There are many people retiring abroad these days, so it's important to understand how your RRSP will treated as a nonresident, particularly pertaining to how it's treated upon death. As a resident, there is no tax withheld upon death, but that isn't the case if you retire abroad and become a nonresident.

If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to find a certified financial planner in your area or book a consultation with us to get your retirement plan on track.  You can learn more about our services at https://www.parallelwealth.com/planning

Financial Resources I personally recommend:
Neo Mastercard – no annual fee and average 5% back! https://join.neo.cc/parallelwealth
Investing Academy https://bit.ly/ParallelAcademy
Free Credit Report with Borrowell: https://bit.ly/borrowellPWFG
Retirement Income for Life: Getting More without Saving More (Second Edition): https://amzn.to/3v5j2to
Get 1.65% on your savings at EQ Bank https://join.eqbank.ca?code=ADAM1377

OUTLINE
0:00 Steps To Understanding Finances
0:32 Resident Treatment
2:40 NonResident Treatment (Single)
4:55 Plan Ahead
5:48 NonResident Treatment (Couple)
7:07 SIN Number Required

This presentation is intended for information purposes only and does not constitute an offer to buy or sell our products or services nor is it intended as investment and/or financial advice on any subject matter. Every effort has been made to ensure the accuracy of its contents. Certain of the statements made may contain forwardlooking statements, which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forwardlooking statements. Returns are not guaranteed and past performance may not be repeated.

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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.