A short YouTube discussion (uploaded May 27, 2023 by Jayson Lowe) questioning whether common Canadian retirement savings vehicles align with retirees' needs. The speaker highlights four problems: tax treatment is uncertain at withdrawal, contribution limits constrain saving, investors lack control over investment upside/downside, and many bank investment products don't align well with retirement-income goals.
When it comes to retirement and the problem we're trying to solve, which is to have a sufficient amount of income, isn't it unusual that you would put your money into a vehicle, that when you withdraw it, you don't know where taxes are going to be? You're already controlled with how much money you can put into it. You have no control on whether that money goes up or down. If you are deciding to purchase a bank product for investing it, it doesn't really line up very real, very well.
