How should Faye, 68, and Ava, 60, draw down their RRSPs given their $108,000 spending target?
With her government benefits and small municipal pension, she’s grossing about $56,000 a year.Ava is receiving long-term disability benefits totalling $53,000 a year that cease when she turns 65. She has a work pension that will pay $26,000 a year at 65.“Together we have funds in RRSPs, tax-free savings accounts and non-registered investments,” Faye writes in an e-mail. Calvert says.“They have a great net worth and have accumulated substantial amounts of investable assets, but they lack a withdrawal plan that focuses on taxes and the longevity of their assets.”Faye thinks her part-time job will come to an end this year, so they will have a meaningful after-tax shortfall.
- ▪With her government benefits and small municipal pension, she’s grossing about $56,000 a year.Ava is receiving long-term disability benefits totalling $53,000 a year that cease when she turns 65.
- ▪She has a work pension that will pay $26,000 a year at 65.“Together we have funds in RRSPs, tax-free savings accounts and non-registered investments,” Faye writes in an e-mail.
- ▪Calvert says.“They have a great net worth and have accumulated substantial amounts of investable assets, but they lack a withdrawal plan that focuses on taxes and the longevity of their assets.”Faye thinks her part-time job will come to an
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| Original publisher | The Globe and Mail |
| Canonical URL | https://www.theglobeandmail.com/investing/personal-finance/financial-facelift/article-financial-facelift-faye-ava-rrsp-tax-efficient-retirement-income/ |
| Publication time | Fri, 24 Jul 2026 21:00:00 +0000 |
| Retrieval time | 2026-07-24T21:16:36.814Z |
| Last seen | 2026-07-24T21:16:36.814Z |
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Open this photo in gallery:Faye and Ava's retirement spending goal is $108,000 a year after tax, rising with inflation.Sammy Kogan/The Globe and MailShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountFaye is 68 years old and her spouse Ava is 60.Faye retired in 2012, and is now bringing in about $36,000 a year from a part-time gig. With her government benefits and small municipal pension, she’s grossing about $56,000 a year.Ava is receiving long-term disability benefits totalling $53,000 a year that cease when she turns 65. She has a work pension that will pay $26,000 a year at 65.“Together we have funds in RRSPs, tax-free savings accounts and non-registered investments,” Faye writes in an e-mail.
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