Quote:
Originally Posted by chemgear
Is there an amount in the your RRSP's that is considered "too big" tax wise? Generally always thought that hitting the maximum every year was a bare minimum savings wise but maybe you can go too far?
(Want to make sure that I allocate my $4 million+ here.  ) |
Means tested benefits could be reduced as a result of too high of income. But (assuming a couple rather than single) if you will have a combined income of 180k per year in retirement you probably should have just retired earlier.
More generally if your income tax bracket is the higher today then it will be in retirement you are generally better off with money in RRSPs than TFSA or taxable.
But make your self a spreadsheet and run test cases. A lot of it is it depends.