Based on the most recent figures, if you’re over 75 and you received the average CPP payment for 2023 ($760.07), that was $9,120.84 per year. That’s often not enough for most Canadians to comfortably retire. If you look at the average CPP payment for 2023 plus the maximum OAS ($...
Withdrawing a substantial amount of your investments before 70 can also mean that you get to keep more of your money due to being in a lower tax bracket when you withdraw RRSP income – and can even help avoid the OAS clawback by spreading your withdrawals over more years. Finally, when...