The $1 Million RRSP Tax Problem

If you are a successful Baby Boomer, when it comes to your retirement plans, you are probably asking yourself:

Will I have enough money to retire, when I want, the way I want?

But, what you should really be asking yourself first is:

How can I eliminate taxes on future RRSP withdrawals?

Whether your retirement is imminent or still several years away, the crucial answer to this last question will provide the clarity you need to answer the first.

The Government Wants Its Half of Your Money Back

All of your working years you’ve been told contributions to your RRSP will build your retirement nest egg.

True, to this point, you’ve enjoyed a tax free ride.  Both contributions and investment growth have been free from taxation.

You’ve been lied to.

The tax free party ends when you start withdrawing from your RRSP to fund your retirement.  Thus, eating into the retirement nest egg you’ve worked so hard to accumulate.

This is your actual future: a $1 Million RRSP Tax Problem.

Successful baby boomers will have a significant tax problem with their RRSP upon eventual withdrawal – the government hasn’t collected any tax revenues from you yet.

If you have already accumulated more than $500K in your RRSP, it is likely to grow to over $2 Million over the next couple of decades – and that will create a $1 Million tax liability.

And ultimately, the government wants its half of your money back!

Eliminate Taxes on RRSP Withdrawals

Tax Free Savings Accounts (TFSAs) are a relatively new federal government savings program.

Instead of inefficiently utilizing your TFSA as a short-term savings vehicle as has been marketed by the banks, think of them as a complete mirror image to a RRSP in that money contributed into a TFSA is already Tax Paid!

This crucial element means that withdrawals from a TFSA will never be taxed!

So, how can you eliminate taxes on future RRSP withdrawals when you’ve already built up your RRSP?

The solution to make the $1 Million tax problem go away is to ultimately minimize the value of your RRSP and maximizing the value of your TFSA leading into your retirement.

TFSAMaximizer™ provides the investment & tax planning bridge required to flow an RRSP into a TFSA through a tax neutral and self-funding transfer over time – thus solving the $1 Million RRSP Tax Problem!

Solve Your $1 Million RRSP Tax Problem

My investment advisory practice specializes in the implementation and ongoing management of TFSAMaximizer™ for clients whom need to solve their $1 Million RRSP Tax Problem.

Call me directly at 416.838.3617 to discuss how we can solve yours!

And, be sure to forward this email to whomever you believe is also facing this preventable future.

Sincerely,

Nathan