“Long-term consistency beats short-term intensity.” This phrase of martial arts expert Bruce Lee holds true even in the investing world. You are better off getting a 6% annual return consistently over the long term than betting on the possibility of a 200% return in six months. The stock market has options for both investors. What matters is your financial needs. The Tax-Free Savings Account (TFSA) will help you make your strategy tax-efficient.

Building a $25,000 TFSA balance from $7,000 in contribution room

The best use of a TFSA is investing in growth stocks, the ones that can convert $7,000 to $25,000. A 20% compounded annual growth rate (CAGR) over seven years can help you achieve that….