Retirement Unpacked

In episode 42 of Retirement Unpacked, Brett and Paul break down the importance of using conservative assumptions in your retirement plan, the CPP child-rearing provision, retiring with an age gap, if it makes sense to start CPP early and invest into your RRSP, how non-registered accounts are taxed, and much more.Later in the episode, Mathieu Huneault     joins to discuss two client planning scenarios: one involving a client who received a severance payment and needed to consider if RRSP contributions could lead to overcontribution issues due to how the income is classified, and another where a client regretted starting CPP and learned they were still within the window to cancel it by repaying the benefits received.Chapters0:00 Intro0:47 The importance of assumptions in retirement planning7:39 The CPP child-rearing provision, explained15:01 Should you pay into CPP if you have a corporation?21:35 Planning around unique retirement situations27:12 Start CPP early and invest into your RRSP33:06 Can you use your cash wedge to buy the dip?38:54 Retiring with an age gap44:56 Tax implications of loaning money to your kids50:15 How are non-registered accounts taxed?56:36 Should I work one more year?1:01:03 Contributing severance payment to an RRSP (case study)1:08:24 Canceling your CPP (case study)1:13:25 Cashflow is more important than growth in retirement

In episode 41 of Retirement Unpacked, Jon and Martin break down what happens to your TFSA upon death, whether or not the CRA allows you to take a loan to invest in your TFSA, how income splitting rules differ between defined benefit pensions and RRIFs, the differences between QPP and CPP, if it makes sense to start planning for retirement 20 years out, and much more.Later in the episode, Peter Filippakis     joins to go over a corporate meltdown case study involving a couple in their mid-50s who recently sold their business and are now left with a large corporation to draw down. He goes through how to coordinate dividends, the RRSP meltdown, and government benefits, and how to sequence everything in a tax-efficient way. Chapters0:00 Intro0:13 What happens to your TFSA upon death0:55 Does the CRA allow you to take a loan to fund your TFSA?3:55 Do you need a cashflow wedge if you have a pension?5:08 Income splitting: RRSP vs. Pension6:56 How do spousal RRSPs work10:01 Is the OAS clawback threshold after-tax?12:22 Differences between QPP and CPP16:26 CPP timing when receiving the survivor's pension20:41 Can it ever be too early to start planning for retirement?26:39 Corporate meltdown case study37:35 The importance of term insurance

In episode 40 of Retirement Unpacked, Michael and Mathieu   break down why you should consider converting your RRSP to a RRIF prior to age 71, the differences between a RRIF and LIF, if it makes sense to meltdown a large RRSP, considerations before purchasing a life insurance policy, tax implications of passing on wealth, and much more.Later in the episode, Gord Manzer   joins to discuss a real life case study and explain why retirement decisions can’t be made in isolation. Many Canadians look at CPP, OAS, pensions, RRSPs, and TFSAs as separate pieces, but in reality, every decision affects taxes, income, and your overall retirement plan.Chapters0:00 Intro0:28 Why convert RRSP before 712:52 Differences between a RRIF and LIF4:41 Can you buy and sell stocks in a TFSA the same year?5:48 Can investment firms limit how much tax is withheld?8:49 Consolidating non-reg accounts into a life insurance policy15:00 Does it make sense to meltdown large RRSP?20:14 Single and 65: Is there a benefit to start drawing down RRSP?23:22 If I move money from RRIF to TFSA, is it taxable?24:12 How do RRIF withdrawals affect OAS clawback?26:07 How to use a whole life policy for retirement income28:59 Tax implications of passing on wealth32:11 Why retirement decisions shouldn't happen in isolation36:33 Beneficiary vs. successor holder for TFSAs

In episode 39 of Retirement Unpacked, Matthew and Peter break down how to gift money early from your non-registered account in a tax-efficient way, where you should invest after maxing out your RRSP and TFSA, how your RRSP meltdown strategy should change when markets overperform or underperform your plan, HOOPP pensions, and much more.Later in the episode, Martin Goudreault  joins to walk through a real-life case study involving a family cottage, joint ownership, and the tax and estate planning implications that come with transferring property between generations.Chapters0:00 Intro0:20 How to gift money early tax-efficiently4:56 Trigger capital gains pre-retirement when in a low tax bracket?8:47 Where should you invest after RRSP & TFSA?12:25 Should you adjust RRSP meltdown if the market is down?15:44 Adjusting your drawdown strategy when markets outperform plan21:24 Does an RRSP meltdown make sense if you have large non-registered account?25:15 Do you need a cashflow wedge if you have a pension?30:53 Pension +  RRSP meltdown strategy33:10 Understanding HOOPP pensions42:02 Considerations when commuting your pension45:32 How joint ownership affects cottage taxes (case study)54:08 Should you withdraw monthly in retirement?

