RE:RE:RE:Short-term euphoria almost gone...I converted my full RRSP to a RRIF when I turned 65 (6 years ago) for easier income splitting. My wife is still just 67 and we will wait until she's 71 to convert her RRSP.
At this point (and for at least the next 10 years and maybe longer), we will not have to sell anything as our RRIFs as they generate more than enough dividend income to cover the required minimum withdrawal. I;ve actaully been buyig about $15k of additional dividend income stocks in my RRIF each year so far. My wife also continues to buy significant shares in her RRSP. We will stop buying at the start of 2028 and just let the extra cahs build up so we can cover the increasing minimum withdrawal in the subsequent years.
This most excellent plan is another one of the many beauties and advantages of being a true dividedn income ionvestor.
Ciao
Sarge
Red_Deer wrote: ""Now that we're down to just 12 stocks, I think our selling days are behind us (unless KEY gets taken over or something like that)""
Hey SARGE__Actually Your SELLING DAYS are Coming Up AGAIN in a Few Years eh__Once You and Wife turn that Magical 71__FORCING Yearly SELLING in Your REGISTERED Accounts
You Will NOT BE PLEASED__Take it From ME as I Have BEEN There for the Past 5 Years now.
BUT I Have DULLED the PAIN by NOT SELLING__Instead Transferring in KIND to my Margin Acct
BUT This STILL Does NOT AVOID the 100% TAXATION of these In Kind Transfers.