The Wealthy Barber Podcast #20 — Adam Bornn: Retirement Planning For Canadians
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Jul 1, 2025 In this conversation, financial expert Adam Bornn, Founder of Parallel Wealth, shares his deep insights on Canadian retirement planning. He introduces the "Go-Go, Slow-Go, and No-Go" phases of retirement, emphasizing the necessity of having a financial plan. Listeners learn about RRSP meltdowns, tax strategies, and whether it's really essential to have a million dollars saved. Adam also discusses the benefits of delaying CPP, reverse mortgages, and the overlooked importance of generational wealth.
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Retirement Income Strategy Matters
- Strategize your retirement income rather than just taking minimum withdrawals from your RIF.
- Proper planning can save tens or even hundreds of thousands of dollars in taxes.
Phases of Retirement Spending
- Retirement spending unfolds in phases: the go-go, slow-go, and no-go phases.
- Spending tends to be highest in the early retirement (go-go) phase and declines in later years.
RRSP Meltdown Optimizes Taxes
- Conduct an RRSP meltdown by drawing down registered accounts more aggressively before starting CPP or OAS.
- This helps maintain a consistent average tax rate throughout retirement and reduces tax burdens.
