DO THIS To Avoid The RRSP Tax TRAP

In this episode of the AskTMFG Podcast, Carlo Cansino breaks down how to avoid the RRSP tax trap for Canadians approaching retirement with large registered balances. Using a $1.7 million RRSP client as an example, he walks through the key questions that shape a smart withdrawal strategy, account consolidation, spousal income splitting, other assets, retirement income needs, CPP/OAS timing, TFSA room, and current versus future tax brackets, then lays out the actual plan: drawing down RRSPs early while in a lower bracket, redirecting some withdrawals into TFSAs, and timing government benefits to avoid clawbacks.

👉 Watch the full episode here: https://youtu.be/10vNX3NenUM 

Question for our listeners: Do you have a withdrawal order mapped out for your RRSPs, or are you planning to figure it out at 71?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

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