Investing in the stock market doesn’t always have to be complicated, especially when you’re building a retirement portfolio that may have decades to grow. In fact, constantly buying, selling, and chasing the market’s next big winner could make investing feel like far more work than it needs to be. I’d rather find a strong business that can keep growing earnings, pay me dividends along the way, and give compounding enough time to work.

Great-West Lifeco (TSX: GWO) fits that approach surprisingly well. Its shares have surged by 72% over the last year, and the business has been improving as well. In this article, I’ll explain why Great-West Lifeco could be one stock to start with for Canadians who want a simpler path toward building a bigger retirement portfolio.

Great-West Lifeco stock

If you want to keep your retirement strategy simple, Great-West Lifeco gives you a large and diversified financial services business to consider. Headquartered in Winnipeg, Great-West operates across Canada, the United States, and Europe through brands such as Canada Life, Empower, and Irish Life. Its operations cover retirement, wealth management, group benefits, insurance, annuities, and risk solutions.

Up 38% year-to-date, GWO stock currently trades at $93.34 per share, giving the company a market cap of $83.5 billion. Even after that strong run, the stock still offers an annualized dividend yield of 2.9%.

This rally in the stock has mainly been supported by the company’s improving performance. Notably, Great-West delivered double-digit earnings growth, rising client assets, stronger returns on equity, and continued share repurchases.

Earnings growth strengthens its fundamentals

For a relatively hands-off retirement strategy, you need to make sure that the company you’re investing in has the ability to compound its earnings for many years. And Great-West appears well positioned on that front.

In the second quarter of 2026, its base earnings climbed 15% year-over-year (YoY) to about $1.42 per share. The financial services company’s net earnings also jumped 20% from a year ago to $1.16 per share. Growth in its retirement and wealth businesses, led by Empower, was a major driver of those solid results, while strong new business growth in its capital and risk solutions also helped.

At the same time, Great-West’s U.S. segment delivered a 34% YoY increase in base earnings in constant currency, backed by higher fee income, favourable markets, and positive plan and wealth net inflows.

As a result, the company posted a 19.3% base return on equity, up from 17.4% a year ago. Its total client assets reached about $3.7 trillion at the end of the quarter, reflecting 12% growth from the end of the previous year.

A bigger retirement platform

In September, its Empower subsidiary completed the acquisition of Milliman’s retirement plan and benefits administration business. The transaction added roughly 400 defined benefit plans with about 790,000 participants and US$80 billion in client assets. It also added more than 1,100 defined contribution plans representing about 750,000 participants and more than US$50 billion in client assets.

Following the deal, Empower’s footprint expanded significantly to over US$2.3 trillion in client assets and 96,000 workplace plans. This larger platform should give Great-West more scale across retirement and workplace benefits services going forward.

These are some of the key reasons why I believe Great-West stock offers Canadians an appealing combination of earnings growth, retirement-focused expansion, dividends, and share buybacks. That’s why GWO could be an attractive stock to buy and hold while compounding does the rest, especially for investors looking for a simpler path toward a bigger retirement portfolio.

The post The Lazy Canadian’s Path to a Bigger Retirement: 1 Stock to Start With appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

No one wants to approach their retirement years wondering whether they saved enough or whether their portfolio can keep supporting them once the paycheques stop. That’s why I think a great retirement stock should do more than simply pay a dividend. Ideally, a retirement stock should be capable of growing the value of my investment for years while steadily returning cash along the way.

That said, Power Corporation of Canada (TSX: POW) offers a reliable combination of both. Through its major holdings, it gives exposure to retirement services, insurance, and wealth management businesses. In this article, I’ll explain why Power Corporation’s mix of financial businesses, dividends, and long-term growth potential could make it a retirement game-changer.

A great retirement stock with multiple growth engines

If you don’t know it already, this Montreal-based holding company has major holdings such as Great-West Lifeco and IGM Financial. It also has interests in businesses such as Wealthsimple and alternative asset manager Sagard.

