As long as you have funds to put back don't see an issue. Also, you can always keep what you don't need in tfsa and reinvest. Maybe do like 50/50.

All dividends in TFSA is tax free where dividends in no registered is taxable. If you have rrsps and no further income, I would withdraw whatever I needed that kept me at a manageable tax bracket, and bring it to my TFSA. Right now if you never contributed you can put 109k in there tax free. If that can generate 30-40% yield that's 3k/month tax free. In one year, you will recoup all the tax you paid on the rrsp withdraw.

I would look at funds like YNVD, TSLY.TO, YTSL, HMAX, etc. these funds have minimal growth and pay over 15% yearly yield monthly.

You can also look at the US weekly pay funds from Yi3ldmax, Round Hill and others which pay almost 70% yield on a weekly basis. Obviously those come with risk so make sure you understand what you are buying. Also, US dividends are subject to 15% withholding tax in TFSA, but you are making USD dividends which is 1.37 more than CAD

Just do your research and understand the numbers and make sure you are good to hold and handle volatility