This episode of Retirement Unpacked tackles the kinds of retirement questions Canadians actually ask once the details start to matter. Adam and Brett dig into TFSA rules, RRSP withdrawal timing, cash wedge strategies, and CPP decisions, focusing on the tradeoffs and tax considerations that can quietly shape retirement outcomes.
Key topics covered:• Moving non registered investments into a TFSA and tax implications• When to start RRSP or RRIF withdrawals• How cash wedge strategies work over time• Using all in one ETFs with a cash wedge• Structuring savings for early retirement flexibility• Supporting generational wealth without risking retirement
If you have a retirement question you would like answered in a future episode, submit it in the comments or reach out. We review them every week.
DISCLAIMER: This content is for informational and educational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments involve risk, and past performance is not indicative of future results. Any forward-looking statements are based on assumptions and may differ from actual outcomes.
Please consult a qualified professional for personalized retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for decisions made based on this content.
Chapters00:00 Intro and Overview00:23 Moving Non Registered Dividend Stocks Into a TFSA02:47 Investing Within a TFSA04:48 When to Begin RRSP or RRIF Withdrawals08:45 Do All In One ETFs Work With a Cash Wedge Strategy11:09 Managing a Cash Wedge Throughout Retirement18:29 Refilling a Cash Wedge After a Down Market20:30 Practical Steps to Take When Approaching Retirement25:19 Does Permanent Life Insurance as Retirement Income Make Sense31:13 Do Low Income Years Affect CPP Timing35:29 How to Estimate Your OAS Payment37:50 MERs vs Returns and Understanding Advisor Fees44:44 Can CPP Payments Be Shared Between Spouses48:03 Real World Planning Case on Retirement Flexibility52:59 How to Achieve Generational Wealth57:39 Wrap Up
In this episode of Retirement Unpacked, Adam and financial planner Jon Kutney answer real retirement questions from Canadians navigating the transition from saving to spending. They cover practical retirement income decisions, common tax pitfalls, and how different accounts work together in retirement.
Topics include:
Shifting from a saving mindset to a spending mindset in retirement
RRSP to RRIF withdrawals and income-splitting after age 65
How a cash wedge strategy differs from portfolio rebalancing
Leaving money in a corporation vs contributing to an RRSP
OAS clawback and when it matters
Living off dividends vs structured drawdown strategies
How retirement income choices affect estate planning and taxes
DISCLAIMER: This content is for informational and educational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments involve risk, and past performance is not indicative of future results. Any forward-looking statements are based on assumptions and may differ from actual outcomes.
Please consult a qualified professional for personalized retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for decisions made based on this content.
Chapters00:00 Intro and Overview
00:22 Multiple TFSAs With Different Institutions
01:05 How CRA Tracks TFSA Contributions and Withdrawals
03:07 Investing Retained Earnings Inside a Corporation
06:21 Why a Savings Mindset Can Hurt Retirement
10:36 RRSP to RRIF Timing for Income Splitting
13:01 Leave Money in a Corporation or Contribute to an RRSP?
17:37 Cash Wedge vs Portfolio Rebalancing
23:13 Should You Convert All of Your RRSP to a RRIF?
26:10 Using a TFSA to Offset RRIF Taxes
29:56 RRSP Withdrawals and OAS Clawback
35:18 Living Off Dividends vs RRSP Meltdown
38:58 How to Build a Tax Efficient Estate
41:29 Power of Attorney and Trusted Contacts in Retirement
46:56 Gifting Money to Family Using a TFSA
52:55 Wrap Up
In this episode of Retirement Unpacked, Brett and fellow PWFG planner, Michael Barichello, answer more of your retirement questions. They cover what to do after maxing your RRSP and TFSA, how DC pensions work when you leave an employer, and the implications of naming TFSA beneficiaries or adding joint owners to accounts. They also touch on income splitting, GICs in a TFSA, overcontribution penalties, and what to know about locked-in funds. If you’ve wondered whether your accounts are set up the right way, this episode brings clarity and practical guidance. Leave your questions in the comments and we may feature them next time.
DISCLAIMER: This content is for informational and educational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments involve risk, and past performance is not indicative of future results. Any forward-looking statements are based on assumptions and may differ from actual outcomes.
Please consult a qualified professional for personalized retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for decisions made based on this content.
