RE: Ready to Retire? Part 2, The RRIF Trap. 2015 $50 1 Troy oz. Gold Maple Leaf

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Sad that the tax man always wants his share!🙄
Down here ( in my State ) Precious metals are tax free, and treated like fiat/ cash. You can pass 100% on to your family!👍😊
Not all States have these rules…….🙄😇

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As long as I trade silver and gold under Barter, I'm okay.
However, the laws in Socialist Canada can change on a dime.
I may need to make a break to the US if things get too dicey up here. For now I can work the rules to my advantage as best I can. I estimate using only half my RRIF and the unused funds can be deposited into my TFSA depending on the allowance that year.
Thanks for the comment @silvertop
!LUV

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They definitely make the rules to their advantage!🙄
Glad you are on top of this!
Can you imagine how many people that don’t know how to deal with money at all😮

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I came to that conclusion eleven years ago.
The rules around RRSP/RRIF accounts can change to their benefit.
That was the reason I stopped making my RRSP contribution and steered the monthly cash flow into my Stacking DCA Account.
My Stack is worth more than my RRSP/RRIF!

I'm gonna have a lot of hurting relatives and friends.

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(Edited)

The same here, even my two married sons think dads crazy when it comes to stacking precious metals, and crypto!🙄
I just saw that you are the winner of last week’s Ladies of Hive, congratulations!🤗

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