To grow money in your TFSA, you need to invest in low-risk investments such as mutual funds, GICs, or other investment options that pay good interest or dividends. Utilizing the maximum contribution limit, you should invest the maximum amount every year to benefit from compounding. The longer you keep your money invested in your TFSA, the more your investment will grow. Therefore, you should contribute earlier to give your savings more time and potential to grow. If you plan to withdraw funds from your TFSA within the next 3 years, the managed TFSA with Wealthsimple lets you invest your cash in a high-interest savings ETF that pays monthly dividends.