Alberta's 45-Year-Olds May Be Missing Out on TSX Gains with Unused TFSA Room

A 45-year-old Albertan's TFSA savings could be higher than the national average due to Alberta's tendency to skew slightly above it. However, there is still ample unused room in the TFSA.

The first step in utilizing this unused space is investing in areas that align with long-term goals, followed by making use of the available room. The TFSA is a powerful tax-free investing account, often referred to as a 'savings account.'

Two enticing energy names, Canadian Natural Resources (TSX:CNQ) and Suncor Energy (TSX:SU), could be great additions to an Albertan's TFSA portfolio. CNQ stands out as a hedge against a return of US$100 per-barrel oil, with a trailing P/E ratio of 12.

Suncor Energy is a fast-moving integrated energy juggernaut up more than 71% in the past two years, with improved execution across its streams and structural improvements made behind the scenes. Its shares trade at a lower yield of 2.7% but are still considered a solid choice for investors.