{"id":6951,"date":"2022-10-11T11:43:19","date_gmt":"2022-10-11T16:43:19","guid":{"rendered":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/"},"modified":"2023-11-03T09:51:56","modified_gmt":"2023-11-03T13:51:56","slug":"five-tips-to-reduce-your-taxes-in-retirement","status":"publish","type":"page","link":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement","title":{"rendered":"Five tips to reduce your taxes in retirement"},"content":{"rendered":"\n<div class=\"wp-block-rbcwm-hero-block rbc-hero-wm  rbc-hero-overlap rbc-hero-overlap-mobile\"><div class=\"container\"><div class=\"row no-gutters\"><div class=\"col-lg-12\"><div class=\"rbc-card rbc-hero-card rbc-hero\"><div class=\"rbc-card-wrap\"><div class=\"rbc-card-body\"><div class=\"rbc-hero-body-content\"><h1 class=\"rbc-hero-title\"><span>Five tips to reduce your taxes in retirement<\/span><\/h1>\n<p><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<section class=\"wp-block-rbcwm-rbc-block rbc-block rbc-block-grey has-block-grey-background-color has-background\"><div class=\"container\"><div class=\"row \"><div class=\"col-lg-12\"><div class=\"wrap\">\n<div class=\"row blockId-bc16636c-4d42-47a0-8245-f9b85a3720aa\">\n<div class=\"wp-block-rbcwm-column col-lg-8\">\n<p>With people living longer \u2013 and the cost of living continuing to rise \u2013 it can be a challenge to make your retirement savings last as long as you need. What\u2019s more, the major sources of retirement income are often taxed at the highest marginal rate. Here are five tips to reduce taxes \u2013 and maximize your retirement \u201cpaycheque\u201d:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">1. Consider how different types of investment income are taxed<\/h4>\n\n\n\n<p>Your investment income is taxed in different ways within a regular, non-registered account:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Interest income from bonds or GICs is taxed at higher rates than dividend income or capital gains from stocks. Therefore, by selling investments that generate interest income (as opposed to selling investments that generate dividend income or capital gains), you\u2019re depleting the capital which earns the higher taxed income.<\/li>\n\n\n\n<li>Preferentially taxed income like Canadian-source dividends can be a good source to draw from, as you\u2019re already paying tax on it regardless. And if you are only using the income, you will not be drawing down on your capital, which may preserve future growth.<\/li>\n\n\n\n<li>Capital gains are taxed most favourably. As such, triggering gains in order to fund lifestyle expenses will allow you to have more after-tax income for spending.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading h4\">2. Think about the order you draw from your income sources<\/h2>\n\n\n\n<p>What are (or will be) your retirement income sources? When \u2013 and in what order \u2013 should you start drawing income from them? You often have a choice, or at least a choice within certain parameters. And timing is important when it comes to maximizing your after-tax retirement income.<\/p>\n\n\n\n<p>For example, if you\u2019re in a high tax bracket, it generally makes sense to draw on your least taxed income sources first, where possible. For example, income from your RRIF is fully taxable at your marginal rate, whereas all income withdrawn from your TFSA is completely tax free. As a result, it can make sense to start drawing from your TFSA before withdrawing excess income from your RRIF.<\/p>\n\n\n\n<p>And while you can\u2019t completely control the timing of your RRIF income, you do have some flexibility. For example, you can wait to start receiving RRIF payments until the year in which you turn 71 \u2013 and then only take the minimum required amount. Choosing the minimum payment has the added benefit of leaving more of your assets to continue growing within your RRIF on a tax-deferred basis (you only pay tax when you withdraw from your RRIF).<\/p>\n\n\n\n<div class=\"wp-block-rbcwm-columns container\"><div class=\"row blockId-d2bfbc86-ef45-401b-983f-9cda69276893\">\n<div class=\"wp-block-rbcwm-column col-lg-12 pb-2 pt-2 pl-2 pr-2 has-white-background-color has-background\">\n<h4 class=\"mb-1\">Key retirement income sources<\/h4>\n    <p><i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-square\"><\/i> Government pensions\n        Canada Pension Plan (CPP) \/ Quebec Pension Plan (QPP)<\/p>\n    <p><i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-square\"><\/i> Old Age Security\n        (OAS)<\/p>\n    <p><i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-square\"><\/i> Guaranteed Income\n        Supplement (GIS)<\/p>\n    <p><i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-square\"><\/i> Registered Retirement\n        Savings Plan (RRSP) \/ Registered Retirement Income Fund (RRIF)<\/p>\n    <p><i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-square\"><\/i> Employer-sponsored\n        Registered Pension Plan (RPP)<\/p>\n    <p><i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-square\"><\/i> Locked-in account\n        (LIF\/LRIF\/PRIF)<\/p>\n    <p><i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-square\"><\/i> Non-registered\n        account <\/p>\n    <p><i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-square\"><\/i> Tax-Free Savings\n        Account (TFSA)<\/p>\n    <p><i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-square\"><\/i> Annuity<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<p class=\"mt-2\"><strong>The optimal order to draw on your retirement income sources depends on your individual circumstances. Ask your Investment Advisor for more information.