Why clients with large RRSPs and RRIFs might benefit from earlier withdrawals

Strategic withdrawals allow clients to smooth out their income levels over retirement

By Rudy Mezzetta, Advisor.ca

From the article: “Clients with large RRSP and RRIF balances might consider triggering bigger withdrawals from their plans earlier in retirement, tax experts suggest, rather than limiting themselves to making only the mandated minimum withdrawals from their RRIFs.
     
Strategic withdrawals from retirement accounts allow clients to smooth out their income levels over retirement, lowering their overall tax liability, and to manage their access to government seniors benefits.“

5 Ways scammers are targeting your bank account
By Devin Partida, Financial Independence Hub

From the article: “Staying vigilant about your online security can seem like a struggle - scammers are seemingly always innovating new ways to part you with your money or private information. This article highlights five of the more common online scams and what to watch out for.”

CRA releases forms to allow for transfers out of FHSAs
By Rudy Mezzetta, Advisor.ca

From the article: “The Canada Revenue Agency (CRA) has released forms to allow tax-free first home savings account (FHSA) holders to transfer assets from their accounts to their RRSP, RRIF or to another FHSA.

While the new registered plan officially launched on April 1, the CRA has yet to release all the forms financial providers need to administer the accounts.”