When to Use RRSP's and How To Structure Withdrawals to Avoid A Tax Trigger cover art

When to Use RRSP's and How To Structure Withdrawals to Avoid A Tax Trigger

When to Use RRSP's and How To Structure Withdrawals to Avoid A Tax Trigger

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 This episode is a deep dive into one of the most misunderstood investment vehicles in Canada — the RRSP. Whether you've been told to avoid them or told they're the holy grail of retirement savings, the truth is nuanced, and it all comes down to your income, your stage of life, and your strategy. Key Topics: What an RRSP actually is — and how it differs from a tax elimination tool (spoiler: it's not one) Who benefits most from contributing to an RRSP (hint: if you're earning $90K+, pay attention) The biggest mistake people make when withdrawing — the lump sum trap How to build wealth inside your RRSP beyond just "parking it in cash" Spousal RRSP contributions and how couples can use income-splitting to their advantage Why your tax refund is your secret weapon — and what we did with ours (Barbados, twice — no regrets) The TFSA, RESP, and the newer FHSA: how to think about all three buckets together What happens at age 71 when your RRSP must convert to a RRIF — and why you want to plan for this before it happens The RRSP meltdown strategy: how to draw down intentionally so you're not hit with a massive, avoidable tax bill Why you need to talk to your advisor more than once a year — and what life changes should trigger that call immediately Let's dive in! Thank you for joining us today. If you could rate, review & subscribe, it would mean the world to me! While you're at it, take a screenshot and tag me @jennpike to share on Instagram – I'll re-share that baby out to the community & once a month I'll be doing a draw from those re-shares and send the winner something special! Click here to listen: Apple Podcasts – CLICK HERESpotify – CLICK HERE This episode is sponsored by: withinUs | Use the code JENNPIKE20 at withinus.ca for a limited time to save 20% off your first order and 20% off your first subscription order St. Francis | Go to stfrancisherbfarm.com and save 15% off your all your orders with code JENNPIKE15 Eversio Wellness | Go to eversiowellness.com/discount/jennpike15 and save 15% off every order with code JENNPIKE15 /// not available for "subscribe & save" option Free Resources: Free Perimenopause Support Guide | jennpike.com/perimenopausesupport Free Blood Work Guide | jennpike.com/bloodworkguide The Simplicity Sessions Podcast | jennpike.com/podcast Get 20% on thewalkingpad.com using code "JENNPIKE20" Metabolic Guide | jennpike.com/metabolic-guide Get discounts at happybumco.com using code "JENNPIKE" *code doesn't apply with Black Friday sale* Programs: Ignite: Your 8-Week Body Transformation Program | https://jennpike.com/ignite The Peri & Menopause Project - Join the Waitlist | jennpike.com/theperimenopauseproject Synced Virtual Fitness Studio | jennpike.com/synced Services: Work With Jenn | https://jennpike.com/work-with-jenn/ Functional Testing | jennpike.com/testing-packages Business Mentorship | The Audacious Woman Mentorship: jennpike.com/theaudaciouswoman Connect with Chris: Instagram | @chrisborsellino Finance Discovery Session | Book Here Connect with Jenn: Instagram | @jennpike Facebook | @thesimplicityproject YouTube | Simplicity TV Website | The Simplicity Project Inc. Have a question? Send it over to hello@jennpike.com and I'll do my best to share helpful insights, thoughts and advice.
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