Does First Foundation Help With Retirement Income and Tax Planning?

Yes! We do!

Retirement income typically comes from a combination of sources:

Pensions: Whether from a former employer or a government plan (CPP, QPP).
RRSPs and RRIFs: Converting these registered plans into income during retirement.
TFSAs: Accessing funds tax-free.
Investment Income: Dividends, interest, and capital gains from investments.
Government Benefits: CPP, OAS, and GIS.

Tax efficiency is crucial during retirement to maximize your after-tax income. Consider these strategies:

Tax-Deferred Income: Utilize RRIFs and annuities to defer taxes until later years.
Tax-Free Income: Maximize withdrawals from TFSAs to supplement retirement income.
Income Splitting: Explore opportunities to split income with a lower-income spouse to reduce overall taxes.
Estate Planning: Consider tax implications of inheritance and estate transfers.

First Foundation offers comprehensive financial planning services to help you optimize your retirement income:

Retirement Income Planning: Develop a tailored plan to maximize income and minimize taxes.
Tax Optimization Strategies: Explore strategies to reduce your tax burden in retirement.
Estate Planning: Protect your assets and ensure a smooth transition for your beneficiaries.

Would you like to delve deeper into specific retirement income strategies, such as converting RRSPs to RRIFs or optimizing withdrawals? Contact us!

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