Lately, Power Corporation stock has been on an impressive run as its shares have surged about 64% over the last year. As a result, it now trades at $95.28 per share, giving it a market capitalization of about $54.5 billion. On top of those gains, the stock offers a dividend yield of roughly 2.8% at the current price.

The recent rally in POW stock could mainly be attributed to rising value across several of Power Corporation’s underlying investments. Let’s take a closer look.

Strong businesses are supporting the retirement story

Power Corporation’s adjusted net asset value climbed nearly 32% from the end of 2025 to $112.94 per share at the end of June 2026. More importantly for retirement investors, several of its core businesses continue to grow.

In the second quarter, the company’s adjusted net profit climbed nearly 10% year-over-year (YoY) to $974 million. At the same time, its adjusted earnings per share (EPS) also rose to $1.55 from $1.38.

Its subsidiary Great-West’s adjusted net earnings in the latest quarter rose 11% YoY to $1.3 billion with the help of continued momentum in its retirement and wealth businesses.

Meanwhile, IGM’s adjusted net earnings jumped 31% YoY to $330 million. Its assets under management and advisement climbed nearly 21% from a year ago.

More importantly, Power Corporation is also benefiting from growth beyond these traditional businesses. Wealthsimple reached 3.6 million clients by the end of June, while its assets under administration soared 84% YoY. Similarly, Sagard’s assets under management reached US$46.9 billion after it acquired Unigestion.

More ways to build retirement wealth

POW’s appeal as a retirement stock becomes even clearer when you consider how it balances returning capital to shareholders with investing for future growth. During the first six months of 2026, the company returned $1.5 billion to shareholders, including $800 million in dividends and $700 million through share repurchases.

At the same time, Great-West is expanding its retirement business through Empower’s acquisition of Milliman’s retirement plan and benefits administration business. This acquisition is expected to add roughly US$130 billion in client assets and 1.5 million plan participants to Empower’s Workplace Solutions platform.

Clearly, Power Corporation brings several attractive retirement-building qualities together in one investment. Its expanding financial businesses, growing asset values, quarterly dividends, and significant capital returns could help investors generate income while building long-term wealth. That definitely makes it worth a closer look for retirement portfolios today.

The post This Stock Could Be a Retirement Game-Changer appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Investing during retirement requires a fundamental mindset shift. The primary goal is no longer about chasing hyper-growth stocks or beating the TSX during explosive bull runs. Instead, it becomes about capital preservation, keeping pace with inflation, and generating reliable passive income to fund daily living. High-quality Canadian dividend stocks offer an ideal middle ground by delivering steady passive income alongside modest long-term growth to retirees stepping away from a regular paycheck.

When building a low-risk income portfolio, market volatility is your biggest enemy. That is why tracking a stock’s five-year beta relative to the S&P/TSX Composite Index is crucial. While standard international stock screeners measure volatility against the technology-heavy S&P 500, benchmarking against the TSX tests how a company holds up against domestic market swings in energy, materials, and banking sectors. A five-year TSX beta between 0.40 and 0.45 means a stock potentially experiences less than half the volatility of the broader Canadian market, making regulated utilities a premier choice for risk-averse investors, including retirees.

Three top dividend stocks for retirees

Given the selection criteria, utilities rise to the top here. Three of these top TSX dividend stocks to buy in retirement would include Fortis (TSX: FTS) stock, Emera (TSX: EMA), and Hydro One (TSX: H) stock.

Let’s take a closer look.

Why Fortis stock is a retirement investor’s dream

Fortis stock stands as the gold standard of Canadian dividend income investing. Offering a 3.4% dividend yield, Fortis boasts a remarkable 52-year dividend-growth streak. Investors in FTS stock have experienced a 650% total dividend growth over the past 35 years.

The Canadian utility’s expansive network of 99% regulated electric and gas distribution assets across North America delivers exceptional revenue, earnings, and cash flow visibility. Supported by a disciplined capital deployment program, management projects annual payout growth between 4% and 6% through 2028.

With a low TSX beta of 0.43 and a conservative payout ratio of 70% to 75%, Fortis stock provides an enduring foundational anchor for retirement portfolios.

