RRSP, LIRA, TFSA.... Where do you withdraw from first?

The Canadian Money Roadmap

The Canadian Money Roadmap
RRSP, LIRA, TFSA.... Where do you withdraw from first?
Oct 06, 2021 Episode 29
Evan Neufeld, CFP®

EPISODE SUMMARY

Spending is easy, but spending with the goal of reducing your lifetime tax bill isn't as straightforward.  In this episode, Evan explains how your different plans (RRSP/RRIF, LIRA/LIF, Non-registered and TFSA) are treated from a tax perspective and how to prioritize your withdrawals to keep more money in your pocket.

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TOPICS IN THIS EPISODE

  1. Making a retirement savings withdrawal plan 
  2. Making sure your spending is as efficient as possible to reduce lifetime taxes 
  3. Different types of retirement accounts and how each one treats tax 
  4. How to prioritize withdrawals 


OTHER EPISODES

10. Using a TFSA Like a Pro

13. Is an RRSP the Best Choice for Your Retirement Savings 

22. Optimize your Investments by Plan Type 

24. TFSAs are Great but Watch Out…


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