Video Description

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.If you have any questions about this video's topic or retirement planning in general, visit https://www.parallelwealth.com/ or use the links below to learn more about our services: 🔗Video Links FREE Decumulation 101 Online 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 ➡️Fee For Service Retirement Planning: https://www.parallelwealth.com/planning ➡️Retirement Income Program™: https://www.parallelwealth.com/invest... ➡️Parallel Wealth Masterclass: https://www.parallelwealth.com/education More from Parallel Wealth: 🔗https://linktr.ee/parallelwealth The above affiliate links are provided for your convenience. If you click on a link and end up purchasing a product or service, this channel may receive compensation for the referral. We have personal vetted each product and service we provide links to. DISCLAIMER: This presentation is for informational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments carry risk, and past performance does not guarantee future results. Any forward-looking statements are based on assumptions and may not reflect actual outcomes. The content on this channel is for educational purposes only and does not provide specific investment or planning recommendations. Viewers should consult a qualified professional for retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for any decisions made based on this content. ••• 00:00 Disclaimer 00:32 Welcome & overview 01:13 RRSP withdrawals with a maxed TFSA 03:21 Smoothing taxes in retirement 04:38 Decumulation 101 06:55 Protecting retirement income with a cash wedge 09:25 Reverse mortgages explained 12:50 Weighing the downside of reverse mortgages 14:18 Passing the family home efficiently 20:00 Balancing large RRSP and non-registered accounts 25:56 Adjusting plans during market swings 30:30 Charitable giving strategies in retirement 38:32 Unlocking a LIRA and moving funds to RRSP 42:34 RRIF strategies before 71 46:16 Article: Top 7 Habits of Quietly Wealthy Canadians 50:15 Tip of the week: cash wedge 54:10 Conclusion