Tax Wise Decumulation in Retirement (EP 44)

Learn more about the Fundamental Retirement Plan: https://www.fundamentalwealth.ca/get-startedRetirement is not just about building wealth. It is also about withdrawing your money in the most tax efficient way possible.In this episode of Retiring Canada, we discuss tax wise decumulation strategies and how retirees can reduce taxes throughout retirement while protecting their long term financial future.You will learn how RRSPs, RRIFs, LIRAs, TFSAs, and non-registered accounts work together within a retirement income plan. We also explain why some retirees may benefit from drawing additional funds from registered accounts earlier in retirement, even if the money is not immediately needed for spending.We also cover the impact of mandatory RRIF withdrawals, OAS clawbacks, estate taxes, and why the number at the bottom of your investment statement may not tell the full story after tax.This episode is for Canadians approaching retirement or already retired who want to better understand how to minimize taxes and create a more efficient long term retirement income strategy. WANT EVEN MORE RETIREMENT PLANNING TIPS?Join thousands of other Canadians and subscribe to the ⁠Retiring Canada Newsletter.⁠https://www.retiringcanada.ca/retirement-newsletterAs a thank you, you'll receive a copy of our latest Retirement Guide AND MORE!EPISODE RESOURCES:📊 Work with Michael: https://fundamentalwealth.ca/get-started💻 Subscribe to the Newsletter: https://www.retiringcanada.ca/retirement-newsletter👉 Download Our Latest Retirement Guide: https://www.retiringcanada.ca/retirement-guide✏️ Submit Your Question: https://www.retiringcanada.ca/submit-your-question🌐 Retiring Canada Website: https://www.retiringcanada.ca