Dreaming of a TFSA Million? Here's How Much You'd Need to Set Aside Each Month

Dreaming of a TFSA Million? Here’s How Much You’d Need to Set Aside Each Month

A million-dollar TFSA in 10 years takes serious monthly saving, and Altus Group could be one TSX stock to help.

Amy Legate-Wolfe

Author Bio Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Her work can also be found at Canada's National Observer, where she writes on the business side of climate action. Before joining Motley Fool Canada, Amy wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Social Media Follow Amy on LinkedIn and Canada Stock Digest. Favorite Investment Quote “October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published April 30, 4:30 pm EDT

A Tax-Free Savings Account (TFSA) worth a million in 10 years sounds dreamy, but the math gets serious fast. If a Canadian started from zero and earned nothing, they would need to set aside about $8,333 a month to hit $1 million in a decade. With a 6% annual return, that drops to about $6,102 a month. At 8%, it falls to roughly $5,466, and at 10%, it comes to about $4,882. Sure, that’s still a hefty target, so anyone chasing a seven-figure TFSA needs both discipline and a stock with real long-term upside.

some REITs give investors exposure to commercial real estate — Source: Getty Images

AIF

One stock that could help make that goal feel a little less wild is Altus Group (TSX: AIF). It provides software, data, and analytics to the commercial real estate industry, with ARGUS standing out as its best-known platform. That makes it a more specialized TSX name, but also one tied to a niche where better data and better decisions matter a lot.

Over the last year, Altus has stayed busy reshaping the story. In November 2025, it announced a leadership transition, with Mike Gordon set to become chief executive in the first quarter of 2026 after the company wrapped up its strategic review. Then in February 2026, it announced the sale of its Canadian appraisals business to Newmark, a move that pushed Altus stock further toward a more focused software and intelligence model.

More recently, Altus stock has leaned even harder into product and capital moves. In April 2026, it launched ARGUS Assist, which it described as the first artificial intelligence (AI)-powered experience inside the ARGUS Intelligence platform. It also wrapped up the preliminary results of a substantial issuer bid worth up to $200 million, buying back shares at a price range of $42 to $52. That’s a pretty clear sign management thinks the stock deserves support.

Into earnings

The latest earnings gave investors a decent reason to stay interested. For fiscal 2025, Altus stock reported revenue of $502 million, up from $484 million in 2024. Its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margin reached 21.4%, while net cash provided by operating activities came in at $82 million and free cash flow hit $78 million. In the fourth quarter, annual recurring revenue in its valuation management solutions business rose to $166.9 million from $161.2 million.

The valuation looks a little more interesting than it did when the shares traded much higher. Altus stock holds at about 18.5 times forward earnings and roughly four times sales at writing. Not cheap, but more reasonable for a software and data business than many investors might expect.

Future focus

Looking ahead, the bull case is pretty straightforward. If commercial real estate activity keeps recovering and clients keep leaning on digital tools, Altus stock has a chance to grow as a higher-quality, more recurring-revenue business. Management is clearly trying to simplify the company, sharpen the product set, and make the software side of the story stand out more. That can be a nice recipe for patient TFSA investors who do not mind waiting for the market to catch up.

It also fits this article for a simple reason: a 10-year march to $1 million needs more than safe and sleepy. Investors need growth somewhere, and Altus stock offers a shot at that without drifting into pure speculation. Of course, there is risk. Commercial real estate still has weak patches, and this is not the kind of stock that moves in a straight line. But if you want a TSX name with a sharper upside profile for a long TFSA run, Altus has a case.

Bottom line

A million-dollar TFSA in 10 years is possible, but it asks a lot. It asks for large monthly contributions, steady investing, and a few stocks that can actually grow. Altus stock is not a magic shortcut, and no stock is. Yet it’s pretty close, with a 1.3% dividend yield and a compound annual growth rate (CAGR) 9% over the last decade, it’s close to that ideal range. So, for investors willing to take on some volatility in pursuit of a bigger finish line, it looks like one of the more interesting Canadian names to watch.