09 Sep Why Every Canadian Should Have an RRSP Withdrawal Plan Before Age 65
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Your RRSP may be one of your biggest retirement assets, but without a withdrawal strategy, it can also create larger tax bills later in life. For many Canadians, the years between retirement and mandatory RRIF withdrawals can create an important tax-planning window.
In this video, I explain why waiting until age 71 to start drawing from your RRSP may not always be the most tax-efficient approach. You’ll learn:
– Why your retirement tax bracket may not be lower than expected
– How CPP, OAS, pensions, and RRIF income can stack together
– Why large RRIF minimum withdrawals can create tax problems later
– How the OAS recovery tax can affect higher-income retirees
– Why the years before age 71 can be a valuable planning window
– How strategic RRSP withdrawals may reduce lifetime tax
– Why maximizing your RRSP balance isn’t always the real goal
– How to identify lower-income retirement years
– How RRSP withdrawals can be coordinated with your TFSA
– Why an RRSP-to-TFSA strategy may improve long-term flexibility
The goal isn’t simply to defer tax as long as possible. It’s to manage when and how you pay tax so more of your retirement savings ultimately stays available to you.
If you’d like to map out your own RRSP withdrawal strategy, book a call.
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PUBLISHED SEPT 4, 2026