RRSP Meltdown - Withdraw RRSP Early and Save THOUSANDS

Описание: RRSP Meltdown - Withdraw RRSP Early and Save THOUSANDS

In this video we review the benefits of using an RRSP/RRIF meltdown plus:
➤ 2 Advantages to use an RRSP Meltdown
➤ 2 Reasons to use an RRSP Meltdown

When you first started saving into an RRSP, it's likely your retirement goals 40 years into the future were less clear. As you approach retirement your lifestyle goals become more clear and so does your determination to achieving them.

One of the areas of planning that goes unnoticed is having too much money in an RRSP. Consider a situation where your RRIF minimum withdrawal exceeds the lower limit threshold of Old Age Security (OAS). For 2023 the OAS lower limit is $86,912 and at $141,917 of income you will receive zero OAS.

The other consideration for using an RRSP/RRIF Meltdown is to minimize the risk of passing away with a large RRSP/RRIF balance. Was it your intention to give CRA 50% of your retirement assets?

The RRSP/RRIF meltdown solves both of these problems (high tax rate & passing with assets) so you can enjoy using your RRSP/RRIF during your retirement.

If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to schedule your confidential meeting with me.  You can schedule your meeting here: https://meetings.hubspot.com/david-aaron

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