Financial advisors promote early investing for youth and TFSA growth for Canadian retirees

Investors are encouraged to start building wealth as early as possible. Young people can benefit from the time advantage by investing in education, career advancement, real estate, stocks, and health, while maintaining a strong savings habit and seeking reliable mentorship.

In Canada, the average Tax-Free Savings Account (TFSA) balance for those in their mid‑50s is about $38,500, with holders aged 50‑59 averaging $35‑43 k. Financial planners suggest using the TFSA’s tax‑free growth to close the retirement‑savings gap, recommending dividend‑paying blue‑chip stocks such as Canadian Natural Resources (CNQ) to generate a pension‑like income stream over the next decade.