Your Retirement Planning Simplified

Does this sound familiar ? Your advisor tells you not to worry, that you're in a good position for retirement. However, you still feel uncertain and lost about where you stand financially . The struggle to get clear answers and guidance on retirement planning can leave you feeling anxious and overwhelmed. If this resonates with you, it's time to take a different approach to retirement planning and...

Joe and Lindsay continue their explor ation of the RISA. This week we examine the Risk Wrap quadrant, focusing on balancing growth potential with income protection in retirement. We explain how Guaranteed Minimum Withdrawal Benefits (GMWB) work, allowing retirees to invest in the market with the security of a guaranteed income floor. Topics covered include variable annuities, investment strategies...

In this episode of Your Retirement Planning Simplified, Joe and Lindsay examine the Income Protection Quadrant of the RISA framework, focusing on strategies to secure guaranteed income in retirement.    They discuss the benefits of annuities, defined benefit pensions, Canada Pension Plan (CPP), and Old Age Security (OAS) to create an income floor that covers essential expenses. For retirees who pr...

Joe and Lindsay explore the Total Return quadrant of the RISA framework, emphasizing the importance of understanding retirement income styles. They discuss the Total Return strategy, which focuses on maintaining a diversified portfolio of stocks and bonds, enabling retirees to rely on market growth for sustainable income. We  highlight key characteristics of Total Return investors, along with the...

O nly 48% of Canadians have a will in place.    It's probably been on your to-do list for a long time and you're not alone. In fact, of the people who have a will, only 35% of them are up to date.    If you're feeling the stress of not having your estate planning in order, you are not alone! The stories shared by Ellie Muir, Team Lead of Partner Relations at Clear Estate, highlight the real-life c...

If you're feeling uncertain about your retirement finances and making decisions based on guesswork, then you are not alone! Many individuals nearing retirement age find themselves in a similar situation, relying on rules of thumb or hearsay rather than having a concrete plan in place. This lack of clarity can lead to stress, anxiety, and potential financial missteps, leaving you feeling unsure abo...

Joe and Lindsay discuss the importance of transparency in financial planning by sharing a recent client story. A couple came to them frustrated by their previous advisor's lack of clarity, unsure whether they could reach their retirement goals. Through our process—beginning with a strategy session and followed by a comprehensive plan—the couple clearly understood their situation, even though the n...

We answer a listener's question about balancing RRSP and RIF withdrawals in retirement while minimizing taxes. We highlight the importance of personalized planning, discussing when it makes sense to defer withdrawals for tax-deferred growth and when early withdrawals could help reduce future tax liabilities like OAS clawbacks .    Joe emphasizes that strategies like delaying CPP or OAS or adjustin...

Worried about making financial mistakes with your retirement portfolio?   Robin Powell, founder of The Evidence-Based Investor, joins Joe Curry, retirement advisor, to explore the transformative power of evidence-based investing. Robin shares his journey from journalism to becoming an advocate for passive investing, highlighting key moments such as meeting Vanguard founder Jack Bogle and uncoverin...

Joe speaks with Wade Pfau, a leading expert in retirement income planning. They explore the evolving landscape of retirement strategies, focusing on understanding personal retirement income styles using the RISA (Retirement Income Style Awareness Profile) framework. Wade highlights the significance of aligning strategies with individual comfort levels, discussing approaches like total returns, tim...

Joe sits down with Dr. Brian Portnoy to explore the concept of "funded contentment," a revolutionary approach to financial well-being that transcends traditional views of wealth. They delve into the psychological and emotional aspects of retirement planning, emphasizing the importance of aligning financial decisions with personal values. Brian introduces his f amework of the four Cs—connection, co...

Joe and Regan discuss lesser-known aspects of retirement planning, focusing on unexpected expenses, psychological adjustments, and the impact of inflation. They highlight overlooked costs like home maintenance, supporting adult children, and healthcare, while also addressing the importance of planning for unplanned opportunities. The conversation delves into the emotional shifts in retirement, off...

