Registered retirement savings plan
330
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65
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Search complete. 330 mentions across 65 episodes found for "Registered retirement savings plan".
Sep 11, 2026
Carlo CansinoHOST
Both retired at age 65.
Carlo CansinoHOST
One with a $60,000 a year indexed pension, the other with $900,000 sitting in an RRSP.
Carlo CansinoHOST
On paper, the second one looks like they won.
Carlo CansinoHOST
But run the tax math at age 75 and the story isn't nearly that simple.
Carlo CansinoHOST
Every year we sit down with both types of retirees, the ones with a workplace pension and the ones who built their own nest egg through an RRSP.
Carlo CansinoHOST
And almost every one of them assumes the same thing.
Carlo CansinoHOST
More money in the account means more security, and the pension person is the one who must watch every dollar.
Carlo CansinoHOST
That assumption gets tested hard the moment mandatory withdrawals kick in.
Tré BynoeHOST
Right, I guess I will a little bit.
Tré BynoeHOST
So an RRSP basically moves income from one year into another.
Tré BynoeHOST
So a lot of people use it for different things.
Tré BynoeHOST
But if you're like, okay, you work at a bank.
Tré BynoeHOST
So what are some of the things that you think people would be using RRSPs for? Or did you see people using RRSPs for?
SierraHOST
well, retirement, obviously, but sometimes they would make withdrawals for like other things.
SierraHOST
And I was like, a very few amount of times, because I remember Like it was obviously we would not recommend doing
Tré BynoeHOST
that.
Clem ChambersHOST
So if you want to get out, you can get out of half of one of those positions without, you know, getting beaten up by the market maker.
Robbie BurnsGUEST
I tend to test, before I sort of get any bigger stakes, I tend to test using the, you know, using the RRSP, what's it called, RRSP, to see how many shares the market makers are happy to sell and buy.
Robbie BurnsGUEST
Both of those, I've been able to do a 25, 30 grand's worth without any effort.
Robbie BurnsGUEST
Obviously, if the shit hits the fan, there's a profits warning.
DaynaGUEST
So I think I was 23.
DaynaGUEST
And I opened a RRSP account with the bank and you just fill out a form that decides your risk tolerance or how risky you want it to be.
DaynaGUEST
And then they invest your money for you.
DaynaGUEST
So I hadn't invested that way for two years and it did not change.
Richard CanfieldHOST
I got a bunch of money in that 401k.
Richard CanfieldHOST
However, the problem with that is, whether it's 401k or a registered account in Canada, like an RRSP, is that at death, then you would have to pay a state tax on it, unless you can do what we refer to as a rollover or a way to pass that over tax-free to the beneficiary.
Richard CanfieldHOST
Usually that's a one-time pass to a spouse.
Richard CanfieldHOST
And so a rollover might apply, in which case, in general, these types of fund registered accounts, in general, they're not very liquid.
JerryAUDIENCE
Good day, Stan.
JerryAUDIENCE
For my RRSP, I'd like a Canadian bond ETF that yields close to 4% if that's possible.
JerryAUDIENCE
And I don't like too much downside to the risk like everybody else.
JerryAUDIENCE
And will rising yields affect this? And thank you very much for everything.
Nicole DuddingGUEST
She's from Avizo Wealth Management.
Nicole DuddingGUEST
She's going to share with you on how your retirement income and investment assets, such as RRSPs, TFSAs, and the proceeds from the sale of the assets of your home and farm can be used for your living expenses as you enter that next chapter in life.
Nicole DuddingGUEST
And we'll have Jeremy Wakefield here, a lawyer representing estate management, or pardon me, estate planning, and then of course me here representing Wellings of Lloydminster, where we believe your home and your lifestyle should be just as vibrant as you are.
Kurt PriceHOST
Where does it start, Nicole? Like where, where does it start? It starts with the downsizing, I think.
Gary PreisserGUEST
And what I love about that is not only does it say something needs to change, we know exactly what needs to change and how because we're being specific about those questions and we know how the timing changes.
Nicole GartonHOST
So we have in Canada, our equivalent of retirement funds are called RRSPs.
Nicole GartonHOST
And when you turn 71 in Canada, they basically force you to turn it into what's called a RRIF and there's like mandatory withdrawals.
Nicole GartonHOST
So how do you manage situations like that where there's absolute requirements to take out certain amounts every year?
Moira RoseGUEST
And when you look at TFSA contribution room each year, when you look at...
Moira RoseGUEST
RRSP contribution room each year.
Moira RoseGUEST
Those both have changed with the rate of inflation, and yet the grants and the contribution room with the RESP have not, even though post-secondary has effectively been deregulated and the cost of post-secondary has increased more, substantially more than just the cost of inflation.
Moira RoseGUEST
So, you know, there's a whole sort of I think, discussion right now that we're having about how young people are getting screwed out of the housing market, out of the job market.
Chris BakerHOST
So before leaving Canada, your TFSA needs some attention before you hit that airport runway.
Chris BakerHOST
Now here's another misconception about your RRSP as well.
Chris BakerHOST
Say I've got $700,000 in my RRSP.
Chris BakerHOST
I'm leaving Canada.
Chris BakerHOST
What happens to that $700,000? You don't simply lose your RRSP because you leave, but withdrawals by a non-resident are generally subject to 25% Canadian withholding taxes, unless a tax treaty reduces that rate.
Chris BakerHOST
And that's where destination planning becomes enormously important.
Chris BakerHOST
Canada has tax treaties with various countries and those treaties can change how certain Canadian retirement income is taxed.
Chris BakerHOST
And there is another obscure provision worth knowing about too.
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