When and how should I start drawing on my retirement savings?
Ask MoneySense
Do you have any tips for withdrawing from an RRSP?
Some background: My spouse and I are debt-free and mortgage-free. We own our home (current value approximately $1 million). We are hesitant to downsize as this home is accessible for me.
I have approximately $650,000 in RRSPs and $105,000 in TFSAs. At 65, my CPP monthly estimate is $1,200. My spouse has $185,000 in RRSPs and no TFSAs. He is expecting a small monthly defined-benefit pension of approximately $1,900 at 65.
Read more »