Help Me Diversify $80K: TFSA, FHSA, Wealthsimple, CASH.TO

Hey r/PersonalFinanceCanada, Happy New Year!

I’m in my mid-to-late 20s, currently living at home, but I’ll be moving out soon. I’ve decided to go with the renting + investing route for now, rather than buying real estate.

I currently have about ~$70,000 sitting in a Simplii HISA, which yields a promotional 5.25% until the end of February, and ~$10,000 in my Simplii chequing account. I also have a Simplii TFSA that offers a promotional 5% until the end of March, but it’s currently empty.

That said, I’d like to diversify my cash holdings. I’ve never contributed to my TFSA or FHSA before, so I have $69,500 and $8,000 in contribution room, respectively. After doing some research, here’s the plan I’ve come up with, and I’d love to hear your feedback:

  • ~$80,000 total
    • $10,000 in a Simplii chequing account
    • $40,000 into my TFSA, which I’d use to buy XEQT
    • $8,000 into my FHSA
    • $22,000, as my “emergency fund,” either in a Wealthsimple Cash account (earning 2.25%) or in CASH.TO. If I choose CASH.TO, I'd put the $22,000 into my TFSA to use for CASH.

Any and all suggestions would be greatly appreciated!

Edit: Can someone shed insight on if I should wait out the Simplii promotional HISA rate and then utilize the TFSA promotional rate until the end of March, or should I just start moving my funds now? Thank you!

Edit 2: I missed the mark and should've included the fact that I would most likely want to pull this money out within 10 years. Nothing is concrete, but my best guess would be that. As such, I believe I should maintain the same plan, but instead funnel $62,000 into my TFSA and purchase CASH.TO. Likewise, I'd use the $8,000 within my FHSA for CASH.TO. It seems like XEQT is out of the picture for me.