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Preserving a Nest Egg: Strategic RRSP Withdrawals Explained

When retirement arrives, the challenge shifts from saving money to spending it wisely . For someone sitting on nearly $3 million in savings, the key question is how to draw down their RRSP in a way that minimizes taxes while ensuring her wealth supports her lifestyle for decades. 1. Start Withdrawals Before Age 71 RRSPs must be converted to a RRIF (Registered Retirement Income Fund) by age 71. If someone waits until then, mandatory minimum withdrawals could push her into the highest tax brackets . By starting withdrawals earlier, she can smooth out her taxable income over time, reducing the risk of large tax bills later. 2. Delay CPP and OAS Delaying Canada Pension Plan (CPP) and Old Age Security (OAS) until age 70 increases benefits significantly. This allows someone to rely more on RRSP withdrawals in their 60s, keeping taxable income balanced and avoiding OAS clawbacks. 3. Use a “RRSP Meltdown” Strategy Gradually withdraw RRSP funds while offsetting taxes with interes...
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Netanyahu’s Stern Warning to Iran Amid Escalating Tensions in Lebanon


                                              

Prime Minister Benjamin Netanyahu issued a stark warning to Iran on Monday, emphasizing Israel’s capability to strike its enemies anywhere. This declaration comes in the wake of intensified Israeli airstrikes in Lebanon, which have targeted Hezbollah strongholds and resulted in significant casualties.

Netanyahu’s message, delivered via a videotaped address, was directed at the Iranian government rather than its people. He underscored that Israel’s military actions are a response to threats posed by Hezbollah, a group backed by Tehran. The recent airstrikes, including one that leveled an apartment building in central Beirut, have heightened regional tensions.

The Israeli Prime Minister’s warning highlights the ongoing volatility in the Middle East, with potential implications for broader geopolitical stability. As Israel continues its military operations, the international community watches closely, concerned about the possibility of further escalation.


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