Emera stock’s higher upfront yield attractive for retirees

Among the three top dividend stocks for retirees, Emera stock serves investors seeking a higher immediate cash return very well. Operating regulated electric and gas utilities in Florida and Atlantic Canada, Emera offers an attractive 4.2% dividend yield. The payout is backed by a 19-year growth streak. While near-term dividend increases are expected to moderate to 1% to 2% as management prioritizes balance sheet deleveraging and asset sales, the utility targets a safe payout ratio of 65% to 70%.

Given its five-year beta of 0.45 against the TSX, Emera stock delivers relatively low-risk dependable upfront income coupled with long-term economic expansion.

Hydro One stock

Hydro One functions as a pure-play monopoly on Ontario’s electric transmission grid, controlling roughly 98% of the province’s high-voltage lines. Although its 2.6% initial dividend yield is lower than its utility peers, investors willingly pay a premium for its structural stability and an undisturbed 10-year dividend-growth streak.

The Canadian utility appointed Megan Telford as president and CEO in June 2026, maintaining operational momentum. Hydro One continues to grow its asset and revenue base. It invested $812 million in capital projects in the second quarter alone, pushing year-to-date capital deployment past $1.5 billion. New investments, and favourable rate increases may comfortably support steady 5% to 6% annual dividend-growth rates in the near future.

Backed by a tight 60% payout ratio and a 0.40 beta against the TSX, Hydro One stock appeals as a low-risk Canadian dividend stock to buy and hold in retirement.

Three top TSX dividend stocks for retirement passive income

Fortis stock, Emera, and Hydro One stock could pay reasonable dividends, add low-risk growth potential, and grow a passive-income stream. Here’s a summary of their key attributes to consider for retirement plan income investing.

Combining these three defensive Canadian dividend stocks creates a resilient retirement income portfolio capable of weathering economic cycles, and trade wars, while insulating a golden-years nest egg from broader market turbulence.

The post These 3 Canadian Dividend Stocks Are Great for Retirees appeared first on The Motley Fool Canada.

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Fool contributor Brian Paradza has no position in any of the stocks mentioned. The Motley Fool recommends Emera and Fortis. The Motley Fool has a disclosure policy.

Retirement planning looks different for everyone, but one thing rarely changes. Most Canadians want enough savings to enjoy life without constantly worrying about money. That is where a Tax-Free Savings Account (TFSA) could become one of your most valuable retirement tools.

While many Canadians prefer to build large TFSA balances over the years, the average account value still falls well short of what could generate meaningful retirement income. If your goal is to create a steady stream of tax-free cash, it could pay off well to think bigger and invest wisely along the way.

How much should you aim for

There is no one-size-fits-all retirement number because everyone’s lifestyle and expenses are different. Even so, the latest Canada Revenue Agency data suggests many Canadians may need to keep building their TFSAs. For example, Canadians aged 65 to 69 had an average TFSA fair market value of $51,244, while those aged 70 to 74 averaged $56,106.

While those balances can certainly supplement retirement income, they’re unlikely to be enough on their own for most retirees. If you want your TFSA to become a dependable source of tax-free income throughout retirement, aiming for a portfolio in the high six figures, or even $1 million over the long term, could put you in a much stronger financial position.

While reaching that goal won’t happen overnight, decades of consistent contributions, dividend reinvestment, and owning high-quality Canadian dividend stocks could make a big difference. Let me highlight two such Canadian investments that could help you get there.

Royal Bank of Canada stock

If you’re looking to build dependable retirement income over the long term, Royal Bank of Canada (TSX: RY) could be a great place to begin.

Being Canada’s largest bank, it operates across personal and commercial banking, wealth management, insurance, and capital markets. Its shares currently trade at $302.13 per share with a market capitalization of $419.9 billion. RY stock has surged 65% over the last year and currently offers a 2.3% annualized dividend yield.

