Business & Investment

TFSA Investment: My portfolio was 20% in 2020: this is what I will buy next

Last year was a volatile year for the Canadian market. In fact, it was the same unstable situation worldwide. It doesn’t look very good this year so far. There is a recovery from the March 2020 market crash, but there are rumors that a future market crash is underway.

Still, my investment in a Duty Free Savings Account (TFSA) was able to generate an average of 20% return on my tax-free savings account (TFSA) without making a lot of transactions. I didn’t jump into the market crash. I didn’t buy high-risk stocks. I stayed on the course with what I had. It also doesn’t talk about the 20% increase from the March 2020 crash. In other words, 20% is added from January 2020 to January 2021.

Of course, my investment in TFSA isn’t perfect, so I’ll delve into what I bought and why. I also mention that what I had wasn’t working. And of course, what’s next for my TFSA investment portfolio that you can learn?

Winner

I bought some pretty new stocks that really worked in 2020. There are three themes that should be addressed in my TFSA investment. First, there is e-commerce.I own a heavy hitter like this Shopify Inc (TSX: SHOP)(NYSE: SHOP) This surged even during the recession, primarily due to increased demand for pandemics and e-commerce. While some people are receiving the cash, I hold it tight and don’t regret it for a moment. Shopify could continue to grow with just a few dips, and so far my investment in TFSA is 200%!

Other pandemic-related stocks I bought before the pandemic Goodfood Market Corp And like healthcare stocks Viemed Healthcare Inc And Northwest Healthcare Property REIT.. These are service industries that exist throughout the pandemic, and each sees a significant increase in revenue as the other industries decline. Each has grown significantly this year, and Goodfood stands out. My stock has almost tripled at the time of writing and there is plenty of room for growth.

loser

Of course, as I said, my investment in TFSA wasn’t perfect. There are two major areas that didn’t work that well in 2020, but I still hold them. They are bank stocks and energy stocks. My bank stocks have rebounded, it’s true, but it’s just at pre-crash levels. I haven’t seen the profits I once had. But of course, these are long-term holds, and I definitely monitor them for decades, not just one year.

Next is the energy stock.Here is it tricky.. Embridge (TSX: ENB)(NYSE: ENB) For example, it’s still depressed compared to just a few years ago. The company was further affected by rumors of the cancellation of the Keystone XL pipeline rather than the Embridge project. As the Biden administration focuses on green energy and enters the White House in the United States, these companies may be the ones I’m about to abandon in the near future. But for now, they continue to pay a sweet dividend.

What’s next?

This is the real toss-up. On the other hand, my cannabis stock in my TFSA investment was very sluggish in 2020. That is a fact. Most of the cannabis is still well below where it was legalized in Canada in 2018. Production is already struggling and the virus has almost stopped it for most businesses.

But a glimpse of the hope I’m paying attention to. During the US elections in November, more states legalized the use of recreational marijuana. President Joe Biden’s administration plans to decriminalize cannabis as well.Solid company Footprint In the United States, huge profits may soon be seen.So I’m going to hold the following stocks Canopy Growth Corporation, And you can even buy more if you have a dip.

Conclusion

The overall theme I hold for investing in TFSA is to find a long-term hold. Even cannabis, if it establishes itself as a pack leader, creates a long-term option, as cannabis growth should have existed for decades. Banking, healthcare and e-commerce are all industries that stay here, with or without a pandemic. So finding such a stock that can keep my money growing is exactly what I plan to do this year and every year.

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Stupid contributor Amy Legate-Wolf It owns shares in Canopy Growth, ENBRIDGE INC, Goodfood Market, NORTHWEST HEALTHCARE PPTYS REIT UNITS, Shopify, and Viemed Healthcare Inc. Tom Gardner I own a stake in Shopify. Motley Fool owns and recommends shares in Enbridge, Shopify, Shopify, and Viemed Healthcare Inc. Motley Fool recommends Goodfood Market and NORTHWESTHEALTHCARE PPTYS REIT UNITS.

TFSA Investment: My portfolio was 20% in 2020: this is what I will buy next

https://www.fool.ca/2021/01/22/tfsa-investments-my-portfolio-made-20-in-2020-heres-what-im-buying-next/ TFSA Investment: My portfolio was 20% in 2020: this is what I will buy next

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