The Canadian Stocks I’d Prioritize if I Had $5,000 to Invest Right Now

Becoming a successful stock market investor doesn’t always mean having millions to throw into the market and see if your bets pull through for you. Even with an amount as small as $5,000, invested carefully in the stock market, it can provide a good start. Building a self-directed portfolio of high-quality stocks in a Tax-Free Savings Account (TFSA) and letting it grow over the years can help you unlock true financial freedom.

If I had $5,000 to invest and enough contribution room available in my TFSA, I would split it evenly across one growth-focused and one income-focused equity security from the TSX. Held in a TFSA, I can count on the growth stock to deliver outsized long-term gains. Since it will have its ups and downs, I can rely on the dividend stock to provide regular returns through quarterly dividends and offset potential losses.

Against this backdrop, I will discuss two TSX stocks that fit the bill for potential holdings to consider for your portfolio.

5N Plus

5N Plus (TSX:VNP) is a $3 billion market-capitalization leader in the production of specialty semiconductors and performance materials that are critical for use across several important industries, including security, renewables, space, pharmaceuticals, and more. Headquartered in Montreal, the company uses proprietary technologies to produce the vital ingredients that its clients use.

The stock had a record-setting year in 2025, with its revenue increasing 35.2% year over year, and its net earnings skyrocketed by 244.2%. As of this writing, VNP stock trades for $33.41 per share, up by 85.61% from 12 months ago. Considering the growing demand for its products and services, there might be plenty more growth to come in the next few years. Investing right now might help you capture outsized long-term gains.

Toronto-Dominion Bank

Toronto-Dominion Bank (TSX:TD) is a $238.53 billion market-capitalization giant in the Canadian financial services sector. One of the Big Six Canadian banks, TD Bank stock is one of the top picks for Canadian investors seeking long-term passive income through reliable dividend distributions. TD Bank has a 169-year streak of paying its quarterly dividends to investors without fail.

The bank faced regulatory troubles in the US related to an Anti-Money Laundering (AML) investigation and absorbed the US$3 billion fine imposed on it. The bank continues its remediation efforts to strengthen its money laundering controls. A bank stock that has been around for almost two centuries and paid dividends for most of that time can be a reliable income-focused investment.

As of this writing, it trades for $142.93 per share and pays $1.08 per share each quarter, translating to a 3.02% dividend yield that you can lock into your self-directed portfolio today.

Foolish takeaway

By investing in equity securities that balance growth and stability, you can unlock what you need for long-term wealth-building. Held in a TFSA, you can count on your investments to provide you with tax-free returns that can help you achieve the financial freedom that successful investors enjoy. To this end, TD Bank stock and VNP stock can be good investments to consider.

The post The Canadian Stocks I’d Prioritize if I Had $5,000 to Invest Right Now appeared first on The Motley Fool Canada.

Should you invest $1,000 in Toronto-Dominion Bank right now?

Before you buy stock in Toronto-Dominion Bank, consider this:

The Motley Fool Canada team has identified what they believe are the top 10 TSX stocks for 2026… and Toronto-Dominion Bank 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 over $18,000!*

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* Returns as of April 20th, 2026

More reading

• The Bank of Canada Just Spoke: 2 Canadian Stocks to Buy Now
• 3 Canadian Growth Stocks Worth Considering for a TFSA This Year
• 3 Canadian Stocks That Could Be an Ideal Fit for a $7,000 TFSA Investment
• The Best Canadian Stocks to Buy Right Away With $45,000
• 3 Stocks Worth Buying and Holding Through 2026 and Beyond

Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.