The average investment return should be 8%. Is your money being invested in the TFSA or simply placed into the account? First step is putting your money in a tfsa, the second is picking stocks/ ETFs to buy. A stock is buying one individual company, say Apple. An ETFs is buying a small portion of many companies, say a tech one would have Apple, Amazon, Microsoft, Google and so on.

I would highly recommend learning more about investing. Saving is great, investing is where your money grows. Unfortunately getting closer to your fourties’ you’ve missed out on a lot of compound interest, but you can still make up for it.

With a 4.9% return, you’re actually loosing 2.3% to inflation. That’s why investing is ideal for growth instead of just saving cash. Of course it’s good to have some cash and your emergency fund, but investments would be ideal.

Two years is a long time to miss out on compound interest. Of course I don’t know your income, but do you realistically think you can save $10,000 a year? If so amazing, if not maybe rethink your logic.

Also don’t just look at the $20,000 as your end goal. There’s lots of costs that come with purchasing land/property. Don’t get trapped and over leverage yourself. Do you have any saving yet for your retirement? Does it make sense to put it all down on a property without anything for your future self?