I have a little money growing in a tax free savings account. At age 71 at one is forced to begin liquidating one's RSPs on a schedule dictated by the government. It is good to move as much of that RSP money into a TFSA as possible. I've started.
In the graph above my TFSA is the blue line. As you can see, since opening the account, I have, for the most part, stayed above the S&P/TSX Composite and the S&P/TSX 60 Index. The big difference, I see it as an advantage, is that I have realized more of my growth in cash than those benchmark indexes. Why? Because all the investments are dividend paying stocks. One equity, before the dividend was cut, had a better than 11% yield.
With my investment up more than 20%, I'm thinking I might be bold and put the growing cash into PIN. PIN is the Purpose Monthly Income Fund. It is a nicely balanced ETF with both Canadian and U.S. equities plus a nice assortment of bonds. It yields almost 5% in cash annually.
With interest rates remaining so very low, it can be difficult for a retiree to find adequate cash income without taking on more risk than one would like. So far, I've been lucky. I've taken on the risk and I've been very nicely rewarded. After more six years in retirement, it would take a heck of a downturn to drop my portfolio into the red compared to where I entered the market.
p.s. Two of the big movers in my TFSA are Norbord and Royal Bank. As the U.S. economy continues to improve, the housing starts in the States should keep growing and this should pull my Norbord stock to new heights.