Explore every episode of the podcast AskTMFG The Podcast

In this episode of AskTMFG, Senior Financial Advisor Carlo Cansino and Financial Advisor John Iaconetti explain why retirement starts to look different once you’ve saved $500,000 in your RRSP.

Many Canadians reach this milestone and still delay retiring. The problem usually isn’t the amount saved; it’s uncertainty about taxes, withdrawal timing, and how the RRSP fits into the bigger retirement picture. That uncertainty can keep people stuck in the “one more year” trap.

Carlo and John walk through what a $500,000 RRSP can make possible. It can give you more flexibility on when to take CPP, whether that means avoiding the reduction for starting at 60 or deferring to 70 for up to a 42% larger benefit. They look at what a 5% withdrawal could add to your annual income- about $25,000 a year in this example- and how that money might support travel and hobbies while you’re healthy.

They also cover how that added income may let you take less risk in your portfolio than you did while saving, and why it can help you plan for one of the biggest unknowns in retirement: healthcare costs.

👉 Watch the full episode here: https://www.youtube.com/watch?v=agaHAPx-Pos

Question for our viewers: Has your RRSP size changed as you plan to retire?

👉 Book a complimentary call: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Senior Financial Advisor Carlo Cansino walks through five tax moves he’d make before December 31 if he were 64 with $2.5 million saved for retirement.

For most people, December 31 is just New Year’s Eve. For retirees and pre-retirees, it’s the last day to control this year’s tax bill. After that, your withdrawals, unclaimed losses, and unused TFSA room are locked in for another year, and that can cost your family real money.

Carlo starts with charitable giving: donating appreciated stocks or mutual funds in-kind, rather than writing a cheque, can generally eliminate the capital gain while still earning a donation receipt for the full market value. He then explains tax-loss harvesting, the superficial loss rule, and why some retirees in a low-income year may consider harvesting gains instead. For those still working at 64, he covers why one last RRSP contribution can be one of the best remaining opportunities to reduce taxes before RRIF conversion, and why moving money from taxable accounts into your TFSA should be a priority, with cumulative room of up to $109,000 in 2026.

Finally, he looks beyond next April’s return to the biggest tax bill many families face: the one on the final return, when the remaining RRSP or RRIF is generally treated as income. Carlo explains why beneficiary designations matter and how charitable giving or life insurance can help manage that liability.

👉 Watch the full episode here: https://youtu.be/YFiAeR8sTN0?si=sUUnHcboNe9iYRc_ 

Question for our viewers: Which of these five year-end moves are you planning to make before December 31?

👉 Book a complimentary call: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Senior Financial Advisor Carlo Cansino walks through nine spousal income splitting rules that many retired Canadian couples miss.

Most couples assume income splitting means checking one box on their tax return, but that assumption can cost thousands of dollars a year in extra taxes and lost government benefits.

Not all retirement income qualifies in the same way. Registered pension plan income can generally be split at any age, while RRIF withdrawals usually qualify only from age 65, and RRSP withdrawals don’t qualify at all. CPP can’t be split on your tax return; it can only be shared through Service Canada. Carlo also explains the attribution rules that can tax income back to you, including spousal RRSP withdrawals made within three years of a contribution and investment income earned on money gifted to your spouse. Gifts to your spouse’s TFSA are the exception.

Finally, he covers the payoff: how splitting lets both spouses claim the pension income credit, why the OAS clawback is calculated separately for each spouse, and why Form T1032 should be reviewed every year rather than set once and forgotten.

👉 Watch the full episode here: https://youtu.be/iUgsGvghoGI?si=kaBjJwu3OzuVifDW 

Question for our viewers: Have you and your spouse reviewed how you split your retirement income this year?

👉 Book a complimentary call: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Financial Advisors Carlo Cansino and John Iaconetti explain what happens to your Canada Pension Plan benefits when your spouse passes away, and the steps you need to take. Many surviving spouses don’t know what they’re entitled to, and during an already difficult time, that gap can cost thousands of dollars in missed payments.

The government provides a one-time CPP death benefit of $2,500 to help with immediate costs such as funeral and burial expenses. The ongoing survivor’s pension is not automatic, though; you have to apply for it. How much you receive depends on your age when your spouse passes away and on how much your spouse contributed to CPP. Survivors 65 and older receive 60% of the deceased spouse’s retirement pension.

Carlo and John also clear up a common misconception: your own CPP and the survivor’s pension combined cannot exceed the maximum retirement pension for one person. Many survivors expect to receive their spouse’s full payment on top of their own, but in practice the top-up is often much smaller. That’s why it’s important to plan ahead for other income sources that can make up the difference.

👉 Watch the full episode here: https://youtu.be/gdziNfB9mlY 

Question for our viewers: Have you and your spouse talked about how your retirement income would change if one of you passed away?

👉 Book a complimentary call: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Financial Advisors Carlo Cansino and John Iaconetti walk through what you need to do with your CPP, OAS, and RRSP before you retire outside Canada. Many Canadian retirees who move abroad mismanage these benefits, and that mistake can cost thousands in unnecessary taxes and lost payments.

CPP can be collected in many countries, but it stays taxable in Canada and may also be taxed where you live, so exchange rates and tax treaties both matter. OAS can be paid internationally as well, but it comes with residency requirements and paperwork, and the clawback is based on your worldwide income.

RRSP and RRIF withdrawals are generally subject to a 25% non-resident withholding tax, which a tax treaty may reduce. Your new country may also tax that same money. Finally, they also explain why cross-border banking and a clear withdrawal plan should be in place before you leave.

👉 Watch the full episode here: https://youtu.be/MCecyS91KyY 

Question for our viewers: Are you thinking about spending your retirement outside Canada? Where would you go?

