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How to use a TFSA for retirement

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Manage episode 451066438 series 2851814
Content provided by Evan Neufeld, CFP® and Evan Neufeld. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Evan Neufeld, CFP® and Evan Neufeld or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Watch this episode on YouTube
In this episode of the Canadian Money Roadmap Podcast, we delve into the many benefits of Tax-Free Savings Accounts (TFSAs) for retirement income, covering one-time expenses, and leaving a tax-free legacy for your family. Discover how TFSAs can provide tax-free retirement income, offer flexibility for large expenses, and simplify your estate planning. Don't miss this eye-opening discussion that could change how you think about your retirement strategy.
00:00 Introduction to TFSA for Retirement
00:41 TFSA vs. RRSP: Understanding the Differences
01:50 Using TFSA for Regular Monthly Income
03:40 Withholding Taxes: A Deep Dive
06:23 Systematic Withdrawal Plans (SWPs)
08:02 Covering One-Time Expenses with TFSA
12:34 TFSA for Estate Planning and Legacy
16:45 Conclusion and Recap

Thinking about retirement? Get your Retirement Readiness Score 🇨🇦
Build your Retirement Plan With Evan
Contact Evan

  continue reading

169 episodes

Artwork
iconShare
 
Manage episode 451066438 series 2851814
Content provided by Evan Neufeld, CFP® and Evan Neufeld. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Evan Neufeld, CFP® and Evan Neufeld or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Watch this episode on YouTube
In this episode of the Canadian Money Roadmap Podcast, we delve into the many benefits of Tax-Free Savings Accounts (TFSAs) for retirement income, covering one-time expenses, and leaving a tax-free legacy for your family. Discover how TFSAs can provide tax-free retirement income, offer flexibility for large expenses, and simplify your estate planning. Don't miss this eye-opening discussion that could change how you think about your retirement strategy.
00:00 Introduction to TFSA for Retirement
00:41 TFSA vs. RRSP: Understanding the Differences
01:50 Using TFSA for Regular Monthly Income
03:40 Withholding Taxes: A Deep Dive
06:23 Systematic Withdrawal Plans (SWPs)
08:02 Covering One-Time Expenses with TFSA
12:34 TFSA for Estate Planning and Legacy
16:45 Conclusion and Recap

Thinking about retirement? Get your Retirement Readiness Score 🇨🇦
Build your Retirement Plan With Evan
Contact Evan

  continue reading

169 episodes

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