What Retirement Looks Like with a $2 Million Portfolio in Canada

Comments · 203

• PE

  @peek117 · 5 months ago

  Excellent video Thank you !

• BO

  @bobromphf9644 · 5 months ago

  This was an excellent video and I teach a retirement class.

  5

• US

  @user-od9iz9cv1w · 5 months ago

  I suggest an alternate strategy.  With a 2m retirement, you have a large RRSP.  Postpone CPP and OAS until 70.  Draw down RRSP during those first  five years to your target tax rate.  This way forced RIF withdrawals are less likely to drive you into OAS claw back.  CPP/OAS are indexed to inflation.  The delay bumps up the payout and it's inflation resistant.  I also think there is merit in keeping super conservative investments.  You don't need the income, but certainly don't want a portfolio crash.  Continue to invest in TFSAs.  Keep it as a tax free buffer account.  You may never need it.  So you can use it as the place for growth investments.  It is long term.  If it does well, it doesn't get taxed.  If it takes a hit, just leave it to recover.  And live below your means.  Have fun with travel and hobbies.  The urge to travel may evaporate.  After strenuous global travel for work, I am happy to stay home and tend my gardens and cook.  Unused investments are a great hedge against healthcare costs.  If you end up leaving a lot, you can pass it on to a great cause.  The peace of mind is incredible.

  64

• YO

  @youvereachedkyle · 5 months ago

  This was a great video 🙏🏾

• CA

  @CanadianFinanceWithKolbe · 3 months ago

  amazing video with amazinng points

• CO

  @ColdHardToronto · 5 months ago

  Love the illustrations

  1

• CO

  @ColdHardToronto · 5 months ago

  <a href="https://www.youtube.com/watch?v=1fR4rhHRRss&amp;t=560">9:20</a> &nbsp;Kraft Dinner in a carton. &nbsp;Great idea

  4

• SH

  @shatz72 · 5 months ago (edited)

  Lots to think about…excellent presentation and messaging. &nbsp;👏 The TFSA is anyone’s retirement friend.

  10

• HE

  @Hello-k8e5w · 5 months ago (edited)

  Plus Cpp and oas is great 👍, I’m ok, government money is pocket money for the month and yup 👍

  2

• TU

  @turntablesrockmyworld9315 · 11 days ago

  My parents have 1 db pension and a small defined contribution plan just a few hundred monthly.Paid off mortgage.They &nbsp;were reasonable in lifestyle,saved and &nbsp;only invested in &nbsp;canada savings bonds,GICs, and one mutual fund.They are close &nbsp;1.8 million and in their &nbsp;late 80sare &nbsp;not even worried &nbsp;about &nbsp;a crash. I am &nbsp;though, as &nbsp;it is &nbsp;my inheritance (part &nbsp;of &nbsp;it!)

• AI

  @aimyr.8692 · 5 months ago

  I love the maple leaf scarf! 🍁Graphics are chef’s kiss 🤌

  4

• JE

  @jeffgaskell3705 · 5 months ago

  You identified costs for a couple, like food and healthcare, but identified income for a single person, ie CPP and OAS. &nbsp;A couple should have higher income e than you identified, also higher allowance before OAS clawback.