There is no greater waste of money than disneyland. get a grip for gods sake .....

I cancelled my euro vacation I saved for when pandemic panic hit the market. Used the money and bought at fire sale price a balanced mutual funds. Just to say I still have that vacation budget plus a huge ear-to-ear smile. Was angry at the time, now I don't know I'd be so lucky next time.

Great ideas - Dont underestimate Tip four (Purpose). I always shrugged that one off until I entered retirement - Im still working on that one a year later

Is this 1.7 million per couple or per person? That's a scary amount for a single person. Why does everyone forget about the single people?

Michael said "Its ok to ask for help". It dawned on my it took 40 years to get good(ish) at saving and investing, I certainly don't have 40 years to figure out retirement planning. Given the importance, especially in the early years of retirement, in getting it right, Im glad I connected with Adam's team.

If you do not have a "professional" planner help you put a plan in place, just where are you getting your information from, and just how valuable is that information? Also, even if you have great basic information, is that being used to your best advantage, long term? It never hurts to get a second opinion. Great video.

Michael did our retirement plan and i must say it was a great experience. I feel so confident now that we are going to be OK in our retirement years.... You offer a great service Adam and i have learned a great deal watching you channel.

I have used these services and enjoyed receiving advise from Michael and the team at Parallel Wealth. The no nonsense advice is truly appreciated and makes retirement so much easier.

"Absolutely loved this video on '7 Things All Successful Retirees Do'! It's inspiring to learn about these key strategies that have helped so many achieve retirement success. Looking forward to incorporating these actionable tips into my own retirement planning!"

How do u know when to take your retirement money? Do u take your pension at 65 and just keep working?

Hi Adam, on the chapter headings 1,2,3 ect I would like to see the name of the Tip , like " ask for help" or " get a plan" , "network" "cash flow" , "tax planning" I love your channel ! Keep up the great work 🍻😎👍

I'm favored financially with Bitcoin ETFs approval, Thank you anna . $32,000 weekly profit regardless of how bad it gets on the economy.

I love your channel, I watch just about every video. I find watching your interview videos difficult because you don't use your professional setup for the interview, you go from high quality to low quality. You can't control your guest, but your video and audio could be the same as the rest of your content. Hook your camera and mic up to your comp for the interview. Keep the quality Thank you for the channel, love the content

Fact: 1/3 of CPP contributors do not live long enough to make it to 60. 1/3 Do not collect on it because they waited to 65 or 70 yrs to collect on it but die before recovering any money they paid into cpp. 1/3 Collect on it but not for more then 7 years on average. Then they die. 100% of all cpp payment you made during your common law union or marriage is split in half and given to the person you divorced or separated from. Govt of Canada 🇨🇦 Winner 😢🇨🇦.. Thanks for comming out any paying all your life...

lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks megan olson

Definition of high-income earner... lolz. It will help to say that if you are not a low-income earner, you are a high-income earner-there is nothing in between.

Max is 188 dollars for 2024, and the proposed amount for 2025 is 388 dollars. If it keeps on doubling, it will soon reach or surpass the standard CPP contribution.

Can you explain why living off of the TFSA is going to help you to get the full GIS amount? Is it simply becuase TFSA interest is not taxable and therefore does not count as income?

It is confusing when you say " the couple" but actualy are referring to one person

My understanding is that your TFSA goes directly to your beneficiaries, no tax. In contrast, your rrsp balance is taxable, along with whatever you leave as inheritance. Wouldn't it make more sense to use your rrsp balance first and leave your TFSA for later days? I keep hearing otherwise.

Trudeau just can't help himself. Such greed by the Liberal government.

cuz most can’t budget totally rediculous $$ numbers

Hi Adam, Pension Income tax Credit ($2,000) Question.... - If I am 65 and drawing from a RIF Account and 2 LIF Accounts’s, do I get the $2000 Pension Income tax Credit from each account ? If not, can you elaborate on how it would work ?

Retirement is man made. I learned from the word of God ….our responsibility in being given life is to make an impact before you die. I stopped working for a boss/co. At 55. I’m only 63 7.25.24 and I made a list of all the things I want to do now that I have freedom to do. It changes sometimes, & I think of new things to do all the time. Most people are lazy with no introspection and won’t do this. I’m so damn busy I have to take breaks. Praise God for this man’s wisdom and getting it out there. ❤

If I am 65 and drawing from a RIF Account and 2 LIF Accounts’s, am I eligible to get the $2000 Pension Income tax Credit from each account ?

I would add to this excellent list : 1. Don’t enter retirement with any outstanding loans ; 2. The funds for any major purchase should not come from your allowance to cover running expenses or emergencies ; 3. It is preferable to buy an RV or boat before you go into retirement, when you are still younger and more agile ; 4. Make your wish list, then prune it down to the bare minimum... when nothing more can be pruned off, you will have enough to do all you want, without the hassle and extra expense...

