Maximize Your TFSA: Earn Up to $1,804 in Passive Income with go easy Stocks in 2024
Invest $7,000 in go easy for Potential Returns of $8,804 – A Guide for Tax-Free Savings Account Investors
According to The Motley Fool, Canadian investors can use their Tax-Free Savings Account (TFSA) to earn up to $1,804 in passive income by investing in dividend-paying stocks like go easy (TSX). The most you can put in a tax-free savings account has gone up to $7,000 in 2024. There is a past of the company giving high returns, so investors can benefit from putting this much money into go easy shares. Go easy, a company that helps people get non-prime loans, has grown a lot. In the second quarter of 2024, they gave out a record $827 million in loans.
People can buy 38 shares of go easy stock with a $7,000 investment. In a year, the purchase will be worth $8,626 if the stock price rises to $227. earnings of about $178 are also possible, for a total possible return of $8,804. This includes $1,804 from earnings and $1,804 from stock price gains.
Why go easy Remains a Strong Tax-Free Savings Account Investment Despite Not Being a Top Pick
Go easy isn’t one of The Motley Fool Stock Advisor Canada’s top picks right now, but it is still a good way to make money with a Tax-Free Savings Account. It does well and has room to grow, so it’s a good choice for people who want to make money tax-free in 2025.