Planning for Retirement in Canada: Your Questions Answered (with Adam Bornn)

Retirement planning can feel overwhelming—how much do you really need? What's the best way to withdraw from your savings? And what happens if the markets take a downturn right as you stop working? These are real concerns for Canadians, and in this episode, we tackle them head-on.

I’m joined by Adam Bornn from Parallel Wealth, one of the most trusted voices in Canadian retirement planning on YouTube. Together, we answer real questions submitted by viewers of my YouTube series, Second Act, covering everything from how to start a retirement plan to managing cash flow, tax efficiency, and withdrawal strategies. Whether you’re just beginning to think about retirement or looking for expert insights on optimizing your income, this episode is packed with valuable takeaways.

What We Cover in This Episode:

• How to start building a retirement plan from scratch
• The importance of having a vision for retirement beyond just the financials
• Different withdrawal strategies, including managing income-producing ETFs
• Why tax efficiency is crucial in the decumulation phase
• Common mistakes retirees make when it comes to CPP, OAS, and RSP withdrawals
• How to structure your income for predictable cash flow in retirement
• The impact of sequence of returns and how to mitigate risk
• Planning for major expenses like vehicles, home repairs, and long-term care
• Why reviewing and adjusting your plan regularly is essential

Listener Questions Answered:

• How do you plan for cash flow when using income-producing ETFs?
• What's the best withdrawal strategy for an RRSP?
• How do you manage a TFSA used as an emergency fund?
• How does retirement planning differ for couples, especially when one spouse passes away?
• How often should you review and adjust your retirement plan?

Resources & Links:

• Parallel Wealth YouTube Channel
• Beavis Wealth YouTube Channel – Second Act Retirement Series
• CPP Calculator by PWL Capital

If you found this episode helpful, don’t forget to subscribe, leave a review, and share it with someone who could benefit from better retirement planning!