20 Ways To Increase Your Retirement Cashflow In 20 Minutes

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Hi, I’m Hervin, a certified financial planner, and in this video, I’ll share 20 powerful strategies to help you increase your cash flow in retirement—without needing to save or invest more money. Whether you’re just starting to plan or are already retired, these tips will help you make the most of your retirement income.

Here’s what we’ll cover:

Burn the 4% Rule: Why sticking to this outdated rule could leave you with more money than you’ll ever need—and less to spend in retirement.

Create a Custom Withdrawal Plan: Tailor your retirement spending to match your lifestyle, not some arbitrary rule.

Ignore Common Advice: Why you should rethink popular advice like Dave Ramsey's, and instead, seek specialized retirement income planning.

Get a Tax Planner: Collaborate with a CPA and a financial planner to create a multi-year tax plan that maximizes your cash flow.

Defer CPP and OAS: Increase your guaranteed income by delaying these benefits, and learn how to optimize your retirement strategy.

Embrace Equities: Don’t let inflation eat away at your savings—learn how to allocate your investments to outpace inflation and secure your future.

Maximize Your RRSP Match: Get the most out of your employer’s retirement benefits without needing to save more.

Utilize Employer Benefits: From extended health benefits to travel insurance, maximize what your employer or union offers.

Consider Multi-Trip Travel Insurance: Protect yourself while traveling by locking in lower premiums before you retire.

Work Longer (If It Brings You Joy): Consider working an extra year or two to enhance your retirement income, but don’t sacrifice your early retirement years.

Get Comfortable with Tapping Capital: Understand when it’s okay to draw down your savings, instead of just living off interest or dividends.

Create an Estate Plan: Define your legacy and determine how much you want to leave for your loved ones—then spend the rest freely.

Downsize Your Home: Reduce your housing costs and free up capital to increase your retirement income.

Explore Reverse Mortgages: Learn when a reverse mortgage might make sense for you.

Prepay Big Purchases: Remove the strain on your retirement portfolio by paying for large items before you retire.

Finance Wisely: Consider financing big purchases instead of drawing down large sums from your savings, especially if it affects your tax bracket.

Monetize Hobbies: Turn your retirement passions into income—whether it’s chartering a boat, woodworking, or starting a YouTube channel.

Maximize Your TFSA: Take full advantage of the Tax-Free Savings Account to increase your cash flow without affecting your government benefits.

Consider Annuities: Secure a portion of your retirement income with an annuity and reduce your exposure to market fluctuations.

Rent Out Your Home: Earn extra income by renting out part of your home, whether it’s a basement suite or through short-term rentals like Airbnb.

Whether you’re looking to enhance your retirement lifestyle or just want to make sure your money lasts, these 20 tips will help you increase your cash flow and enjoy a more comfortable retirement.

Resources Mentioned:

Free videos and resources on creating custom withdrawal plans

Tools to help you defer CPP and OAS

Links to find a certified fee-for-service retirement income planner near you

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Disclaimer: The content in this video is for informational purposes only and does not constitute financial, legal, or tax advice. Always consult with a certified financial planner, tax professional, or legal advisor before making any financial decisions. The strategies mentioned in this video may not be suitable for everyone, and individual circumstances should be considered.