👉 Book a complimentary call: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Senior Financial Advisor Carlo Cansino explains the pension clause that catches thousands of Canadian retirees off guard: the bridge benefit. If you retired early with a defined benefit pension, part of your monthly income is temporary, and it ends automatically the month after you turn 65, whether or not you’ve started CPP. For some retirees, that means a drop of hundreds of dollars a month.

Carlo explains how the bridge benefit works alongside your lifetime pension, and why it can create a costly income gap for anyone planning to defer CPP to 70. He then walks through three steps to prepare. First, confirm the exact amount of your bridge benefit and the date it ends. Second, revisit your CPP strategy with that number in mind. Third, if you plan to delay CPP, build your own bridge using a planned withdrawal order. That order starts with your RRSP, moves to your non-registered accounts, and keeps your TFSA in reserve, so the drop at 65 becomes a non-issue instead of a shock.

👉 Watch the full episode here: https://youtu.be/N0RVUsOknto 

Question for our viewers: Did you know your pension income could drop at 65, even if you haven’t started CPP?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Financial Advisors Carlo Cansino and John Iaconetti break down the four levels of retirement wealth in Canada and help you see where you really stand. Many Canadians assume they’re in a lower wealth bracket than they are, which often leads to unnecessary stress and overly cautious retirement plans.

Carlo and John walk through what each level looks like and what income it can support using the 4% rule. A basic retirement of $250,000 to $500,000 is about making savings work alongside CPP and OAS. A comfortable retirement of $500,000 to $1.5 million shifts the focus to reducing taxes and planning for your estate. An affluent retirement of $1.5 million to $4 million brings the OAS clawback and tax planning to the forefront. At the high-net-worth level of $4 million and up, the priorities become estate planning, gifting, and using insurance to pass on wealth.

👉 Watch the full episode here: https://youtu.be/I3J9aKIS-zw 

Question for our viewers: Which level of retirement wealth do you think you’re in today?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Senior Financial Advisor Carlo Cansino explains the OAS clawback, a retirement risk many Canadians have heard of but few fully understand. He uses the example of John, a 63-year-old with $2.1 million across his RRSP, TFSA, and non-registered accounts. Carlo shows why the clawback depends on your income each year, not your total savings, and how the accounts you withdraw from can push you over the threshold.

He then covers five decisions to make before you start drawing down your portfolio. These are starting RRSP withdrawals before 65, not spending the RRSP first, making full use of the TFSA, and weighing whether to delay CPP and OAS to age 70.

👉 Watch the full episode here: https://youtu.be/uvaDlVj2JPw?si=Ri4caEzqc_VGPLzF 

Question for our viewers: Do you know which of your accounts you’ll draw from first in retirement?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Financial Advisors Carlo Cansino and John Iaconetti look at one of the most common fears in retirement planning: running out of money. Most Canadians worry their savings won't last, and that fear often leads to sacrifices that aren't necessary. In their experience working with retirees, much of this anxiety comes from misunderstanding what makes retirement savings last.

Carlo and John walk through the numbers behind retirement anxiety, including how many Canadians fear outliving their savings, why that concern runs even higher among younger adults, and how quickly retirement savings goals have shifted in the past year. They also discuss why younger Canadians carrying large GTA mortgages find it harder to picture their retirement, and why so many people are putting it off.

From there, they explain how understanding your retirement benefits can change your confidence, and why CPP provides a stronger foundation than many people realize. Carlo also walks through how TMFG lays out a client's expected spending against income sources like CPP, OAS, and RRSP withdrawals, and how seeing those numbers side by side can bring peace of mind.

👉 Watch the full episode here: https://youtu.be/vy__FPHwEdU

Question for our viewers: Do you know how much your CPP and OAS will add to your retirement income each year?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of AskTMFG, Senior Financial Advisor Carlo Cansino walks through the case of Robert, a 58-year-old pre-retiree in Ontario with a bonus sitting in savings, a stock that's up $15,000, and unused TFSA room. Maxing the TFSA felt like the responsible move, and it's the advice most people hear. But in the 5 to 10 years before retirement, funding it the wrong way can cost you more than it saves.

Carlo covers why the funding source matters, how TFSA room and RRSP deductions behave differently over time, and why an employer match should never be an afterthought. He also explains why the investments inside your TFSA matter as much as the account itself.

From there, Carlo looks at the window between retiring at 62 and starting CPP and OAS at 65, how it connects to OAS clawback and future RRIF minimums, and the TFSA withdrawal rule that cost Robert a penalty. He closes with the four-step framework TMFG built to turn Robert's accounts into a coordinated retirement income plan.

👉 Watch the full episode here: https://www.youtube.com/watch?v=hJxm9qemOY8

Question for our viewers: If you are in the 5 to 10 years before retirement, did you know TFSA room you withdraw doesn't reopen until the following calendar year?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of AskTMFG, Financial Advisors Carlo Cansino and John Iaconetti walked through five signs that you're financially ahead at each stage of life in Canada, from your 40s through your 60s.

In your 40s, Carlo and John said a good benchmark is retirement savings of about two to three times your annual income. Other signs are steady progress on your mortgage, diversified investments, surplus cash flow, and insurance in place to protect your income and your family. They acknowledged that this decade often means balancing your children's education savings against your own retirement, during your peak spending years. Even so, having any retirement savings at all puts you ahead of roughly 40% of Canadians your age.

By your 50s, the benchmark rises to five to six times your annual income. The mortgage should be close to paid off, and you should have a clear retirement timeline. Carlo and John also discussed the pressure many people feel as 65 gets closer, especially when they want to help adult children get into the GTA housing market.

In your 60s, those who are doing well typically have savings of eight to ten times their expected annual retirement spending. They carry no debt and have a strategy for CPP. They've also arranged health coverage to replace group benefits, and they've reviewed their insurance with estate planning in mind. Carlo and John challenged three common beliefs: that you must wait until 65 to retire, that you should move everything into cash or GICs, and that you should always delay CPP. They closed by reminding viewers that CPP's guaranteed, inflation-protected income is often a bigger part of retirement than people realize.

