I’ve been a single-stock investor since I was 18 and only recently, at 56, discovered the world of passive income investing (PII). It’s been a major mindset shift for me moving from concentrated positions to building income-focused retirement planning. My big question is around RRSPs and the eventual RRIF conversion at age 71. From what I understand, when I convert my RRSP to a RRIF, I’ll be forced into minimum annual withdrawals, which could increase taxable income and potentially create a bigger tax burden than I’d like. I’m concerned about taking a significant financial “hit” during that transition. For those who’ve been through this or planned ahead well: - Is converting RRSP to RRIF itself a taxable event, or is the tax hit mainly from the mandatory withdrawals? - Are there smart strategies to reduce the tax impact before 71 (gradual drawdowns, partial RRSP withdrawals, RRSP meltdown, etc.)? - If you hold mostly income-producing ETFs or dividend-focused investments inside the RRSP, does that change the best strategy? - Is it smarter to begin strategically drawing down RRSP earlier in retirement to smooth taxes rather than waiting? I’m trying to avoid a scenario where decades of compounding gets unnecessarily eroded by poor decumulation planning. Would really appreciate hearing how others have optimized this transition without getting hammered on taxes.

is it normal that the livestream is at 3AM Eastern.....?

Hi All, just joined been following Gary on YouTube for a while. Looking forward to meeting the group.