AskTMFG The Podcast

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