The Wealthy Barber Podcast #27 — Jason Heath: Financial Planning 101
Oct 7, 2025
In this conversation, Jason Heath, a leading fee-only financial planner in Canada, tackles essential aspects of personal finance. He discusses the pros and cons of different savings accounts, like RRSPs and TFSAs, and sheds light on reverse mortgages and annuities as retirement tools. Jason emphasizes the importance of deferring CPP/OAS for better income and cautions against trusting finfluencers. He also addresses estate planning pitfalls and the necessity of prioritizing financial goals while balancing saving with enjoying life. A must-listen for anyone planning their financial future!
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Annuities Can Secure Predictable Income
- Consider annuities for conservative retirees who want predictable base income and legacy control.
- Use immediate or deferred annuities to guarantee payments or replace costly trusts in some estates.
Defer CPP/OAS When The Math Favors It
- Strongly consider deferring CPP/OAS because deferral increases indexed lifetime annuity-like income.
- Run the math; deferral often beats taking immediate payments for many retirees without other pensions.
RRSPs Often Beat TFSAs For Many Canadians
- Most Canadians withdraw RRSP/RRIFs at lower tax rates than during working years, so RRSPs often beat TFSAs when choosing one account.
- Exceptions exist, but critics often overlook pre-tax contribution benefits and later lower withdrawal brackets.
