16-09-2017 14:00 via thestarphoenix.com

Is dipping into your RRSP fund the best way to pay off debt?

Should you dip into your RRSP to pay off debts?
Paying off debts is usually a good idea. But using your RRSP is not good if you pay too much tax. You also don’t want to jeopardize your retirement savings goals. Using TFSA savings is better since TFSA withdrawals are tax-free.
 
Tax payable
RRSP withdrawals are taxable. You could pay much more than the amount of tax that gets automatically deducted from your withdrawal. For instance, you might have 30 per cent tax deducted but you&rsqu
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