👉 Watch the full episode here: https://youtu.be/u1l9A1dPA-4 

Question for our viewers: Which of these milestones have you already reached?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Senior Financial Advisor Carlo Cansino walked through a real client case: a couple with four accounts (an RRSP, a LIRA from a former employer, a TFSA, and a non-registered account), all built over 30 years with no plan for how to draw them down in retirement.

The couple had been spending out of habit. They pulled from the TFSA for home repairs and vacations while the non-registered account kept generating taxable income every year. Their RRSP sat untouched and kept growing, which was setting them up for larger mandatory RRIF withdrawals at 71, a bigger tax bill, and possible OAS clawback once net income crosses roughly $95,000. Their LIRA hadn't been reviewed in years. Most of their taxable income also sat with one spouse, while the other had unused room in the lower tax brackets.

Carlo explained the plan the team built. They started by putting every account on one page. Next, they drew down the RRSP and LIRA early to fill the lower tax brackets before 71, and used the non-registered account to bridge extra spending. The TFSA was protected and saved for last. The team also timed CPP and OAS alongside the withdrawals and split income between spouses, with the plan reviewed every year. Carlo closed by noting that this is fixable at almost any stage, before or even into retirement.

👉 Watch the full episode here: https://youtu.be/D4TFapWgUNI 

Question for our viewers: Do you have a set order for drawing from your accounts, or has it been more habit than plan?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of AskTMFG, Financial Advisors Carlo Cansino and John Iaconetti walked through every major government change that took effect for Canadian retirees in 2025, covering CPP, Old Age Security, and the Guaranteed Income Supplement.

The maximum monthly CPP payment rose to $1,406.10 in January 2025, up from $1,364.60 the year before, with the yearly maximum pensionable earnings increasing to $71,300. Carlo and John also explained CPP2, the additional tier of contributions introduced on income between $71,300 and $81,200, which added roughly $400 in extra contributions for higher earners, a change that put a modest pinch on cash flow for those still working, even though it ultimately meant more inflation-protected retirement income down the line.

On the OAS side, maximum monthly payments climbed to about $727 for those aged 65 to 74, with an enhanced payment of up to $800.44 for seniors 75 and older, while the OAS clawback thresholds moved to a range of $93,000 to $151,000 (and up to $157,000 for those 75+). For lower-income retirees, GIS eligibility thresholds also increased, rising to just over $22,000 for individuals and $29,000 for couples.

Carlo and John closed by emphasizing that retirees already drawing income could use these increases to reduce RRIF withdrawals and preserve more of their savings, while those still working should reassess their cash flow and contribution room in light of the changes, and encouraged viewers to speak with a planner to see how the updates apply to their specific situation.

👉 Watch the full episode here: https://youtu.be/r34CybC_p2k 

Question for our listeners: Did these 2025 changes affect how you planned your retirement income?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Senior Financial Advisor Carlo Cansino tackles one of the most common misconceptions in CPP planning: that delaying CPP to age 70 is automatically the smarter move.

The answer isn't as simple as the standard break-even math suggests. Most CPP comparisons stop at the age when the larger deferred payments overtake the smaller early payments, typically around age 79, but that number ignores what funds the wait. Using a 60-year-old retiree with a $600,000 RRSP who needs $60,000 net per year (about $72,533 gross), Carlo walks through what delaying CPP to 70 actually costs the account: it drops to roughly $35,638 by age 71, under 6% of its starting value, even with steady 5% growth and no market downturns.

He contrasts that with starting CPP at 60, where the guaranteed income immediately offsets part of the withdrawal need, leaving the RRSP at roughly $181,389 at the same age, a gap of about $145,751 from the identical starting balance. Carlo also identifies the real threshold that matters: roughly 8 years of RRSP coverage (balance divided by the grossed-up spending need) is where delaying CPP shifts from risky to genuinely advantageous, and shows how that threshold moves with spending level, growth assumptions, and inflation.

👉 Watch the full episode here: https://youtu.be/yR4hz5asNGg 

Question for our listeners: Does your RRSP have enough runway to bridge the gap to age 70, or does starting CPP earlier make more sense for your situation?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of AskTMFG, Carlo Cansino and John Iaconetti tackle one of the most common questions they hear from Canadian retirees: is $1 million still enough to retire on.

The answer looks different than it did just a few years ago. Most people assume a million dollar portfolio supports $50,000 to $60,000 a year in spending, but a more sustainable range is actually $35,000 to $45,000, depending on where you live and how inflation has affected your cost of living. Carlo and John walk through why a 3.5% to 4.5% withdrawal rate is a safer target than the 5% to 6% many retirees assume, using a 65 year old with a million dollar portfolio as an example of how overestimating spending power can erode a nest egg faster than planned.

They also explain why withdrawal rates tend to come down as portfolios shift to more conservative investments later in retirement, and why the most comfortable retirees aren't just the ones who hit the million dollar mark, but the ones who know how to maximize CPP, OAS, and investment income together.

👉 Watch the full episode here: https://youtu.be/qcNs3QT3GYk 

Question for our listeners: Does $1 million match what you expected retirement to look like, or has your number changed?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Carlo Cansino compares two common retirement income profiles at age 75: a retiree with a $60,000 a year indexed defined benefit pension, and a retiree holding $900,000 in an RRSP. The RRSP balance appears larger on paper, but a closer look at the tax treatment of each reveals a more nuanced picture.

Both retirees start at 65 with the same CPP and OAS baseline, but their income paths diverge fast. The pension grows only with inflation, reaching $73,140 by 75. The RRSP, converted to a RRIF, faces mandatory minimum withdrawals that climb every year regardless of market performance, forcing out roughly $69,000 at age 75 alone. In year one, the RRIF holder actually shows less taxable income than the pension holder, and both retirees cross the 2026 OAS clawback threshold, with the pension giving back more in that single year.

