5 Intelligent Retirement Strategies: Insights from Adam Bornn on Expenditures, CPP, Taxation & Beyond [Podcast]

🎙️ New Podcast Episode: 5 Intelligent Retirement Lessons with Adam Bornn

Are you feeling unsure about your retirement strategy? You’re not alone — and this week’s Dividend Guy Podcast episode is full of insights to empower you to retire with assurance and understanding.

Certified Financial Planner and YouTube retirement expert Adam Bornn from Parallel Wealth joins Mike and Vero for Part 2 of a thought-provoking discussion on what intelligent retirees do differently. The episode delves into how to alleviate financial worry, sidestep common mistakes, and design a retirement lifestyle that you steer — rather than one dictated by fear.

🎧 Listen now | 📩 Subscribe to the podcast

Adam’s Essential 5 Retirement Lessons You Can’t Miss

1. Retirement Planning is 90% Mindset, 10% Finances
Most retirees find it challenging to figure out spending rather than saving. Anxiety often hinders people during their most active retirement years. The answer? Create a clear, sustainable financial blueprint that illustrates what’s achievable—so you can relish life now, not later.

2. Retirees Frequently Don’t Spend Enough
The “Go-Go” years (typically 60–75) are when you’re at your healthiest and most energetic. Not spending adequately during this phase often results in regret later. A more effective strategy? Implement a “laddered” income approach—spend more early in retirement when you can fully enjoy it, and gradually reduce spending later.

3. Claiming CPP and OAS Too Soon
The average Canadian begins receiving Canada Pension Plan (CPP) benefits at age 62—but postponing until 70 can result in a guaranteed 8.4% annual growth. With careful planning (e.g., tapping into other cash or RSPs first), you might lower taxes and enhance your long-term income.

4. No Tax Strategy = Increased Taxes Later
Many retirees postpone withdrawals from their registered accounts to evade early taxes but end up with significant invoices later in life. Instead, level out your lifetime tax rate by drawing strategically from your RRSPs, TFSAs, and other accounts. Strategic planning can save you tens or even hundreds of thousands of dollars.

5. Being Overly Cautious Can Backfire
Reacting emotionally to market fluctuations often causes retirees to switch to all-cash or GIC portfolios. However, that short-term “safety” can equate to long-term losses due to inflation and taxes. A more balanced approach? Use a “cash wedge” to cover immediate needs while allowing your investments to appreciate.

💬 Adam sums it up: “Markets are what brought you here to begin with. Don’t let fear hinder your future growth.”

🟡 Bonus: Key Takeaways from the Live Q&A

– Keep average tax rates consistent throughout retirement to avoid surprises.
– Inquire about your advisor’s compensation—this can reveal potential conflicts of interest.
– Be cautious of high-fee investments unless you fully grasp the strategy or product.

📌 About Adam Bornn

Adam is a Certified Financial Planner and the founder of Parallel Wealth Financial Group. He assists Canadians in making informed retirement choices with practical examples on his well-regarded YouTube channel (100,000+ subscribers). Watch his valuable financial advice:

▶️ Parallel Wealth on YouTube

🎓 Join the Free Webinar: 6 Retirement Enhancements

Mike is conducting a complimentary, information-packed session addressing the six essential questions retirees pose, including:

1. Do I have enough to retire?
2. How can I lower investment fees?
3. What’s the most effective way to decrease my taxes?
4. Can I spend more now and remain financially secure?
5. What occurs if the market crashes?
6. How will I know I’m on the right track?

📅 Thursday, May 22 at 1:00 PM ET

📝 Register now: retirementloop.ca/webinar
🎁 Includes:

– Complete replay (even if you miss the live session)
– Live handouts & planning resources
– An hour of live Q&A featuring 100% Canadian content (limited to 500 live attendees)

💡 Whether you’re nearing retirement or are already enjoying it, Mike will guide you through strategic enhancements that provide peace of mind and better outcomes.

📚 Related Content You’ll Appreciate:

– How Mike Would Invest $1M at Retirement — and how he prepares for a spouse with a different investing approach: 🎧 Listen Now
– The 4 Budgets of Retirement — Spend with assurance through every stage of retirement life: 📘 Read the Full Guide

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📝 This episode is sponsored by Dividend Stocks Rock — your resource for creating a retirement-friendly dividend portfolio.