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On episode 61 of Retirement Unpacked, Gord Manzer and Steven Arnott     discuss the key factors when deciding between taking the defined benefit pension or its commuted value, how OAS and OAS clawback fit into your overall taxable income, whether it makes sense to unlock your locked-in account before retirement, should you delay OAS to do a larger RRSP meltdown, and much more. Later in the episode, Mathieu Huneault     joins the show to discuss tax-loss harvesting, when it may make sense, and some important cautions to keep in mind.   Chapters 0:00 Intro0:40 Monthly payments vs. commuted value: What's the best option? 7:54 How does OAS clawback affect your taxable income? 12:32 Should you unlock your locked-in RRSP before retiring? 18:35 Delaying CPP: What happens if one spouse dies early? 24:29 Which jurisdictions allow you to base LIF maximum on last year's returns? 29:00 How CPP survivor benefit fits into your own CPP calculation 32:46 When does it make sense to contribute to an RRSP in retirement? 36:44 RRSP vs. TFSA contributions when you're close to retirement 40:54 Should you delay OAS to do a larger RRSP meltdown? 43:21 Tax-loss harvesting at year end 48:05 Should you contribute to RRSP if you have a pension?

On episode 60 of Retirement Unpacked, Brett Martinson and Michael Barichello   discuss how to think about investment returns and safe withdrawal rates in retirement, why your income wedge should be built into each individual account, if it makes sense to delay CPP if you already have many low income years, and much more. Later in the episode, Martin Goudreault   joins the show to discuss a case study involving a couple how will be retiring with strong government pensions, but have been living paycheque to paycheque. Martin goes through how he helped them manage their cashflow, adjust their spending, and prepare them for the transition from employment income to pension income.   Chapters 0:00 Intro0:34 Investment returns vs. withdrawal rates in retirement 6:08 Spousal loans explained 8:29 Why should your income wedge be built in individual accounts? 13:03 Should you delay OAS/CPP if you're receiving CPP survivor's pension? 17:28 Should you delay CPP if you already have many low income years? 21:00 Why not start CPP/OAS early when you're healthy? 26:38 Should you avoid contributing to an RRSP in bad markets? 32:50 Case study: Managing cashflow before retirement 43:07 Should you move money from a LIF to your RRSP?

On episode 59 of Retirement Unpacked, Gord Manzer and Paul Grenier   discuss the future of Old Age Security and if you should start planning for potential changes, how you should build in a potential inheritance into your retirement plan, whether you should withdraw from your RRIF or LIF first, tax planning for large RRIF balances in your 80s, and much more.Later in the episode, Jon Kutney joins the show to discuss Prescribed Retirement Income Funds (PRIFs), what they are, how they work, and how they fit into your retirement plan.   Chapters 0:00 Intro0:42 The future of Old Age Security4:25 Do RRIFs and LIFs have successor holders?7:50 How should you plan for an inheritance?12:14 Should I defer my RRSP deduction until retirement?19:22 Should you withdraw from your RRIF or LIF first?24:28 Should you level out your average tax rate through retirement?28:58 Should you defer OAS if you're in clawback territory?34:08 Tax planning for large RRIF balances in your 80s38:46 Do we have any women on our team who are CFPs? 40:30 Should I get a plan before changing brokerages? 45:30 What are PRIFs? 52:26 Retirement planning when you're 15+ years away

On episode 58 of Retirement Unpacked, Adam Bornn and Kyle Martins discuss whether withdrawal strategy or asset allocation is more important in retirement, when living trusts can make sense, how singles vs. couples are taxed in retirement and why singles are at a disadvantage, when it makes sense to contribute to an RRSP in retirement, and much more.Later in the episode, Aaron Cramer joins the show to discuss a case study of how the timing and duration of your RRSP meltdown can impact your estate and overall flexibility of your retirement plan.   Chapters 0:00 Intro0:23 Is withdrawal strategy or asset allocation more important?4:21 When do living trusts make sense?8:38 Income planning with GICs in retirement11:57 Taxation of singles vs. couples in retirement17:38 How does the CPP survivor's pension work?20:59 When should you claim your DB pension?24:33 Principal residence exemption when selling below fair market value27:32 When should you contribute to your RRSP in retirement?31:53 RRSP meltdown timing case study