But the real risk isn't the annual grind, it's what happens at death. Carlo walks through how a RIF balance is fully taxed in the year of death with no spreading out, potentially creating a tax bill between $400,000 and $510,000 on an account that grew to nearly $950,000. A pension simply stops or drops to a survivor benefit, with no lump sum for the CRA to claim. He closes with the planning levers that matter most: naming a successor annuitant or beneficiary on the RIF, drawing down the RRSP earlier between ages 60 and 71, and using permanent life insurance to offset the eventual tax hit.

👉 Watch the full episode here: https://youtu.be/xwWVMDdQ1_c 

Question for our listeners: Which would you rather be holding at 75, the pension or the RRSP?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Carlo Cansino and John Iaconetti break down the five changes Canadian retirees consistently say they wish they'd made at age 55, using a real client couple to show what happens when a plan is missing.

At 55, you still have time to course correct: understanding CPP and OAS eligibility before you're locked into a claiming decision, diversifying and rebalancing your portfolio as risk tolerance shifts, maximizing RRSP and TFSA contribution room while it's available, paying off high-interest debt before fixed retirement income has to absorb it, and budgeting for health care costs provincial insurance won't cover.

Carlo and John also walk through a client couple who ran a successful business and saved consistently, but had no real plan for what retirement income would look like, a gap that's common even among high earners.

👉 Watch the full episode here: https://youtu.be/T4lprJQBIu0 

Question for our listeners: Which of these five changes would you tell your 55-year-old self to make first?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of AskTMFG, Carlo Cansino walks through 11 assumptions that quietly derail retirement plans, even for people who did everything right on paper.

Carlo covers the blind spots most retirees never plan around: treating home equity as income when it's rarely touched, assuming a spouse can step in without a written plan, letting kids' requests erode savings without a set number in advance, and waiting too long to gift an inheritance that would matter more now than later.

He also breaks down why 20 years is the wrong number to plan retirement around (a healthy 65-year-old couple has close to a 70% chance one of them reaches 90), why unspent savings get hit hard by tax at death, and why income can stack higher than peak earning years once CPP, OAS, a pension, and RRIF minimums all kick in at once.

The back half gets into long-term care costs that many plans leave out entirely (private facility care can run $6,000 to $15,000 a month), why inflation does more long-term damage than a market crash, and why staggering retirement with a spouse instead of stopping the same month can change the whole plan.

👉 Watch the full episode here: https://youtu.be/EzJZdgQM8e8 

Question for our listeners: Which of these 11 blind spots hits closest to home for your own plan?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of AskTMFG, John Iaconetti and Carlo Cansino tackle a question they hear constantly: should you draw from your RRSPs early to delay starting CPP?

They walk through the false beliefs that trip people up, like assuming CPP is always best taken early or that avoiding tax now is automatically the smarter move, and how those beliefs can lead to higher tax brackets, OAS clawback, and smaller lifetime CPP benefits.

Using a client case, Gary and Susan, both 63 with $500,000 in RRSPs, they show how drawing RRSPs first to defer CPP to 70 works for cash flow but forces more aggressive withdrawals, since deferring costs them roughly $150,000 in extra premature RRSP withdrawals combined over seven years. Because they also want to leave an estate to their adult children, and CPP offers no benefit beyond a surviving spouse, the better fit is often the reverse: take CPP earlier, let the RRSP keep growing, and pass it on through beneficiary designations, with strategic melt-down into TFSAs later to soften the estate tax hit.

The takeaway: there's no one-size-fits-all answer; it depends on income, retirement age, other assets, life expectancy, and estate goals.

👉 Watch the full episode here: https://youtu.be/jubodV1vIuA 

Question for our listeners: If leaving an estate to your kids matters to you, would that change whether you take CPP early or defer it?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of AskTMFG, Carlo Cansino breaks down when delaying CPP actually makes sense for retirees with significant savings, using a client example, Doug, to walk through the math.

Most Canadians start CPP the moment they're eligible, but for someone like Doug, with $1.3 million saved and a $20,000 guaranteed income floor before CPP even enters the picture, the decision becomes a planning lever rather than a cash flow necessity. Carlo names four cases where delay isn't the right call: a shortened life expectancy, no spouse to leave a survivor benefit to, an early-retirement market downturn, or already having more guaranteed income than needed.

For Doug, waiting five years grows his CPP by 42% for life, with a breakeven around age 81-82, and delaying to 90 nets him roughly $38,000 more overall. Carlo also covers the OAS clawback question and how to use the pre-CPP years to draw down the RRSP at a lower tax rate while moving surplus into the TFSA.

👉 Watch the full episode here: https://youtu.be/nBPPqp6p0OU 

Question for our listeners: If you're sitting on significant retirement savings, would you take CPP as soon as you're eligible, or test what delaying it could do for your plan?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of AskTMFG, John Iaconetti and Carlo Cansino review 10 common RRSP strategies and mistakes, and break down which approach actually wins out for long-term retirement savings.

They walk through nine missteps clients bring to them again and again: contributing right at the deadline instead of throughout the year and losing months of tax-deferred growth, contributing only the minimum instead of maximizing long-term benefit, parking funds in low-risk assets like GICs that can't keep pace with inflation over decades, concentrating everything in one stock or sector, over-contributing and triggering CRA penalties, treating the RRSP like an emergency fund and paying the tax and penalty cost of early withdrawals, ignoring the core benefit of tax-deferred compounding, and never rebalancing as the portfolio's risk profile drifts over time.

To make it concrete, they run a real client case: a 50-year-old contributing $5,000 annually at the deadline into GICs, projected to grow from $100,000 to about $248,000 over 15 years. By shifting to monthly contributions (capturing tax-deferred growth sooner), indexing contributions to inflation, reinvesting the tax refund back into the plan, and moving into a diversified stock-and-bond portfolio targeting a 6% return, that same starting point grows to roughly $440,000, nearly $200,000 more from those adjustments alone. 

