054 | How Canadians Should Use Their TFSA In Retirement

On episode 54 of Retirement Unpacked, Brett Martinson and Jon Kutney discuss how to utilize additional TFSA contribution room in retirement, how to incorporate dividends into your cashflow (income) wedge, DIY retirement planning software, marginal vs. average tax rates in retirement, in-kind charitable donations, and much more.

Later in the episode, Mathieu Huneault joins the show to discuss tax planning strategies for those with non-registered accounts with large unrealized capital gains. Brett and Mathieu go over how using available RRSP contribution room can help manage the tax impact of those gains.

Wealth transfer article: https://www.wealthprofessional.ca/news/industry-news/wealth-transfer-timing-why-waiting-is-the-costliest-mistake-families-make/393369

Our free decumulation 101 course: https://www.parallelwealth.com/offers/VzwEVF5b/checkout

Work with our team: https://www.parallelwealth.com/planning

Chapters

0:00 Intro
0:32 Contributing to your TFSA in retirement
4:28 Are dividends a part of your income wedge?
10:12 DIY retirement planning software
17:10 Marginal vs. average tax rate in retirement
22:51 How to calculate value of property
27:32 What does self insuring in retirement look like?
35:14 Living trusts for an adult disabled child
41:09 In-kind charitable donations
47:37 CPP splitting after a divorce
51:58 Deferring your DB pension
57:52 How do alternative investments fit into income wedge?