No BS Advice For Anyone Saving Past $1.5M

In this episode of the Ask TMFG Podcast, Carlo Cansino and John Iaconetti provide straightforward, practical guidance for Canadians who have saved past $1.5 million but still feel uncertain about retirement. They explain why having a large portfolio doesn’t automatically translate into security, and how, in many cases, higher savings actually introduce new and often overlooked risks. Using a Canadian-specific lens, they unpack the biggest traps facing high-net-worth retirees, including Old Age Security (OAS) clawbacks, inefficient asset placement, poorly timed RRSP and RRIF withdrawals, and unnecessary tax leakage. The discussion highlights how these issues can quietly erode income and benefits, even for disciplined savers, if withdrawals and accounts are not coordinated properly. They also address longer-term risks such as inflation and estate planning, explaining how purchasing power can shrink over a 25-year retirement and how deemed disposition at death can result in significant taxes without proper planning. The key takeaway from this episode is that retirement confidence after $1.5 million doesn’t come from saving more, but from understanding how income, taxes, benefits, and legacy planning work together. 👉 Watch the full video episode on YouTube to see how these strategies fit together and why smart planning makes the difference between feeling wealthy and actually staying wealthy in retirement. https://www.youtube.com/watch?v=YWpH_VU-k40 Question for our listeners: Do you have a clear income and tax strategy for retirement, or are you relying on your portfolio balance to do all the work? If you’d like help stress-testing your retirement plan and identifying hidden risks, we’re offering a free 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_