How come this EXCELLENT channel does not have more subscribers ?!?!? You are really good sir. I am subscribing ! I am 62 and just retired a year ago. I totally agree with your scenarios.

@wellbuiltwealth

10 ай бұрын

Thank you for the very kind words! I’ve only been working on the channel for just over five months and it seems most things simply take a bit to get them off of the ground. Hopefully, we pick up more and more traction though. But in the meantime, really appreciate your support :)

@mathieuleger473

9 ай бұрын

​@@wellbuiltwealthgood advise

@MssTibbs

8 ай бұрын

Probably doesn't have more subscribers because the average Canadian either doesn't have RRSP's or will most likely "run out" of any RRSP's they've saved and therefore not the slightest bit worried about the non existent "Massive" tax savings.

@wellbuiltwealth

8 ай бұрын

@@MssTibbs And because I don’t have very nice hair.

@1983dmd

8 ай бұрын

@@MssTibbs Yes, the ''magical thinking''!! Why worry, this is too distant in the future and the government pensions will be OK....Ohhh boy, gooood luck....!!!

I am impressed how much information you give out in only 23 minutes with no nonsense. Thank you and I am happy to subscribe.

Another Fantastic video Reece. I am 63 and I just learned more in a 23 minute video from you than I did in 35 years from my now just recent former financial/tax advisor. Pretty sad. Thanks so much appreciate your advice!

@wellbuiltwealth

11 ай бұрын

Well, thank you! Glad it helped :)

@parkerbohnn

10 ай бұрын

You didn't learn about tax brackets and rebates from the government.

@AsianVideoGamer

8 ай бұрын

Sounds like your advisor is just a salesperson for some fund company or insurance company

Excellent video. Finally someone who puts RRSP taxation and strategies in very easily understandable terms. You speak & explain everything really well. I thoroughly enjoyed this video. Keep up the good work.

Boy, I just clicked on your video, and loved it, Reese. You're good: Clear voice, RRSP topic well explained, sound, non-biased presentation. I strive to be like you! So glad I found you. I look forward watching more of your videos. Keep up the good work!

@wellbuiltwealth

9 ай бұрын

Wow, thank you! Very kind words :)

Great video Rhys, appreciate the information, very clear and concise. Thank you!!

Very good video Rhys. Both on the info provided, and the production level.

Excellent video! Clear and easy to understand.

This was the clearest, most concise analasys ever! Thank you!

Very, very clearly explained! Thank-you!

Nice and Simple and very helpful! Thanks

Great information, very well explained and not holding back on explaining all that financial advisors won't tell you.

Excellent video so good. Thanks for doing this gives one so many things to consider. Especially the importance of low income and rrsp withdraw. That software you use is fantastic.

Excellent presentation! Informative, understandable, and relevant. Thank you.

Super clear, detailed, sound advice. Wow, what a great discovery this channel was!

@wellbuiltwealth

8 ай бұрын

Awesome! Thanks :)

Excellent information and well explained! Thank you 🙏

So glad I found you/your channel. VERY well explained, and love how you present the PROs & CONs of each scenario as there is no one size fits all. Thank you.

@wellbuiltwealth

10 ай бұрын

Thank you for taking the time to say this :)

Awesome advice!! Thank you!

Wow. That was really good and explained very well. But I'm glad I found the video and thank you for posting it. 🙂

What a great video! Thank you for providing such unbiased information in an easy to understand presentation

Love this channel a lot … to much things to learn… thank you so much ❤❤❤❤

Excellent Explanations, Thank You!!

Hats off to you. Very well explained for any Canadian retiree. Thank you.

What on earth would we do without you Rhys....So so happy we found you.

Outstanding presentation and information. Subscribed...

Great, clear explanations. Thanks! Always happy to find Canadian tax/retirement/finance channels - subscribed from Alberta! :)

@wellbuiltwealth

11 ай бұрын

Awesome! Thank you!

Very well and clearly explained - Thank you -

Excellent articulation about the most confused stuff on the Internet. Thank you 😊

Outstanding presentation. Thank you.

Thanks for providing us with this strategy. I retired at age 50, now I'm 55.... and employed this tactic. I was withdrawing $10,000 every year and using the money to make my TFSA contribution. But now.... I'll start withdrawing the maximum $15,000 from my RRSP account starting this calendar year.

