RRSP or TFSA: which should you spend first?

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In this video, we explore a financial decision that resulted in a $1.9 million difference for a client based on whether to withdraw from an RRSP or a TFSA first during retirement. We look at specific client scenarios, discuss the implications of each withdrawal strategy, and consider estate planning and tax effects. We also highlight the importance of having both RRSPs and TFSAs in your retirement portfolio. Tune in for detailed insights and advice on optimizing your retirement savings strategy.



00:00 The $1.9 Million Decision: RRSP vs. TFSA Withdrawals
00:25 Client Background: Super Savers Planning for Retirement
01:28 The Big Question: Where to Withdraw First?
01:59 Maximizing Estate Worth: The Strategy
03:15 Why Registered First, TFSA Last?
06:10 CPP Deferral and Its Impact
07:26 A Different Scenario: When the Opposite Might Be True
09:59 Critical Aspects of Successful Retirement Plans
10:13 Why Everyone Should Have a TFSA

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The contents of this video do not constitute an offer or solicitation for residents in any other jurisdiction where either Evan Neufeld and/or Sterling Mutuals is not registered or permitted to conduct business. The opinions expressed are those of the authors and do not necessarily reflect the views or opinions of Sterling Mutuals Inc. Mutual funds and ETFs provided through Sterling Mutuals Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus carefully before investing. Mutual funds are not guaranteed, their values fluctuate frequently, and past performance may not be repeated.