This video should be a wake up call for people in mutual funds. It’s an outdated product. Low fee ETFs that track the big indices are the way to go.

If you’re paying more than 1 to 1.25% annually in Canada, you’re getting hosed.

I tried retirement. Hit the wall on phase 1 and went back to work.. for me it was a sign that I was not ready. I am working on things now that will replace my day job and give my life purpose when I do finally leave for good.

Thanks for the video. Cherrs from Brasil

Hard to relate to high incomes like in this example shows.

Defer tax with a RRSP then an overspending Socialist Government will raise taxes so there is no savings and in fact you lose in more ways than one.

He says that about 60% of retirees transition to phase 4, as successful retirement. Does he have any insight as to the type of people that are likely to "fail" or succeed. White collar workers vs blue collar workers? Personality types? Married/divorced/remarried/single? Male vs female?

Most regrettable purchases 1. timeshare 2. RV 3. boat 4. cottage 5. getting bigger home / downsize too early Bonus: take CCP early (whatever CCP is)

Would be nice to see realistic incomes. Not many families make 250k a year

If you’re low income consider moving to a country where you can actually live and not just survive. And now days third world countries have as good or better medical private services than what Canada offers. And private insurance there isn’t that expensive. Canada just isn’t what it was even 20 years ago to live let alone to retire on

I bought my property in March, 2024 as a first time home buyer and used my 35k limit. But my spouse limit was not used so can I contribute now and withdraw the same after 3 months i.e. after 90 days? Thank you in advance.

I have enjoyed several jobs that I worked. However, I NEVER 'loved' any job. And I certainly never loved one enough to do it into my retirement years. Screw that noise.

Don't know about others but my investments took a substantial hit during Covid. As a result I stopped making RRSP contributions and just did TFSA. I also switched to high interest cash savings. As such my cash is now 85% of my RRSPs. That money was taxed already, so no future concerns. Ill be slow burning my RRSPs which will take me to 85. Ill take CPP at 63 at $1000/ month which will be applied to TFSA for 2 years which will maximize it before my Bridge Benefit of my pension drops. Then CPP will replace my Bridge drop. No change in lifestyle. OAS and RRSP withdrawals will be roughly an $18,000 increase of income ( before taxes) each year.

I will forever be indebted to you Mrs. Georgia Estrella. You changed my whole life, I will continue to preach your name for the world to hear. You saved me from huge financial debt with the little I had. Thank you Ms. Georgia Estrella.

My question is in this financial landscape I don't know many people who have 500k in rrsp let alone 1.8 million. This discussion is the 3% of society.

if I had 1 million in RSP and 1 million in my business investment acc... which should i withdraw first typically?

why not promote fhsa for a new video?

Subscribed…but cpp calculator what gives?

When getting closer to retirement, impact of contributions to RRSP is far less than compounding. Also RRSP melt down could trigger OAS claw back. That is a headache.

50 yoa and single in Ontario; both tfsa and rrsp contribution maxed every year for years now. Defined benefit pension available now reduced or in full at age 55. Making approximately $120k annually. My plan is to continue maxing both registered accounts until pension and not touch the rrsp until meltdown after bridge payments from pension provider with the primary focus on maxing tfsa day one of each calendar year. My debt is zero beyond mortgage at 1.86% that matures in 2025. I plan to clear that $50k mortgage balance off the books instead of renewing at a higher interest rate and doubling down on investing in tfsa and non-reg. depending on interest rates and state of the stock market. Am I correct In maxing the rrsp for the five years before retirement? When or is it worth using the $2k over-contribution one-time buffer rrsp buffer? Thank you for the presentation!

I know the numbers in this video are hypothetical. But no investment income (@15:55 of this video) in the first multiple years when the couple combined income is $250,000? To me, either the assumed numbers in this video are too unrealistic or the couple has no planning of saving at all.

What you do with the tax refund when you contribute to an RRSP needs to be factored into the equation. If you can use the refund for longterm gain, then it should be worthwhile, even if your tax bracket in retirement doesn’t change by much.

There are many articles in the financial press showing that RRSP above $800K is too much. Why? Above this you start large OAS clawbacks. So someone w $4 Million will never get OAS. At that RRSP level you are in the top 1 % of the wealth bracket or higher...which are not the viewers of this channel.

I'm constantly impressed by the well-thought-out analysis you share on these videos. Thank you very much. I'm about 4-5 years from retirement and have asked my investment advisor to create a retirement plan for me - if it's as impressive as your tool I will be a happy man!