Retirement Unpacked

In this week’s episode of Retirement Unpacked, Adam and Brett answer real retirement questions and unpack topics like evaluating financial products, understanding CPP timing, navigating RRIF taxes, and making informed pension and estate decisions. They break everything down in a clear and practical way that helps you apply the ideas to your own situation.

They also walk through viewer scenarios involving TFSA withdrawals, cash wedges, planning timelines, and how different income sources work together once you stop working.

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.

In this episode of Retirement Unpacked, Adam and Brett answer real viewer questions on retirement planning. They cover when to defer OAS to reduce taxes, whether a cash wedge actually helps your portfolio, and how to move funds from an RRSP or RRIF into a TFSA.

They also discuss CPP while working, health and dental coverage in retirement, DIY investing with a professional plan, using permanent life insurance to cover taxes, and what to do with a $1M inheritance.

Have a retirement question? Leave it in the comments – we might cover it in a future episode!

Adam and Brett dive into some of the most misunderstood parts of Canadian retirement planning–RRSP taxes, TFSA rollover mistakes after death, and how to avoid losing your Old Age Security to clawbacks. They also unpack how inflation affects your go-go, slow-go, and no-go years, the right way to track withholding taxes, and why AI tools like ChatGPT still can’t replace a proper financial plan. Whether you’re retired or getting close, this episode is packed with insights to help you keep more of your money, avoid costly tax surprises, and approach retirement with confidence.

Got a question for a future episode? Leave it in the comments!

Advisor.ca Article: https://www.advisor.ca/partner-content/industry-insights/beneva-industry-insights/how-can-advisors-prepare-young-canadians-to-inherit-wealth/

We’re unpacking nore of the most common retirement questions Canadians face, including when pension income can be split, how RRSP withdrawals should be timed, and whether investing after 60 still makes sense. We look at where TFSAs fit into the mix, how a cash wedge can support peace of mind, and why timing your retirement date can have a bigger impact than you might expect.

We also dive into what truly makes a retirement plan effective – from tax efficiency and income flow to the lifestyle shift that happens when work ends. If you’re planning for retirement or already there, this episode will help you make smarter, more confident decisions with the wealth you’ve built.

Eligible Pension Income CRA: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/pension-income-splitting/eligible-pension-income.html

Advisor.ca Article: https://www.advisor.ca/practice/longevity/how-retirement-coaching-is-redefining-the-future-of-advice/

Adam and Brett from Parallel Wealth tackle more real-life questions from Canadian retirees and soon-to-be retirees. They unpack how to time OAS and CPP for maximum benefit, when a cash wedge still makes sense even with a pension, and how to handle RRIF withdrawals and withholding tax more efficiently.

You’ll also hear insights on income splitting, TFSA successor rules, OAS clawbacks, and why proper coordination between accounts can make a major difference in your after-tax retirement income. Whether you’re planning ahead or already retired, this episode breaks down the strategies that create clarity, confidence, and peace of mind in retirement.

This week we’re answering more of your biggest retirement questions. We cover CPP timing, how withdrawals affect your TFSA contribution room, and when it makes sense to convert an RRSP to a RRIF. We also clear up OAS eligibility at 65, income splitting rules after 65, and the truth about spousal RRSP attribution.

We dive into strategies for reducing taxes in retirement—like when an RRSP meltdown makes sense, how to balance withdrawals across different accounts, and when investment fees stop adding value. Real scenarios, practical strategies, and straightforward answers to help you plan smarter.

Got a question for the next episode? Drop it in the comments and we’ll add it to the queue.

Article: https://www.advisor.ca/industry-news/industry/cffim-asks-feds-to-raise-rrif-conversion-age-rrsp-contribution-limit/

In Episode 5 of Retirement Unpacked, Adam and Brett tackle a wide range of retirement questions from our community. We cover the RRSP meltdown strategy when your TFSA is maxed, why avoiding “zero-tax years” can lower lifetime taxes, and how a cash-wedge approach helps protect income during market swings. We dig into the pros and cons of reverse mortgages vs. downsizing, the simplest ways to transfer a home in your estate (especially for those without kids), and the smarter order for drawing from RRSPs and non-registered accounts.

