The Canadian Money Roadmap RRSP, LIRA, TFSA.... Where do you withdraw from first?
EPISODE SUMMARY
Spending is easy, but spending with the goal of reducing your lifetime tax bill isn't as straightforward. In this episode, Evan explains how your different plans (RRSP/RRIF, LIRA/LIF, Non-registered and TFSA) are treated from a tax perspective and how to prioritize your withdrawals to keep more money in your pocket.
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TOPICS IN THIS EPISODE
- Making a retirement savings withdrawal plan
- Making sure your spending is as efficient as possible to reduce lifetime taxes
- Different types of retirement accounts and how each one treats tax
- How to prioritize withdrawals
OTHER EPISODES
13. Is an RRSP the Best Choice for Your Retirement Savings
22. Optimize your Investments by Plan Type
24. TFSAs are Great but Watch Out…
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