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Brokerage account 50$ rrsp withdrawal fees

4595 Views 17 Replies 11 Participants Last post by  rdern360

I am hoping to start making monthly rrsp withdrawals next year. I am still too young to make a RIFF. But I am feeling that my rrsp is too big and I will to start withdrawing so that I don't end up with a large forced withdrawals at high tax rates at the end.

My rrsp is heavy on REITS. So I was thinking to take the dividends monthly from now on. But the brokerage account I use bmo investor line is charging 50$ per withdrawal.

Any recommendations for a brokerage account that has no withdrawal fees ? Anyone else taking money out monthly ?
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If you're looking to avoid taxes, just withdraw the minimum. Do not pull everything out all at once. I've had a colleague encounter a similar dilemma a while back, and I suggest you read up more on RRSP and RIFF starting with this article. You can also read up on government articles regarding this subject to make sure that you don't have hiccups in the process. Heed what the others have posted here, and select what's applicable for you, I've been reading the replies on this thread and they are on point.
1 - 1 of 18 Posts
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