This strong share price performance has been backed by impressive business growth. In its second quarter of fiscal 2026, Royal Bank reported net income of $5.5 billion, up 25% year-over-year (YoY), while diluted earnings per share jumped 27% to $3.85. Growth came from stronger capital markets revenue, higher wealth management fees driven by market appreciation and client inflows, and higher net interest income in both its personal and commercial banking businesses. Lower provisions for credit losses also supported earnings growth.

With consistent earnings growth, a strong balance sheet, and a long history of rewarding shareholders, Royal Bank remains an attractive dividend stock to own for investors building a retirement-focused TFSA.

Brookfield Renewable stock

If you’d like to add a higher-yield investment to your retirement portfolio, Brookfield Renewable Partners (TSX: BEP.UN) deserves a closer look on the TSX today.

Brookfield Renewable owns and operates hydroelectric, wind, solar, battery storage, and other renewable energy assets across North America, South America, Europe, and Asia-Pacific. Its shares currently trade at $44.56 apiece with a market cap of $13.6 billion and offer a healthy 4.9% annualized dividend yield. Even after a recent pullback, the stock remains up 21% over the last year.

Brookfield Renewable reported record funds from operations in the first quarter of 2026, reflecting strong performance across its global renewable energy platform. During the quarter, the company delivered about 1,800 megawatts of new capacity and contracted roughly 1,700 megawatts of projects from its advanced development pipeline. It also continued to target annual project deliveries of about 10,000 megawatts by 2027.

This great combination of a diversified global portfolio, reliable cash-generating assets, and a strong development pipeline positions Brookfield Renewable well for long-term growth. Its higher dividend yield also makes it an attractive complement to a blue-chip bank stock for Canadians looking to build more tax-free retirement income inside a TFSA.

The post Canadians: Here’s How Much You Need Saved in Your TFSA to Retire appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Renewable Partners. The Motley Fool has a disclosure policy.

Having a workplace pension plan you can count on during your golden years is a beautiful retirement path. Unfortunately, for the vast majority of Canadians, retirement planning reality hits incredibly hard.

Only a tiny handful of workers enjoy this retirement passive income “luxury” today. According to recent Statistics Canada data, only 7.2 million Canadians were active members of a registered pension plan (RPP) by 2023. That represents a mere 18% of the total population and only about 37.7% of the working population.

Worse still, unlike the gold-plated defined-benefit plans enjoyed mostly by public sector workers, private sector employees are largely left with defined-contribution plans. That means the retirement income you eventually get depends entirely on what you contribute. The entire burden of funding retirement, and the terrifying risk of outliving your portfolio, sits squarely on your shoulders.

But here is the good news: you don’t need a corporate boss to build a gold-plated retirement plan for you. By utilizing tax-efficient retirement investment tools like the TFSA and RRSP, you can build a flexible, cash-flowing DIY pension using the power of the Toronto Stock Exchange.

Core pension creation strategy: Reinvest, don’t liquidate

Traditional retirement “savings” advice tells you to systematically sell off your investments, including stocks, for income. But that forces you to worry constantly about bad market timing.

I believe there’s a better way. In the equity portion of your portfolio allocations, you could focus on buying and holding high-quality, cash-generating dividend stocks that pay you monthly or quarterly cash distributions. By targeting well-established companies with proven business models, strong economic moats, and stable cash flows, you ensure that your pension income recurs year after year, regardless of the volatility that happens in the stock markets.

If you want to build this retirement passive income engine from scratch, here are two incredible TSX heavyweights to anchor your DIY pension portfolio.

Pension plan anchor: The Vanguard FTSE Canadian High Dividend Yield ETF

For instant diversification in your dividend portfolio, consider the Vanguard FTSE Canadian High Dividend Yield Index ETF (TSX: VDY). Boasting roughly $8.6 billion in assets under management, the VDY is a massive exchange traded fund (ETF) tracking 60 of the highest-yielding, most sustainable dividend payers on the TSX. It pays monthly dividends, mimicking traditional monthly pension paycheques. The VDY ETF has raised payouts by 40% over the past 10 years, preserving investors’ income from inflation.

