3 Retirement Withdrawal Mistakes YOU MUST AVOID (Maximize Your Retirement Income)
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2021-08-09に共有
Once you are settling into retirement, it's extremely important to have a good plan in place so that you are maximizing your retirement income. Without a solid strategy, you may end up leaving a lot of your savings untouched when you die, or on the other hand, you may have far more tax than you would have otherwise with a plan in place. Learn from the 3 mistakes presented in the video and make sure to avoid them as you head into retirement.
If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to find a certified financial planner in your area or book a consultation with us to get your savings plan on track. You can learn more about our services at www.parallelwealth.com/planning or email [email protected]
OUTLINE:
0:00 - Introduction
1:51 - 1. Waiting Too Long To Draw Down
3:53 - 2. Overlooking Tax Rates
6:46 - 3. You Don't Ladder Income
9:24 - Summary
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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.
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コメント (21)
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One other important thing to consider when you draw down RRSP is where that money is going. If you have it invested and you don’t need it for cash flow then it will probably need to be reinvested in a non registered account assuming your TFSA is topped up.
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As usual, great tips!
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Thanks for the video and your channel. Great advice.
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Thank you for your advice. Making a plan before retirement is very important.
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Thank you. Greatest appreciated.
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Great vedio , thanks so much
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You guys totally rock. I love how you are subtly calling out the sales guys who call themselves "financial planners". I've been studying this stuff for years, and you are genuine. Respect.
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Great series - very informative.
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I found you during lock down best advice ever! I use your advice with our financial planner especially the strategy of RRSP burn down and yeah! He agreed! Your way of making us non finance types understand is your greatest skill!
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Thanks
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New subscriber here, thank you for your informative videos
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Great advice. I really appreciate the comments about financial advisors telling you not to take out your RRSP and taking your CPP instead. That happened to us and in changing over to a new advisor that does financial planning and listening to your video we regret it. Clearly our old financial advisor had a conflict of interest as he was making money even when our investments were tanking.
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As someone once said, not everyone needs a financial planner but everyone DOES need a financial plan. For my wife and I we decided to hire a fee based, fiduciary planner and are set.
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Do you use TFSA to offset Tax level hikes?
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I'm new to the channel and have subscribed, great info and clearly explain everything, superb. Cheers
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Excellent video thanks! There is one piece of information confusing. If you state that most retirees don’t spend enough in the first say 10 years and slow down spending later than why delay CPP later than 60 years old?
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Hi Adam do u have any videos that talk about retiring with a mortgage as I’ll have a mortgage payment built in my retirement budget
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I know I love to watch your show and your advice sounds so smart and logical... ¿The question that always runs through my head is.. haven't we already paid taxes on this money ..the RIf's Even the CPP /OAP .¿.. Didn't we pay taxes when we earned it and made the contributions; before it went into the retirement plans, the RSp's etc ..why are we paying taxes again?
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@Parallel Wealth I have two holding companies and one of them holds the bulk of our retierment nest egg. Can you do a video on how a person should structure income stream to the two shareholders (me and my spouse). Currently she does not work so it seems she has some room to receive dividends without drawing a large marginal tax rate. I am retiring at the end of 2021. We also both have RRSPs and perhaps we need to draw down on those first?
