Thanks. Another thing to remember is that inflation will likely make tax brackets become higher and higher in the future so don't melt down your RRSP/RIFF too early without considering inflation.
That is a good point! On the other hand though, hopefully, your account is growing faster than inflation. And if you are moving any excess contributions to a TFSA, the earlier it gets there the longer it will grow tax-free. Again, every situation will be unique.
You talk a lot at the beginning about the previous video, but you don’t give us a link to that previous video. So that’s kind of a turn off because I don’t know where to begin. I don’t even know what a RRIF is so this video is kind of useless to me.
Hello, thanks for bringing this to our attention! Here is a link to the previous video: th-cam.com/video/T5NZoOURfrM/w-d-xo.html. We also have a website with links and relevant articles here: www.retirementplanningsimplified.ca/blog
Thanks. Another thing to remember is that inflation will likely make tax brackets become higher and higher in the future so don't melt down your RRSP/RIFF too early without considering inflation.
That is a good point! On the other hand though, hopefully, your account is growing faster than inflation. And if you are moving any excess contributions to a TFSA, the earlier it gets there the longer it will grow tax-free. Again, every situation will be unique.
You talk a lot at the beginning about the previous video, but you don’t give us a link to that previous video. So that’s kind of a turn off because I don’t know where to begin. I don’t even know what a RRIF is so this video is kind of useless to me.
Hello, thanks for bringing this to our attention! Here is a link to the previous video: th-cam.com/video/T5NZoOURfrM/w-d-xo.html. We also have a website with links and relevant articles here: www.retirementplanningsimplified.ca/blog