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading h4\">3. Maximize your registered plans<\/h2>\n\n\n\n<p>Registered plans such as your RRSP and RRIF offer some unique tax advantages. As mentioned, you can choose to wait to convert your RRSP into a RRIF until the year you turn 71. By doing so, you can give your RRSP assets more time to continue growing on a tax-deferred basis. Then, once you do convert your RRSP into a RRIF, consider taking only the minimum required RRIF payment. Again, that leaves more of your RRIF assets within the tax-deferred environment to continue accumulating.<\/p>\n\n\n\n<p>And there are other ways to make the most of your registered plans. For example, interest income is fully taxable when earned within your regular, non-registered account. Consider allocating more of your interest-bearing investments such as bonds and GICs to your registered accounts instead. Then, allocate more of your tax-efficient investments such as dividend-paying stocks to your non-registered account. You\u2019re able to claim a tax credit on eligible dividends, and only 50% of any capital gain realized on the sale of a stock is taxable \u2013 when earned in a regular, non-registered account.<\/p>\n\n\n\n<p>And if it makes sense in your situation, consider maximizing your available RRSP contribution room as soon as possible, before you convert your RRSP into a retirement income source, such as a RRIF. In addition to being able to claim a deduction on your tax return, you also give those contributions that much more time to benefit from tax-deferred growth.<\/p>\n\n\n\n<h2 class=\"wp-block-heading h4\">4. Split income with your spouse or common-law partner<\/h2>\n\n\n\n<p>Income splitting works best when you have one spouse in a higher tax bracket than the other. By allocating income to the lower-income spouse, they pay tax on that income at their lower rate. This effectively helps to reduce your combined taxes.<\/p>\n\n\n\n<p>You and your spouse can split eligible pension income (which includes annuity and RRIF income, but not CPP\/QPP) by making a joint election on Form T1032, Joint Election to Split Pension Income, when you file your annual tax returns.<\/p>\n\n\n\n<p>Another way to split income is through a spousal RRSP. If you expect your retirement income to be higher than that of your spouse, consider contributing to a spousal RRSP in advance. The sooner you start, the more income you\u2019ll be able to shift to your lower-income spouse by the time you retire. You receive the RRSP contribution tax deduction as usual to reduce your current taxable income. However, the eventual retirement income is taxed at your spouse\u2019s lower tax rate.<\/p>\n\n\n\n<p>Already retired? If you still have unused RRSP contribution room and your spouse has not yet reached the year in which they turn 72, you can continue to make spousal RRSP contributions even if you, yourself, are over age 71.<\/p>\n\n\n\n<h2 class=\"wp-block-heading h4\">5. Maximize your TFSA<\/h2>\n\n\n\n<p>The TFSA is sometimes overlooked as a retirement planning tool. But it offers some great advantages, whether you\u2019re already retired or still working on it. Unlike an RRSP, you (and every Canadian resident 18+) automatically receive new TFSA contribution room every year \u2013 regardless of whether you have earned income. You can invest in all sorts of investments and earn tax-free investment income. You can also make tax-free withdrawals \u2013 which makes a TFSA a potential source of tax-free retirement income.<\/p>\n\n\n\n<p><strong>Ask your Investment Advisor for more information about maximizing after-tax retirement income.<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div><\/div><\/div><\/div><\/section>\n\n\n\n<section class=\"wp-block-rbcwm-rbc-block rbc-block rbc-block-flush-bottom overlap-bottom\"><div class=\"container\"><div class=\"row justify-content-center\"><div class=\"col-lg-12\">\n<header class=\"wp-block-rbcwm-block-header row rbc-block-header\"><div class=\"col-lg-12\">\n<div class=\"row\">\n\n<h2 class=\"wp-block-heading rbc-block-header-title col-lg-12\" id=\"h-wealth-management-review-april-2022\">Wealth Management Review &#8211; April 2022<\/h2>\n\n<\/div>\n<\/div><\/header>\n\n\n\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col-lg-12\">\n\t\t\t\t<div class=\"row overlap-bottom\">\n\t\t\t\t\t\n<div class=\"rbc-media-card-col rbc-card-col-my col-lg-6 col-md-6\">\n\t<div class=\"rbc-card rbc-media-card rbc-card-hover