Chapters
00:00 Intro & Overview
00:53 Maxed RRSP & TFSA: What’s Next?
05:16 Defined Contribution Pension Options
08:12 Leaving Your TFSA to Children
11:32 End-of-Year TFSA Contributions
14:35 Assisting Elderly Parents with Finances
20:00 Transferring Company Pension to an RRSP or RRIF
22:12 Legacy Planning on a Defined Benefit Pension
25:28 RRSP Meltdown When Working to Age 70
29:33 GICs Inside a TFSA
33:50 Withdrawing from a LIF After Converting
35:32 RRSP vs TFSA Heading into Retirement
40:20 CPP and OAS Calculator in Today's Dollars
43:55 RRIF Withdrawals Article
48:11 TFSA Pitfall Tip
50:25 Wrap-Up
In this episode of Retirement Unpacked, Adam and Brett answer viewer questions on RRIF withdrawals, TFSA rules, advisor restrictions, non-registered accounts, pension income splitting, LIRA unlocking, and more. They break down several common retirement planning scenarios Canadians face and explain how to navigate them with clarity and confidence.
Later in the episode, Parallel Wealth partner Kyle Martins joins to share insight on easing into retirement, including how part-time or semi-retirement work can fit into a financial plan.
Have a question for a future episode? Leave it in the comments.
DISCLAIMER: This content is for informational and educational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments involve risk, and past performance is not indicative of future results. Any forward-looking statements are based on assumptions and may differ from actual outcomes.
Please consult a qualified professional for personalized retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for decisions made based on this content.
Chapters
00:00 Intro & Overview
00:23 Advisor Restrictions on Financial Advice
03:54 RRIF vs LIF at Death
06:10 RRIF Withdrawals: Monthly vs Lump Sum
08:12 Managing Non-Registered Accounts in Retirement
15:16 Risks of Managing Money for Family and Friends
17:45 DB Pensions, Income Splitting, CPP/OAS Timing
21:22 TFSA GIC to High-Interest Account Transfer
24:03 Federal LIRA Rules, Unlocking, LRIF vs RLIF
29:06 Transferring LIRAs/LIFs to a Brokerage
31:57 TFSA Gains and CRA Penalties
37:16 Transitioning into Retirement
40:21 TFSA Cash Mistakes
44:12 Wrap-up
In this episode of Retirement Unpacked, Adam Bornn and Brett Martinson tackle a variety of retirement-related questions, focusing on strategies for managing income, taxes, and investments in retirement. They discuss the implications of OAS clawback, the importance of RRSP contributions, and the nuances of withdrawing from RRSPs and TFSAs. The conversation also covers RRSP drawdown strategies, CPP dropout rules, and what strong financial planning deliverables should actually include.
Parallel Wealth planner, Matthew Dennis, joins the episode to discuss a common real-life challenge when couples have different spending goals and visions for retirement and how to navigate those conversations so both spouses feel heard and aligned.
Access Free Decumulation 101 Videos
DISCLAIMER: This content is for informational and educational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments involve risk, and past performance is not indicative of future results. Any forward-looking statements are based on assumptions and may differ from actual outcomes.
Please consult a qualified professional for personalized retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for decisions made based on this content.
Chapters
00:00 Intro and Overview
00:22 Is OAS Clawback a Good Problem
04:29 When RRSP Contributions Don’t Make Sense
07:25 Melting Down a Large RRSP
11:03 Are All in One ETFs Safe
14:34 Talking to Parents About Beneficiaries
19:57 TFSA Withdrawals and Attribution
22:35 CPP Dropout Rate Explained
24:53 Reducing RRIF Tax at Death
27:49 What Good Financial Plan Deliverables Include
34:49 High Income and Large RRIFs
38:39 Banks Ignoring Successor Forms
41:16 Spousal RRSP Contributions
44:16 Understanding Client Goals in Financial Planning
48:59 Year End Account Opening and Deadlines
51:40: Wrap-up
In this bonus episode, Adam sits down with David Chilton, author of The Wealthy Barber and one of Canada’s most trusted voices in personal finance. Dave shares why he spent 16 months completely rewriting his bestselling book and what Canadians need to know about today’s financial realities.
