Planning for a 30-year retirement is fundamentally different from planning for a 15-year retirement, and the consequences of getting it wrong are felt not in your 60s, but in your 80s and 90s, when your options are most limited.

Deferring your CPP to age 70 can mean tens of thousands of dollars more in guaranteed, inflation-protected income over your retirement. For the right person, it is one of the highest-returning, lowest-risk financial decisions available.

If your net income in retirement exceeds $93,454 (2025), the CRA begins quietly taking back your Old Age Security benefit dollar by dollar. For many affluent Ontarians, this clawback can reduce or entirely eliminate a benefit you've been entitled to your entire working life.

The RRSP tax trap is this: every dollar you've sheltered in your RRSP will eventually be taxed as ordinary income when it comes out. And for those with large balances, $500,000, $1 million, or more, the tax hit can be enormous.

Most retirees draw from their accounts out of habit or convenience, without realizing that the order and source of withdrawals has an enormous impact on their lifetime tax bill, OAS entitlement, and the wealth they ultimately leave to their families.