In Episode 5 of Retirement Unpacked, Adam and Brett tackle a wide range of retirement questions from our community. We cover the RRSP meltdown strategy when your TFSA is maxed, why avoiding “zero-tax years” can lower lifetime taxes, and how a cash-wedge approach helps protect income during market swings. We dig into the pros and cons of reverse mortgages vs. downsizing, the simplest ways to transfer a home in your estate (especially for those without kids), and the smarter order for drawing from RRSPs and non-registered accounts.We also explore how donating securities in-kind can provide a bigger tax benefit than cash, LIRA to LIF unlocks that many Canadians overlook, and how to think about major market swings without derailing your plan. Packed with practical examples and real viewer questions, this episode is a must-listen if you want to make smarter, tax-efficient decisions in retirement.Links:FREE Decumulation 101 Course: https://www.parallelwealth.com/offers/VzwEVF5b/checkoutCash Wedge Video: https://youtu.be/avqo8U7M7fsMoney.ca Article: https://money.ca/managing-money/how-to-earn-money/here-are-the-top-7-habits-of-quietly-wealthy-canadians•••Timestamps00:00 Disclaimer00:16 Welcome & overview00:57 RRSP withdrawals with a maxed TFSA03:05 Smoothing taxes in retirement04:22 Decumulation 10106:39 Protecting retirement income with a cash wedge09:09 Reverse mortgages explained12:34 Weighing the downside of reverse mortgages14:02 Passing the family home efficiently19:44 Balancing large RRSP and non-registered accounts25:40 Adjusting plans during market swings30:14 Charitable giving strategies in retirement38:16 Unlocking a LIRA and moving funds to RRSP42:18 RRIF strategies before 7146:00 Article: Top 7 Habits of Quietly Wealthy Canadians49:59 Tip of the week: cash wedge53:54 Conclusion
Ever wondered what really happens to your CPP if you pass away early, or if pulling money from your TFSA in December actually makes sense? In this episode of Retirement Unpacked, Adam and Brett clear up common misconceptions and walk through practical strategies you can apply right away.We dig into CPP survivor benefits and sharing rules, break down RRSP myths and the timing of RRIF/LIF conversions, and explain when year-end TFSA withdrawals are actually worth it. We’ll also touch on DIY investing risks, planning fees, and why a proper retirement strategy goes far beyond quick software calculations.Have a question you’d like answered on a future episode? Send it our way — chances are, thousands of other Canadians are wondering the same thing.•••Timestamps00:00 Disclaimer00:16 Welcome and overview01:13 RRSP contribution trap03:12 RRIF and LIF conversions and withholding tax09:07 Planning fees and value of a proper retirement plan12:32 CPP calculator vs CRA estimates17:44 TFSA and estate or beneficiary rules20:00 CPP sharing and survivor benefits23:53 OAS survivor strategy26:25 CPP timing: 60 vs 65 vs 7031:13 TFSA year-end withdrawal misconceptions39:01 DIY investing risks – a real life example44:35 TFSA year-end withdrawals tip46:59 Conclusion
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003 | Too Much RRSP? RRIF Withdrawals, CPP Rumours, & Retirement Tax Strategies
In Episode 3 of Retirement Unpacked, we dig into more of your retirement questions. We look at whether it’s possible to have “too much RRSP,” why certain RRIF withdrawal strategies can cause bigger tax problems, and how withholding tax really works. We also talk about the rumours of CPP and OAS moving to age 67, when it makes sense to turn off dividend reinvestments, and why a line of credit can sometimes be smarter than pulling extra from a RRIF. Along the way, we share client stories and planning conversations that highlight how the right strategy can make all the difference.Whether you’re retiring soon or already there, this episode will help you make informed decisions about your money.Steady Hand Interview from 05:43 https://youtu.be/yPPAjsCogAc?si=FNpFbbJfqMPHurwx•••Timestamps00:00 Disclaimer00:16 Welcome & overview00:38 Can you have too much RRSP?02:59 Bad RRIF withdrawal advice from banks04:21 Why zero-tax years can backfire05:47 RRSPs vs. RRIFs and long-term tax costs07:47 Withholding tax explained simply09:07 CRA refunds and real-life examples11:51 Will CPP or OAS move to 67?15:22 What happens when CPP disability ends17:37 Dividends, DRIPs, and cashflow strategies21:22 Can you really afford it in retirement?25:48 Line of credit vs. RRIF withdrawals advice30:03 Conclusion
Adam and Brett dive into some of the most common retirement planning questions from YouTube and client calls. We dig into planning for future care costs, how to think about RRSP deductions you carry forward, mortgage vs TFSA when income is lower, RRSP vs TFSA “levers,” CPP timing when you have a big DB pension, and why “take CPP early and invest it” rarely wins once you model taxes and cash flow. We also touch on gifting or loaning money to adult children, and finish with a practical tip for estimating retirement expenses without a rigid budget.Whether you’re planning ahead or already retired, this episode offers clear, practical insights to help you make informed financial decisions.•••Timestamps00:00 Disclaimer00:16 Welcome & Overview00:51 Planning for Future Care Costs02:28 Issues with Cookie-Cutter Bank Plans03:52 Balancing Income in Go-Go vs No-Go Years04:42 Using Home Equity as a Safety Net07:13 RRSP Contributions Now vs Deducting Later10:10 Paying Down Mortgage vs Funding TFSA12:22 RRSP vs TFSA: Key Rules of Thumb14:40 Income Levels Where RRSPs Start to Make Sense17:05 CPP Timing with a Large DB Pension22:00 Myths About Delaying CPP and Estates24:37 Why “Take CPP Early and Invest It” Often Fails31:32 Gifting vs Loaning Money to Adult Children37:04 Budgeting and Estimating Retirement Expenses Tip41:20 Conclusion
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001 | CPP Myths, TFSA Mistakes, & Key Portfolio Moves Before the Next Crash
In the first episode of Retirement Unpacked, Adam Bornn and Brett Martinson from Parallel Wealth answer real retirement questions from Canadians. We cover how CPP survivor benefits will work in 2025, explain the cash wedge strategy for creating reliable retirement income, and clear up common mistakes people make with TFSA contribution rules. We also discuss how to approach big purchases in retirement, what fee-based advisor models actually mean, and share practical RRIF and RRSP tips you can use right away.This episode is designed to help you avoid costly mistakes, understand your options, and feel more confident about your financial future.•••Timestamps00:00 Disclaimer 00:16 Host Intros 02:19 CPP Survivor Benefits 06:27 Cash Wedge Strategy 08:55 Big Purchases in Retirement 10:37 Stress-Testing Expenses 14:16 TFSA Catch-Up 16:25 CRA TFSA Numbers 20:05 TFSA Carry Forward & Withdrawals 22:55 TFSA Growth & Limits 25:51 Case study: Overbuilt Cash Wedge 30:38 Fee-Based vs Bundled Fees 34:16 What Am I Paying For? 40:07 RRIF to RRSP Tips42:34 Conclusion
Retirement Unpacked is a weekly podcast by Parallel Wealth Financial Group. Our planners break down key retirement topics for Canadians—income strategies, tax planning, CPP, OAS, TFSAs, RRSPs, RRIFs, lifestyle choices, and estate planning. We answer real questions from YouTube, emails, and client conversations, giving you practical insights and strategies to retire with confidence, clarity, and peace of mind.
Join us each week as we unpack retirement together.
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