We cover retirement strategies for people retiring within five years who want to experience peace of mind, confidence, and no regrets about their retirement transition.
Our content provides financial education to help you plan a successful retirement. There are many details that go into a successful retirement transition, and our content will help you focus on the key areas leading to success!
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If your income goes over a certain threshold, you could lose some or even all of your OAS benefits. It’s frustrating because it feels like you’re being penalized for doing well.
Wow!! Useful information. One question though, the video was all about trying to keep taxable income ideally below $90k and at the end you talked about different tax rates for capital gains and dividends. How does this map to taxable income? Would the taxable income = emp income + rrif withdrawals + OAS payments + CPP payments + .5 cap gains + .3 dividends?
This a fantastic learning video , thanks for your video! I’m looking for my wife and I to retire at 55 both. I have a DB pension, and she has a DC pension with some personal RSPs and TFA. I’ve made a “retirement income budget” and I’m looking to chat with a “retirement planner” to see if it’s possible ( 6 years out yet for me and 8 for my wife).
Nicely broken down. How many people come to you about using a business to pull a minimum salary then take company loans to supplement their income to pay lower taxes?
Interesting. I reconsider my approach all the time and currently I am contributing to only my TFSA as I have a large-ish amount in RRSPs (low to mid 6 figures), a LIRA, and am employed with a DB PP. Though my TFSA contributions don't have tax benefits now, continuing to increase my taxable accounts doesn't make the most sense for me. My income is definitely higher than it will be in retirement.
Well laid out comparison.Thanks. I retired at 55 and just started cpp at 60 despite the scenario because I have seen a better than 8% roi the last five years and just decided to take cpp to allow more gogo years freedom.
Excellent real life case study example for the vast majority of Canadians 👍. Even better if you used the average retirement age of 62. The key is CPP and OAS at 70 ✅ You should have added this as another scenario. By “ Capital” you actually mean “ savings” (house not included)
Great video. Comprehensive and I like how you deal with the real practical thoughts, like how your experience shows that expenses go up, not down, and you have to plan for that. The myth of 70% target is a legacy that needs to be put away to pasture. Retirement planning is changing and new strategies and real life metrics have to be part of the forefront.
Just want to thank you guys for providing this information. I always find your segments very interesting and informative, I even get more information from you guys than my own financial advisor. If you guys can do a segment on RRSP meltdowns strategies. Thank you
It is good to hear that your discussion of “optionally” conveys and advocates equity leveraging as a method possibly involving using a Reverse Mortgage as asset utilization (for individuals). From a layman point-of-view, this useful financial product has often been presented as a nonviable source.
Here's my “two cents” to possibly empowering day-to-day retirement experiences: Simply stated, this merely involves determining and pursuing relevant interests in subject matters that profoundly affects one's life in various ways. For me, this entails enhancing my financial observance and literacy as wells as staying abreast to current political events and concerns. And as a supplement, finding challenging ways to be consistently/persistently physically active accents this process. To an outside observer this may appear somewhat mundane, but such activities have proven to be quite effective towards a purposeful retirement life.
👍 During my retirement planning journey, I have watched hundreds of Canadian retirement content on RU-vid. You are the first to answer the simple question: "Are there tax implications when rolling over your RRSP to an RRIF. "No Tax Triggered" at minute 1:42. Thank you!
Supplementary to fostering an attitude of gratitude is mindfulness as you go about your daily endeavors. Making these two habitual go a long way towards a happy and successful retirement.
