The 2 Stocks I’d Combine for a Strong TFSA Strategy in 2026

When it comes to your TFSA (Tax-Free Savings Account), it’s worth it to strategize so that you can take advantage of the full power that comes with tax-free compounding over time. Of course, the first step is to make sure you’ve contributed and that you’re within the cap. And, the second is to make sure the capital is working for you, collecting dividends and growing, rather than just sitting there in cash at a time when inflation remains well above the 2% level.

Of course, just because inflation is heightened doesn’t mean you should take on more risk than you can handle. What it does mean, though, is that you should give your asset allocation a second look and ask yourself if you can stomach taking a bit more risk for a shot at greater growth.

At the end of the day, stocks are a great way to get ahead, even in inflationary environments. When it comes to your TFSA, I think the following two names are worthy growth additions, especially at today’s prices of admission.

Quebecor

Quebecor (TSX:QBR.B) is a highly underrated Canadian dividend stock. And with a mere $15.5 billion market cap, the lesser-known telecom still has room to run as it makes big strides relative to its rivals in the national wireless scene. Indeed, Quebecor has done great things with Freedom Mobile, and it could continue to apply pressure on data packages across the country. The results really do speak for themselves as Quebecor executes within the province of Quebec, where Vidéotron is big, and beyond.

The stock is up a whopping 32% year to date, and while the price tag makes more sense at 17.9 times trailing price to earnings (P/E), I still think the disruptive titan could warrant an even higher multiple as it focuses on boosting its average revenues per user (ARPUs) while also bringing aboard new customers seeking more value and lower prices. Any way you look at it, the wireless momentum is on Quebecor’s side, and that makes it Canada’s best telecom to own as shares surge and the rest of the industry feels a bit of lingering pain.

With a nice, growing 2.36% dividend yield and a growth strategy that works, I think shares are still cheap despite the parabolic move in the past year and a half.

Dollarama

Dollarama (TSX:DOL) stock has been consolidating choppily in the past year, but as the firm looks to deliver on value as it expands its store count, I wouldn’t count the name out. With brilliant managers who know how to keep customers coming in its doors (by passing value onto them) and an underrated international growth engine, I think it’s time to give DOL stock a second look now that shares have cooled off and investors weigh what the next big move will be.

I think it’ll be higher as demand for value rises and the firm continues to do what it does best. While the 38.8 times trailing P/E might be too hot for some, I do think that there are a few better ways to play growth with a defensive twist.

The post The 2 Stocks I’d Combine for a Strong TFSA Strategy in 2026 appeared first on The Motley Fool Canada.

Should you invest $1,000 in Dollarama right now?

Before you buy stock in Dollarama, consider this:

The Motley Fool Canada team has identified what they believe are the top 10 TSX stocks for 2026… and Dollarama wasn’t one of them. The 10 stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 … if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have over $17,000!*

Now, it’s worth noting Stock Advisor Canada’s total average return is 97%* – a market-crushing outperformance compared to 88%* for the S&P/TSX Composite Index. Don’t miss out on our top 10 stocks, available when you join our mailing list!

Get the 10 stocks instantly #start_btn6 { background: #0e6d04 none repeat scroll 0 0; color: #fff; font-size: 1.2em; font-family: 'Montserrat', sans-serif; font-weight: 600; height: auto; line-height: 1.2em; margin: 30px 0; max-width: 350px; text-align: center; width: auto; box-shadow: 0 1px 0 rgba(0, 0, 0, 0.5), 0 1px 0 #fff inset, 0 0 2px rgba(0, 0, 0, 0.2); border-radius: 5px; } #start_btn6 a { color: #fff; display: block; padding: 20px; padding-right:1em; padding-left:1em; } #start_btn6 a:hover { background: #FFE300 none repeat scroll 0 0; color: #000; } @media (max-width: 480px) { div#start_btn6 { font-size:1.1em; max-width: 320px;} } margin_bottom_5 { margin-bottom:5px; } margin_top_10 { margin-top:10px; }

* Returns as of July 6th, 2026

More reading

• 5 Canadian Stocks to Buy and Hold for the Next 5 Years
• 3 Canadian Stocks Primed With Potential for Generational Wealth
• 2 Canadian Dividend Stocks I’d Buy for Stability and Growth
• 3 Stocks I’d Use to Build a Smart TFSA Portfolio in 2026
• 3 Stocks That Could Turn a $100,000 Portfolio Into $1 Million Sooner Than You Might Think

Fool contributor Joey Frenette has no position in any of the stocks mentioned. The Motley Fool recommends Dollarama. The Motley Fool has a disclosure policy.