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16-07-2022, 04:15 PM
The amount you should have at retirement age is $400K.
That doesn't mean you top up to $400K and stop because when the SRS $$ is invested it has return so you can overshoot the $400K amount.
Why $400K? You have 10 yrs to take out so to stay below the taxable amount you are limited to $40K per year.
To make things harder while you are cashing out your investments inside will have returns so you may still exceed the tax free limit.
So how to.maximise tye SRS without getting tax at the withdrawal stage.
Endowus offers tips on this.
https://endowus.com/insights/solving-the...y-analysis
That doesn't mean you top up to $400K and stop because when the SRS $$ is invested it has return so you can overshoot the $400K amount.
Why $400K? You have 10 yrs to take out so to stay below the taxable amount you are limited to $40K per year.
To make things harder while you are cashing out your investments inside will have returns so you may still exceed the tax free limit.
So how to.maximise tye SRS without getting tax at the withdrawal stage.
Endowus offers tips on this.
https://endowus.com/insights/solving-the...y-analysis
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
