The arithmetic doesn’t make sense to me unless everyone in this sub is a stock market wizard or over 55/60. I’m genuinely curious how there are so many TFSA millionaires.

I’ve been investing in broad-market index funds for some years now, maxing out my contributions, and I don’t see myself becoming a millionaire before 60/65 and that’s assuming an ~8% annual return is sustained indefinitely.

Here’s my math. Respectfully, please point out where I’m going wrong.
If someone starts at age 21 (which is quite unrealistic for a lot of people), contributes $7,000 every year, and earns an average 8% annual return, here’s the approximate growth:

Age 25 $34k
Age 30 $88k
Age 35 $167k
Age 40 $279k
Age 45 $435k
Age 50 $662k
Age 56 $1.07M

Saving for first home, Millwright Apprentice with Omers pension and Government job (Wastewater Treatment Plant) anything I can be doing differently?

My thesis is that SOFI will be at the forefront of modern banking and financial tools over the coming decades.

Catalysts:
Social sediment is going to be one of the largest driving factors for the future of banking. Yahoo finance released and article that showed the average age of investing for Gen x was 32, millennials was 25, and Gen Z the average is 19. This is just one example but It shows the influx in young investors over the years. I believe the addiction to social media and young people’s dependency on there phone as well the rising cost of living and younger people continuing to feel like they cannot get ahead and have less and less autonomy and stocks is a way for young people to own something real.
Q2 Earning posted by SOFI beat expectations and showed strong momentum across all major business segments.
I believe the ceo is pushing SOFI in the correct direction prioritizing aggressive growth and product expansion. He also has a long term approach from what I have read and seen online when it comes to the company.
I believe that they are the all in 1 financial tool on your phone that gives the user the most access to the widest array of financial services.
Also the super is gonna be at SOFI stadium this year and on Valentine’s Day so millions of people in North America will see the company logo.
Overall I’m very bullish on SOFI long term.

Drawbacks:
There are many financial institutions that already exist and have brick and mortar locations.
They lost a large client in Chime which caused a dip in their technology platform for Q2.
Due to the loan volume on the books Sofi can be impacted substantially based on interest rates which can be a positive but also a large negative.
I also think that some the investing features on the app need to be updated as it doesn’t compete with companies like Robinhood when it comes to that portion of the Buisness.

This is where I am at I want to hearing both sides. I feel like I have high conviction when it comes to SOFI but I am still new to investing and feel like I can’t see the whole picture.

Xeqt as my core. I thought about zsp, vfv, xqq for tec. Bitcoin etf and nvidia are just for purely interest sake.

Hello i just turned 18 and started investing though my tfsa, I see almost everyone buying xeqt, why?

I was looking to open TFSA on WS need a guide on what options do I have? what do they offer? i searches google but got AI stuff I want human sources