MoneySense.ca has just published the second instalment of my new Retired Money columns. Click on the highlighted headline for the full piece: Climb into a higher tax bracket — and save money.
Yes, the concept may seem at first blush a bit contradictory but strange things can happen when you’re in the netherworld between full-time employment and full-stop retirement.
A period of semi-retirement (or what we call Victory Lap Retirement in an upcoming book I’ve written with Mike Drak) brings with it various opportunities to pay a little more tax than necessary while you’re “basking” in a relatively low tax bracket, in order to pay a lot less tax once those large RRSPs grow into even larger RRIFs and their forced annual (and taxable) withdrawals once you reach age 71.
![dougdahmer](https://findependencehub.com/wp-content/uploads/2014/12/dougdahmer-248x300.jpg)
One of the sources for the piece is Emeritus Financial Strategies’ Doug Dahmer, a Hub contributor who has penned many blogs on this theme, most of them housed in the Decumulate & Downsize section. Doug is pictured to the right.
Check out some of his earlier Hub guest blogs:
Debt is more than a four-letter word during your drawdown years.
Timing of CPP Benefits: Get both a bird in the hand and two in the bush.