5 Things You're Probably Doing Wrong in Your TFSA Right Now

The TFSA is the most powerful financial tool available to Canadian seniors. No tax on growth. No tax on withdrawals. Zero impact on your GIS or OAS. But a surprising number of Canadians are using it in ways that quietly cost them thousands of dollars every year. In this video, Grace Donovan walks through the 5 most common TFSA mistakes Canadian seniors make — and exactly how to fix every one of them. ⏱ WHAT'S COVERED: Mistake 1: Treating the TFSA like a plain savings account (and the simple fix) Mistake 2: Over-contributing — the 1%/month CRA penalty most people don't know about Mistake 3: Holding the wrong investments inside the TFSA (asset location explained) Mistake 4: Not using the TFSA to protect GIS and OAS benefits Mistake 5: Leaving contribution room unused while savings sit in taxable accounts A clear 5-step action plan to fix your TFSA starting today 🔗 My CRA Account (check TFSA room): canada.ca/en/revenue-agency/services/e-services/digital-services-individuals/account-individuals.html 🔗 TFSA contribution room calculator: canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html 🔗 Watch Video 01 — GIS unclaimed: [link] 🔗 Watch Video 03 — OAS Clawback: [link] 📞 Service Canada: 1-800-277-9914 ⚠️ This video is for educational purposes only and does not constitute personalized financial or tax advice. Please consult a qualified professional for your specific situation. #TFSA #TFSAMistakes #CanadianSeniors #RetirementCanada #TFSAStrategy #SeniorFinance #TaxFreeRetirement #TFSAContributionRoom #GIS #OASClawback #RetirementIncome #CanadaRetirement #MoneyAfter60 #SeniorTaxTips #GraceDonovaFinance #RetirementPlanning #TFSACanada #SeniorBenefitsCanada #TFSAInvesting #FixedIncomeRetirement