rbc-media-card-stacked-vertical\">\n\t\t<div draggable=\"false\" class=\"rbc-card-wrap\">\n\t\t\t<div class=\"rbc-card-body rbc-hero-img-background-position\">\n\t\t\t\t\t\t\t\t<div class=\"rbc-media-card-image\" style=\"background-image: url('https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/11\/wealth-management-online-rrif.jpg?w=1024');\"><\/div>\n\t\t\t\t\t\t\t<h3 class=\"rbc-media-card-title rbc-media-card-title-wrap\"><span class=\"rbc-media-card-title-link\"><span>View your RRIF\/LIF information online anytime, anywhere<\/span><\/span><\/h3>\t\t\t\t<span class=\"category rbc-media-card-category\">\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<p class=\"rbc-media-card-text\"><p>Soon you will be able to view key information about your RBC Dominion Securities RRIF \/ LIF from the convenience of your computer, tablet or mobile device.<\/p>\n<\/p>\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/online-rrif-lif\" class=\"rbc-media-card-footer-link align-self-end link-chev rbc-card-link-full\">\n\t\t\t\t\t\t<span class=\"rbc-media-card-cta-link\">\n\t\t\t\t\t\t\tRead more\t\t\t\t\t\t\t<div class=\"rbc-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-angle-right\"><\/i>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<span class=\"sr-only\">&#8211; View your RRIF\/LIF information online anytime, anywhere<\/span>\n\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n<div class=\"rbc-media-card-col rbc-card-col-my col-lg-6 col-md-6\">\n\t<div class=\"rbc-card rbc-media-card rbc-card-hover rbc-media-card-stacked-vertical\">\n\t\t<div draggable=\"false\" class=\"rbc-card-wrap\">\n\t\t\t<div class=\"rbc-card-body rbc-hero-img-background-position\">\n\t\t\t\t\t\t\t\t<div class=\"rbc-media-card-image\" style=\"background-image: url('https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/11\/allworth-history.jpg?w=1024');\"><\/div>\n\t\t\t\t\t\t\t<h3 class=\"rbc-media-card-title rbc-media-card-title-wrap\"><span class=\"rbc-media-card-title-link\"><span>History lessons<\/span><\/span><\/h3>\t\t\t\t<span class=\"category rbc-media-card-category\">\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<p class=\"rbc-media-card-text\"><p>The impact of disruptive geopolitical events on equity markets is usually short \u2013 measured in days \u2013 and the ground lost is regained fairly quickly.<\/p>\n<\/p>\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/history-lessons\" class=\"rbc-media-card-footer-link align-self-end link-chev rbc-card-link-full\">\n\t\t\t\t\t\t<span class=\"rbc-media-card-cta-link\">\n\t\t\t\t\t\t\tRead more\t\t\t\t\t\t\t<div class=\"rbc-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" role=\"img\" class=\"rbc-icon-img fal fa-angle-right\"><\/i>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<span class=\"sr-only\">&#8211; History lessons<\/span>\n\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"<p>With people living longer \u2013 and the cost of living continuing to rise \u2013 it can be a challenge to make your retirement savings last as long as you need.<\/p>\n","protected":false},"author":21,"featured_media":20038,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"editor_notices":[],"rbc_url_alias":"newsletters\/five-tips-to-reduce-your-taxes-in-retirement","footnotes":""},"rbcwm_content_owner":[],"class_list":["post-6951","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Five tips to reduce your taxes in retirement - RBC Wealth Management<\/title>\n<meta name=\"description\" content=\"With people living longer \u2013 and the cost of living continuing to rise \u2013 it can be a challenge to make your retirement savings last as long as you need.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five tips to reduce your taxes in retirement\" \/>\n<meta property=\"og:description\" content=\"With people living longer \u2013 and the cost of living continuing to rise \u2013 it can be a challenge to make your retirement savings last as long as you need.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\" \/>\n<meta property=\"og:site_name\" content=\"RBC Wealth Management\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-03T13:51:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/11\/retirement-tax.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2250\" \/>\n\t<meta property=\"og:image:height\" content=\"1500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Five tips to reduce your taxes in retirement\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/\",\"url\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/\",\"name\":\"Five tips to reduce your taxes in retirement - RBC Wealth Management\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/11\/retirement-tax.jpg\",\"datePublished\":\"2022-10-11T16:43:19+00:00\",\"dateModified\":\"2023-11-03T13:51:56+00:00\",\"description\":\"With people living longer \u2013 and the cost of living continuing to rise \u2013 it can be a challenge to make your retirement savings last as long as you need.