I’m 60 with $1.5M… Am I Ready to Retire in Canada?

In this episode of the AskTMFG Podcast, Financial Advisors Carlo Cansino and John Iaconetti walk through a common retirement question many Canadians are asking: “If I’m 60 with $1.5 million saved… am I actually ready to retire?” They explain why reaching a savings milestone doesn’t automatically translate into retirement readiness, and how the real challenge is turning that number into sustainable, after-tax income. The conversation breaks down how different income sources, such as CPP, OAS, and investment withdrawals, work together, the impact of taxes across RRSPs, TFSAs, and non-registered accounts, and how withdrawal timing can affect long-term outcomes. They also explore key risks that can affect a retirement plan, including early withdrawal pressure before age 65, market volatility (sequence-of-returns risk), inflation, and the possibility of OAS clawbacks. Ultimately, the episode highlights that retirement success is rarely about the number itself; it’s about how income, taxes, and risk are structured over time. 👉 Watch the full video episode on YouTube to see how to evaluate if your savings can support your retirement: https://www.youtube.com/watch?v=PnrxZMbbHg0  Question for our listeners: If you had to turn your savings into monthly income today, would you know where to start? 👉 If you’d like help reviewing your retirement strategy, we’re offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/