In this episode of the Retirement IQ Podcast, retirement wealth coach John Springer tackles a concern he hears all the time from friends and family: “I wish I’d never bought RRSPs.” That frustration usually comes from the shock of paying tax when RRSP money is withdrawn. In this episode, John sets the record straight and explains why RRSPs are not the problem — poor planning is.

John walks through how RRSPs are designed to work, from tax-deductible contributions during high-earning years to tax-deferred growth over time. He explains what happens when RRSPs must be converted to a RRIF by age 71, why mandatory withdrawals can create higher taxable income, and how this can often be avoided with the right strategy.

The conversation covers smart planning techniques such as drawing down RRSPs earlier in retirement, using spousal RRSPs to split income, and coordinating RRSP withdrawals with the timing of CPP and OAS. With practical examples and clear guidance, this episode shows how thoughtful RRSP planning can significantly reduce lifetime taxes — and why, when used correctly, RRSPs remain one of the most powerful tools in a well-built retirement income plan.