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/#primaryimage\",\"url\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/11\/retirement-tax.jpg\",\"contentUrl\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/11\/retirement-tax.jpg\",\"width\":2250,\"height\":1500},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Five tips to reduce your taxes in retirement\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#website\",\"url\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/\",\"name\":\"RBC Wealth Management\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#organization\",\"name\":\"RBC Wealth Management\",\"alternateName\":\"RBC Wealth Management\",\"url\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/02\/rbc.png\",\"contentUrl\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/02\/rbc.png\",\"width\":3000,\"height\":2000,\"caption\":\"RBC Wealth Management\"},\"image\":{\"@id\":\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Five tips to reduce your taxes in retirement - RBC Wealth Management","description":"With people living longer \u2013 and the cost of living continuing to rise \u2013 it can be a challenge to make your retirement savings last as long as you need.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement","og_locale":"en_US","og_type":"article","og_title":"Five tips to reduce your taxes in retirement","og_description":"With people living longer \u2013 and the cost of living continuing to rise \u2013 it can be a challenge to make your retirement savings last as long as you need.","og_url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement","og_site_name":"RBC Wealth Management","article_modified_time":"2023-11-03T13:51:56+00:00","og_image":[{"width":2250,"height":1500,"url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/11\/retirement-tax.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_title":"Five tips to reduce your taxes in retirement","twitter_misc":{"Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/","url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/","name":"Five tips to reduce your taxes in retirement - RBC Wealth Management","isPartOf":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/#primaryimage"},"image":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/11\/retirement-tax.jpg","datePublished":"2022-10-11T16:43:19+00:00","dateModified":"2023-11-03T13:51:56+00:00","description":"With people living longer \u2013 and the cost of living continuing to rise \u2013 it can be a challenge to make your retirement savings last as long as you need.","breadcrumb":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/"]}]},{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/#primaryimage","url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/11\/retirement-tax.jpg","contentUrl":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/11\/retirement-tax.jpg","width":2250,"height":1500},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/newsletters\/five-tips-to-reduce-your-taxes-in-retirement\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/"},{"@type":"ListItem","position":2,"name":"Five tips to reduce your taxes in retirement"}]},{"@type":"WebSite","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#website","url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/","name":"RBC Wealth Management","description":"","publisher":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":"Organization","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#organization","name":"RBC Wealth Management","alternateName":"RBC Wealth Management","url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/","logo":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/logo\/image\/","url":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/02\/rbc.png","contentUrl":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-content\/uploads\/sites\/5\/2023\/02\/rbc.png","width":3000,"height":2000,"caption":"RBC Wealth Management"},"image":{"@id":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"publishpress_future_action":{"enabled":false,"date":"2026-05-01 17:54:19","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"rbcwm_content_owner","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"RBC Wealth Management","distributor_original_site_url":"https:\/\/www.rbcwealthmanagement.com\/en-ca","push-errors":false,"last_revision_date":"2023-11-03 09:51:55","_links":{"self":[{"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/pages\/6951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/comments?post=6951"}],"version-history":[{"count":2,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/pages\/6951\/revisions"}],"predecessor-version":[{"id":20044,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/pages\/6951\/revisions\/20044"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/media\/20038"}],"wp:attachment":[{"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/media?parent=6951"}],"wp:term":[{"taxonomy":"rbcwm_content_owner","embeddable":true,"href":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/wp-json\/wp\/v2\/rbcwm_content_owner?post=6951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}