Should I Use 401K Before Social Security?
Got questions about Should I Use 401K Before Social Security? Read the key details in simple terms.
Investment income on after-tax assets is taxed each year. By contrast, assets in an RRSP – or registered retirement income fund after retirement - are tax-sheltered until the money is withdrawn. By drawing down after-tax assets first, you can defer income tax on your RRSP/RRIF assets as long as possible.
Marcus Vance is a cybersecurity auditor and technology writer dedicated to educating the public about online safety, data privacy regulations, enterprise security, and emerging cyber threats.
