Don't let anyone tell you that the Tax-Free Savings Account (TFSA) is only useful for short-term savings objectives. Sure, the TFSA is an excellent choice of an account when working towards a short-term goal. The tax-free withdrawals provide lots of flexibility. However, if you've got time on your side, the TFSA could be your ticket to an early retirement.

How to maximize growth in a TFSA

Everybody would prefer to get rich quickly rather than slowly. Unfortunately, when it comes to making money in the stock market, patience is a key ingredient of a winning portfolio. Of course, there's no stopping anyone from turning a quick profit in the stock market. But the reality is that predicting short-term movements in the market is incredibly difficult.

What makes the TFSA so lucrative for long-term investors is the ability to earn tax-free compounded growth. In addition to not paying any tax on withdrawals, any incremental gains earned within a TFSA are also not taxed. In the short term, that might not be a major selling point. But over multiple decades, there's no reason your TFSA could not at least partially fund your retirement.

With that in mind, I've reviewed two top Canadian stocks that are perfect for a long-term TFSA investor. There will be volatility along the way, but there's no denying the ability of these two stocks to be market-beating growth drivers for years to come.

Stock #1: Shopify

Shopify (TSX:SHOP) has been on an incredible bull run over the past two years, returning more than 200% to its shareholders. Even so, the tech stock remains 25% below all-time highs, which were last set in late 2021.

While Shopify might be loaded with growth potential, investors should be prepared for a bumpy ride. One downside of owning a market-beating growth stock like Shopify is the volatility.

When times are good, the gains seem to pile up. But at some point, reality will set in, and there will be volatile periods. As a result, short-term investors may opt for a more conservative stock than this one. Long-term investors, however, have the luxury of being able to wait out the volatility.

If you're willing to be patient and add to your position along the way, there's no reason to doubt Shopify's ability to continue crushing the market's returns.

Stock #2: Brookfield

Brookfield (TSX:BN) is a great all-around stock to add to any long-term investment portfolio.

The $125 billion company is a well-diversified asset manager with operations spread across the globe. Adding shares of this stock to your portfolio provides you with instant diversification.

But as diversified as the company is, it hasn't had any trouble outperforming the market's returns. Over the past five years, shares of Brookfield are up 100%. In comparison, the S&P/TSX Composite Index has returned just shy of 50%, excluding dividends.

Brookfield's returns might not be on the same level as Shopify, but it likely won't be anywhere near as volatile.

Investors looking for a reliable growth driver to add to their portfolio should have Brookfield at the top of their watch list.