Retirement Unpacked

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/393369Our free decumulation 101 course: https://www.parallelwealth.com/offers/VzwEVF5b/checkoutWork with our team: https://www.parallelwealth.com/planning Chapters0:00 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/checkoutWork with our team: https://www.parallelwealth.com/planning Chapters0:00 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/checkoutWork with our team: https://www.parallelwealth.com/planningChapters: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/checkoutWork 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/checkoutWork 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?