If I Was 67 With $1M in an RRSP and a Spouse - Here's Our Exact Retirement Plan

In this episode of the AskTMFG Podcast, Carlo Cansino breaks down the married couples' version of the retirement income plan, how a 67-year-old with $1 million in his RRSP and a 64-year-old spouse with $200,000 in hers can structure withdrawals to keep $10,000 to $20,000 more per year than couples who don't plan strategically together. He covers the key moves: converting a portion of an RRSP to a RIF before age 71 to unlock pension income splitting (something RRSP withdrawals alone don't allow), using the income gap between spouses to shift income to the lower-earning partner's tax bracket, recalculating the optimal T1032 split every year as CPP, OAS, and RIF minimums change, and protecting OAS from clawback on both spouses' returns. He also walks through what happens if one spouse passes away first, and why building survivor benefit planning into the plan now (rather than after) matters for the surviving spouse's tax bill down the road. 👉 Watch the full episode here: https://youtu.be/PUY-5QzPj8A  Question for our listeners: If you're part of a couple, have you looked at your combined retirement income picture, or are you and your spouse still planning around two separate numbers? 👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/  Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/