I wonder if you understand that there's something called a RRIF that you can convert to at the age of 55 and you don't need to worry about incurring additional withholding tax from your withdraw from your RRSP.

If you withdraw 50K annually you'll be taxed the 30% withholding tax AND income tax after the withdrawl.

So lets break it down:

70% withholding tax of 50,000 = $35,000

Net income on $35,000 = $25,998

So for 20 years you'd be surviving on 26K a year with all of your 50K withdraws incurring a 50% tax hit.

If you just convert to RRIF at 55, your minimum withdrawls will be currently capped at according to this chart : https://mdm.ca/investing/investment-accounts/rrif/rrif-annual-withdrawals

It's low at first but you get the advantage of not paying the withholding tax and only the regular income tax, so if you have enough in the TFSA or non-reg to assist you to 65 you'll be massively ahead of someone since you're only going to be suffering from the income tax and not the combination of both.

Total income recieved =