They discuss rising living costs, housing challenges, RRSP and TFSA decisions, CPP timing, retirement withdrawals, estate planning, and the behavioural traps that can derail even the best intentions. If you grew up with The Wealthy Barber or simply want practical advice that actually sticks, this is a conversation you’ll enjoy.
DISCLAIMER: This content is for informational and educational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments involve risk, and past performance is not indicative of future results. Any forward-looking statements are based on assumptions and may differ from actual outcomes.
Please consult a qualified professional for personalized retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for decisions made based on this content.
In this week’s episode of Retirement Unpacked, Adam and Brett answer real retirement questions and unpack topics like evaluating financial products, understanding CPP timing, navigating RRIF taxes, and making informed pension and estate decisions. They break everything down in a clear and practical way that helps you apply the ideas to your own situation.
They also walk through viewer scenarios involving TFSA withdrawals, cash wedges, planning timelines, and how different income sources work together once you stop working.
DISCLAIMER: This content is for informational and educational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments involve risk, and past performance is not indicative of future results. Any forward-looking statements are based on assumptions and may differ from actual outcomes.
Please consult a qualified professional for personalized retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for decisions made based on this content.
In this episode of Retirement Unpacked, Adam and Brett answer real viewer questions on retirement planning. They cover when to defer OAS to reduce taxes, whether a cash wedge actually helps your portfolio, and how to move funds from an RRSP or RRIF into a TFSA.
They also discuss CPP while working, health and dental coverage in retirement, DIY investing with a professional plan, using permanent life insurance to cover taxes, and what to do with a $1M inheritance.
Have a retirement question? Leave it in the comments – we might cover it in a future episode!
Adam and Brett dive into some of the most misunderstood parts of Canadian retirement planning–RRSP taxes, TFSA rollover mistakes after death, and how to avoid losing your Old Age Security to clawbacks. They also unpack how inflation affects your go-go, slow-go, and no-go years, the right way to track withholding taxes, and why AI tools like ChatGPT still can’t replace a proper financial plan. Whether you’re retired or getting close, this episode is packed with insights to help you keep more of your money, avoid costly tax surprises, and approach retirement with confidence.
Got a question for a future episode? Leave it in the comments!
Advisor.ca Article: https://www.advisor.ca/partner-content/industry-insights/beneva-industry-insights/how-can-advisors-prepare-young-canadians-to-inherit-wealth/
We’re unpacking nore of the most common retirement questions Canadians face, including when pension income can be split, how RRSP withdrawals should be timed, and whether investing after 60 still makes sense. We look at where TFSAs fit into the mix, how a cash wedge can support peace of mind, and why timing your retirement date can have a bigger impact than you might expect.
We also dive into what truly makes a retirement plan effective – from tax efficiency and income flow to the lifestyle shift that happens when work ends. If you’re planning for retirement or already there, this episode will help you make smarter, more confident decisions with the wealth you’ve built.
Eligible Pension Income CRA: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/pension-income-splitting/eligible-pension-income.html
Advisor.ca Article: https://www.advisor.ca/practice/longevity/how-retirement-coaching-is-redefining-the-future-of-advice/
Adam and Brett from Parallel Wealth tackle more real-life questions from Canadian retirees and soon-to-be retirees. They unpack how to time OAS and CPP for maximum benefit, when a cash wedge still makes sense even with a pension, and how to handle RRIF withdrawals and withholding tax more efficiently.
You’ll also hear insights on income splitting, TFSA successor rules, OAS clawbacks, and why proper coordination between accounts can make a major difference in your after-tax retirement income. Whether you’re planning ahead or already retired, this episode breaks down the strategies that create clarity, confidence, and peace of mind in retirement.
This week we’re answering more of your biggest retirement questions. We cover CPP timing, how withdrawals affect your TFSA contribution room, and when it makes sense to convert an RRSP to a RRIF. We also clear up OAS eligibility at 65, income splitting rules after 65, and the truth about spousal RRSP attribution.
We dive into strategies for reducing taxes in retirement—like when an RRSP meltdown makes sense, how to balance withdrawals across different accounts, and when investment fees stop adding value. Real scenarios, practical strategies, and straightforward answers to help you plan smarter.
Got a question for the next episode? Drop it in the comments and we’ll add it to the queue.
