In this episode of the AskTMFG Podcast, Financial Advisors Carlo Cansino and John Iaconetti explore a shift that’s happening quietly among Canadian retirees:

Why many are moving away from relying solely on RRSPs.

While RRSPs have long been a cornerstone of retirement planning, the reality is that they’re built on tax deferral, not tax elimination. And for many retirees, that can lead to higher taxable income later in life, including the risk of triggering OAS clawbacks.

The conversation breaks down why this is becoming a growing concern, and how alternative accounts like TFSAs, group RRSPs (VRSPs), and even FHSAs are being used to create more flexibility and better tax outcomes in retirement.

They also introduce the concept of tax diversification, using multiple account types strategically, to help manage income, reduce lifetime taxes, and adapt to changing financial conditions over time.

Ultimately, the episode highlights that retirement planning isn’t about replacing one account with another, but about building a structure that gives you more control over how and when you draw income.

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