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In retirement, your income is going to be coming from more than one source which is an important distinction from your professional life. As a result, tax planning becomes more important so that you do not end up with an unexpected tax bill. In this video we'll go through the process of avoiding a large tax bill in retirement, focusing in on tax planning fundamentals, withholding tax, and the distinctions between different retirement income streams.

If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to find a certified financial planner in your area or book a consultation with us to get your savings plan on track.  You can learn more about our services at https://www.parallelwealth.com/planning or email [email protected]

OUTLINE:
0:00 - Introduction
1:55 - Tax Planning Fundamentals
3:53 - Withholding Tax Explained
6:22 - Withholding Tax Rates
7:26 - Withholding Tax Example
8:44 - Strategies To Limit Tax Withheld
10:25 - Withholding Tax On RRIF Withdrawals
12:04 - Planning For Multiple Income Streams
13:39 - Multiple Income Streams Example
17:40 - Tips & Strategies
22:05 - Summary

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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.

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