We dive into actionable strategies to help you save more money in retirement. From pension income splitting and maximizing tax credits to optimizing RRIF withdrawals and deferring government benefits, we break down key steps to reduce your tax burden and stretch your savings.    Read the full show notes and find more information here:   EP 104 Show Notes

We look at the pitfalls of complex investment strategies and emphasize the benefits of keeping things simple. They discuss the importance of trusting market principles, practicing smart diversification, and avoiding performance chasing. With insights from a recent article by Sam Sivarajan on the Canada Pension Plan's investment performance, they highlight how adhering to evidence-based investment...

We discuss the pitfalls of relying on market forecasts and expert predictions during times of market volatility. Emphasizing the inaccuracies of financial forecasts and the psychological tendency to seek out such predictions, they advocate for a disciplined, evidence-based investment approach. Listeners are advised to stick to their pre-planned strategies, diversify globally, and rebalance portfol...

T his episode explores the nuances of selecting an advisor beyond proximity, emphasizing the importance of virtual collaboration, comprehensive planning, and evidence-based investment philosophies. Joe also highlights the value of specialized advice, the pitfalls of advisor diversification, and the necessity of transparent, ongoing communication with your financial team. Whether you're nearing ret...

Joe and Regan explain why personalized planning is crucial for a secure and enjoyable retirement.    They debunk myths , offer actionable advice, and equip their audience with the tools to make informed financial decisions. Whether it's re-evaluating the role of RRSPs, determining the right time to take CPP, or balancing investment portfolios, this episode is a must-listen for anyone seeking to op...

It's episode 100!    Joe speaks with Dr. Hal Hershfield , the author of "Your Future Self: How to Make Tomorrow Better Today". They discuss the idea that our future selves can often feel like different people rather than an extension of our current selves.    This concept has significant implications for retirement planning and living a fulfilling life beyond just financial independence. Hal expla...

Have you heard these retirement myths? The 4% rule is the only safe withdrawal rate, asset allocation doesn't matter in retirement, and setting a fixed withdrawal rate is the best strategy. But is it true?     In this episode , Joe speaks with Bill Bengen , a seasoned financial advisor who is widely recognized for his pivotal role in introducing the 4% rule for retirement planning. With a rich bac...

We examine the essential aspects of estate planning, focusing on creating a comprehensive will. We also examine choosing the right executor, whether a family member or a professional service, highlighting three key scenarios to consider.   We discuss the importance of including digital assets in your will and the benefits of secondary wills for business owners to avoid probate fees on business sha...

In this podcast episode, host Joseph interviews cybersecurity expert Scott, who discusses the critical importance of cybersecurity, especially in protecting financial assets. Scott explains the various types of cybercriminals, including organized crime groups, nation-state actors, and lone wolf attackers, and highlights common methods they use, such as ransomware and social engineering scams. He e...

In this episode of "Your Retirement Plan Simplified," we delve into the topic of cryptocurrency and its place in a retiree's investment portfolio. We give a layman's definition of cryptocurrency, discuss its appeal due to decentralization, security, global accessibility, and investment potential, but also highlight its extreme volatility and lack of predictable returns.    Joe explains that while...

In this podcast, Joe and Regan look at having an emergency fund in retirement. They discuss how setting aside three to six months' worth of expenses can provide peace of mind and financial security, protecting retirees from unexpected expenses without needing to dip into investments or accrue high-interest debt.    They highlight that an emergency fund should be kept in a highly liquid and low-ris...

Are you feeling frustrated by the difficulty of understanding investment strategies ? F eeling uncertain about which approach to take ?   Imagine spending years trying to navigate the complexities of active management, only to discover that it may not be the most effective approach. The struggle to decipher the impact of dividends on investment returns and the challenge of understanding market eff...

We examine an aspect of retirement planning—building an emergency fund. Whether you're nearing retirement or already enjoying it, we provide insightful strategies to assess your financial needs, determine the right size for your emergency fund, and effectively build and manage it. Learn about essential expenses, potential emergencies, and smart ways to boost your fund using supplemental income, ho...