Why Canadian Retirement Changes When You Get a Pension

Why Canadian Retirement Changes When You Get a Pension

In this episode of the AskTMFG Podcast, Carlo Cansino and John Iaconetti break down why having a pension fundamentally changes your retirement strategy. They cover the common mistakes Canadians make, like failing to account for the tax impact of pension income, ignoring inflation's effect on fixed payments, and overlooking spousal survivor benefits, plus how to coordinate pension income with RRSPs, TFSAs, and personal savings for a tax-efficient plan. They also share a real example: how a 58-year-old client used her pension as a foundation to retire early and bridge the income gap before her pension kicked in. 👉 Watch the full episode here: https://youtu.be/Agks2XHEAhU [https://youtu.be/Agks2XHEAhU]  Question for our listeners: If you have a pension, have you coordinated it with your other income sources, or are you treating it as a separate piece of your retirement puzzle? 👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ [https://tmfg.ca/portfolio-analysis/] Follow us: LinkedIn: The McClelland Financial Group [https://www.linkedin.com/company/the-mcclelland-financial-group-of-assante-wealth-management-ltd/] Facebook: https://www.facebook.com/tmfg.ca [https://www.facebook.com/tmfg.ca] Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ [https://www.instagram.com/themcclellandfinancialgroup_/]

Age 67, $1M RRSP, No Pension: My Exact Withdrawal Plan

In this episode of the AskTMFG Podcast, Carlo Cansino walks through a step-by-step drawdown strategy for a 67-year-old retiree with $1M in an RRSP and no pension. He shows how CPP and OAS (boosted through deferral) form the income floor, why withdrawing $35,000/year from the RRSP before mandatory RIF conversion at 71 beats waiting, and how routing that money into the TFSA builds tax-free flexibility for later. Finally, he runs the real numbers at age 72 to show how this sequence keeps income safely below the OAS clawback threshold, protecting thousands in benefits that a "do nothing" approach would silently lose. 👉 Watch the full episode here: https://youtu.be/RPGatlExy_g [https://youtu.be/RPGatlExy_g]  Question for our listeners: If you're retiring without a pension, are you drawing down your RRSP strategically before age 71, or just letting the mandatory minimums decide for you? 👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ [https://tmfg.ca/portfolio-analysis/] Follow us: LinkedIn: The McClelland Financial Group [https://www.linkedin.com/company/the-mcclelland-financial-group-of-assante-wealth-management-ltd/] Facebook: https://www.facebook.com/tmfg.ca [https://www.facebook.com/tmfg.ca] Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ [https://www.instagram.com/themcclellandfinancialgroup_/]

"The Retirement Gap". Why Retirement Is Not What You Think...

In this episode of the AskTMFG Podcast, Carlo Cansino and John Iaconetti explore why so many financially prepared Canadians still feel disappointed in retirement, a pattern they call the retirement disappointment gap. They dig into the psychological side of retirement that most planning ignores: loss of identity and structure after leaving work, how Canadian winters can deepen isolation, and how big life shifts (like sudden togetherness with a spouse, or losing one) reshape retirement in ways money alone can't fix. They also lay out a five-part framework, building a "purpose portfolio," easing into retirement gradually, and prioritizing community, for a retirement that's financially secure and genuinely fulfilling. 👉 Watch the full episode here: https://www.youtube.com/watch?v=nuJEQICrarw [https://www.youtube.com/watch?v=nuJEQICrarw]  Question for our listeners: Are you planning for the money in retirement, or for what you'll actually do with your time? 👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ [https://tmfg.ca/portfolio-analysis/] Follow us: LinkedIn: The McClelland Financial Group [https://www.linkedin.com/company/the-mcclelland-financial-group-of-assante-wealth-management-ltd/] Facebook: https://www.facebook.com/tmfg.ca [https://www.facebook.com/tmfg.ca] Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ [https://www.instagram.com/themcclellandfinancialgroup_/]

RRSP to RRIF - The Conversion Trap Costing Canadians $50,000+

In this episode of the AskTMFG Podcast, Senior Financial Advisor Carlo Cansino breaks down the RRSP-to-RRIF conversion mistake costing Canadians with $1M+ in savings up to $50,000 -$200,000 in avoidable lifetime taxes. The conversation covers the mandatory conversion deadline at age 71, rising minimum withdrawal rates, and how those withdrawals stack with CPP, OAS, and investment income to trigger higher tax brackets and OAS clawback. Carlo also explains the "RRIF bomb" that hits surviving spouses, plus three strategies to fix it: early RRSP drawdown, pension income splitting, and using the TFSA as an overflow valve. 👉 Watch the full episode here: https://www.youtube.com/watch?v=JEzs-7kSMxQ [https://www.youtube.com/watch?v=JEzs-7kSMxQ]  Question for our listeners: Have you mapped out your RRIF conversion strategy, or are you relying on the default minimums? 👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ [https://tmfg.ca/portfolio-analysis/]  Follow us: LinkedIn: The McClelland Financial Group [https://www.linkedin.com/company/the-mcclelland-financial-group-of-assante-wealth-management-ltd/] Facebook: https://www.facebook.com/tmfg.ca [https://www.facebook.com/tmfg.ca]  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ [https://www.instagram.com/themcclellandfinancialgroup_/]

20% Not Ready For Retirement in Canada! - Here's Why You're Different

In this episode of the AskTMFG Podcast, Financial Advisors Carlo Cansino and John Iaconetti dig into a striking statistic: 1 in 5 Canadians have NO retirement plan whatsoever. The conversation explores what the latest data reveals about retirement readiness in Canada, why RRSP contributions are falling sharply (especially among younger Canadians), and how rising costs, debt, and stagnant wages are pushing retirement planning down the road. They also break down the gaps in confidence across generations and genders, why piecemeal advice from family and friends often leads to missed opportunities, and the five steps to building a smart, intentional retirement strategy that balances today's needs with tomorrow's goals. 👉 Watch the full episode here: https://www.youtube.com/watch?v=J-_D-90zWSA [https://www.youtube.com/watch?v=J-_D-90zWSA]  Question for our listeners: Do you have a retirement plan in place, or are you still figuring out where to start? 👉 If you'd like help building a strategy tailored to your situation, we're offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ [https://tmfg.ca/portfolio-analysis/] Follow us on our social channels: LinkedIn: The McClelland Financial Group [https://www.linkedin.com/company/the-mcclelland-financial-group-of-assante-wealth-management-ltd/]  Facebook: https://www.facebook.com/tmfg.ca [https://www.facebook.com/tmfg.ca]  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ [https://www.instagram.com/themcclellandfinancialgroup_/]