👉 Watch the full episode here: https://youtu.be/AcPvUp28q7I 

Question for our listeners: Which of these nine RRSP mistakes hits closest to home for you: deadline contributions, GIC-heavy allocations, or skipping the rebalance?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, Carlo Cansino walks through five RRIF moves that most Canadians never think to make before age 71. The mandatory RRIF withdrawal itself can't be changed, but nearly everything around it can, and that's where the tax savings are hiding.

He covers five specific hacks: converting a small slice of your RRSP into a RRIF at 65 to unlock the $2,000 pension income tax credit (and open up income splitting with a spouse), transferring investments in kind rather than cashing out when your RRIF minimum comes due so you're not forced to sell during a market dip, naming a spouse as successor annuitant instead of just beneficiary so the RRIF continues rather than collapsing and triggering a full taxable deregistration, using your last-ever RRSP contribution room in the year you turn 71 before the December 31 deadline, and naming a charity directly on the RRIF (rather than through your will) so the gift skips probate and generates a donation credit that offsets the final tax bill right away.

He closes by noting these are exactly the kinds of details TMFG's advisory team walks through account by account, and invites viewers whose RRSP is converting soon to request a complimentary portfolio analysis.

👉 Watch the full episode here: https://youtu.be/7LMrNhrHlQM 

Question for our listeners: Which of these five is the one you hadn't thought about before: converting early, in-kind transfers, successor annuitant, last-minute RRSP room, or naming a charity directly?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of AskTMFG, John Iaconetti and Carlo Cansino dig into a tool most people trust without question: the free online retirement calculator. It looks simple, professional, and authoritative. Plug in your age, income, and savings, and it returns a clear chart showing whether you're on track. The problem is that these calculators are quietly getting the answer wrong for millions of Canadians.

They unpack four flaws that show up across virtually every standard calculator: a flat 3% inflation rate applied to all expenses even though healthcare rises while other costs fall, a static average investment return that ignores real market volatility and sequence-of-returns risk, an assumption that spending stays flat through retirement when it actually dips in the middle years before rising again, and little to no accounting for tax-efficient withdrawal strategies. 

They determined that standard calculators are built for simplicity, not accuracy, and that gap can cost you years of your life you didn't need to work. Getting a true picture means adjusting for category-specific inflation, sequence-of-returns risk, a realistic spending curve, and tax-optimized withdrawals, all specific to your own numbers, not a generic model.

👉 Watch the full episode here: https://youtu.be/Xl_6SWVU8Ns 

Question for our listeners: Have you ever run your numbers through a free retirement calculator — and how confident are you that its answer was actually right?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us:

LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Carlo Cansino, Senior Financial Advisor with The McClelland Financial Group, tackles a decision most Canadians leave until the CRA forces their hand: when to convert an RRSP into a RRIF. Age 71 feels like the deadline, but it's actually the last resort; everything before that is a choice, and the clients who convert early usually end up with more control, not less.

He walks through why converting before 71 lets you set your own withdrawal size instead of being locked into the CRA's mandatory minimum, why RRIF income (unlike RRSP withdrawals) unlocks pension splitting and the $2,000 pension income tax credit starting at 65, and how an early conversion gives you room to refill unused TFSA space on your own timeline.

He also breaks down the compounding effect of waiting: a fuller RRSP balance at 71 collides with a higher mandatory withdrawal percentage, pushing more income onto a tax return at the exact moment CPP and OAS also kick in, and for 2026, crossing the $95,303 OAS clawback threshold costs 15 cents of OAS for every dollar over.

👉 Watch the full video here: https://youtu.be/SelA_V0yWY0 

Question for our viewers: Do you know whether converting your RRSP early or waiting until 71 makes more sense for your income picture?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us:

LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, John Iaconetti and Carlo Cansino dig into a timing factor most Canadians never think to plan around: the specific month you retire. It's easy to pick a retirement date based on a birthday or an anniversary, but the month can quietly reshape your tax bracket, benefit eligibility, and first-year cash flow.

They unpack why mid-year retirements can stack salary, unused vacation payouts, and partial pension income into one tax year and trigger unnecessary tax burdens, why CPP and OAS don't start automatically and need to be coordinated months in advance to avoid income gaps, and how different months carry different advantages, January for a clean tax-year split, December for maximizing year-end bonuses and pension credits, while April/May can create confusion as T-slips and multiple income sources collide in the same tax cycle.

They wrap up with a simple framework: map out your income streams for the first 12 months post-retirement, coordinate CPP, OAS, and pension timing together rather than separately, and work with a financial planner to pick a retirement month, not just a retirement year.

👉 Watch the full episode here: https://youtu.be/3r_LkceCc6w 

Question for our listeners: Have you thought about which month you'll retire in, or just which year?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Carlo Cansino breaks down why a guaranteed pension isn't always the better deal compared to savings, using a side-by-side case study of two retirees. Sandra retires with an $ 80,000-per-year pension plus maxed-out CPP and OAS, landing at roughly $107,000/year — fully taxable. Mark retires with $1,000,000 split across an RRSP, TFSA, and non-registered account, and, on the surface, looks $40,000/year short.

He unpacks why Sandra's "bigger number" actually costs her: her guaranteed income pushes her $11,677 over the 2026 OAS clawback threshold of $95,323, resulting in a permanent loss of about $1,752/year to the clawback, with no ability to adjust. Mark, by contrast, can strategically blend RRSP, TFSA, and non-registered withdrawals to keep his taxable income low, fully protect his OAS, and match or beat Sandra's spendable income, but only if he actively melts down his RRSP between 65 and 71, before mandatory RRIF withdrawals force his hand and push him into the same clawback trap.

He wraps up with three takeaways: focus on total taxable income rather than the headline number, know your OAS clawback exposure, and don't skip the pre-71 RRSP drawdown window if you're relying on savings instead of a pension.

