{"id":4313,"date":"2026-08-17T00:11:31","date_gmt":"2026-08-17T00:11:31","guid":{"rendered":"https:\/\/smartinvestingschronicle.com\/index.php\/2026\/08\/17\/im-building-a-20000-tfsa-that-pays-me-almost-every-month\/"},"modified":"2026-08-17T00:11:31","modified_gmt":"2026-08-17T00:11:31","slug":"im-building-a-20000-tfsa-that-pays-me-almost-every-month","status":"publish","type":"post","link":"https:\/\/smartinvestingschronicle.com\/index.php\/2026\/08\/17\/im-building-a-20000-tfsa-that-pays-me-almost-every-month\/","title":{"rendered":"I’m Building a $20,000 TFSA That Pays Me Almost Every Month"},"content":{"rendered":"
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The power of \u201ctax-free\u201d inside a Tax-Free Savings Account (TFSA) can be life-changing over a lifetime. A TFSA can save you as much as 20% in taxes on your investment income over a year. While it might not be a lot in one year, it can add up in a big way over your lifetime.<\/p>\n

You can build a TFSA income powerhouse with even a modest amount of cash. If I had $20,000, here is how I would structure a TFSA portfolio to earn nearly $70 per month of extra passive income.<\/p>\n

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Source: Getty Images<\/p>\n<\/figcaption><\/figure>\n

Pembina Pipeline: A top income stock for a TFSA<\/h2>\n

The first stock I would buy for my TFSA is Pembina Pipeline<\/strong> (TSX:PPL). Now, it doesn\u2019t pay a monthly dividend. Nonetheless, with a 4.4% yield, a $5,000 investment in Pembina would earn $53.66 quarterly or $17.88 averaged monthly.<\/p>\n

Pembina is sitting at the perfect intersection of a great balance sheet and multiple growth opportunities. The company provides essential energy infrastructure across Western Canada.<\/p>\n

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Pembina has a high stream of contracted income that widely supports its dividend. Over the next five years, several major projects (LNG terminals, data centre powering, ethane extraction) will lead to attractive mid-single-digit growth. Its stock recently pulled back by 6%. It\u2019s a great time to start a position.<\/p>\n

Granite REIT: A top REIT<\/h2>\n

Granite Real Estate Investment Trust<\/strong> (TSX:GRT.UN) is the next stock I\u2019d buy for my TFSA. REITs are the perfect place to find monthly dividends. Granite yields 3.95%. A $5,000 investment would earn $16.27 monthly.<\/p>\n

Granite just delivered a very solid quarter, where funds from operations (FFO) per unit increased by 12%. The company is projecting 6-8% FFO per unit growth for 2026.<\/p>\n

Granite has modern logistics properties in great locations. Its steady investment strategy has continued to improve the quality of its portfolio. Its 98% occupancy is evidence of how well-run this REIT is. After a recent pullback, Granite is an attractive buy.<\/p>\n

Propel: A fintech for a TFSA<\/h2>\n

Another stock I\u2019d add to my TFSA is Propel Holdings<\/strong> (TSX:PRL). It\u2019s a bit of a riskier play, but it also has considerably more growth than the others. It yields 3.9% today. A $5,000 investment would earn $46.92 quarterly or $15.64 monthly.<\/p>\n

Propel provides small loans to non-prime consumers. Not only does it operate its own platform, but it also operates through smaller banks and alternative lenders.<\/p>\n

It just delivered a solid quarter where revenue increased by 26%, and adjusted earnings per share rose by 28%. It continues to have several large markets to expand into. This is a volatile stock, so it is not for the faint of heart.<\/p>\n

Topaz Energy: A low-risk energy stock<\/h2>\n

The last stock I would add to my TFSA is Topaz Energy<\/strong> (TSX:TPZ). It\u2019s a way to get oil exposure, but without operational\/production risk. It yields 4.55%. A $5,000 investment would earn $56.70 quarterly or $18.90 averaged monthly.<\/p>\n

Topaz has a mix of energy infrastructure assets and royalty land assets. It gets a percentage of production on the royalty land. Its assets are in highly productive regions, which should support strong organic growth for the future.<\/p>\n

Topaz has a record of regularly increasing its dividend. With a strong mix of assets, low operating costs, and a solid balance sheet, it should continue this record in the future.<\/p>\n

COMPANY<\/strong>RECENT PRICE<\/strong>NUMBER OF SHARES<\/strong>DIVIDEND<\/strong>TOTAL PAYOUT<\/strong>FREQUENCY<\/strong>Pembina Pipeline$67.8673$0.735$53.66QuarterlyGranite REIT$90.3255$0.2958$16.27MonthlyPropel Holdings$27.11184$0.255$46.92QuarterlyTopaz Energy$30.77162$0.35$56.70Quarterly<\/figure>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The power of \u201ctax-free\u201d inside a Tax-Free Savings Account (TFSA) can be life-changing over a lifetime. A TFSA can save you as much as 20% in taxes on your investment income over a year. While it might not be a lot in one year, it can add up in a big way over your lifetime. […]<\/p>\n","protected":false},"author":1,"featured_media":4314,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/smartinvestingschronicle.com\/index.php\/wp-json\/wp\/v2\/posts\/4313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smartinvestingschronicle.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smartinvestingschronicle.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smartinvestingschronicle.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smartinvestingschronicle.com\/index.php\/wp-json\/wp\/v2\/comments?post=4313"}],"version-history":[{"count":0,"href":"https:\/\/smartinvestingschronicle.com\/index.php\/wp-json\/wp\/v2\/posts\/4313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/smartinvestingschronicle.com\/index.php\/wp-json\/wp\/v2\/media\/4314"}],"wp:attachment":[{"href":"https:\/\/smartinvestingschronicle.com\/index.php\/wp-json\/wp\/v2\/media?parent=4313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smartinvestingschronicle.com\/index.php\/wp-json\/wp\/v2\/categories?post=4313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smartinvestingschronicle.com\/index.php\/wp-json\/wp\/v2\/tags?post=4313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}