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The Hidden Cost of 'Minimum Only' RRIF Withdrawals (And How To Avoid It)
In this episode of the AskTMFG Podcast, Senior Financial Advisor Carlo Cansino explains why taking only the minimum RRIF withdrawal may not always lead to the best long-term tax outcome.
The conversation explores how growing RRIF balances can eventually lead to larger mandatory withdrawals, higher taxable income, OAS clawbacks, and increased estate tax exposure later in retirement.
We also break down strategies retirees may use to create a more stable, tax-efficient retirement income structure, including proactive withdrawal planning, TFSA recycling, and spousal coordination.
👉 Watch the full episode here: https://www.youtube.com/watch?v=aWTsodgy6CIÂ
Question for our listeners:
Do you think most retirees focus too much on lowering taxes today instead of managing taxes across retirement?
👉 If you’d like help reviewing your own retirement income and withdrawal strategy, we’re offering a complimentary portfolio analysis:
https://tmfg.ca/portfolio-analysis/
Follow us on our social channels:
LinkedIn: The McClelland Financial Group
Facebook: https://www.facebook.com/tmfg.ca
Instagram: https://www.instagram.com/themcclellandfinancialgroup_/
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By asktmfgIn this episode of the AskTMFG Podcast, Senior Financial Advisor Carlo Cansino explains why taking only the minimum RRIF withdrawal may not always lead to the best long-term tax outcome.
The conversation explores how growing RRIF balances can eventually lead to larger mandatory withdrawals, higher taxable income, OAS clawbacks, and increased estate tax exposure later in retirement.
We also break down strategies retirees may use to create a more stable, tax-efficient retirement income structure, including proactive withdrawal planning, TFSA recycling, and spousal coordination.
👉 Watch the full episode here: https://www.youtube.com/watch?v=aWTsodgy6CIÂ
Question for our listeners:
Do you think most retirees focus too much on lowering taxes today instead of managing taxes across retirement?
👉 If you’d like help reviewing your own retirement income and withdrawal strategy, we’re offering a complimentary portfolio analysis:
https://tmfg.ca/portfolio-analysis/
Follow us on our social channels:
LinkedIn: The McClelland Financial Group
Facebook: https://www.facebook.com/tmfg.ca
Instagram: https://www.instagram.com/themcclellandfinancialgroup_/