has delivered strong returns. This TFSA stock is up 162% in the past five years and 335% over the past 10 years.

Stantec has been riding on several global tailwinds such as data centre development, major infrastructure renewal, climate change adaptation, and electrical grid improvement. It has used an intelligent acquisition strategy to position its services in the right places at the right time.

Over the past five years, Stantec has demonstrated operating leverage, with low double-digit annual revenue growth and high-teens earnings-per-share growth. This is a well-run business that should continue to grow inside a TFSA for years ahead.

TFI International: A blue-chip stock for the long term

With a market cap of $13.8 billion, TFI International is one of Canada’s largest trucking and transportation firms. While its stock is up 81% in the past five years, it is down around 11% in the past year. This stock is up 730% over the past 10 years!

It has been a difficult freight environment for a few years. Tariffs and trade wars certainly haven’t helped. However, things do appear to be improving. TFI had some underperforming segments in the U.S. that began turning around in recent quarters. It is even gaining momentum from the AI and data centre boom.

Overall, TFI is a well-run, highly cash generative business. It has traditionally deployed that cash into acquisitions. However, with its stock price depressed, TFI aggressively bought back shares. That is the kind of capital allocation a long-term shareholder wants, and that is why TFI could be a great addition for a long-term TFSA portfolio.

The TFSA takeaway

You don’t need to own flashy stocks to earn strong returns in your TFSA. Quality blue-chip companies can deliver exceptional results, especially if you are patient. These investments are sure beat out any type of return you would get from just an interest-bearing savings account. If you want to enjoy tax-free, use stocks to earn big returns inside your TFSA.

The post Maximum TFSA Impact: 2 TSX Stocks to Help Multiply Your Wealth appeared first on The Motley Fool Canada.

Should you invest $1,000 in TFI International right now?

Before you buy stock in TFI International, consider this:

The Motley Fool Canada team has identified what they believe are the top 10 TSX stocks for 2026… and TFI International wasn’t one of them. The 10 stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 … if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $21,827.88!*

Now, it’s worth noting Stock Advisor Canada’s total average return is 102%* – a market-crushing outperformance compared to 81%* for the S&P/TSX Composite Index. Don’t miss out on our top 10 stocks, available when you join our mailing list!

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* Returns as of January 15th, 2026

More reading

• Bank of Canada Hold: 1 TSX Stock I’d Buy Now
• This 1 TSX Stock Looks Built for Trade-Headline Chaos
• 2 Exceptional Stocks for Your $7,000 TFSA Contribution in 2026
• 3 Top Canadian Growth Stocks for February 2026
• Top Canadian Stocks to Buy With $20,000 in 2026

Fool contributor Robin Brown has positions in TFI International. The Motley Fool recommends TFI International. The Motley Fool has a disclosure policy.