If you’ve got $45,000 to invest and a long-term horizon, allocating it thoughtfully across quality Canadian stocks can help balance income, growth, and risk. Instead of chasing the highest yield or the flashiest tech names, the strategy here is to build a diversified portfolio that includes stable cash-flow businesses, market leaders, and structurally advantaged companies.
A foundational piece of this plan is Royal Bank of Canada (TSX: RY). Canada’s largest bank benefits from a diversified business mix — from retail and commercial banking to wealth management and insurance — which helps smooth returns through economic cycles. Banks tend to perform well in rising-rate environments because net-interest income expands, and they offer competitive dividend yields backed by strong capital positions. For long-term investors, this type of core financial exposure provides both income and growth potential as earnings expand over time.
Another strong pick is Enbridge Inc. (TSX: ENB), a major energy infrastructure company with one of the most extensive pipeline networks in North America. Enbridge earns stable, fee-based cash flows from transporting crude, liquids and natural gas, and has a history of prioritizing payout growth and disciplined capital allocation. Its dividend yield usually sits above the market average, providing reliable income while its asset base collects long-term tariffs and tolls. This makes ENB appealing in a buy-and-hold context.
To add an element of growth exposure, consider a position in Shopify (TSX: SHOP). While SHOP doesn’t offer dividends, it remains a leader in the e-commerce platform space with millions of merchants globally. Its recurring revenue model and ongoing investments in payments, logistics, and AI-enabled tools give it multiple channels for expansion. Although volatile, growth names like Shopify can provide a balance to the more defensive positions in your portfolio.
Also Read: Long term investing in Canada
Finally, rounding out the $45,000 allocation with exposure to a monthly income ETF, such as the CTV (Covered Call ETF) or similar, can help deliver cash flow without placing all your bets on individual stocks. These ETFs employ strategies that generate enhanced monthly distributions and reduce reliance on single-company performance.
Also Read: Stock investment Canada for beginners
By splitting your capital across core financials, energy infrastructure, a high-growth technology name, and an income-oriented ETF, you diversify across sectors and return drivers. This helps mitigate concentration risk while positioning your portfolio for both income and capital appreciation through market cycles.
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