Wealth creation only needs investing in a handful of stocks at the right time inside your Tax-Free Savings Account (TFSA). If you are above 35 years of age and have lived in Canada all your life, you have a cumulative TFSA contribution room of $109,000. Most young Canadians are missing out on the rare opportunity to retire early as a millionaire by not using their TFSA for wealth creation. This account allows you to invest in stocks trading on the TSX and NASDAQ, grow and withdraw your money tax-free.
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Three stocks that could turn a $100,000 portfolio into $1 million sooner than you might think
Here are three stocks in their hyper-growth cycle that are buys right now.
Micron Technology (NASDAQ:MU) is due to memory chip shortages, as most of its chip production capacity is diverted to artificial intelligence (AI) data centres.
Shopify (TSX:SHOP) is for sustainable growth because its flywheel business model has finally started delivering consistent revenue growth and free cash flow margin.
Kinross Gold (TSX:K) is benefiting from the rising gold prices as central banks worldwide are buying gold reserves to fund wars and global trade. And gold mining companies ain’t increasing production.
Opportunity cost of not investing in April 2025
All these growth trends were visible in April 2025 as well. Had you picked them up in the early stages, a $100,000 investment would have grown almost fourfold, bringing you closer to the $1 million target sooner than you might think.
| Share Count | Invested Amount | Stock | 17-Apr-25 | 17-Apr-26 | Portfolio Value |
| 258 | $30,000 | Shopify | $116.00 | $233.00 | $60,114 |
| 1463 | $30,000 | Kinross Gold | $20.50 | $46.47 | $67,986 |
| 581 | $40,000 | Micron Technology | $68.80 | $457.23 | $265,651 |
| $100,000 | $393,750 |
A good growth stock gives a 15-25% compounded annual growth rate (CAGR) in the long term. To convert $100,000 into $1 million, a 25% CAGR stock will take 10 years, and 16.6% CAGR stock will take 15 years.
| Years | CAGR |
| 10 years | 26% |
| 12 Years | 21% |
| 15 Years | 16.60% |
Do these three stocks have room for more growth?
The three stocks rose by triple digits in the last 12 months, covering a four-year growth journey in one. Is there room for more growth? Yes, but the pace of growth may slow.
Growth expectations from Micron
Micron’s past memory supply shortages have lasted 18 months. However, the management said that this cycle is different. It had to stop production of PC and mobile memory chips to build High Bandwidth Memory (HBM). And despite channelling its production capacity to HBM, it is catering to only 66% of the demand.
Micron has invested $25 billion in 2026 to build new capacity, but it will take two to three years to come online. Until then, Micron and its fellow memory chip makers will continue to command a higher price for their chips and report windfall gains as data centre chips are high-margin products.
Valuations are not a good indicator of a cyclical stock like Micron, but the fact that the stock is trading at 7.8 times its forward earnings per share despite rising fivefold speaks volumes about the profits it is minting. Its net income surged 255% in the fiscal second quarter of 2026 compared to the fiscal first quarter of 2026. The net profit margin surged to 59% from 40% during this period, and such numbers are expected throughout the year.
Micron could see two to three more growth cycles before stabilizing. Consider buying it at every dip as it can accelerate your million-dollar journey.
Growth expectations from Kinross and Shopify stock
Kinross Gold is one of the largest gold miners and is sustaining its production at the 2025 level of two million ounces (oz) of gold. The miner expects its all-in sustaining costs to be $1,730 in 2026, and considering that gold is trading above US$4,800/oz and will only surge past US$5,000 in 2026 due to aggressive buying from central banks, Kinross stock could witness another year of triple-digit growth.
As for Shopify, the stock is down due to seasonal weakness. However, the holiday season rally could pick up growth momentum, and this time, its AI tools could improve efficiency for merchants. Shopify’s presence in international markets beyond North America could balance revenue growth throughout the year.
