034 | When NOT To Delay CPP & OAS

In episode 34 of Retirement Unpacked, Michael and Paul discuss when it doesn’t make sense to delay your CPP and OAS, strategies to reduce taxes both during your lifetime and at death, estate planning considerations for blended families, and much more.Later in the episode, Martin Goudreault joins to discuss why the shift from saving to spending can be challenging, and shares practical steps to help make that transition easier.Subscribe to our clips YouTube channel: https://www.youtube.com/channel/UCwY3ZvNc_qCU-WuIKh-aulA Chapters0:00 Intro0:33 When should you start CPP & OAS early?3:40 How to pay less tax while alive6:26 When is the my CRA TFSA number accurate?8:57 How to avoid large tax on estate12:50 Should you use whole life insurance to cover estate taxes?16:05 Does an RRSP meltdown make sense at the highest tax bracket?18:44 Why do I still owe taxes?21:43 How to minimize estate taxes with RRIF drawdown24:09 Should you draw more out of RRIF to income split?26:30 Estate planning with a blended family31:07 How to transition from a saver to a spender40:43 Helping the next generation save in an FHSA