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Password Protect Retirement Agreement

Password Protect Retirement Agreement

Aug 6th, 2022

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How to Password Protect Retirement Agreement

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70 votes

In this tutorial, Angelo Mancio discusses the LIRA (Locked-In Retirement Account) and how it differs from a standard RRSP (Registered Retirement Savings Plan). A LIRA is a specialized type of RRSP primarily funded by assets from an employer's pension plan when an employee leaves their job. Both accounts serve as tax-deferral tools for retirement savings, allowing individuals to avoid immediate taxation on their contributions. Instead, taxes are applied upon withdrawal, ideally when the individual is in a lower tax bracket. Understanding the nuances of LIRAs is important for effectively incorporating them into one's overall retirement plan.

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