Plan to Retire Rich? 3 TSX Stocks for Retirement to Add to Your Portfolio Now

These high growth companies are profitable, implying their returns could outpace the broader markets by a wide margin.

| More on:

Image source: Getty Images

Investors planning to invest to meet long-term financial goals like retirement should capitalize on the pullback in prices of several top Canadian stocks. As stocks are inherently risky, one should focus on corporations that have strong fundamentals, have been growing rapidly, and are profitable. Also, those companies should have multiple catalysts to support future growth. This way, investors can create a winning long-term portfolio that could outperform the broader markets by a considerable margin. 

In this article, I’ll focus on three stocks that could help you retire rich.


Speaking of profitable high-growth stocks, one could consider investing in goeasy (TSX:GSY). This subprime lender has grown its adjusted EPS (earnings per share) at a CAGR (compound annual growth rate) of 29.1% from 2011 to 2021. Meanwhile, in the first nine months of 2022, goeasy’s adjusted EPS increased by 11%. 

goeasy’s strong profitability is supported by its stellar sales and steady credit performance. Its asset quality remains strong, which reduces credit risk. Moreover, the lender benefits from higher loan originations that drive its loan portfolio. It’s worth highlighting that goeasy’s credit and payment performance remained stable in the first nine months of 2022 despite the weak macro environment. Further, its allowances for credit losses decreased slightly, reflecting improved product and credit risk. 

Thanks to its solid earnings base, goeasy stock gained significantly over the past decade and generated multi-fold returns. Furthermore, it enhanced its shareholders’ returns through higher dividend payments. GSY stock has witnessed a pullback amid fears of an economic slowdown, providing a solid buying opportunity for investors.


Like goeasy, Aritzia (TSX:ATZ) has also delivered stellar growth and is highly profitable. For instance, its adjusted net income has grown at a CAGR of 24% from fiscal 2018 to 2022. Year-to-date in fiscal 2023, it has increased by 22.7%. 

Strong demand and full-price selling support its top line. Also, product expansion, new boutique openings, and omnichannel strength are accelerating growth. Meanwhile, its growing revenues and operating efficiency drive its earnings. 

This consumer company is strategically expanding its boutiques in high-growth markets like the United States. Further, it is growing its penetration into other verticals, which will likely support sales. The company expects its top line to increase at an average annualized rate of 15–17% over the next five years. What stands out is that management forecasts EPS growth to be higher than the sales growth rate. Overall, Aritzia is poised to deliver stellar growth, which will drive its stock price higher. 


The final stock on this list is Cargojet (TSX:CJT). Canada’s leading air cargo service provider is known for delivering solid sales and earnings. For instance, Cargojet’s revenues increased 36.6% in nine months of 2022. This growth came despite the slowdown in the e-commerce vertical. Meanwhile, its adjusted EPS jumped 56.7% during the same period. 

Its next-day delivery services to more than 90% of Canadian households, service agreements with Canada Post and United Parcel Service Canada, long-term contracts with minimum revenue guarantee, and ability to pass-through costs augur well for growth. 

Overall, Cargojet is well-positioned to benefit from both a strong domestic network and opportunities in the international market. As the e-commerce sector and thus revenues recover, fleet optimization could continue to boost profitability and support its stock price. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Aritzia and Cargojet. The Motley Fool has a disclosure policy.

More on Investing

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Monday, June 24

After sliding for five consecutive weeks, the TSX Composite Index has slid 2.8% so far in the second quarter.

Read more »

Money growing in soil , Business success concept.

2 Great Dividend-Growth Stocks to Stash in a TFSA for Decades

CN Rail (TSX:CNR) and another dividend grower look cheap enough to own in a TFSA value fund for the long…

Read more »

Canada day banner background design of flag

Essential RRSP Stocks: 2 Canadian Picks to Secure Your Retirement

Two dividend stocks are ideal anchors for Canadians intending to contribute to their RRSPs in 2024 and save for retirement.

Read more »

A Canada Pension Plan Statement of Contributions with a 100 dollar banknote and dollar coins.

5 Strategies for Maximizing Your CPP Benefits in 2024 and Beyond

Are you looking for the best way to max out your CPP benefits? Here are some tips you may not…

Read more »

Digital background depicting innovative technologies in (AI) artificial systems, neural interfaces and internet machine learning technologies
Tech Stocks

Better Artificial Intelligence Stock: UiPath vs.

Deciding between UiPath and isn't easy since both have strengths and weaknesses.

Read more »

data analyze research

The 1 Stock to Own in a Sideways Economy

Here's why Restaurant Brands (TSX:QSR) remains a top TSX stock investors shouldn't ignore for long-term gains in this market.

Read more »

Retirees sip their morning coffee outside.

Here’s the Average RRSP Balance at Age 65 and 71 in Canada

Canadian investors can consider holding dividend stocks and supplement their CPP and RRSP payouts in retirement.

Read more »

Dividend Stocks

10 Years From Now, You’ll Be Glad You Bought These Magnificent TSX Dividend Stocks

The TSX is lucrative to buy these magnificent dividend stocks in bulk and be proud of this decision 10 years…

Read more »