The portfolio is heavily anchored by Canada’s most resilient economic sectors: financial stocks make up 57.6%, followed by energy at 28.9% and utilities at 4.7%. Even better, it is incredibly cheap to own. With a management expense ratio (MER) of just 0.22%, you pay just $2.20 annually for every $1,000 invested and keep almost all the investment gains for yourself.

The VDY’s proof is this dividend portfolio anchor’s historical performance. A $10,000 investment in the monthly dividend ETF five years ago would have grown to more than $23,400 today, with dividends reinvested.

The passive income booster: Toronto-Dominion Bank (TD) stock

While an ETF gives you instant diversification, adding an elite single stock like the Toronto-Dominion Bank (TSX: TD) injects powerful dividend and capital growth potential into your pension portfolio.

TD is a compelling buy-and-hold-forever dividend stock. The Big Five banking giant has paid uninterrupted dividends to its shareholders since the 1850s. Even better, it has more than doubled its payout size over the past decade alone, offering retirees a potent defence against inflation.

Following a strong underlying performance in its latest operations, TD Bank stock recently raised its quarterly dividend up another 3.7% to $1.12 per share. Backed by a rock-solid capital position, TD’s earnings and cash flow generation capacity promises to remain resilient even during broader macroeconomic shifts.

The Foolish bottom line

Building your own pension plan doesn’t require a massive stroke of luck. You can construct a vibrant, liquid, and inflation-protected passive income stream tailored perfectly to your intended retirement lifestyle by combining broadly diversified, monthly paying dividend ETFs with historical dividend growth machines like TD Bank stock. Turn on a Dividend Reinvestment Plan (DRIP) early, and let compounding do the multi-year heavy lifting to build a respectable retirement nest egg.

The post How to Create Your Own Pension With Dividend Stocks appeared first on The Motley Fool Canada.

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Fool contributor Brian Paradza has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

A Tax-Free Savings Account (TFSA) could undoubtedly become a powerful retirement tool, but many Canadians may still have a long way to go. Canada Revenue Agency data show that the average TFSA fair market value was $45,109 for people aged 60 to 64 and $51,244 for those aged 65 to 69 in the 2023 contribution year. Although the right retirement amount will depend on your spending needs and other income sources, these balances show why consistent investing matters.

In this article, I’ll highlight three dividend-paying TSX stocks that could help Canadians steadily build a larger TFSA retirement fund.

TD Bank stock

If your goal is to build a larger TFSA retirement fund over time, Toronto-Dominion Bank (TSX: TD) could be a good place to start. As one of Canada’s largest financial institutions, it offers personal and commercial banking, wealth management, insurance, and wholesale banking services across Canada and the United States.

TD stock currently trades at $172.81 per share with a 34% year-to-date gain and a market cap of roughly $289 billion. It also offers an annualized dividend yield of around 2.6%.

In the second quarter of its fiscal 2026 (ended in April), TD’s adjusted net income climbed 15% year-over-year (YoY) to $4.2 billion. The bank’s Canadian personal and commercial banking segment posted a 15% YoY increase in adjusted earnings, while the wealth management and insurance business grew adjusted earnings by 18%.

Meanwhile, TD continues to invest in artificial intelligence (AI), digital banking capabilities, and customer experience while maintaining a strong Common Equity Tier 1 capital ratio of 14.3%. Combined with its long history of dividend payments, it remains an attractive option for Canadians building retirement wealth inside a TFSA.

Canadian National stock

Another stock that could help grow your TFSA over the long run is Canadian National Railway (TSX: CNR), or CN. It operates a nearly 20,000-mile rail network connecting Canada’s east and west coasts with the U.S. Midwest and Gulf Coast.

Up 29% year-to-date, the stock recently traded at $175.58 per share with a market capitalization of $107.4 billion. Investors also get an annualized dividend yield of roughly 2.1%.

During the first quarter, CN’s revenue slipped 1% YoY to $4.4 billion, while adjusted net income declined 5% to $1.1 billion as higher winter-related costs, operational incidents, and a higher effective tax rate weighed on results. Nevertheless, the business delivered record first-quarter revenue ton miles, which increased 3% YoY, while its free cash flow jumped 44% to $900 million.

