Can RRSPs ever get too large?

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Canadian Registered Retirement Savings Plan concept word cloudCan a Registered Retirement Savings Plan (RRSP) ever get too large? From time to time, you’ll hear certain financial advisors say so and propose “melting down” RRSPs in a tax-effective manner.

The Financial Post just ran a piece by me on this topic, entitled The Pros and Perils of making early withdrawals from your RRSP. One of the sources cited is a familiar one to Hub readers: Doug Dahmer of Emeritus Financial Strategies often writes guest blogs in the Hub’s Decumulation section.

RRSP primer for millennials

Back in January, the Post also ran the following RRSP primer I wrote for young millennial investors for whom the idea is still a novel one: RRSPs are about much more than just Retirement. A reminder that the deadline this year is Feb. 29th: that is, if you want to reduce your taxable income for calendar 2015, you have until the end of this month to get that contribution in there.

Take advantage of lower RRIF minimum withdrawal amounts

On a related topic, albeit at the opposite end of the RRSP/RRIF continuum, my latest High Net Worth blog in the Financial Post is titled Withdraw too much from your RRIF: You may be able to put that money back and deduct the contribution again.

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