From the Reader bench · Worked examples

The questions Canadian households are actually asking.

Archetype

The DIY engineer

British Columbia · age 52

"I have $740k in RRSPs and $190k in TFSA. Can I retire at 58 if I defer CPP to 70?"

Avery · Planner responded

Yes — at your savings rate, 58 is feasible with a 12% margin. Deferring CPP to 70 lifts the safe withdrawal rate from 3.9% to 4.3% because the inflation-indexed CPP floor lets the portfolio carry less of the load. Run the bear-market stress at −35% to verify; we keep the plan solvent to 92.

Outcome

Locked in retire-at-58 target, deferred CPP to 70 in the plan, set up an FHSA for a downsize property.

Archetype

The dual-income household

Ontario · age 38 + 41

"We have two kids (4 and 7). How do we split $1,800/mo between FHSA, RESP, and our RRSPs?"

Quinn · Goals Planner responded

Front-load RESP at $416/mo per child to capture the full $500/yr CESG match (free money). $400/mo into FHSAs (each spouse, $200/mo) to build the $40k cap over five years. Remainder $568/mo into RRSPs at the higher-earner's marginal rate. Tax refund redirects to TFSAs.

Outcome

Captured $1,000/yr CESG match they were leaving on the table. Cut tax bill ~$3,800/yr via RRSP split.

Archetype

The pre-retiree

Alberta · age 64

"My pension starts next year. How do I draw RRSP → RRIF without triggering OAS clawback?"

Sam · Tax desk responded

Convert RRSP to RRIF at 65 (one year early) to qualify for pension-income splitting + the $2,000 federal pension credit. Cap RRIF + DB pension + CPP at $90,997 combined to stay below OAS Recovery Tax threshold. Meltdown $18k/yr from non-reg first to fill the bracket.

Outcome

Avoided $1,420/yr in OAS clawback for the first 3 years of retirement.

Archetype

The newcomer

Quebec · age 34

"I moved from France 4 years ago. What's the right order: FHSA, RRSP, or TFSA?"

Avery · Planner responded

FHSA first if you plan to buy a home within 15 years — $8k/yr cap, deductible like RRSP, withdrawal tax-free. Then TFSA (no income test, max flexibility). RRSP only after you're in the 30%+ combined bracket. Quebec has additional QPIP + RREGOP overlays we factor in.

Outcome

Started FHSA with $8k contribution, redirected $200/mo from RRSP to TFSA pending a planned home purchase.

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