The Best Stocks to Invest $1,000 in a TFSA Right Now

Putting $1,000 into a Tax-Free Savings Account (TFSA) is a great opportunity for any investor. Even a small amount can grow surprisingly fast when paired with the right stocks, since every dollar of dividends and gains compounds tax-free for life. With consistent contributions and smart stock selection, $1,000 becomes the seed that builds a powerful, lifelong wealth engine. So, let’s look at some of the best options.

BLX

Boralex (TSX:BLX) is a leading Canadian renewable energy company focused on wind, solar, and hydro projects across Canada, France, and the United States. It offers long-term power-purchase agreements that lock in predictable revenue for years at a time. The company continues to expand its development pipeline and has positioned itself as a key player in Europe’s and North America’s energy transition. This gives it a long runway for growth as demand for clean electricity accelerates.

In its most recent earnings results, Boralex reported steady growth in segmented earnings before interest, taxes, depreciation, and amortization (EBITDA). This was driven by stronger wind production in Europe and contributions from newly commissioned projects. Revenue increased year over year, reflecting higher energy prices in certain markets and continued expansion of its asset base. Cash flow remained strong enough to support ongoing development projects, while the company continued managing debt prudently to fund long-term growth.

Yet Boralex is one of the best stocks to invest $1,000 into a TFSA right now because it offers a rare combination of stability, long-term growth, and defensive cash flow. Its contracted revenue model provides predictable returns, while its massive clean-energy development pipeline offers years of expansion potential. For TFSA investors, that means tax-free exposure to a business with steady income, rising future cash flow, and meaningful long-term upside.

WPK

Winpak (TSX:WPK) is a high-quality North American packaging company that manufactures specialized materials used in food, healthcare, and consumer goods applications. It’s known for its financial strength, disciplined management, and conservative balance sheet. It often runs with zero long-term debt, a rarity on the TSX. Because its products serve essential industries with stable demand, Winpak delivers reliable revenue through all market cycles.

In its most recent earnings, Winpak reported stronger year-over-year profits driven by improved product mix, easing raw-material costs, and efficiency gains across the board. Revenue growth remained steady as demand for food and health-related packaging continued to normalize after pandemic-era issues. The company maintained a healthy cash flow while preserving its debt-free position.

Winpak is one of the best stocks to invest $1,000 into a TFSA right now as it combines exceptional financial stability with long-term compounding potential. Its recession-resistant business model ensures steady results even when markets are turbulent. Meanwhile, its debt-free balance sheet leaves it uniquely positioned to grow through economic cycles. For TFSA investors, Winpak provides something rare: low-risk, consistent earnings, and decades of potential appreciation.

BIP.UN

Brookfield Infrastructure Partners (TSX:BIP.UN) is one of the world’s leading owners and operators of essential infrastructure. It holds assets spanning utilities, data centres, pipelines, rail, toll roads, and telecom towers across multiple continents. Its portfolio is built on long-term, inflation-linked contracts that generate highly predictable cash flow year after year. BIP.UN consistently acquires undervalued or underperforming assets, improves them, and recycles capital into higher-return opportunities.

In its recent earnings, BIP.UN reported strong funds from operations (FFO) growth. This was driven by contributions from newly acquired data-centre and midstream assets, inflation-indexed contract increases, and steady organic expansion across its utilities and transport segments. Cash flow remained robust, supported by resilient demand for essential services across the portfolio. Management reaffirmed distribution growth guidance as well. Despite higher interest rate conditions globally, BIP.UN continued to post healthy results thanks to the defensive nature of its assets.

BIP.UN is one of the best stocks to invest $1,000 into a TFSA right now, offering the rare combination of global diversification, inflation-protected cash flow, and consistent distribution growth. Its long-term annual distribution growth target of 5% to 9% makes it a powerful income compounder inside a tax-free account as well.

Bottom line

If you’re an investor looking to buy it, leave it, and let it snowball, these three offer the best option for that $1,000 in a TFSA. The longer you let these stocks compound, the bigger that $1,000 can grow.

The post The Best Stocks to Invest $1,000 in a TFSA Right Now appeared first on The Motley Fool Canada.

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More reading

• 1 Magnificent Canadian Dividend Stock Down 11% to Buy and Hold for Decades
• 3 Canadian Stocks to Consider Adding to Your TFSA in 2026
• 2 Canadian Dividend Stars Set for Strong Returns
• 3 No-Brainer Data Centre Stocks to Buy With $500 Right Now
• 2 TSX Giants to Buy for Decades of Growth and Dividends

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Infrastructure Partners and Winpak. The Motley Fool has a disclosure policy.