CN also achieved its best first-quarter employee productivity in five years and delivered record first-quarter fuel efficiency.

With plans to invest about $2.8 billion in capital projects during 2026, this railway giant continues to strengthen its network and position itself for long-term growth.

Manulife stock

Manulife Financial (TSX: MFC) could be an attractive stock worth considering for Canadians investing for retirement. It provides insurance, wealth management, and retirement solutions across Canada, Asia, the United States, and several international markets.

With more than 20% year-to-date gains, MFC stock currently trades at about $58.67 per share, giving it a market capitalization of $97.5 billion. It currently offers an annualized dividend yield of around 3.3%.

In the March quarter, Manulife’s core earnings jumped 8% YoY on a constant exchange rate basis to $1.8 billion. Asia remained a key growth engine for the company, with the geographical segment’s core earnings rising 22% from a year ago, while the new business contractual service margin increased 15% in the region.

Moreover, the company continues expanding its presence in Asia, strengthening its global wealth management business through acquisitions and partnerships, and scaling AI across underwriting, claims processing, and distribution. Those long-term initiatives, coupled with a growing dividend, make it an appealing stock for investors aiming to build a larger TFSA retirement portfolio.

The post Canadians: Here’s the TFSA Amount You Need to Retire, Plus 3 Stocks to Get There appeared first on The Motley Fool Canada.

More reading

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Fool contributor Jitendra Parashar has positions in Toronto-Dominion Bank. The Motley Fool recommends Canadian National Railway. The Motley Fool has a disclosure policy.

Who doesn’t like certainty? Invest X amount and get Y amount in so many years. This certainty is what a Guaranteed Investment Certificate (GIC) provides. The best GIC rates available are 3.6% interest for one year and 4.1% for five years. The problem with stocks is that there is no certainty. While you may invest $50,000, you can only make an estimate and not be assured of passive income. However, for a little risk, the premium some high-yield dividend stocks offer makes them worth considering.

A high-yield dividend stock that could generate $3,550 in annual passive income

Slate Grocery REIT (TSX: SGR.UN) offers a 7% annual dividend yield. Its source of dividends is rent from grocers in the United States. The REIT’s two largest tenants are Walmart and Kroger, accounting for 18.4% of rental income. The slow development of new retail properties keeps supply tight, allowing Slate to grow rent.

However, one risk, or rather advantage, with Slate Grocery is foreign exchange. It pays dividends in US dollars, and Canadians can receive dividends in Canadian dollars. Thus, the REIT converts currencies on its end and transfers Canadian dollars.

Slate Grocery REIT is trading at $17.34 per unit. If you invest $50,000 today, you can buy 2,883 units, which could pay $3,546 in annual dividends. This amount could fluctuate by 1%, but you can make a rough estimate of $3,500 in passive income.

The annual passive income is almost double the interest that a GIC offers.

Keeping passive income tax-efficient

If you are looking for a high-yield stock to substitute for your retirement pension, consider investing in Slate Grocery REIT through the Tax-Free Savings Account (TFSA). TFSA withdrawals are tax-free, and they do not affect your Old Age Security (OAS) payout. The Canada Pension Plan, OAS, and Registered Retirement Savings Plan (RRSP) withdrawals are taxable.

A tax-free annual passive income of $3,500 can help you with that extra cash you need to manage volatility. This amount will be paid in monthly installments of $295.50.  

Building a robust dividend portfolio for annual passive income

Slate Grocery REIT is a good dividend stock for immediate payouts. But it has its drawbacks. The REIT has not grown its dividend amount for a long time. That is the price for safer yields. Instead of putting all your money in one stock, consider diversifying your investment so that a slowdown in one place can be offset by growth in another place.

Consider diversifying across sectors, market caps, contrarian assets, and dividend policies.

Real estate is an alternative investment and can be coupled with bank stocks, which grow dividends as the economy grows.