@parkerbohnn

10 ай бұрын

You're supposed to max out your TFSA before you put your first cent into an RRSP. Somewhere along the way you've been bumsteered with the wrong or bad advice. With the advent of the FHSA if yoiu don't own a house and have sold more than 5 years ago you max out the FHSA then max out the TFSA and then max out the RRSP.

@aleem3205

10 ай бұрын

@@parkerbohnn I own my home already. It was purchased 15 years ago, and I have no mortgage . My wife will have a pension when she retires in 2038 and we have no household debt… so I think I’m good . I always contribute to my TFSA every year it’s the first thing I do every January 5 of every calendar year.

@davidhughes6048

10 ай бұрын

@@parkerbohnn Dude, he's 55. TFSA has only been open since 20xx. Obviously he's made RRSP contributions. You had limited information but gave advice anyway, speaking of "bumsteering", whatever that is.

@t.m.l.t.m.l.5399

9 ай бұрын

@@parkerbohnn No, always Rrsp 2nd if you are in a higher tax bracket. With the tax return put it towards the tfsa. Tfsa can be used as emergency money. Rrsp hopefully doubles or triples and then you pull it out at a lower tax bracket by retiring early.

@parkerbohnn

9 ай бұрын

@@aleem3205 It would be $13,000 a year if Trudeau wasn't the Prime Minister.

Discovered your channel yesterday. Hugely helpful videos. Thank you. 🎉❤👋🏼

@wellbuiltwealth

9 ай бұрын

Glad you like them!

Brilliant informative video. Liked and subscribed !

Thanks for sharing this information. Subscribed your channel right away.

Thank you so much for your valuable information. It definitely helps me plan ahead of my retirement income strategies. ❤

Great communicator. Thank you!

This was very very helpful. Thank you

That was a fabulous presentation! I wish you all the best and please keep posting! I’ll be passing your channel on and I hope others are!

@wellbuiltwealth

10 ай бұрын

Thank you so much! :)

Job will done! I have subscribed and will watch with interest. Thx

Thank you for sharing your retirement tax planning video! I found the information presented in a concise and informative manner and the conquest software used to analyze Bob's retirement scenarios was something I have never seen before. Having this at one's fingertips would certainly be a bonus - but I guess that is what comes with your services. Thanks again.

@wellbuiltwealth

9 ай бұрын

You are so welcome!

Awesome. Forward, direct, honest, humble, approachable, smart, and funny! Subscribed!

@wellbuiltwealth

2 ай бұрын

Thanks for that!!

Great video, you’re very well spoken

Well i must say, im within my final work year, and this has been the first clarity I've had. Thanks dude, wish you were my advisor, subscribed

The explanation provided is incredibly detailed, offering a wide range of options to choose from. Thank you

@1983dmd

10 ай бұрын

Totally agree ! He is really good.

Thank you for the excellent explanation of these Rrsp, cpp, oas ❤

Excellent! Awesome, thanks for all the insight. 😀

Cohesive and insightful.

Great video. Easy to follow and understand. Thank you.

@wellbuiltwealth

11 ай бұрын

You are welcome!

Thanks for this. Great information, and your presentation style is very close to perfect.

@wellbuiltwealth

9 ай бұрын

Oh wow. Thank you!

Great video Rhys, very well put together.

@wellbuiltwealth

9 ай бұрын

Thank you!

Thank you for this. So valuable. Can't wait for more videos.

@wellbuiltwealth

9 ай бұрын

Thanks you! More to come :)

Wow man you are an excellent teacher! Thanks for this. It didn't give me all the answers but I know a hell of a lot more than when I started the video. Thanks.

@wellbuiltwealth

8 ай бұрын

That’s an honest compliment! Thank you :)

So glad I've discovered this channel. Your content is excellent. Subbed!

@wellbuiltwealth

7 ай бұрын

Awesome, thank you!

This is the best video on this topic. So well explained.

@wellbuiltwealth

10 ай бұрын

Wow, thank you!

Very well explained. It seems a first task is to fully understand and quantify our monthly costs and expenditures. Something I have really put off for too long. Once I know what we will need then I can decide what we withdraw, from where and when.

