One of the most expensive financial mistakes Canadians make πŸ‡¨πŸ‡¦ Leaving their TFSA in cash. $500/month at 2.5% for 35 years β†’ $310,000. $500/month at 8% for 35 years β†’ $1,050,000. Is yours invested or parked?

Aug 3, 2026 Β· 2:12 PM UTC

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Replying to @LegacyPathCA
Gotta make your money work for you
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Gotta stay invested
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Replying to @LegacyPathCA
what happens when we all stop leaving it in cash ?
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We all become tax free millionaires
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Replying to @LegacyPathCA
They really need to change the name of the TFSA so people stop thinking about it and using it like a savings account
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I agree bud πŸ’― renaming it would help a lot
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Replying to @LegacyPathCA
The badly misnamed β€œSavings” Account is actually the most powerful tax free compounding machine available to Canadians. Use it properly. Invest in assets that outpace inflation.
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The name is very misleading. If it was called an investment account it would reduce a lot of the confusion
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Replying to @LegacyPathCA
Or not even putting the money into the TFSA to begin with.
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True, lots of people aren’t even contributing and missing out on tax free growth
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Replying to @LegacyPathCA
Exactly leaving it in cash is basically letting inflation eat your future wealth. You gatto make it work for you.
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2.5% barely keeps up or loses to inflation most years
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Replying to @LegacyPathCA
How about never opening a TFSA lol
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Lol even worse
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Replying to @LegacyPathCA
Huge mistake! Better to use the TFSA to invest in the stock market. There are plenty of high interest savings accounts for cash.
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Exactly. TFSA is best used as an investment vehicle, not a savings account
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Replying to @LegacyPathCA
those numbers put it into perspective
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The difference is crazy
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Replying to @LegacyPathCA
It is absolutely bonkers for folks to keep cash in TFSA
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Replying to @LegacyPathCA
Compound interest. The 8th wonder or the world
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Replying to @LegacyPathCA
I've met a few people who literally think it's a savings account. Only after explanation do they realize it's actually an investment account. Maybe the name was too misleading?
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Replying to @LegacyPathCA
Invested $TSL
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Replying to @LegacyPathCA
Great reminder. Cash feels safe, but over a long time horizon, inflation can quietly reduce its purchasing power. Understanding your options is a key part of investing.
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Replying to @LegacyPathCA
Putting cash in your tfsa is like buying a ferrari to park it in the driveway. the tax shelter does nothing unless something actually grows inside it. what are people even holding in theirs
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Replying to @LegacyPathCA
Its name is misleading: a saving account.
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Replying to @LegacyPathCA
Are you holding your emergency fund in ur TFSA in something like cash.to or strictly cash or a different account/holding all together?
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Replying to @LegacyPathCA
Follow me if you want to stabilize your finance
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Replying to @LegacyPathCA
Diversify your investment, not in one vehicle.
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Replying to @LegacyPathCA
If you die, you tfsa will be on sale even if the marker is way down...
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Replying to @LegacyPathCA
Show me your guaranteed 8% for 35 yrs.....I have some swamp land to sell you lol
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