RE:RE:RE:RE:I am selling all my shares and retiring........ I'm a young retiree thanks to QIPT. I pulled the pin 2 years ago and I'm still not quite 52. That's right, I gave the big middle finger to my former large, classless railroad employer two years ago when QIPT cracked $9. I'm very content holding lots more for the long haul especially ow that we're back near all time highs once again.
If I can offer some advice, try to not let too much of your RRSPs drift into a RRIF at 71 years. This is because you are then tying up that money subject to minimum withdrawals each year smehich May out you offside for OAS Clawbacks and higher marginal rates later I life. Try to pull out a bit each year and spread out the taxes over multiple years and try then also to keep as much in the TFSA for a rainy day as you move forward. I try to pull a little bit out of all of my accounts each year to keep my marginal taxes at a reasonably low level. One dirty little secret about retirement is is old dudes pay about half the rates as the working stiffs when you add up; CPP, EI (Quebec BS Parental Plan), QC rip off taxes on dental and health coverage - the only province to do so, and then of course Justin's take. It's highway robbery paying 55% on your annual bonus payouts for example. Alas I digress....
Another reason why I suggest to spread out withdrawals across accounts such as; RRSPs, TFSAs, LIFs, non registered investment accounts etc is that remember that you get the amount that you pulled out of your TFSA each year you get back in new room the following tax year. So, not only do you get the tax free withdrawal in the current year but then you get that rooom back PLUS the new annual allotment for your TFSA which makes taking a bit out each year all the more appealing. You can then slam in new investments into your TFSA once again each tax year to permanently shelter them. Try to pick the investments with the lower capital gains for new contributions to TFSAs if possible to keep the tax bills down.
Good luck with the strategy but let's face it, these are really fun problems to have, aren't they? Now if you'll excuse me, it's time to resume my 10 day vacation in Aruba with the family. What are you currently doing B2B? Have you left mom's basement yet this spring break?