What Does the Average Canadian’s TFSA Look Like at 55?

By age 55, a Tax-Free Savings Account (TFSA) can start to look less like a side account and more like a serious retirement planning tool. According to Canada Revenue Agency data for the 2023 contribution year, Canadians aged 55 to 59 had an average TFSA fair market value of $37,600 and an average unused contribution room of $52,972.

That number is only an average, of course. Some investors will hold mostly cash in their TFSA, while others may lean on dividend stocks and real estate investment trusts (REITs) for steady income and long-term growth. The stronger portfolios often mix dependable cash flow with businesses that can still expand over time.

Let’s take a closer look at two dependable Canadian stocks that deserve consideration by long-term TFSA investors.

An essential retailer with monthly dividends

The first stock that aligns with a steady TFSA at this stage is North West Company (TSX:NWC). This Winnipeg-headquartered company serves rural communities and urban neighbourhoods across Canada, Alaska, the South Pacific, and the Caribbean. Its stores operate under banners such as Northern, NorthMart, Giant Tiger, Alaska Commercial Company, Cost-U-Less, and RiteWay Food Markets.

At the time of writing, NWC stock traded at $49.38 per share, giving it a market cap close to $2.4 billion. Shares were up 2.3% over the past year, despite slipping 4.6% over the last month. At this market price, the stock also offers a dividend yield of about 3.3%, paid quarterly.

The ongoing strength in North West’s financials shows why this stock could appeal to long-term TFSA investors. In the quarter ended in April 2026, its sales declined 1.5% year-over-year (YoY) to $631.6 million, partly due to foreign exchange impacts and store closures, but same-store sales increased 1.2%. At the same time, its gross profit rose 0.6% from a year ago to $215.3 million as merchandise and procurement improvements helped offset some pressure.

Adding to the optimism, the company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) climbed 5.8% YoY in the latest quarter to $74.2 million. That steady performance could appeal to investors who want their TFSA holdings to deliver consistent results instead of simply moving with market sentiment.

A top REIT with monthly income

Another way a 55-year-old investor might balance a TFSA is by investing in Granite Real Estate Investment Trust (TSX:GRT.UN), a REIT with a wider industrial footprint. This Toronto-based REIT owns logistics, warehouse, and industrial properties across North America and Europe.

After rallying 39% over the last year, Granite’s shares currently trade at $95.80 apiece with a market cap of about $5.8 billion. It also pays monthly distributions and currently yields about 3.6%.

In the first quarter of 2026, Granite’s net operating income rose 6.8% YoY to $134.2 million. Similarly, its funds from operations climbed to $95.8 million, compared with $91 million a year ago.

The REIT also maintained strong occupancy. Its in-place occupancy stood at 97.5% at the end of March, while committed occupancy was 98.3% in the first week of May 2026. Granite also achieved average rental rate spreads of 23% on new leases and renewals during the quarter, showing that demand for its industrial space remains healthy.

By the end of March, Granite owned 145 investment properties representing about 61.5 million square feet of gross leasable area.

For TFSA investors who want healthy capital appreciation along with reliable monthly income, Granite’s steady cash flow, high occupancy, and logistics-focused portfolio make it worth a closer look.

The post What Does the Average Canadian’s TFSA Look Like at 55? appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool recommends Granite Real Estate Investment Trust and North West. The Motley Fool has a disclosure policy.