tag:blogger.com,1999:blog-4840716514606746719.post5102562868579205800..comments2024-02-08T16:49:02.022-08:00Comments on Investing, Economics Mostly: My Withdrawal ExperienceSPBrunnerhttp://www.blogger.com/profile/10497905201043436744noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4840716514606746719.post-26402679797076653632015-05-22T07:46:14.212-07:002015-05-22T07:46:14.212-07:00Time will tell what happens to my OAS if I can tou...Time will tell what happens to my OAS if I can tough it out till I am 71 by living off my non-registered funds. Until then I will pull OAS except for maybe this year as I am still pulling a salary plus dividends.<br />I did not sit down to figure it out but I was hoping to "maybe" pull the supplement as well if I can transfer enough over to my TFSA to reduce my dividends. That way i would have just QPP. OAS and a very small company pension to declare along with the dividends. Will figure it out when i get there.<br /><br />Take care. Have a good weekend<br /><br />RICARDOAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4840716514606746719.post-61819792499322814302015-05-21T11:52:35.887-07:002015-05-21T11:52:35.887-07:00What I tried to do (quite unsuccessfully I might a...What I tried to do (quite unsuccessfully I might add) was to run down my RRSP funds before 71. My calculations show that I will be paying lots of tax on RRIF withdrawals and get no OAS. SPBrunnerhttps://www.blogger.com/profile/10497905201043436744noreply@blogger.comtag:blogger.com,1999:blog-4840716514606746719.post-64559880136586721692015-05-21T06:17:02.648-07:002015-05-21T06:17:02.648-07:00Good Morning SP;
I plan on retireing this year as ...Good Morning SP;<br />I plan on retireing this year as well, I will be 65 years of wisdom (or follie) in September.<br />My plan of attack for my funds at that time are obviously the CPP(QPP for me), OAS, a very small company pension and then utilize my non-registered funds to one, supplement the preceding revenue sources and two, max out the TFSA every year. Once the non-registered funds are used up I hope I am close to 71 years for the conversion of the RRSPs in to a RRIF. I am hoping the six year interval, 65 to 71, will have boosted the RRSPs by a significant amount before conversion to a RRIF. Seeing the withdrawal rates from a RRIF are now reduced will help maintain the principal for a longer period.<br />Any excess funds can be diverted to the TFSA unless otherwise needed.<br /><br />My non-registered funds are based on a HELOC. Last year the HELOC service interest was >$3K, dividends were >$14K<br />So the interest is tax duductible, the dividends are taxed at a lower rate, all dividends go to pay the HELOC charges as well as pay down the principal.which eventually allows me to buy more dividend paying equities. How do I manage to get such returns from this? Time in the market. It has been several years I have been doing this so the principal is now significantly higher than the HELOC and therefore the dividends are as mentioned.<br /><br />As mentioned in a few other blogs, it is not timing the market, it is time in the market.<br /><br /><br />Regards<br /><br />RICARDOAnonymousnoreply@blogger.com