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Who We Serve — Approaching Retirement

The ten years before retirement
are the most important of
your financial life.

If you're within a decade of retirement in Alberta, the decisions you make right now will shape everything — how much income you have, how much tax you pay, and how long your money lasts. This is exactly the window where expert, fee-only advice pays for itself many times over.

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Everything you need to check off before you retire — CPP, RRSP, OAS, and more.
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Approaching Retirement Planning Edmonton Alberta
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Not sure what you should be doing right now?

Tell us the year you plan to stop working and see the decisions that belong to your phase — in the order they need making.

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You've Worked Hard. Now Let's Protect It.

Retirement planning for Albertans who are almost there.

You've spent decades building your career — in engineering, oil and gas, construction, healthcare, education, or running your own business. You've contributed to your RRSP, maybe you have a pension, and you've watched your savings grow. Now retirement is on the horizon, and suddenly the questions feel bigger and more urgent than ever.

When exactly should you start CPP? Should you take it at 60, 65, or 70 — and how much does that choice actually matter? How do you convert your RRSP to a RRIF without triggering a massive tax bill in the first few years? Which accounts do you draw from first? How do you protect yourself from OAS clawback? Will your portfolio survive a market downturn right when you need it most?

These are not small questions. The right answers — specific to your situation — can easily mean the difference of hundreds of thousands of dollars over your retirement lifetime. That's where Joanne David CFP® FCSI comes in.

What We Help You With

✓  CPP Timing Strategy The actuarial breakeven analysis specific to your health, income, and tax situation — not a generic "wait until 70" answer.
✓  RRSP to RRIF Conversion Planning Minimize lifetime taxes by planning your drawdown well before the mandatory age-71 conversion.
✓  Tax-Efficient Income Sequencing Which registered and non-registered accounts to draw from first, and in what order, to keep taxes as low as possible throughout retirement.
✓  OAS Clawback Avoidance Strategic income management to keep you below the clawback threshold — worth up to $9,000+ per year.
✓  Pension Income Splitting If you or your spouse has pension income, proper splitting can dramatically reduce your combined tax burden.
✓  Defined Benefit Pension Decisions Lump sum vs. monthly payment, survivor benefit options, and indexing considerations.
✓  Portfolio De-Risking Structuring your investments to weather a downturn in your early retirement years without derailing your plan.
✓  Healthcare & Long-Term Care Planning Realistic projections for healthcare expenses, and strategies to fund them without depleting your estate.
✓  Estate Planning Review Updating beneficiary designations, wills, and powers of attorney to reflect your retirement reality.
✓  CPP & OAS Optimization for Couples Coordinating both partners' benefits to maximize household income and minimize combined taxes.

Why Fee-Only Matters Here More Than Anywhere

When you're approaching retirement, you may have significant assets — and that makes you a very attractive client to commission-based advisors. The products they recommend will often serve their income more than your retirement. A fee-only advisor like Joanne has no financial interest in what you invest in. She is paid directly by you for advice, and nothing else. That alignment matters enormously when the stakes are this high.

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You're Not Alone in This

What clients approaching retirement tell us.

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"I don't know when to take CPP."

Most people default to 65 without running the numbers. The right answer depends on your health, other income sources, and tax situation — and it's rarely the same for everyone.

CPP at 60, 65 or 70 →
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"I'm worried my money won't last."

A well-structured retirement income plan — drawing from the right accounts in the right order — can dramatically extend how long your portfolio lasts and reduce taxes along the way.

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"I have no idea what to do with my RRSP."

Many Albertans face significant RRSP balances that, if left unconverted without a plan, can create massive tax bills at age 71 — or worse, after death. We help you plan the drawdown years in advance.

The RRSP drawdown, explained →
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"I just want someone to tell me if I'm on track."

That's exactly what a free exploratory call is for. Bring your questions. We'll give you an honest assessment — no pressure, no sales pitch, just a straight answer.

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"Do I take the pension or the commuted value?"

For many Alberta engineers and trades professionals this is the single largest financial decision of their life — and usually a permanent one. It deserves modelling against your own numbers, health and other income, not a rule of thumb.

When this decision comes up →
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"My accountant and my advisor have never spoken."

One files your return, the other picks your investments, and the decision that costs the most — how you draw your income and what tax it triggers — sits between the two. I do both, so the plan and the tax bill are built together.

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"I've saved for thirty years. I don't know how to start spending it."

Saving becomes a habit, and switching it off is harder than people expect. A plan that shows what you can safely spend — and which account it comes from each year — replaces guesswork with permission.

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"I have money in my corporation and no idea how to get it out."

Salary, dividends, retained earnings and the timing between them decide how much of that money you keep. It is also the decision most often left until the year of the sale, when the options have already narrowed.

The Business Owner Exit Plan →
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"What happens to my spouse if something happens to me?"

Survivor benefits, pension elections and how registered accounts transfer are all decided long before they are needed — and often by default rather than on purpose.

Common Questions

Frequently asked questions.

When is the best time to start CPP in Alberta?

There is no single right answer — it depends on your health, other income sources, tax situation, and whether you have a spouse. Taking CPP at 60 versus 70 can mean a difference of hundreds of thousands of dollars over your lifetime. We run a full actuarial breakeven analysis specific to your circumstances before making any recommendation.

How do I avoid a large tax bill when converting my RRSP to a RRIF?

The key is planning your RRSP drawdown well before the mandatory age-71 conversion — ideally starting in your early 60s. By drawing down strategically in lower-income years, you can spread the tax hit across multiple years at lower marginal rates rather than creating a large forced withdrawal at 71. This kind of planning can save tens of thousands of dollars in lifetime taxes.

How much money do I actually need to retire comfortably in Alberta?

The "you need $1 million" rule of thumb is too simplistic — it ignores your CPP, OAS, any pension income, your actual spending needs, and your tax situation. The right number is specific to you. We build a detailed retirement income projection that shows exactly what you need, where it comes from, and how long it lasts under different scenarios.

What is OAS clawback and how do I avoid it?

OAS clawback — officially called the OAS Recovery Tax — reduces your Old Age Security payments when your net income exceeds a threshold (approximately $90,000 in 2025). For every dollar above the threshold, you repay 15 cents of OAS. Strategic income management — including RRSP drawdown timing, TFSA use, and pension income splitting — can keep you below the threshold and protect up to $9,000+ per year in OAS benefits.

Our Commitment to You

"We have no incentive to sell you anything. Our only job is to give you the best advice we can."

As fee-only planners, you pay us directly for advice. We earn nothing from the products you buy — every recommendation is genuinely in your best interest. No commissions. No conflicts. Just the advice you deserve.

Ready to see if your retirement plan holds up?

Book a free 20-minute exploratory call with Joanne — no pressure, no jargon, just honest answers.

Book Your Free Call