Retirement portfolios are built over decades, not months, which is why the quality of the stocks inside a Tax-Free Savings Account (TFSA) often matters far more than short-term market performance. A stock doesn’t need to outperform every year to become an outstanding long-term investment. Instead, it needs the ability to keep generating cash, reinvest capital at attractive returns, and adapt as industries and economies evolve. Investors who focus on those fundamentals are usually rewarded with the power of compounding, especially when gains accumulate tax-free inside a TFSA.
Here are two top Canadian stocks that could help build a TFSA capable of supporting a more comfortable retirement.
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A TFSA stock to help you retire richer
The first stock that could fit a long-term, retirement-focused TFSA is Brookfield (TSX:BN). Currently, it trades at $60.51 per share with a market cap of about $149 billion. BN stock has risen 12% over the last three months, while its dividend yield sits near 0.6%.
The company mainly owns and manages assets across alternative asset management, wealth solutions, renewable power, infrastructure, industrial operations, and real estate. In the latest quarter (ended in March 2026), Brookfield reported net income of US$1 billion, up sharply from US$215 million a year ago. Its net profit attributable to Brookfield shareholders also improved to US$102 million from just US$73 million.
More importantly for long-term investors, Brookfield’s total distributable earnings came in at US$1.6 billion. That solid figure matters because distributable earnings show the cash-generating power of a business that could be used for dividends, share buybacks, or reinvestment.
The company also ended the quarter with US$188 billion of capital available to deploy into new investments. On top of that, Brookfield returned US$598 million to shareholders through dividends and buybacks during the quarter and repurchased US$470 million of BN shares year-to-date at an average price of US$41.
Overall, Brookfield’s appeal lies in its long history of investing capital across real assets and operating businesses. For a TFSA built to last, Brookfield could be a solid choice because it combines global scale, steady cash generation, and a proven ability to reinvest capital for long-term growth.
Another Canadian stock for retirement planning
Another TFSA-friendly stock that could help you retire richer is Canadian National Railway (TSX:CNR). At the time of writing, CNR stock traded at $169.25 per share with a market cap of $103.5 billion. Its shares have risen 19% over the last year, and the stock has a dividend yield of 2.2%.
CNR’s network links Canada’s coasts with the U.S. Midwest and Gulf Coast, moving grain, energy products, intermodal containers, and industrial goods. In short, it owns the kind of hard-to-replace infrastructure that can remain relevant for decades.
In the first quarter, CNR reported revenue of $4.4 billion. While its revenue slipped 1% YoY, the company still generated about $1.6 billion in operating profit and $1.2 billion in net profit.
Canadian National’s cash flow picture continues to be strong. During the quarter, its free cash flow jumped 44% YoY to $900 million, backed by $1.3 billion in cash from operating activities. That gives CNR more room to invest in its network, pay dividends, and buy back shares.
While CNR isn’t the most exciting stock, that is part of its appeal. It moves essential goods, owns a nearly 19,000-mile rail network, and remains tied to Canada’s resource, manufacturing, and export economy. For a TFSA focused on retirement planning, CNR could be a solid choice because it offers durable infrastructure exposure, reliable cash flow, and a long runway for dividends and capital returns.