Royal Bank of Canada

Royal Bank of Canada (TSX:RBC) can provide diversification by sector and market cap. The bank is strategically important for the Canadian economy, given the sheer number of companies and households it serves. The bank has had administrative and governance issues, but that is the risk of having large operations and thousands of employees. However, with every issue, the bank’s system only strengthens.

The bank earns from the difference in the interest earned from loans and mortgages, and paid to depositors. While the yield is only 2.3%, the bank grows its dividend by an average annual rate of 8%. Also, your invested amount will grow with the share price. RBC’s share price has surged 29% year to date.

Freehold Royalties

If you are willing to take a risk, Freehold Royalties (TSX: FRU) also offers a high yield of 6.6%. The company buys land and gives it to oil companies to extract oil and earns a certain percentage as royalty on the value of the output. While Freehold carries no risk of developing the land and closing the oil well, it is exposed to fluctuations in oil prices. The royalty amount depends on the dollar value of the output.

Freehold claims that it can sustain its current $1.08 dividend per share at WTI of US$50/barrel.

The post How Putting $50,000 Into This High-Yield Dividend Stock Could Generate $3,550 in Annual Passive Income appeared first on The Motley Fool Canada.

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Fool contributor Puja Tayal has no position in any of the stocks mentioned. The Motley Fool recommends Freehold Royalties, Kroger, Slate Grocery REIT, and Walmart. The Motley Fool has a disclosure policy.

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.

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.

The post Retire Richer: 2 Canadian Stocks for a TFSA Built to Last appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has positions in Brookfield Corporation. The Motley Fool has positions in and recommends Brookfield Corporation. The Motley Fool recommends Canadian National Railway. The Motley Fool has a disclosure policy.

Retirement can sometimes change the way you invest. Stocks that once looked attractive because of their growth potential may no longer feel like the best fit if they don’t provide dependable income or if their share prices swing too much. That’s why many retirees focus on high-yield dividend stocks that could deliver regular payouts while giving them exposure to businesses with the potential to generate steady cash flow over the long run.

Here are two TSX-listed dividend stocks that offer attractive yields and income potential for retirees.

A high-yield energy income pick

For retirees who prioritize dividend income, Parex Resources (TSX: PXT) is worth considering. The Calgary-based firm focuses on oil and gas exploration and production in Colombia, with operations across the Llanos, Magdalena, and Putumayo basins.

At the time of writing, PXT stock traded at $20.85 per share, giving the company a market cap of about $2 billion. Despite recent market volatility, the stock has climbed 46% over the last year while offering an attractive 7.4% dividend yield through quarterly payouts.

Although Parex reported a small adjusted loss in the first quarter of 2026, it remained focused on strengthening the business for the long term. The company generated US$114 million in funds flow from operations and US$133 million in adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) during the quarter while maintaining its regular quarterly dividend.

Parex has also taken major steps to expand its business. It recently completed the acquisition of Frontera Energy‘s Colombian upstream assets, making it Colombia’s largest independent oil and gas producer. The company now expects second-half 2026 production of 82,000 to 91,000 barrels of oil equivalent per day, supported by the acquired assets, new production from the Magdalena Basin, and continued exploration success.

Moreover, Parex continues to target shareholder returns through a stable dividend while using excess free cash flow primarily to reduce debt. These factors make it an appealing choice for retirees seeking a combination of high income and exposure to the energy sector.

A telecom dividend option

Another high-yield income stock retirees may want to add to their portfolio is Cogeco Communications (TSX: CCA). The company provides internet, wireline phone, and wireless services to residential and business customers across Canada and the United States through its Cogeco, oxio, Breezeline, and welo brands.

Cogeco stock recently traded at $63.42 per share with a market capitalization of $2.7 billion. While its shares have declined 13% over the last year, the pullback has pushed its annualized dividend yield to an attractive 6.2%, with quarterly dividend payments.

The company’s latest quarterly results show that the business continues to generate solid cash flow while making progress on its long-term growth plans. In the second quarter of fiscal 2026 (ended in February), Cogeco generated $155 million in free cash flow, up 33% year over year, while adjusted earnings rose to $1.96 per share. It also increased its quarterly dividend by 7%, reflecting management’s confidence in the company’s ability to continue rewarding shareholders.