On episode 57 of Retirement Unpacked, Adam Bornn and Matthew Dennis discuss why we often suggest delaying CPP but not OAS, when you should actually use your income wedge, gifting strategies and which accounts you should consider gifting from, and much more.Later in the episode, Kyle Martins joins the show to discuss some of the planning considerations Canadian retirees need to know as we approach the end of 2026. Chapters0:00 Intro0:18 Why delay CPP but not OAS?3:08 When should you use your income wedge?8:34 Should you ever live off your TFSA in retirement?15:11 Gifting money from your TFSA vs. non-registered18:11 CPP timing when you expect to receive an inheritance22:13 Can you protect an inheritance from a divorce?24:35 LIRAs vs. annuities: What is better?28:49 Does Parallel Wealth support blended families?30:33 Considerations when gifting money37:55 Planning considerations for year end41:10 When does CPP sharing make sense?

On episode 56 of Retirement Unpacked, Adam Bornn and Gord Manzer discuss if there is a minimum RRSP amount needed to delay your CPP to 70, when CPP sharing can make sense, whether you need an income wedge for your entire retirement, how to manage large capital gains in retirement, moving money from your RRIF to your TFSA, and much more.Later in the episode, Peter Filippakis joins the show to discuss some of the nuances around the principal residence exemption, and some scenarios where you are not eligible to claim it.   Chapters0:00 Intro0:18 Delaying CPP: Is there a minimum RRSP amount needed?3:48 Can you have OAS withheld at source to avoid instalments?7:09 Does CPP sharing make sense?11:09 CPP survivor benefit: What happens if you delay CPP to 70?13:14 Income splitting to avoid OAS clawback17:50 Do you need an income wedge for your entire retirement?20:59 How to manage large capital gains in retirement25:39 How selling propery affects OAS clawback30:32 Does it ever make sense to defer a HOOPP pension?33:26 Moving money from your RRIF to your TFSA36:33 The Nuances of the principal residence exemption41:35 When should you actually use your income wedge?

On episode 55 of Retirement Unpacked, Paul Grenier and Michael Barichello   discuss how RRSP tax deductions work, why it could make sense to set up a HELOC before retiring, why people keep working when they can financially retire, if it makes sense to withdraw more from your RRIF to fund your TFSA, and much more.Later in the episode, Martin Goudreault   joins the show to discuss a unique tax planning opportunity where a client both contributed to his RRSP and withdrew from his RRIF in this same year leading to about $50,000 in tax savings in their plan.Cost of aging calculator: https://coacalculator.ca/   Chapters 0:00 Intro0:26 How does the RRSP tax deduction work?3:21 Should you set up a HELOC for retirement?7:18 Why do people keep working when they can retire?9:44 Healthcare planning in retirement14:59 Should you withdraw more from RRIF to fund TFSA?19:03 Can leftover RESP funds be used for your grandkids?23:14 Should you delay OAS if you have clawback?26:22 Should I convert my LIRA now that I'm 55?30:58 A unique RRSP/RRIF planning strategy35:39 Should you utilize unused RRSP room in retirement?40:51 If you're already 70+, do retirement plans have value?

On episode 54 of Retirement Unpacked, Brett Martinson and Jon Kutney discuss how to utilize additional TFSA contribution room in retirement, how to incorporate dividends into your cashflow (income) wedge, DIY retirement planning software, marginal vs. average tax rates in retirement, in-kind charitable donations, and much more. Later in the episode, Mathieu Huneault joins the show to discuss tax planning strategies for those with non-registered accounts with large unrealized capital gains. Brett and Mathieu go over how using available RRSP contribution room can help manage the tax impact of those gains. Wealth transfer article: https://www.wealthprofessional.ca/news/industry-news/wealth-transfer-timing-why-waiting-is-the-costliest-mistake-families-make/393369 Our free decumulation 101 course: https://www.parallelwealth.com/offers/VzwEVF5b/checkout Work with our team: https://www.parallelwealth.com/planning   Chapters 0:00 Intro0:32 Contributing to your TFSA in retirement4:28 Are dividends a part of your income wedge?10:12 DIY retirement planning software17:10 Marginal vs. average tax rate in retirement22:51 How to calculate value of property27:32 What does self insuring in retirement look like?35:14 Living trusts for an adult disabled child41:09 In-kind charitable donations47:37 CPP splitting after a divorce51:58 Deferring your DB pension57:52 How do alternative investments fit into income wedge?

