Watch this episode on YouTube
In this episode of the Canadian Money Roadmap Podcast, we delve into the many benefits of Tax-Free Savings Accounts (TFSAs) for retirement income, covering one-time expenses, and leaving a tax-free legacy for your family. Discover how TFSAs can provide tax-free retirement income, offer flexibility for large expenses, and simplify your estate planning. Don't miss this eye-opening discussion that could change how you think about your retirement strategy.
00:00 Introduction to TFSA for Retirement
00:41 TFSA vs. RRSP: Understanding the Differences
01:50 Using TFSA for Regular Monthly Income
03:40 Withholding Taxes: A Deep Dive
06:23 Systematic Withdrawal Plans (SWPs)
08:02 Covering One-Time Expenses with TFSA
12:34 TFSA for Estate Planning and Legacy
16:45 Conclusion and Recap
Retirement Readiness Scorecard 🇨🇦
Looking to retire in the next 10 years or less (age 45+)?
Get your money organized - Your Full Financial Picture Spreadsheet
