u/Final_Emergency3930

With so many planners promoting aggressive RRIF meltdowns to avoid that tax bomb at death I ran some scenarios with 1M RRIF 200k TFSA for a couple age 70, 4% returns, 2% CPI, 70% survivor spend rate, avg CPP/OAS of 38k, 60k spend rate

For each age range xx/yy where xx/yy=lifespan of each spouse, I filled the lowest (BC) 19.6% tax bracket for each spouse (conservative and the 31% bracket (115k) aggressive

Age 85/85 Estate was about the same within 5% after taxes ~1.3M

Age 75/85 Again estate within 5% after taxes ~1.3M

Age 95/95 Estate higher by ~10% with the conservative meltdown and lower with aggressive ~1.7M/1.5M

Conclusion: Unless you both die early it doesn't make much difference if you choose aggressive or conservative. If either expects a long life then go conservative because paying less front end taxes provides a larger RRIF for more growth

On Oct 2 I asked them to withdraw 3500 and withhold 3450 for taxes to avoid installments next year. They only withheld 10% or 350. Can they correct this? If not can I send the extra 3100 to CRA now. What name do I use on the bill payment? The choices are: CRA - tax return or tax amount owing or tax installment (I am not on installments)

Edit: I am retired

What would I enter into Investment assumption fields if my portfolio consisted of GIC's averaging 4% and and non-reg or TFSA balances were invested at 3.5%. ie: no dividends or cap gains. Also I noticed TFSA is funded with excess cash even if TFSA funding is set to off.

For those retired with a healthy RRIF, pension or other portfolio do you splurge on J class? It's getting fairly expensive at ~ 12k for a couple to Asia. We did it in 2025 and it was wonderful but I can't say it was worth another 10k even if we could afford it.

2 of our kids ares fairly wealthy and do not need anything from us. The 3rd is just getting by.

How can we allocate more the him without hurting the other 2?

Edit: Thanks everyone for your replies. They have been very helpful

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How to construct a gic bond strip bond ladder and portfolio that gives me 71k/yr from a 1M RRIF given GIC paying 4% for 1 to 5 years and bonds paying 3.8% 6-9 years and strips paying 4.4% 10-20 years.

Edit: payout timeframe is 20 years

Looking at buying a Tesla (2022ish model Y) but the insurance is ~$1000 more than other EV's like the Bolt, Ioniq 5...). Quote for the Bolt/Ioniq5 was ~1400 2M, 500 deductible, no claims over 10 years. Quote for 2022 model Y or 3 was ~2400. Approx same diff with BCAA or ICBC

What gives?

Looking at buying a Tesla (2022ish model Y) but the insurance is ~$1000 more than other EV's like the Bolt, Ioniq 5...). Quote for the Bolt was ~1400 2M, 500 deductible, no claims over 10 years. Quote for 2022 model Y or 3 was ~2400. Approx same diff with BCAA or ICBC

What gives?

Looking at buying a Tesla (2022ish model Y) but the insurance is ~$1000 more than other EV's like the Bolt, Ioniq 5...). Quote for the Bolt was ~1400 2M, 500 deductible, no claims over 10 years. Quote for 2022 model Y or 3 was ~2400. Approx same diff with BCAA or ICBC

What gives?

Phone is worth ~$1100 How do they give it to me for 6.63/mo? Do I have to lock into a monthly plan? It's not clear what the deal is.

https://www.koodomobile.com/en/phones/google-pixel-10?INTCMP=KMNew_HPLatestandGreatest_Device1_Pixel%252010_Mar2023

Been retired quite a few years (age 70ish) but we have not needed to spend much beyond CPP/OAS of around 45k. Our fixed expenses are only 18k (prop tax, food, utilities, maintenance,phones, internet). We usually take a vacation of 4-6wks/yr usually somewhere with a LCOL. Both have fulfilling hobbies and outside interests that don't cost much. Fairly new EV and house is in good shape so no major expenses in the foreseeable future.

While it's nice to have a decent RRIF/TFSA of over 1M I just can't see us ever spending it other than for emergencies or end of life care or to mainatin a similair income for the survivor.

Since the water restriction prohibit this what method can one use to clean their car?

Doesn't seem to use enough water, after 10 mins into norm cycle clothes are soaked but there is no visible water in the tub (1/2 a load) . Uses more water for the rinses, more soaked looking but still no visible standing water in the bottom of the tub. Is this normal? Rinse only used 5-7 gals of water

Every day there's a new youtube on how to optimize your RRIF meltdown strategy to avoid the dreaded 53-54% income tax on estate. No one knows when they'll die so it just a guess and if you live too long you risk running out of money if you meltdown too soon.

Yet no one seems to care of the money lost if you pass on before you get the full benefit of your DB pension.

Went in to buy some sirloin on sale for $8.88 and noticed a can of Tuna was $5 and can of tomatoes was $4. This is 2 to 5x more than Superstore, Walmart. Why do people pay these prices?

I'm now going to a new hygienist because their equipment seems better and they offer a 15% discount to seniors. In the past my dentist would do a quick checkup right after his hygienist finished and only charged a small fee of ~25.

Can I reply on a hygienist to do a basic checkup or should I get a separate appt at my dentist every 6 mos ?