I tend to agree with the ferret. In my case I retired at 59, have not taken my CPP and do not intend to til 65 by which time I will have reduced my RRSP by 30% and paid the taxes but put as much as possible in my TFSA. Taking my CPP at 65 along with OAS and having my bridge drop off my pension payment I should have an income in the 50K bracket and not pay too much tax until 71 when the RRIF starts. Reducing my RRSP without a huge tax penalty is a goal as dying with a big RRSP and no spouse means the estate gets hammered with  a 50% income tax bill in the year of my demise. Anybody know when that will be? Me either.