👉 Watch the full episode here: https://youtu.be/85XdYO3PG-I 

Question for our listeners: If you're relying on savings instead of a pension, do you have a plan for drawing down your RRSP before age 71?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us:

LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Carlo Cansino breaks down how to avoid the RRSP tax trap for Canadians approaching retirement with large registered balances. Using a $1.7 million RRSP client as an example, he walks through the key questions that shape a smart withdrawal strategy, account consolidation, spousal income splitting, other assets, retirement income needs, CPP/OAS timing, TFSA room, and current versus future tax brackets, then lays out the actual plan: drawing down RRSPs early while in a lower bracket, redirecting some withdrawals into TFSAs, and timing government benefits to avoid clawbacks.

👉 Watch the full episode here: https://youtu.be/10vNX3NenUM 

Question for our listeners: Do you have a withdrawal order mapped out for your RRSPs, or are you planning to figure it out at 71?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of the AskTMFG Podcast, Carlo Cansino breaks down the three most common (and expensive) CPP mistakes new retirees make in their first year, using Frank as a case study. He retired at 62 with a $650,000 combined RSP/TFSA portfolio and $25,000 a year in consulting income.

He unpacks why retiring and starting CPP are two completely separate decisions (taking CPP at 60 instead of waiting to 70 locks in a permanent swing of over $1,000 a month for life), why CPP payments aren't taxed at the source the way a paycheque is, meaning retirees can get hit with a surprise tax bill if they don't request withholding, and why the online CPP estimate in MyServiceCanada can be misleading if your contribution history has changed since you last checked it.

He wraps up with a simple three-part fix: don't default to starting CPP the moment you retire, either request voluntary withholding or manually set aside your marginal tax rate, and pull your actual contribution record rather than relying on the projected estimate.

👉 Watch the full episode here: https://youtu.be/guAhtH3_vic 

Question for our listeners: Have you actually pulled your CPP contribution record lately, or are you still going off an old estimate?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group  Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of the AskTMFG Podcast, Carlo Cansino and John Iaconetti unpack why hitting the $1 million mark in retirement savings isn't just a financial milestone; it's a psychological turning point, and what actually changes once you get there.

They cover what a million-dollar portfolio can sustainably generate (roughly $7,000 a month after tax before government benefits are added), why the "touch RRSPs last" mindset often costs Canadians in lifetime tax, how income splitting becomes especially powerful for couples with larger portfolios, and how factors like retirement age, longevity planning to 95, and home equity all shape how far that million actually goes.

They also lay out a simple annual optimization routine: reviewing withdrawal rates, investment returns, and tax bracket every year, and why becoming too conservative after reaching $1 million can work against you.

👉 Watch the full episode here: https://www.youtube.com/watch?v=GEydDQQbyA8 

Question for our listeners: If you're getting close to (or past) the $1 million mark, have you built an actual withdrawal and tax strategy around it, or are you still just watching the number grow?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of the AskTMFG Podcast, Carlo Cansino breaks down the married couples' version of the retirement income plan, how a 67-year-old with $1 million in his RRSP and a 64-year-old spouse with $200,000 in hers can structure withdrawals to keep $10,000 to $20,000 more per year than couples who don't plan strategically together.

He covers the key moves: converting a portion of an RRSP to a RIF before age 71 to unlock pension income splitting (something RRSP withdrawals alone don't allow), using the income gap between spouses to shift income to the lower-earning partner's tax bracket, recalculating the optimal T1032 split every year as CPP, OAS, and RIF minimums change, and protecting OAS from clawback on both spouses' returns.

He also walks through what happens if one spouse passes away first, and why building survivor benefit planning into the plan now (rather than after) matters for the surviving spouse's tax bill down the road.

👉 Watch the full episode here: https://youtu.be/PUY-5QzPj8A 

Question for our listeners: If you're part of a couple, have you looked at your combined retirement income picture, or are you and your spouse still planning around two separate numbers?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/ 

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of the AskTMFG Podcast, Carlo Cansino and John Iaconetti break down why the "$1.7 million to retire" headline number isn't the full story, and what actually determines your real retirement target at age 60.

They cover the common mistakes Canadians make, like using a cookie-cutter savings figure instead of working from actual expenses, forgetting that CPP is permanently reduced by roughly 36% if taken at 60 instead of 65, and not accounting for the 5-year gap before Old Age Security kicks in, plus how to draw tax-efficiently from RRSPs/RRIFs, TFSAs, and non-registered accounts alongside CPP, OAS, and any employer pension.

They also share a practical rule of thumb: budgeting around 70% of pre-retirement expenses, using the 4% withdrawal rate to keep your portfolio's principal intact, and why some clients choose part-time work in retirement, not just for extra income, but to stay socially connected.

👉 Watch the full episode here: https://youtu.be/SOJf22TZQy8 

Question for our listeners: Have you calculated your actual retirement number based on your expenses and income sources, or are you still going off a headline figure like $1.7 million?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

In this episode of the AskTMFG Podcast, Carlo Cansino breaks down the 5 mistakes Canadians can't afford to make in their last year before retirement.

He covers the common pitfalls, like delaying the RRSP meltdown until age 71 forces mandatory withdrawals, picking a CPP start date without modeling it against your full income picture, and triggering the OAS clawback by accident once RRIF minimums, CPP, and OAS stack together, plus how to sequence withdrawals across RRSP, TFSA, and non-registered accounts and calculate the CRA's share at death before it catches your family off guard.

He also shares a real example: clients with $800,000 in an RRSP who looked retirement-ready on paper, but without a drawdown strategy, the CRA stood to become the biggest beneficiary of that account.

👉 Watch the full episode here: https://youtu.be/23EDkTKG-Lw 

Question for our listeners: If you're within a year or two of retirement, have you mapped out your withdrawal sequence and estate tax exposure, or are you still planning to figure it out as you go?