Awesome video. Thank you

In the years when I was making a good salary, we did not have TFSAs. We were bombarded with people telling us to invest the maximum in RRSPs. We did not know or appreciate the long term tax implications of RRSPs. I found this advice very helpful as I am now at a point of trying to draw down my RRSP. I have a dependant and want to leave them something without the headache of a huge tax burden. It is so important to maximize your TFSA. I needed money to care for an elderly parent, and was able to draw out an amount each month. Thank you so much for this informative video, as it is useful to all ages.

@dkyrtata6688

2 ай бұрын

Me too. I bloated my RRSP with maximum contributions each year to save taxes and now, early retired, challenged to melt it down as efficiently as possible. But it grows as fast as I withdraw while trying to stay in the lowest provincial tax bracket.

Outstanding video! Subscribed and channel recommended to friends!

@wellbuiltwealth

4 ай бұрын

Awesome, thank you!

Very cool video! Great info.

Excellent video! I’m thinking of retiring way way before 60 and researching info when it comes to using RRSP’s and TFSA’s and company defined contribution to live on till I can avail of CPP and OAS at it’s maximum. Im excited with all the info you gave, new sub!!!

@wellbuiltwealth

7 ай бұрын

Awesome :) Thanks!

Thank you for this video , very clear sound advice that will make my retirement fund that much better.

Wow I am blown away by the quality of this video and this channel. So descriptive and explained so that anybody can understand it. That software is amazing and the way you showed that it actually works is fantastic! Better than any other channels I’ve seen. In 7-8 years when I’m ready to start thinking about retirement hopefully you will still be in business and doing this channel and I will definitely be a client! Thank you for the fantastic Contant!

@wellbuiltwealth

2 күн бұрын

Wow, thank you!

This is really helpful!

Top-notch video and Many Thanks for this great information....!!!

@wellbuiltwealth

11 ай бұрын

Thank you and you’re welcome :)

Your info is gold…thank you!

@wellbuiltwealth

9 ай бұрын

My pleasure!

Excellent communicator...lots to digest.

@wellbuiltwealth

9 ай бұрын

Thank you!

Really well explained presentation. I learned so much from this and will be adjusting me strategy. I’m planning to take early retirement and I think you just made a great case for how to do it. Thank you so much!

@wellbuiltwealth

10 ай бұрын

So good to hear! And thank you :)

Excellent!! Thank you!

This is a really good video. I am glad I found this channel.

@wellbuiltwealth

9 ай бұрын

Glad you enjoy it! And thank you :)

Excellent video

This is really good. Please remind people like and subscribe. You are giving valued information.

Great video. Super well explained. I already use the 1st strategy in no income years.

@wellbuiltwealth

10 ай бұрын

Beautiful! And thank you :)

I love this guy. Haha. He really knows how to talk n explain in such a simple to understand method. Should have his own talk show. Very witty n funny.

@wellbuiltwealth

8 ай бұрын

Thanks! 😃

Finally someone who explores, demonstrates, explains retirement and related tax saving strategies for us Canadians. Thank you! I will be forwarding your You tube channel to my friends and family. Question.. is there a link for the scenario calculator you use ?

@wellbuiltwealth

9 ай бұрын

Thank you! The software is called Conquest and is only available through advisors that have a subscription.

Wow #2 is really sneaky. Nice video.

Hey thanks, just discovered your channel. I'm a Canadian ready to retire in a couple yrs at 67yrs. For the last 25yrs I've been living and working in the USA as a Nurse.. I don't even remember if I paid any tax on my RRSP that I cashed out when I left Canada but I probably did because of the "withholding tax." And also the limit that the Canadian government can come after me for any unpaid tax is 10 years. I'm about to apply for CPP and I think I will get something for the 20 yrs that I did work in Canada. Thanks good info.

Thank you for a very informative video 👍👍👍

Very well explained

That was a very well-executed lesson of a pretty complex topic. That software looks amazing.

@wellbuiltwealth

11 ай бұрын

Thank you kindly!

@jean-marcfiliatrault266

10 ай бұрын

What is the name of that software? It’s not SnapProjection, nor RazorPlan.

