Why $1.5M In Retirement Savings May Not Be Enough

In this episode of the AskTMFG Podcast, financial advisors Carlo Cansino and John Iaconetti tackle one of the most common retirement misconceptions Canadians hold: that reaching $1.5 million means you're financially set for retirement. The conversation explores why $1.5 million may not be the safe number many people assume, how inflation silently cuts purchasing power in half over a 30-year retirement, and why the popular 4% withdrawal rule may no longer hold up in today's environment of longer lifespans and greater market volatility. We also discuss the real cost of healthcare in Canada that most retirees underestimate, how sequence-of-returns risk can permanently derail a retirement portfolio if markets drop early, the tax drag that quietly erodes savings, especially from RRSP-heavy portfolios, and the four psychological traps that lead Canadians to overestimate their retirement readiness. 👉 Watch the full episode here: https://www.youtube.com/watch?v=aRgZBH6sjbE Question for our listeners: If you retired tomorrow with $1.5 million, do you know exactly how long it would last and what risks could cut it short? 👉 If you'd like help building a retirement plan tailored to your goals, 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_/