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Five ways to pay less tax in retirement

Summary by rbcwealthmanagement.com

Taking home more income during your retirement can make all the difference in the type of lifestyle you get to enjoy. And one way to keep more of your earnings is to minimize the taxes you pay. Here are five strategies to consider if you’re retired or getting close. 1. Contribute to a spousal Registered Retirement Savings Plan (RRSP) Under Canada’s tax system, you’ll pay less tax as a retired couple if you each earn $50,000/year than if one of y…

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rbcwealthmanagement.com

Five ways to pay less tax in retirement

Taking home more income during your retirement can make all the difference in the type of lifestyle you get to enjoy. And one way to keep more of your earnings is to minimize the taxes you pay. Here are five strategies to consider if you’re retired or getting close. 1. Contribute to a spousal Registered Retirement Savings Plan (RRSP) Under Canada’s tax system, you’ll pay less tax as a retired couple if you each earn $50,000/year than if one of y…

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rbcwealthmanagement.com broke the news in 2 months ago on Tuesday, January 7, 2025.

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