How to Put $14,000 to Work for Monthly TFSA Income

The TFSA (Tax-Free Savings Account) is a great place to make your money work for you. Paying no tax on your investment income saves you money and the hassle of reporting income during tax season.

Every year, Canadians get to increase their contribution to the TFSA. This year, Canadians could add $7,000 to their TFSA, which was also the same as in 2026. If you have made your past two contributions, you may be wondering how to make your $14,000 of TFSA contributions work for you.

If you like monthly income, here is a mini four-stock portfolio that could earn you as much as $50 per month in passive income.

Top real estate stocks for monthly TFSA income

Real estate is a great place to look for monthly distributions. Most real estate investment trusts (REITs) earn rents monthly, so they pay out distributions at the same rate. Two of my favourite REITs are Granite REIT (TSX: GRT.UN) and Choice Properties REIT (TSX: CHP.UN).

Granite owns over 140 large-scale industrial properties across Canada, the U.S., and Europe. With 98.6% occupancy, a strong tenant base, and long-term leases, it has a foreseeable mix of rents. It has a 15-year history of increasing its distribution annually.

This REIT yields 3.6% today. A $3,500 investment would earn $10.35 of distributions monthly.

With 699 properties, Choice Properties REIT is Canada’s largest REIT. It owns essential grocery-anchored properties, large-scale warehouses, and mixed-use properties across Canada. Its anchor tenant is Loblaw, which is Canada’s largest grocer.

This may not be the fastest-growing REIT, but it is extremely defensive and economically resilient. With 98% occupancy and a strong tenant mix, its distribution is very safe.

This TFSA stock yields 4.8% today. A $3,500 investment in Choice would earn $13.91 every month.

Top industrial stocks for monthly TFSA income

If you are looking for TFSA income outside of real estate, industrials and energy stocks are a good place to look. Mullen Group (TSX: MTL) and Surge Energy (TSX: SGY) are two stocks worth holding for monthly income.

Mullen has a transport and logistics network that spans Canada and the United States. The past few years have been a tough freight environment. However, Mullen has opportunistically been acquiring transport providers that expand its geographic and service scope. Its diversified network has proven resilient, even through challenging markets.

Mullen stock yields 3.4% now. A $3,500 investment would earn $9.66 monthly.

Surge Energy is a smaller listed energy producer with around 24,000 barrels of oil equivalent per day of production across Alberta and Saskatchewan. 89% of its production is liquids, so it is enjoying the benefit of higher oil prices right now.

Even with a 5.6% dividend yield, it has a relatively low payout ratio of only 15%. A $3,500 investment would earn $16.08 monthly.

The Foolish takeaway

With as little as $14,000, you can build a diversified portfolio that generates $50 per month of tax-free passive income in your TFSA. The great news is that most of these stocks are regularly increasing their distributions, so you are likely to see that income rise over time.

Prices as of July 16, 2026