I would only invest in RRSP to reduce tax and especially my final year before retiring early because of the pension payout and final big paycheque. I say TFSA first then RRSP if any cash still left to invest. With RRSP you can be taxed 3 ?? maybe more times. Thanks for the informative vid
RRSPs can be very beneficial where one spouse stayed home to look after children. Using the personal exemption with pension splitting, the pension tax credit, and possibly CPP sharing could allow very low tax on withdrawals. Combine this with tax free TFSA withdrawals could translate to very low tax rates in retirement
I would only invest in RRSP to reduce tax and especially my final year before retiring early because of the pension payout and final big paycheque. I say TFSA first then RRSP if any cash still left to invest. With RRSP you can be taxed 3 ?? maybe more times. Thanks for the informative vid
Interesting info Joe!
Great breakdown Joe ;-)
RRSPs can be very beneficial where one spouse stayed home to look after children. Using the personal exemption with pension splitting, the pension tax credit, and possibly CPP sharing could allow very low tax on withdrawals. Combine this with tax free TFSA withdrawals could translate to very low tax rates in retirement
Why is there a clip of American currency in the video when your talking about Canadians with RRSPs & Tfsas lol