Why 99% of Canadians Should Convert Their RRSP As Soon As They Retire
Learn more about our services at https://www.parallelwealth.com/planning When you're 71, you must convert your RRSP to a RRIF, but should you do it sooner? In this video I'll go through why for most Canadians, it'll make sense to convert right when you retire. ➡️ Withholding tax explained: • Understanding Withholding Tax And How It W... If you have any questions about this video's topic or retirement planning in general, visit https://www.parallelwealth.com/ or use the links below to learn more about our services: ➡️Fee For Service Retirement Planning: https://www.parallelwealth.com/planning ➡️Retirement Income Program™: https://www.parallelwealth.com/invest... ➡️Parallel Wealth Masterclass: https://www.parallelwealth.com/education Additional 3rd Party Links and Resources: 🔗Retirement Income for Life: Getting More without Saving More (Second Edition): https://amzn.to/3tvIdVN 🔗Free Credit Report with Borrowell: https://bit.ly/borrowellPWFG 🔗CPP Calculator: https://research-tools.pwlcapital.com... The above affiliate links are provided for your convenience. If you click on a link and end up purchasing a product or service, this channel may receive compensation for the referral. We have personal vetted each product and service we provide links to. DISCLAIMER: This presentation is for informational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments carry risk, and past performance does not guarantee future results. Any forward-looking statements are based on assumptions and may not reflect actual outcomes. The content on this channel is for educational purposes only and does not provide specific investment or planning recommendations. Viewers should consult a qualified professional for retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for any decisions made based on this content. TIMESTAMPS: 0:00 - Intro 0:40 - RRSP to RRIF conversion 2:13 - RRIF minimum 2:53 - Why convert before 71? 4:15 - Withdraw more than the minimum 7:07 - Withholding tax 10:51 - Partial conversion 12:05 - Converting back to RRSP
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