24 of 25
Never stop using your TFSA
If you do reach 71 and have some hefty RRIF withdrawals to deal with, take solace in knowing that the good old TFSA is still there for you. While you’ll have to pay taxes when you cash out a RRIF, once you put that income in a TFSA, any future dividends, interest income or capital gains belong to you tax-free. Better yet, no matter how big a TFSA gets, it will never trigger an OAS clawback.
The bottom line: Likely hundreds of dollars a year in taxes on your investment returns.