👉 Complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

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 

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/

Follow us:

LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

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 

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/

Follow us:

LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

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 

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/

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

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 

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/ 

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca  Instagram: https://www.instagram.com/themcclellandfinancialgroup_/ 

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 

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/

Follow us on our social channels:

LinkedIn: The McClelland Financial Group 

Facebook: https://www.facebook.com/tmfg.ca 

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Carlo Cansino explains how the July 2026 Old Age Security recalculation could quietly reduce the monthly benefit of well-prepared Canadian retirees, often without any letter, phone call, or warning.

The conversation explores why OAS is recalculated quarterly rather than once a year, and why the "clawback" catches far more retirees off guard than just the very wealthy.

We also walk through the strategies still available before December 31st like drawing on the TFSA, pension income splitting, timing major purchases, and income sequencing, to help shape the next clawback cycle and protect your benefit.

👉 Watch the full episode here: https://www.youtube.com/watch?v=FUW85jh-ws0 

Question for our listeners: Did you know your OAS could be reduced based on income you earned a full year earlier?

👉 If you'd like to know whether you're at risk in the next clawback cycle, we're offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us on our social channels:

LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, financial advisors Carlo Cansino and John Iaconetti tackle one of the most common retirement misconceptions Canadians hold: that reaching $1.5 million means you're financially set for retirement.

The conversation explores why $1.5 million may not be the safe number many people assume, how inflation silently cuts purchasing power in half over a 30-year retirement, and why the popular 4% withdrawal rule may no longer hold up in today's environment of longer lifespans and greater market volatility.

We also discuss the real cost of healthcare in Canada that most retirees underestimate, how sequence-of-returns risk can permanently derail a retirement portfolio if markets drop early, the tax drag that quietly erodes savings, especially from RRSP-heavy portfolios, and the four psychological traps that lead Canadians to overestimate their retirement readiness.

👉 Watch the full episode here: https://www.youtube.com/watch?v=aRgZBH6sjbE

Question for our listeners: If you retired tomorrow with $1.5 million, do you know exactly how long it would last and what risks could cut it short?

👉 If you'd like help building a retirement plan tailored to your goals, we're offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Carlo Cansino reveals how one retirement income strategy saved a Canadian retiree more than $200,000 in taxes, with the exact same savings, investments, and lifestyle as the alternative plan.

The conversation explores why most retirees assume their tax bill in retirement is largely fixed, how withdrawing from the wrong account at the wrong time can cost tens of thousands in a single year, and why the biggest tax problems tend to build slowly and silently over decades.

Using a side-by-side comparison of two retirement plans for the same composite couple, Carlo walks through the six decisions that created the $200,000 gap: RRSP drawdown timing, CPP coordination, pension income splitting, TFSA preservation, gradual capital gains management, and donating appreciated securities instead of cash.

👉 Watch the full episode here: https://youtu.be/1KvAttVjZHA 

Question for our listeners: Have you ever seen what a different retirement income strategy could save you in lifetime taxes?

👉 If you'd like help identifying tax savings opportunities in your own plan, we're offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Financial Advisors Carlo Cansino and John Iaconetti reveal a truth that goes against conventional wisdom: Why delaying retirement past age 60 could actually be costing you.

The conversation explores why age 60 is such a critical inflection point, why the old advice to "just work longer and save more" often backfires, and why chasing magic numbers like $1 million can lead Canadians to delay retirement unnecessarily.

They also discuss the fears that keep people working, losing identity, social connection, and spousal age gaps, along with how TFSAs can accelerate retirement timelines by 5 to 10 years, and the personal costs of waiting: missed health, family time, and experiences that may never come back.

Whether you're approaching 60, dreaming of an earlier exit, or wondering whether you've already saved enough, this episode offers practical insights into retirement timing, tax-free income strategies, and building a retirement plan that balances financial confidence and life satisfaction.

👉 Watch the full episode here: https://youtu.be/SVPYMpSPDIQ 

Question for our listeners: If the math showed you could retire at 60, would you take the leap, or would you keep working anyway?

👉 If you'd like help building a retirement plan tailored to your goals, we're offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, we tackle one of the biggest transitions Canadians face in retirement: what to do after downsizing your family home.

The conversation explores why downsizing is a retirement planning event rather than just a real estate decision, how a tax-free lump sum can affect taxes, OAS clawbacks, and long-term flexibility, and why the biggest mistakes happen after the sale closes.

We also discuss the risks of making gifting or investment decisions too quickly, why downsizing doesn't always lower your cost of living, the dangers of waiting too long to act, and a smarter four-step framework for integrating the proceeds into your retirement plan.

Whether you're planning to downsize, sitting on proceeds from a recent sale, or weighing alternatives like a reverse mortgage, this episode offers practical insights into retirement income planning, tax strategy, and making your home equity work for you.

👉 Watch the full episode here: https://youtu.be/HLBGOdmbiIc 

Question for our listeners: If you sold your home tomorrow, would you know exactly how the proceeds fit into your retirement plan?

👉 If you'd like help building a retirement plan tailored to your goals, we're offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Financial Advisors Carlo Cansino and John Iaconetti tackle a question many Canadians ask after reaching a major financial milestone: What happens if you stop saving for retirement after accumulating $1 million?

The conversation explores the psychological shift that often occurs after reaching seven figures, why $1 million can create a false sense of financial security, and how stopping contributions too early may impact long-term retirement outcomes.

They also discuss the impact of inflation, market volatility, retirement timelines, withdrawal planning, and the common mistakes Canadians make when they view $1 million as a finish line rather than a milestone. 

Whether you're working toward your first million, approaching retirement, or wondering if you've already saved enough, this episode offers practical insights into retirement planning, wealth accumulation, investment growth, and building a sustainable retirement income strategy in Canada.

