4 Steps to find your Retirement Paycheque

[@kiwest23300]

Hey Chad, thank you for sharing the best summary on YT when it comes to retirement planning!!! This short video is something that people should be looking as their roadmap. Easy to follow, very clear and absolutely necessary to know facts and advices! BIG thank you Chad!

[@ChadWiebeK4]

My pleasure :)

[@northerngal777]

Great video Chad! Love this spreadsheet for determining cash flow. Thank you so much for sharing it. Happy 2025 to you and the whole K4 team.

[@ChadWiebeK4]

Thank you and Happy 2025 to you too :)

[@satinderbank4607]

Great Spreadhsheet and content Chad. Appreciated. Wishing you great year ahead.

[@ChadWiebeK4]

Thank you! and same to you!

[@DoneByD]

Happy New Year Chad --- Interesting and well done video explaining the process you walk through. I just got done estimating our income sources and taxes for the 2025 year last week. One improvement on the spreadsheet I would suggest is getting the tax closer on the non-reg account. If you could capture the current total book cost and current market cost of the non reg account, along with the potential withdrawal amount you could calculate the 50% taxable inclusion amount. This may only be material if the withdrawal was considerable over the year but hard to judge what people think is material (accountant nature in me likes going to dollars rather than tens of dollars LOL). Other than that looks pretty good to me. I use both the websites mentioned however because EY site isn't at 2025 yet I built my own spreadsheet to calculate the tax owing and included the ability to deduct the applicable amount for pension credits... Haven't done anything yet for age credit as it isn't applicable to me quite yet.

[@ChadWiebeK4]

Thanks for the feedback @donebyd :) Yeah EY is usually faster, hopefully it's up this week

[@somanet5322]

Thank you for a well explained and useful spreadsheet for optimising retirement income. I have sent some suggestions in an email and would like to request a copy of your spreadheet please. Thanks.

[@ChadWiebeK4]

Perfect thank you :)

[@karlosm2730]

Okay, I have 20 years to find a wife so I can save on taxes.

[@DoneByD]

LOL --- Careful what you wish for --- might be cheaper overall paying a bit more in taxes ...

[@zone3slo-pitchbcsgs436]

Is it always recommended that you withdraw the max from your LIF especially when there has been growth allowing greater than max % or should you really worry about Tax brackets?

[@TracyBirds]

😂

[@ERGServices]

@@zone3slo-pitchbcsgs436 On a positive note (depending on your home province), you can transfer from your Lif to Rif a one time transfer of funds. In my case living in Ontario, you can transfer up to 50%.

[@ChadWiebeK4]

It is not 'always' but in my opinion it's 90%+. The first thing I'd look at though is if it's able to be split, so you can get as much of that money away from a government inforced maximum