Why Retirement Changes Once You Save $1M in Canada

In this episode of the AskTMFG Podcast, Carlo Cansino and John Iaconetti unpack why hitting the $1 million mark in retirement savings isn't just a financial milestone; it's a psychological turning point, and what actually changes once you get there. They cover what a million-dollar portfolio can sustainably generate (roughly $7,000 a month after tax before government benefits are added), why the "touch RRSPs last" mindset often costs Canadians in lifetime tax, how income splitting becomes especially powerful for couples with larger portfolios, and how factors like retirement age, longevity planning to 95, and home equity all shape how far that million actually goes. They also lay out a simple annual optimization routine: reviewing withdrawal rates, investment returns, and tax bracket every year, and why becoming too conservative after reaching $1 million can work against you. 👉 Watch the full episode here: https://www.youtube.com/watch?v=GEydDQQbyA8  Question for our listeners: If you're getting close to (or past) the $1 million mark, have you built an actual withdrawal and tax strategy around it, or are you still just watching the number grow? 👉 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_/