Why 99% of Canadians Should Convert Their RRSP As Soon As They Retire

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When you're 71, you must convert your RRSP to a RRIF, but should you do it sooner? In this video I'll go through why for most Canadians, it'll make sense to convert right when you retire.

➡️ Withholding tax explained:    • Understanding Withholding Tax And How It W...  

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DISCLAIMER: This presentation is for informational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments carry risk, and past performance does not guarantee future results. Any forward-looking statements are based on assumptions and may not reflect actual outcomes.

The content on this channel is for educational purposes only and does not provide specific investment or planning recommendations. Viewers should consult a qualified professional for retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for any decisions made based on this content.

TIMESTAMPS:
0:00 - Intro
0:40 - RRSP to RRIF conversion
2:13 - RRIF minimum
2:53 - Why convert before 71?
4:15 - Withdraw more than the minimum
7:07 - Withholding tax
10:51 - Partial conversion
12:05 - Converting back to RRSP