On episode 53 of Retirement Unpacked, Adam Bornn and Martin Goudreault discuss when you should convert your RRSP to a RRIF if you're retiring in 2027, whether or not you need a cashflow wedge in your TFSA, converting to a RRIF vs. just withdrawing from your RRSP, tax implications when gifting money to your kids, planning considerations when you love your job, and much more. Later in the episode, Peter Filippakis joins the show to discuss the importance of stress testing your retirement plan, while also avoiding analysis paralysis and letting fear ruin your plan.   Our free decumulation 101 course: https://www.parallelwealth.com/offers/VzwEVF5b/checkout Work with our team: https://www.parallelwealth.com/planning   Chapters 0:00 Intro0:24 Retiring in 2027: When should I convert my RRSP?3:58 Do I need a cash wedge in my TFSA?6:08 Common law planning considerations8:46 Delaying OAS when you don't have 40 years in Canada11:04 Why move money from a RRIF back to an RRSP14:07 Converting to a RRIF vs. just withdrawing from RRSP17:05 Gifting money from your non-registered to your kids22:11 Moving money from your RRIF to your non-registered24:34 Don't overcomplicate your retirement30:28 When do annuities make sense?37:59 Planning considerations when you love your job43:03 Stress testing your retirement plan47:59 How to find a trusted financial planner

On episode 52 of Retirement Unpacked, Gord Manzer and Michael Barichello discuss why converting your RRSP to a RRIF before 71 can make sense, where to allocate a large cash sum before retiring, LIF maximum withdrawal rules, CPP child rearing years, when annuities make sense, and much more.Later in the episode, Martin Goudreault joins the show to discuss a case study where a couple had more than enough income to retire comfortably, and how the next conversation was how to make the plan the most tax efficient as possible. Our free decumulation 101 course: https://www.parallelwealth.com/offers/VzwEVF5b/checkout Work with our team: https://www.parallelwealth.com/planning Chapters: 0:00 Intro0:48 Converting your RRSP before 71: What's the point?5:34 Where to allocate a large cash sum before retiring9:35 LIF maximum withdrawal rules12:12 How does working past 65 affect CPP?13:47 Do you have to calculate CPP child rearing years yourself?16:14 CPP split upon divorce: How to factor in child rearing years17:53 Does it ever make sense to contribute to RRSP in retirement?21:27 Contributing to RRSP in a higher income year24:29 Can you take CPP and OAS while working25:45 When do annuities make sense31:03 High income planning in retirement: Creating tax efficiency37:59 Insurance vs. self insuring in retirement

On episode 51 of Retirement Unpacked, Brett Martinson and Matthew Dennis discuss whether it ever makes sense to put a house into a trust, clear up some confusion about what a cashflow wedge actually is, look at whether CPP really keeps up with "real-world" inflation, planning considerations for a disabled adult child, and much more.Later in the episode, Mathieu Huneault joins the show to discuss a client case study where a retired couple was hesitant to spend their savings even though they had plenty of room in their plan. He discusses how they were able to pay off their mortgage earlier which gave them the peace of mind to start spending and enjoying their retirement. Our free decumulation 101 course: https://www.parallelwealth.com/offers/VzwEVF5b/checkout Work with our team: https://www.parallelwealth.com/planningChapters:0:00 Intro0:45 Should you put a house into a trust?12:34 Do cashflow wedges actually make sense?26:34 Differences between RRSPs and RPPs30:04 Does CPP actually keep up with inflation?37:29 Planning considerations for a disabled adult child48:54 Should you reinvest bond interest?56:52 OAS clawback: When do you get your money back?1:01:59 Should you consider using a reverse mortgage?1:07:15 Should you keep a small mortgage in retirement?1:12:47 Case study: Can you afford to spend more?1:23:53 In-kind donations: What charities are eligible?

