I’m excited to be quoted in both the National Post and in Jonathan Chevreau’s “Findepence Hub” blog!

“When is your RRSP too large?” Here are the links:

National Post

Findependence HUB

My view is that a RRSPs over $750K-$1 million may not be the most beneficial. If your tax rate on withdrawal is higher than when you contributed, then you would have been better off contributing to TFSA or even non-registered (assuming you invest tax-efficiently).

Your forced RRIF withdrawal rates in retirement are 5% at 70 and 7% at 80. Once your total taxable income gets over $75,000, your marginal tax rate (including the OAS clawback) is 44%, which may be higher than when you contributed.

 

Ed

Planning With Ed

EdSelect

Ed Rempel has helped thousands of Canadians become financially secure. He is a fee-for-service financial planner, tax  accountant, expert in many tax & investment strategies, and a popular and passionate blogger.

Ed has a unique understanding of how to be successful financially based on extensive real-life experience, having written nearly 1,000 comprehensive personal financial plans.

The “Planning with Ed” experience is about your life, not just money. Your Financial Plan is the GPS for your life.

Get your plan! Become financially secure and free to live the life you want.

Leave a Comment