Beyond its financial performance, Cogeco is investing in future growth. The company is expanding its wireless business in both Canada and the U.S., recently launched its new U.S. digital brand, welo, and remains on track with its three-year transformation program to improve efficiency.

For retirees, the combination of a high yield, quarterly dividend growth, and steady free cash flow makes Cogeco look like a practical income stock to hold through market ups and downs.

The post 2 High-Yield Dividend Stocks That Could Be Safer Picks for Canadian Retirees appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool recommends Cogeco Communications and Parex Resources. The Motley Fool has a disclosure policy.

If you’re around 45, you’ve probably wondered at some point whether you’re saving enough for retirement. It’s not always easy to answer that, but new Statistics Canada data for the 2023 tax year gives us a useful way to compare. Canadians aged 45 to 54 made a median Registered Retirement Savings Plan (RRSP) contribution of $4,330 and a median Tax-Free Savings Account (TFSA) contribution of $5,200 in 2023. While those numbers won’t match everyone’s situation, they can give you a better idea of whether you’re keeping pace with others in the same stage of life.

While saving is an important step toward building long-term wealth, selecting the right investments matters just as much. With that in mind, let me highlight two top Canadian stocks to consider for your TFSA and RRSP today.

Brookfield Asset Management stock

Once you know how much Canadians in this age group are putting aside, the next step is making that money work harder inside a TFSA or RRSP. And Brookfield Asset Management (TSX: BAM) could be a good example of a stock with the potential to compound wealth over the long term. It’s a global alternative asset manager with more than US$1 trillion of assets under management. It invests across infrastructure, energy, private equity, real estate, and credit.

At the time of writing, BAM stock trades at $63.21 per share with a market cap of about $103.8 billion. It also offers a 4.4% annualized dividend yield. The stock has struggled recently, slipping about 16.3% over the last year and trading nearly 28.3% below its 52-week high.

That weakness could make BAM worth a closer look for long-term TFSA and RRSP investors. In the first quarter of 2026, the company raised US$21 billion and took its year-to-date fundraising to US$67 billion. Its fee-related earnings, or the earnings it generates from management and advisory fees, rose 11% year-over-year (YoY) to US$772 million.

BAM’s long-term growth story remains tied to its ability to raise and deploy capital across large global investment themes. The company also had US$137 billion of uncalled fund commitments at the end of March, which could support future fee growth as capital is invested. For investors building retirement wealth, that makes BAM a top Canadian stock for TFSA and RRSP accounts to consider on the dip.

Nutrien stock

After Brookfield, another way to build a stronger retirement portfolio is to look at businesses tied to essential global needs. Nutrien (TSX: NTR) fits that description well. This Saskatoon-based provider of crop inputs and services operates retail, potash, nitrogen, and phosphate businesses, helping serve farmers across major agricultural markets.

After climbing around 10% over the last year, NTR stock now trades at $86.55 per share with a market cap of about $41.5 billion. It offers a 3.5% annualized dividend yield.

Its latest results showed clear improvement despite macroeconomic uncertainties. In the first quarter, Nutrien’s sales rose 19% YoY to US$6 billion. Similarly, its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) jumped 30% YoY to US$1.1 billion.

The increase was driven by higher fertilizer benchmarks, stronger Retail earnings, and record Potash sales volumes. At the same time, its retail segment’s performance also improved sharply as crop nutrient sales volumes increased and proprietary product margins strengthened in the U.S. and Australia.

Moreover, Nutrien is keeping its long-term priorities intact. Recently, it reaffirmed its 2026 guidance, continued mine automation in Potash, and is reviewing strategic alternatives for its Phosphate business, Trinidad Nitrogen facility, and Brazilian Retail business. For TFSA and RRSP investors, NTR offers income, scale, and exposure to global food demand.

The post Here Are the Typical Canadian TFSA and RRSP Contributions at Age 45 appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Asset Management and Nutrien. The Motley Fool has a disclosure policy.