Avoiding OAS Clawback in Retirement

Avoiding OAS Clawback in Retirement
𝗦𝗰𝗵𝗲𝗱𝘂𝗹𝗲 𝗮 𝗰𝗮𝗹𝗹 𝘄𝗶𝘁𝗵 𝗗𝗮𝘃𝗶𝗱 📅 https://meetings.hubspot.com/david-aaron

If you're nearing retirement in Canada, understanding how to maximize your Old Age Security (OAS) benefits is crucial. One of the biggest challenges many Canadians face is the OAS clawback, which can significantly reduce your benefits if your income surpasses a certain threshold. In our latest video, "How to Avoid OAS Clawback," we provide you with actionable strategies to minimize or even eliminate the impact of the OAS clawback on your retirement income. Tailored specifically for Canadians, this video is a must-watch for anyone looking to protect their hard-earned retirement benefits. Watch now to learn how to keep more of your OAS payments and secure your financial future!

1. Deferring CPP & OAS Payments:
Did you know you can defer your OAS payments to increase your benefit amount? We explain the advantages of deferring OAS, how it can reduce your taxable income during retirement, and help you avoid the clawback. By strategically timing your OAS payments, you can maximize your benefits.

2. Managing Your RRIF Withdrawals:
RRIF withdrawals are a common source of retirement income, but they can also push your income over the OAS clawback threshold. We provide tips on how to manage your RRIF withdrawals, including the use of a TFSA to shelter income from taxes, and how to plan your withdrawals to keep your taxable income below the clawback threshold.

3. TFSA Accounts:
Sadly, one of the most under-utilized investment accounts is the Tax Free Savings Account (TFSA). The strategic use of your TFSA in your withdrawal strategy is to reduce of the burden of higher RRSP withdrawals which would have increased your income tax.

4. Income Splitting:
Income splitting with your spouse or common-law partner is a powerful tool to reduce your taxable income and potentially avoid the OAS clawback. We discuss how to leverage pension income splitting and other strategies to distribute income more evenly between you and your partner, minimizing your risk of triggering the clawback.

5. Tax-Efficient Investment Strategies for your Non-Registered accounts:
Downsizing your home during retirement and dropping $1 million into your non-registered account will increase your taxable income and could create a clawback of your OAS. We explore different investment options, the benefits of tax-free growth, and how to structure your investment portfolio to minimize your exposure to the clawback.

Case Studies and Real-Life Examples:

To illustrate these strategies, we include real-life examples of Canadians who have successfully avoided the OAS clawback by implementing smart financial planning techniques. These case studies provide valuable insights and practical tips that you can apply to your own retirement planning.

𝗪𝗵𝘆 𝗬𝗼𝘂 𝗦𝗵𝗼𝘂𝗹𝗱 𝗪𝗮𝘁𝗰𝗵:
This video is not just for economists or financial experts; it’s for anyone concerned about their financial well-being in the coming years. If you're looking for ways to safeguard your investments, plan for retirement, or understand the economic indicators that could impact your future, this video is your go-to resource.

By the end of this discussion, you’ll have a clearer understanding of the driving forces behind rising interest rates, market volatility, CPP / OAS, Retirement planning and the tools you'll need for protecting your assets and ensuring a secure financial future.

Don't leave your financial future to chance. Equip yourself with the knowledge you need and consider getting professional advice to navigate these uncertain times. Subscribe for more insights and actionable tips.

Disclaimer: This video is for informational purposes only and should not be considered as financial advice.

If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to schedule your confidential meeting with me.  You can schedule your meeting here: https://meetings.hubspot.com/david-aaron

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