I love the way you explain things! Also with some Humor. Way to go with Canadian content. 😊

@wellbuiltwealth

9 ай бұрын

Thanks! 😃

Thanks, good information. 😀

This is a great episode. I've just found you a couple of days ago. This is the second episode I've watched. Everything you talk about here are things that are on my mind. I'm sixty and still working, maybe for one more year. I have some good cash reserves and a pretty decent RRSP portfolio. I'm thinking my strategy will be to hold off on taking pensions till I, to use your term "meltdown" my RRSP. Unfortunately for me I reside in NS and will get stung on the taxes. I guess my plan is to take the RRSP monies out in a 8 year window. Hopefully it's not too long of a time but it will allow me to keep the most of my monies after taxes. Keep up the great work and I really do like your presentation style. Good luck.

@wellbuiltwealth

9 ай бұрын

Thank you! And good luck to you too :)

Liked and subscribed. Thanks.

Wow! Impressive, what the government and your bank don’t want you to know!!!! Thanks ❤

Nice vid. I agree and plan to draw down my RRSP a little before I start taking CPP and OAS. The idea is to balance income, avoid peaks and troughs.

@wellbuiltwealth

8 ай бұрын

Yes :)

Very informative.

You are very good in explaining

@wellbuiltwealth

7 ай бұрын

Thank you!

Great explanation. This is always the Million Dollar question for most people

@wellbuiltwealth

11 ай бұрын

Sure is!! Thankfully, the technology is getting so good that it is becoming easier and easier to answer.

Excellent information… Wow! I learned a lot! Should move a LIRA to my RRSP? I’m in MB. Thank you for all the information!

Nice Video. You got yourself a subscriber.

@wellbuiltwealth

8 ай бұрын

Awesome, thank you!

While I like all your videos, this one has become my favorite. This video has made me reconsider immediately draining my TFSAs and then using my RRSP balances. Because of the graduated tax brackets, I'm going to have to consider w/d from RRSPs at first, lowering the amount of taxes I pay, and use the TAX FREE Savings Accts (TFSA) later in my retirement. Please don't stop sharing your wealth of knowledge. You're making the lives of Canadian's better off, and we appreciate your hard work. Thank you.

@wellbuiltwealth

23 күн бұрын

Thank you!! 😊

Fantastic video - thank you for taking the time to educate, I agree with the other comments this channel this channel should have way more subscribers 🔔

@wellbuiltwealth

2 ай бұрын

Much appreciated!

Wow..im doing exactly what are you saying here...so smart.

Well done!

All i got out of this was - move from Ontario to Alberta when you reach 71. The differencecin tax rates is significant.

@wellbuiltwealth

9 ай бұрын

I’ll see you there.

@mandtgrant

2 ай бұрын

But then you're living in Alberta.....money isn't everything

@misfitbrothers776

2 ай бұрын

@@mandtgrantAlberta is amazing. I moved 20 years ago from the east and I pay 10s of thousands less in taxes than my home province friends. Plus money is everything in Canada. You will have a horrendous quality of life especially in retirement in this country due to the cost of living.

By far the very best explanation without any bias, very often financial advisors and banks will tell you what is best for them.

@user-fl1pc7zu7f

3 ай бұрын

they don't get kick backs for advise they get a wage, outdated thinking does not apply

Love your videos

attention on Loan shuffle strategy : at least in Quebec, you don't get you provincial marginal tax back on the interest you pay. you get it only on the interest up to profit you make out of your portfolio. to break it down let's say you paid 3000$ and your portfolio made 1000$ in capital gain or dividend. assuming you are in the highest bracket: - you get 25% (marginal federal tax) back on 3000$ - you get 30% (marginal QC tax) back only on 1000$ so your effective tax return is (750+300=1050/3000 = 30%) instead of 55% ! Took me a while to find that out !!

As a Financial Planner this is one of the best videos I've seen explaining the RRSP and its draw down. One other limit/factor I don't recall being mentioned in the video is OAS Clawback. Cheers

@wellbuiltwealth

9 ай бұрын

Thank you! But you’re right. On the ground we run into that issue all the time when trying to draw down RRSPs quickly.

Thank you - great video! What is the link to the great graph/calculations in the "How we do it" section, please?

Thank you!