In episode 38 of Retirement Unpacked, Brett and Gord break down options if you are paying high fees and not getting any advice, the attribution rules around joint non-registered accounts, what age you can split your RRIF income with your spouse, whether it makes sense to ladder your income if you're concerned about long-term care, if it makes sense to start CPP early so you can collect the PRB and invest your payments, and much more.Later in the episode, Mathieu Huneault   joins to discuss a recent client situation where a couple sold their home and moved into their cabin full-time, and the planning considerations that came with it. We break down how the principal residence exemption combined with RRSP contributions were used together to help create a more tax-efficient plan.Chapters0:00 Intro0:46 Paying high fees and getting no advice7:10 Joint non-registered attribution rules12:48 DIY planning software18:17 CPP disability calculation21:33 What age can you split RRIF income24:44 How to dispose of an RESP32:37 How to calculate probate35:38 How to plan for long-term care40:05 Can you move money from LIF to spousal RRSP tax-free?43:11 Taking CPP early, collecting the PRB and investing it52:17 Principal Residence Exemption planning1:01:25 Budgeting for trips

In episode 37 of Retirement Unpacked, Adam and Brett break down if it makes sense to withdraw more from your RRIF than you actually need, why your cashflow wedge should not be outside of your registered accounts, how to plan around an inheritance, RRSP and RRIF strategies if you are single, and much more.Later in the episode, Maria Dawes from Capstone Asset Management joins to discuss values-based investing, what it is, how to align your investing with your values and worldview, and the key questions to ask your advisor if this is something that is important to you.Chapters0:00 Intro0:16 Withdraw more from your RRIF than you need?3:39 Does income splitting have to be 50/50?7:10 Use spousal RRSP vs. collecting GIS11:05 Why can't your cashflow wedge be outside your registered accounts?15:45 Borrow from home equity to max out TFSA?19:28 How to plan for inheritances25:10 What is the benefit to lowering the OAS clawback threshold?30:34 Should you delay OAS to avoid the clawback?38:40 RRSP/RRIF strategies for singles42:45 DB survivor benefit & spousal drawdown timing48:39 What is values investing with Maria Dawes56:13 What are you really paying in fees?

In episode 36 of Retirement Unpacked, Kyle and Peter break down why having zero tax years in retirement can be detrimental to your plan, how retirees can protect themselves against inflation, how to plan around large capital gains in retirement, the best timeframe to judge your investment returns, and much more.Later in the episode, Matthew Dennis joins to discuss the smith manoeuvre, the dangers of it, and when it makes sense for Canadians.Chapters0:00 Intro0:18 Why are zero tax years bad?3:39 How to protect against inflation in retirement12:37 Spousal attribution rules around non-registered accounts19:57 Should I cash out my entire RRSP?22:45 How to offset a large capital gain in your 70s28:35 The best timeframe to judge your investment returns33:14 Managing inflation in retirement37:54 Offsetting rental property sale with RRSP42:21 When should you consider life insurance?50:52 When does the smith manoeuvre make sense?57:37 How to free up funds in a LIRA

In episode 35 of Retirement Unpacked, Brett and Jon break down RRIF successor annuitant vs. beneficiary designations, if it makes sense to do an RRSP meltdown if you have a large RRIF,TFSA, and non-registered account, whether or not you can contribute to CPP after you retire, how to determine the jurisdiction of your pension and much more. Later in the episode, Gord Manzer joins to discuss the importance of organizing your financial world before you pass away, so your loved ones aren't left searching for documents, passwords, accounts, and other important financial details during an already difficult time. Chapters0:00 Intro0:12 RRIF successor annuitant vs. beneficiary​4:41 Why meltdown a large RRSP?​11:10 Income splitting tax implications​16:13 RRSP matching while withdrawing from RRIF​20:18 Can you pay into CPP after retiring?​23:04 How does principal residence exemption work?​28:42 What is crystallization?​34:12 How to determine jurisdiction of a pension​39:33 Organizing your financial world before death​46:24 Importance of saving outside of your RRSP 

In episode 34 of Retirement Unpacked, Michael and Paul discuss when it doesn’t make sense to delay your CPP and OAS, strategies to reduce taxes both during your lifetime and at death, estate planning considerations for blended families, and much more.Later in the episode, Martin Goudreault joins to discuss why the shift from saving to spending can be challenging, and shares practical steps to help make that transition easier.Subscribe to our clips YouTube channel: https://www.youtube.com/channel/UCwY3ZvNc_qCU-WuIKh-aulA Chapters0:00 Intro0:33 When should you start CPP & OAS early?3:40 How to pay less tax while alive6:26 When is the my CRA TFSA number accurate?8:57 How to avoid large tax on estate12:50 Should you use whole life insurance to cover estate taxes?16:05 Does an RRSP meltdown make sense at the highest tax bracket?18:44 Why do I still owe taxes?21:43 How to minimize estate taxes with RRIF drawdown24:09 Should you draw more out of RRIF to income split?26:30 Estate planning with a blended family31:07 How to transition from a saver to a spender40:43 Helping the next generation save in an FHSA