Optimizing Retirement Savings with Spousal RRSPs

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. 

Retirement Readiness Scorecard 🇨🇦

Looking to retire in the next 10 years or less (age 45+)?

Get your money organized - Your Full Financial Picture Spreadsheet