General retirement question
I'm thinking given we have to make maximum contributions to CPP every year, my CPP income would probably be high when it kicks in. Combined with OAS, that would most certainly make GIS impossible even if I am able to make sure I have no other income (eg. if I were to withdraw all RRSP before 65 or just not contribute to RRSP throughout my life). That means there's probably no way I can take advantage of GIS at all.
In that case, I'm thinking every year, I should just max out TFSA first, then RRSP and then whatever extra money to investment/pay off mortgage. It would probably not make sense for me to use my extra money each year to pay off my mortgage sooner given the low interest rate and high potential savings on tax if I use RRSP to defer taxation.
Is my thinking on the right track or did I miss anything?