# RRSP to TFSA Question



## maak (Feb 24, 2010)

Not sure if this has been asked before... I took early retirement with a reasonable pension & a reasonable RRSP account. We have been living comfortably on the pension without touching the RRSP account, but I've been wondering if it would be worth taking out a small amout out of the RRSP & using it to top up the TFSA.. Is it worth it, or just leave it until it's RRIF time... (many years yet) Thanks for any suggestions...


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## the-royal-mail (Dec 11, 2009)

Well, you can certainly move the money around but as soon as it leaves the tax haven of the RRSP you'll have to pay taxes and fees on it. Seems to me that might eliminate any benefits in doing so. I think this is a decision you need to make yourself, perhaps using a simple excel calculator, to determine your own cashflow.


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## Toronto.gal (Jan 8, 2010)

There is another thread with that topic here:

http://www.canadianmoneyforum.com/showthread.php?t=6006

If you have 20+ years, probably not a good idea to pay taxes now. Also, remember that tax payments on withdrawals will leave you with only the after-tax residue to invest.

Welcome to CMF!


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