In this episode of Retirement Unpacked, Adam and financial planner Jon Kutney answer real retirement questions from Canadians navigating the transition from saving to spending. They cover practical retirement income decisions, common tax pitfalls, and how different accounts work together in retirement.

Topics include:

• Shifting from a saving mindset to a spending mindset in retirement

• RRSP to RRIF withdrawals and income-splitting after age 65

• How a cash wedge strategy differs from portfolio rebalancing

• Leaving money in a corporation vs contributing to an RRSP

• OAS clawback and when it matters

• Living off dividends vs structured drawdown strategies

• How retirement income choices affect estate planning and taxes

DISCLAIMER: This content is for informational and educational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments involve risk, and past performance is not indicative of future results. Any forward-looking statements are based on assumptions and may differ from actual outcomes.

Please consult a qualified professional for personalized retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for decisions made based on this content.

Chapters00:00 Intro and Overview
00:22 Multiple TFSAs With Different Institutions
01:05 How CRA Tracks TFSA Contributions and Withdrawals
03:07 Investing Retained Earnings Inside a Corporation
06:21 Why a Savings Mindset Can Hurt Retirement
10:36 RRSP to RRIF Timing for Income Splitting
13:01 Leave Money in a Corporation or Contribute to an RRSP?
17:37 Cash Wedge vs Portfolio Rebalancing
23:13 Should You Convert All of Your RRSP to a RRIF?
26:10 Using a TFSA to Offset RRIF Taxes
29:56 RRSP Withdrawals and OAS Clawback
35:18 Living Off Dividends vs RRSP Meltdown
38:58 How to Build a Tax Efficient Estate
41:29 Power of Attorney and Trusted Contacts in Retirement
46:56 Gifting Money to Family Using a TFSA
52:55 Wrap Up