On episode 50 of Retirement Unpacked, Adam Bornn and Brett Martinson discuss DIY retirement planning software options for Canadians, whether extended health and dental coverage is worth it for retirees, how retiring with two pensions can change withdrawal strategy, and much more.Later in the episode, Gord Manzer joins the show to discuss some of the unique considerations when retiring partway through the year, including income planning, tax planning, capital gains and losses, and preparing for the year ahead. How much cash should you keep in your portfolio?: https://www.moneysense.ca/columns/ask-a-planner/how-much-cash-should-you-keep-in-your-portfolio/ Our free decumulation 101 course: https://www.parallelwealth.com/offers/VzwEVF5b/checkout Work with our team: https://www.parallelwealth.com/planningChapters:0:00 Intro0:24 DIY retirement planning software4:54 Reducing OAS clawback with form T1213OAS10:46 Health and dental coverage in retirement: Is it worth it?17:36 Does reinvesting dividends count as a trade?20:26 Do you need to convert your entire RRSP to a RRIF?26:59 How does two pensions change your retirement plan33:03 Naming younger spouse for your RRIF minimum37:29 Should you put your tax refund into your TFSA42:08 What should you do with your investments before passing away?47:12 How to calculate your CPP dropout years52:08 Considerations when retiring mid year56:18 How much cash should you keep in your portfolio?

On episode 49 of Retirement Unpacked, Paul Grenier and Jon Kutney discuss the Home Buyers' Plan vs. the FHSA and how these tools can be used if you're close to or in retirement, the cashflow wedge (of course), how spousal RRSPs work in retirement, and much more. Later in the episode, Peter Filippakis   joins the show to do a deeper dive into what the cashflow wedge actually is, how much you need to have, and how it actually works in your retirement.   Chapters 0:00 Intro0:41 Can a money market fund be used as your cashflow wedge?4:18 Home Buyers' Plan vs. FHSA6:51 FHSA rollover into RRSP8:48 Should you apply for OAS if you're going to get clawed back?12:06 Options when repaying Home Buyers' Plan15:34 For a 70/30 portfolio, is the 30% your cashflow wedge?18:18 Should your cashflow wedge be in real or nominal dollars?22:46 Cashflow wedge explained: What it is, how much you need, and how it works31:27 Will the government increase the TFSA limit in the future?34:20 What is it like being a financial planner?41:13 How spousal RRSPs work in retirement45:33 Should we prioritize our RRSP or TFSA?

On episode 48 of Retirement Unpacked, Adam Bornn and Mathieu Huneault discuss how retiring early affects CPP and non-contributory years, what to consider if you have multiple RRSP accounts, why most retirees should consolidate their accounts, when it makes sense to convert your RRSP to a RRIF, and what to do if you took CPP early and realize you made a mistake.Later in the episode, Michael Barichello joins the show to discuss a real case study where the client was set on starting CPP early. He discusses how the goal isn’t to find the “right” CPP decision, but to understand the trade-offs, see how starting at different ages impacts the overall plan, and make an informed decision. Chapters0:00 Intro0:34 Why delay CPP if you already have a pension?3:37 Delaying CPP: Do ages 65 to 70 count as non-contributory years?4:52 How does retiring early affect CPP?7:05 What happens if you have multiple RRSPs?10:42 Should you convert to a RRIF prior to 65?15:36 Retiring with 2 pensions: should I convert my RRSP now?18:36 RRIF withdrawals: Should you put money back into an RRSP?24:54 RRIF vs. non-registered accounts: Understanding the tax differences30:50 Do you need a cashflow wedge if you have a pension?37:22 I made mistake of starting CPP at 60, should I delay OAS?39:57 A real CPP timing case study43:46 Tax implications of converting a property to your principal residence

In episode 47 of Retirement Unpacked, Brett Martinson and Matthew Dennis discuss whether you should make your spouse a joint owner of your non-registered account, the key considerations before downsizing your home and renting, LIRA unlocking rules and how they vary by province, tax loopholes versus legitimate tax planning, and much more.   Later in the episode, Gord Manzer joins the show to discuss what to expect from a retirement plan when you're still 10+ years away from retiring, why plans change over time, and how to use that information to make better financial decisions today. Chapters: 0:00 Intro1:22 Non-registered accounts: should you make them joint?10:28 Selling house: should I downsize or rent?18:19 Can you transfer investments in-kind from RRIF to TFSA?23:44 Should I name my estate the beneficiary on my RRSP?32:25 LIRA unlocking rules: every province is different40:36 RRSP meltdown strategies for high-income earners46:32 Tax loopholes: what's legal vs. what's risky1:01:03 Can the FHSA be used as a tool for retirement1:05:36 Planning for retirement 10+ years away1:19:07 CPP survivor benefits explained: does delaying CPP hurt you?