Article: https://www.advisor.ca/industry-news/industry/cffim-asks-feds-to-raise-rrif-conversion-age-rrsp-contribution-limit/
•••00:00 Disclaimer00:16 Welcome & Overview01:27 TFSA Withdrawals – Does Room Come Back?03:44 CRA TFSA Contribution Room & Penalties07:30 TFSA Tracking Tips07:39 CPP Estate Payout & Death Benefit12:15 RRSP vs RIF Withdrawals14:52 OAS Eligibility16:57 Income Splitting Rules19:09 Bonds, Asset Location & Cash Wedge Strategy25:19 RRSP Meltdown vs Non-Reg Withdrawals30:08 Insurance for Tax & Estate Planning33:55 CPP Estimates & Retiring Early38:07 RIF Withdrawals & Managing Taxes43:36 Deferring a DB Pension – When It Makes Sense47:42 Assessing Fees & Value51:42 RIF Age & RRSP Limit Changes (Article)54:53 Tip of the Week – Spousal RRSP Attribution56:55 Conclusion
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/checkout
Cash Wedge Video: https://youtu.be/avqo8U7M7fs
Money.ca Article: https://money.ca/managing-money/how-to-earn-money/here-are-the-top-7-habits-of-quietly-wealthy-canadians
•••
Timestamps00:00 Disclaimer
00:16 Welcome & overview
00:57 RRSP withdrawals with a maxed TFSA
03:05 Smoothing taxes in retirement
04:22 Decumulation 101
06:39 Protecting retirement income with a cash wedge
09:09 Reverse mortgages explained
12:34 Weighing the downside of reverse mortgages
14:02 Passing the family home efficiently
19:44 Balancing large RRSP and non-registered accounts
25:40 Adjusting plans during market swings
30:14 Charitable giving strategies in retirement
38:16 Unlocking a LIRA and moving funds to RRSP
42:18 RRIF strategies before 71
46:00 Article: Top 7 Habits of Quietly Wealthy Canadians
49:59 Tip of the week: cash wedge
53:54 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.
•••
Timestamps
00:00 Disclaimer
00:16 Welcome and overview
01:13 RRSP contribution trap
03:12 RRIF and LIF conversions and withholding tax
09:07 Planning fees and value of a proper retirement plan
12:32 CPP calculator vs CRA estimates
17:44 TFSA and estate or beneficiary rules
20:00 CPP sharing and survivor benefits
23:53 OAS survivor strategy
26:25 CPP timing: 60 vs 65 vs 70
31:13 TFSA year-end withdrawal misconceptions
39:01 DIY investing risks – a real life example
44:35 TFSA year-end withdrawals tip
46:59 Conclusion
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
•••
Timestamps
00:00 Disclaimer
00:16 Welcome & overview
00:38 Can you have too much RRSP?
02:59 Bad RRIF withdrawal advice from banks
04:21 Why zero-tax years can backfire
05:47 RRSPs vs. RRIFs and long-term tax costs
07:47 Withholding tax explained simply
09:07 CRA refunds and real-life examples
11:51 Will CPP or OAS move to 67?
15:22 What happens when CPP disability ends
17:37 Dividends, DRIPs, and cashflow strategies
21:22 Can you really afford it in retirement?
25:48 Line of credit vs. RRIF withdrawals advice
30:03 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.
•••
Timestamps
00:00 Disclaimer
00:16 Welcome & Overview
00:51 Planning for Future Care Costs
02:28 Issues with Cookie-Cutter Bank Plans
03:52 Balancing Income in Go-Go vs No-Go Years
04:42 Using Home Equity as a Safety Net
07:13 RRSP Contributions Now vs Deducting Later
10:10 Paying Down Mortgage vs Funding TFSA
12:22 RRSP vs TFSA: Key Rules of Thumb
14:40 Income Levels Where RRSPs Start to Make Sense
17:05 CPP Timing with a Large DB Pension
22:00 Myths About Delaying CPP and Estates
24:37 Why “Take CPP Early and Invest It” Often Fails
31:32 Gifting vs Loaning Money to Adult Children
37:04 Budgeting and Estimating Retirement Expenses Tip
41:20 Conclusion
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.
•••
Timestamps
00:00 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 Tips
42:34 Conclusion
In this short trailer, Adam and Brett introduce Retirement Unpacked, a new podcast from Parallel Wealth. Together they share what’s ahead–tackling retirement questions Canadians face every day.