Too Much RRSP? RRIF Withdrawals, CPP Rumours, & Retirement Tax Strategies | Retirement Unpacked Ep.3

Video Description

Work with our team: https://www.parallelwealth.com/planning In this episode of Retirement Unpacked, we dig into more of your retirement questions. We cover whether it’s possible to have “too much RRSP,” why certain RRIF withdrawal strategies can create 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 real client stories and planning conversations that show how the right strategy can make all the difference. Steady Hand Interview: https://youtu.be/yPPAjsCogAc?si=n2Mjo3OkYtonWe7p 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: ➡️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. ••• Timestamps 00:00 Disclaimer 00:35 Welcome & overview 00:59 Can you have too much RRSP? 03:15 Bad RRIF withdrawal advice from banks 04:41 Why zero-tax years can backfire 06:07 RRSPs vs. RRIFs and long-term tax costs 09:08 Withholding tax explained simply 10:28 CRA refunds and real-life examples 12:30 Will CPP or OAS move to 67? 16:04 What happens when CPP disability ends 17:57 Dividends, DRIPs, and cashflow strategies 21:41 Can you really afford it in retirement? 26:14 Line of credit vs. RRIF withdrawals advice 30:23 Conclusion