• Save thousands with a spousal RRSP

  • Jan 15 2025
  • Durée: 10 min
  • Podcast

Save thousands with a spousal RRSP

  • Résumé

  • Watch this episode on YouTube

    In this episode, we explore the benefits and strategies behind using a spousal RRSP to optimize retirement savings, drawing from a real-life scenario with clients Curtis and Cynthia. The video outlines how high-income earners can contribute to a spousal RRSP under their partner's name and eventually convert it to a spousal RRIF, enabling tax-free withdrawals. We also discuss the spousal attribution rules, the significance of minimum withdrawals, and how to use these funds for TFSA contributions, ensuring the money remains tax-free.

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