Written by Joey Frenette at The Motley Fool Canada

In this piece, we’ll check in on a number of strategies to help turn your TFSA (Tax-Free Savings Account) into a compounding engine to help you hit your retirement milestones. Undoubtedly, for those who can max out their TFSAs, the faster ones will be able to get past that retirement finish line, whatever it may be.

Given the soaring costs of living and the likelihood that many Canadians are having to draw down from their TFSAs rather than contributing, we’ll check out a hypothetical TFSA portfolio that’s worth $20,000. With broad markets imploding on Thursday, there is perhaps no better time to start thinking about buying.

I do think that braving…