So I am going to be starting to pay alimony soon and I am looking at ways to offset the loss of that cash. I have a very good pension so the rrsp I have are not needed when I retire. They most likely take me over the clawback from the Canadian government. The alimony payments are tax deductible so I was wondering, if I were to pull out the same amount in rrsp money, would it be a wash when it came to tax time? I also took on a mortgage and I would like to pay it off before I hit 75. I am currently 52 and my pension does allow for me to retire early,62.
Looking for some advice on if this would work and any concerns I may not know about.
Submitted October 17, 2019 at 07:57PM by dougsmith353 https://ift.tt/2OYwzPY