We also explore how donating securities in-kind can provide a bigger tax benefit than cash, LIRA to LIF unlocks that many Canadians overlook, and how to think about major market swings without derailing your plan. Packed with practical examples and real viewer questions, this episode is a must-listen if you want to make smarter, tax-efficient decisions in retirement.

Links:

FREE Decumulation 101 Course: https://www.parallelwealth.com/offers/VzwEVF5b/checkout

Cash Wedge Video: https://youtu.be/avqo8U7M7fs

Money.ca Article: https://money.ca/managing-money/how-to-earn-money/here-are-the-top-7-habits-of-quietly-wealthy-canadians

Ever wondered what really happens to your CPP if you pass away early, or if pulling money from your TFSA in December actually makes sense? In this episode of Retirement Unpacked, Adam and Brett clear up common misconceptions and walk through practical strategies you can apply right away.

We dig into CPP survivor benefits and sharing rules, break down RRSP myths and the timing of RRIF/LIF conversions, and explain when year-end TFSA withdrawals are actually worth it. We’ll also touch on DIY investing risks, planning fees, and why a proper retirement strategy goes far beyond quick software calculations.

Have a question you’d like answered on a future episode? Send it our way — chances are, thousands of other Canadians are wondering the same thing.

In Episode 3 of Retirement Unpacked, we dig into more of your retirement questions. We look at whether it’s possible to have “too much RRSP,” why certain RRIF withdrawal strategies can cause bigger tax problems, and how withholding tax really works. We also talk about the rumours of CPP and OAS moving to age 67, when it makes sense to turn off dividend reinvestments, and why a line of credit can sometimes be smarter than pulling extra from a RRIF. Along the way, we share client stories and planning conversations that highlight how the right strategy can make all the difference.

Whether you’re retiring soon or already there, this episode will help you make informed decisions about your money.

Steady Hand Interview from 05:43 https://youtu.be/yPPAjsCogAc?si=FNpFbbJfqMPHurwx

00:00 Disclaimer

00:16 Welcome & overview

00:38 Can you have too much RRSP?

02:59 Bad RRIF withdrawal advice from banks

04:21 Why zero-tax years can backfire

05:47 RRSPs vs. RRIFs and long-term tax costs

07:47 Withholding tax explained simply

09:07 CRA refunds and real-life examples

11:51 Will CPP or OAS move to 67?

15:22 What happens when CPP disability ends

17:37 Dividends, DRIPs, and cashflow strategies

21:22 Can you really afford it in retirement?

25:48 Line of credit vs. RRIF withdrawals advice

30:03 Conclusion

Adam and Brett dive into some of the most common retirement planning questions from YouTube and client calls. We dig into planning for future care costs, how to think about RRSP deductions you carry forward, mortgage vs TFSA when income is lower, RRSP vs TFSA “levers,” CPP timing when you have a big DB pension, and why “take CPP early and invest it” rarely wins once you model taxes and cash flow. We also touch on gifting or loaning money to adult children, and finish with a practical tip for estimating retirement expenses without a rigid budget.

Whether you’re planning ahead or already retired, this episode offers clear, practical insights to help you make informed financial decisions.

00:00 Disclaimer

00:16 Welcome & Overview

00:51 Planning for Future Care Costs

02:28 Issues with Cookie-Cutter Bank Plans

03:52 Balancing Income in Go-Go vs No-Go Years

04:42 Using Home Equity as a Safety Net

07:13 RRSP Contributions Now vs Deducting Later

10:10 Paying Down Mortgage vs Funding TFSA

12:22 RRSP vs TFSA: Key Rules of Thumb

14:40 Income Levels Where RRSPs Start to Make Sense

17:05 CPP Timing with a Large DB Pension

22:00 Myths About Delaying CPP and Estates

24:37 Why “Take CPP Early and Invest It” Often Fails

31:32 Gifting vs Loaning Money to Adult Children

37:04 Budgeting and Estimating Retirement Expenses Tip

41:20 Conclusion