Maximizing your retirement income

Feb 01, 2019 | McRae Wealth Management Group


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Retirement marks an incredibly exciting time in a person’s life. From traveling and picking up new hobbies, to volunteering and spending more time with loved ones, the opportunities of enjoyment are endless. The road to retirement requires careful planning of your goals and financials. Like many individuals, your major sources of retirement income include employer pensions, Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs), and/or provincial and federal pension plans. Did you know that a large portion of your retirement income may be subject to top marginal tax rates? There are different strategies that can help you maximize your after-tax retirement income. RBC's Ten strategies to pay less tax in retirement discusses the ten most common strategies that have helped individuals make the most of their retirement. If you are approaching retirement or have recently retired, our team at McRae Wealth Management can help you build a retirement plan and incorporate these strategies as to help you maximize your retirement income and keep you on track to achieving your goals.