Smart Moves to Maximize Your RRSP Before 65

A large RRSP balance can lead to high taxable withdrawals after age 71, potentially increasing income tax and reducing government benefits like OAS. Converting to a RRIF triggers mandatory minimum withdrawals that may push income above OAS recovery thresholds. Strategically withdrawing from RRSPs during low-income years and transferring funds to a TFSA can enable tax-free growth and reduce future tax burdens. Planning withdrawals before 65 helps manage tax brackets and government benefit impacts.