👉 Watch the full episode here: https://www.youtube.com/watch?v=qJfhgITbt04 

Question for our listeners:

If your retirement portfolio reached $1 million tomorrow, would you keep contributing, or would you feel comfortable taking your foot off the gas?

👉 If you'd like help building a retirement plan tailored to your goals, we're offering a complimentary portfolio analysis:

https://tmfg.ca/portfolio-analysis/

Follow us on our social channels:

LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Financial Advisor Carlo Cansino discusses one of the most overlooked retirement planning risks for Canadian couples: what happens financially when a spouse passes away.

The conversation explores how retirement income can change after the loss of a spouse, including the impact on CPP survivor benefits, pensions, RRIF withdrawals, income splitting opportunities, and overall tax efficiency. Carlo and John explain why many surviving spouses are unprepared for the financial, administrative, and tax-related responsibilities that often arise during an already difficult period.

They also discuss common mistakes families make in the first year after a loss, the importance of proper beneficiary designations, tax-efficient asset transfers, estate coordination, and how a survivor plan can help reduce stress and avoid costly financial mistakes.

Whether you're approaching retirement, already retired, or helping aging parents navigate their financial future, this episode offers practical insights into retirement, estate, and tax planning, as well as wealth transfer strategies for Canadian families.

👉 Watch the full episode here: https://youtu.be/hPKv2mWq2mo  

Question for our listeners:

Have you and your spouse discussed what would happen financially if one of you passed away unexpectedly?

👉 If you'd like help building a retirement plan that protects both spouses and prepares for life's major transitions, we're offering a complimentary portfolio analysis:

https://tmfg.ca/portfolio-analysis/

Follow us on our social channels:

LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Financial Advisors Carlo Cansino and John Iaconetti break down one of the most common retirement questions Canadians ask: Is $850,000 enough to retire and never work again?

The conversation explores how CPP, OAS, withdrawal strategies, and spending habits can dramatically change what retirement actually looks like for Canadians.

Carlo and John also discuss the importance of diversification, inflation protection, dynamic withdrawal planning, and managing sequence of returns risk throughout retirement.

👉 Watch the full episode here: https://youtu.be/cQ40QWoUcN0

Question for our listeners: Do you think Canadians overestimate how much money they actually need to retire comfortably?

👉 If you’d like help building a retirement strategy tailored to your goals, we’re offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Senior Financial Advisor Carlo Cansino explains why taking only the minimum RRIF withdrawal may not always lead to the best long-term tax outcome.

The conversation explores how growing RRIF balances can eventually lead to larger mandatory withdrawals, higher taxable income, OAS clawbacks, and increased estate tax exposure later in retirement.

We also break down strategies retirees may use to create a more stable, tax-efficient retirement income structure, including proactive withdrawal planning, TFSA recycling, and spousal coordination.

👉 Watch the full episode here: https://www.youtube.com/watch?v=aWTsodgy6CI 

Question for our listeners: Do you think most retirees focus too much on lowering taxes today instead of managing taxes across retirement?

👉 If you’d like help reviewing your own retirement income and withdrawal strategy, we’re offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Financial Advisors Carlo Cansino and John Iaconetti break down how the decline of pension coverage in Canada has completely changed retirement planning for millions of Canadians.

They explain why having a pension can dramatically improve retirement security, and why not having one may require a very different savings and investment strategy.

The conversation explores how pensions help reduce sequence of returns risk, create more predictable retirement income, and improve long-term tax planning. 

👉 Watch the full episode here: https://youtu.be/_TDPkF4claU 

Question for our listeners: Do you think Canadians without pensions fully realize how much more responsibility falls on their personal retirement savings?

👉 If you’d like help building a retirement strategy tailored to your goals, we’re offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Senior Financial Advisor Carlo Cansino breaks down the estate tax trap many Canadian retirees unknowingly build over time.

He explains how RRSPs, RRIFs, cottages, and investment accounts can eventually create a large future tax bill if there’s no long-term withdrawal and estate strategy behind them.

He explores how retirement income, RRIF withdrawals, and unrealized capital gains can stack together later in life or on a final tax return, often leaving families surprised by how much may go to the CRA. 

👉 Watch the full episode here: https://youtu.be/yooziogkRRA 

Question for our listeners: Do you think most Canadians underestimate how much tax their estate could eventually owe?

👉 If you’d like help building a retirement strategy tailored to your goals, we’re offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Financial Advisors Carlo Cansino and John Iaconetti break down why blindly maximizing your RRSP every year may actually work against your long-term financial plan.

They explain how high-interest debt, lower retirement tax brackets, RRSP loans, and poor contribution timing can quietly create opportunity costs that many Canadians never account for.

The conversation also explores how debt elimination can sometimes provide a stronger guaranteed financial return than investing, and why optimizing your overall financial position matters more than simply growing your RRSP balance.

👉  https://youtu.be/8nCeSDOlanQ  

Question for our listeners: Do you think most Canadians focus too much on maximizing RRSP contributions without considering the full financial picture?

👉 If you’d like help building a retirement strategy tailored to your goals, we’re offering a complimentary portfolio analysis: https://tmfg.ca/portfolio-analysis/

Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of the AskTMFG Podcast, Senior Financial Advisor Carlo Cansino breaks down how enhanced CPP is quietly changing retirement planning for Canadians approaching retirement between now and 2027. He explains how larger CPP payments may eventually interact with RRIF withdrawals, Old Age Security (OAS), and taxable investment income, creating retirement tax and clawback issues many retirees never see coming.

The conversation also explores why enhanced CPP changes the importance of income sequencing, retirement tax planning, and coordinating when different income sources begin during retirement.

👉 Watch the full episode on YouTube

Question for our listeners: Do you think most Canadians are prepared for how enhanced CPP may affect retirement taxes later in life?

👉 If you’d like help building a retirement strategy tailored to your goals, we’re offering a complimentary portfolio analysis:

Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/