In Episode 3 of Retirement Unpacked, we dig into more of your retirement questions. We look at whether it’s possible to have “too much RRSP,” why certain RRIF withdrawal strategies can cause 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 client stories and planning conversations that highlight how the right strategy can make all the difference.

Whether you’re retiring soon or already there, this episode will help you make informed decisions about your money.

Steady Hand Interview from 05:43 https://youtu.be/yPPAjsCogAc?si=FNpFbbJfqMPHurwx

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Timestamps

00:00 Disclaimer

00:16 Welcome & overview

00:38 Can you have too much RRSP?

02:59 Bad RRIF withdrawal advice from banks

04:21 Why zero-tax years can backfire

05:47 RRSPs vs. RRIFs and long-term tax costs

07:47 Withholding tax explained simply

09:07 CRA refunds and real-life examples

11:51 Will CPP or OAS move to 67?

15:22 What happens when CPP disability ends

17:37 Dividends, DRIPs, and cashflow strategies

21:22 Can you really afford it in retirement?

25:48 Line of credit vs. RRIF withdrawals advice

30:03 Conclusion