Your Retirement Planning Simplified

Joe and Aravind explore the merits of contributing to the Canada Pension Plan (CPP) through salaries. Despite the dual contributions required from business owners, the CPP offers guaranteed, inflation-adjusted income in retirement, providing a secure financial foundation.    The discussion highlights the tax credits and deductions associated with CPP contributions, emphasizing their value in reduc...

Joe chats with Mark McGrath (CFP, CIM, CLU , PWL Capital Inc) about the intricacies of Canadian equity segregated funds, unpacking their features, benefits, and potential drawbacks.    While discussing the investment options within segregated funds, they underscore the importance of considering alternatives like low-cost index funds or ETFs, particularly for investors seeking to optimize returns w...

Joe and Regan explore the myriad benefits of engaging in part-time work or starting a side hustle during retirement. They discuss how supplemental income alleviates financial stress and supports lifestyle desires such as travel.    Beyond the financial perks, they delve into the non-monetary advantages, including social engagement, mental stimulation, and a renewed sense of purpose. Through person...

Joe speaks with tax professional Kaz Nesbitt (CPA , CA, Partner at Grant Thornton LLP ) , and they delve into the proposed capital gains inclusion rate changes .    Joe and Kaz unpack the intricacies of capital gains taxation, clarifying how these changes could affect individuals and businesses.    Read the full show notes and find more information here: EP 91 Show Notes  

This week we look at crucial considerations surrounding beneficiaries . From dissecting the implications of naming beneficiaries on assets like RRSPs, pension plans, and non-registered accounts to shedding light on the strategic use of life insurance, this insightful discussion offers invaluable insights for listeners navigating their estate planning journey.    Read the full show notes and find m...

This week Joe takes a deep dive into the world of personalized financial advising, where clients are more than just numbers on a spreadsheet. Using a compelling client story, we explore the importance of understanding your unique financial situation .    From estate planning intricacies to navigating complex beneficiary considerations, Joe offers practical insights and expert advice to empower you...

What are testamentary spousal trusts ?   We break down the complexities of this legal arrangement established by wills to benefit surviving spouses. From defining what a spousal trust entails to exploring its various purposes, including asset protection, wealth transfer, and safeguarding against potential remarriages or incapacity, we have practical examples and considerations for choosing trustee...

In this episode, Joe and Regan navigate through the various income streams available in retirement, including pension plans, government benefits like CPP and OAS, investment portfolios, annuities, and even rental income.    The y emphasize the importance of intentional decision-making, stressing the need for individuals to assess their expenses, maintain emergency funds, optimize taxes, and consid...

The sandwich generation - where individuals find themselves caught between supporting aging parents and adult children. Several areas require careful balancing including financial planning, healthcare coordination, and legal and estate planning to navigate the challenges of caregiving effectively.    Emphasizing open communication and setting clear boundaries, we discuss strategies for promoting f...

Here are the 8 common mistakes retirees and retirement savers make with their Tax-Free Savings Accounts (TFSA). We cover mistakes like over-contributing, misunderstanding withdrawal rules, day trading within the TFSA, and not naming a successor holder or beneficiary.    We provide a ctionable advice to help you avoid these common pitfalls and help you implement sound strategies so you can optimize...

We look at the various types of debt retirees might carry and the profound impact they can have on your financial well-being. You'll gain an understanding of how mortgages, lines of credit, car loans, and credit card debt can shape your retirement lifestyles and long-term financial goals.    We emphasize the importance of integrating debt reduction strategies into retirement planning, providing ac...

Joe and Dr. Sally Chivers -Storey explore the dynamics of aging, retirement, and intergenerational collaboration.    They delve into the complexities of navigating workplace tensions arising from different generational perspectives and caregiving responsibilities. Dr. Chivers emphasizes the importance of valuing the wisdom and experiences of older adults, challenging ageist beliefs, and fostering...

We discuss seven key actions to take in the five years leading up to retirement. We want you to get clear on retirement goals and cash flow requirements . We advise you to get clear on your current financial standing and bridge any gaps well in advance.    We look at the importance of creating a shared vision for retirement, understanding future income sources, optimizing taxes, and conducting a c...

This month Joe and Regan dive into how to educat e grandchildren about money . They use real-life examples like grocery shopping and budgeting exercises. They look at how grandparents can make meaningful contribut ions , such as gifting money with a purpose, like for a car or post-secondary education while instilling lessons about financial responsibility.   By engaging in open conversations and s...

We explore the top five non-money mistakes in retirement planning. We look at how retirement is n' t just about financial readiness but also about finding fulfillment and direction in life post-career.    We look at the significance of social engagement, staying physically active, maintaining a growth mindset, and transitioning from a savings to a spending mindset in retirement.    Read the full s...

In this podcast episode, hosts Joe Curry and Lindsay Wilson discuss common mistakes in retirement planning, cautioning against relying solely on advice from friends and family who may lack expertise in financial matters. They emphasize the importance of seeking professional guidance tailored to one's unique situation, highlighting scenarios such as CPP payment timing and asset allocation during ma...

In this podcast, Dr. Daniel Crosby joins Joseph to discuss the impact of behavioral biases on retirement planning. They delve into overconfidence as a key bias, emphasizing its role in risk-taking behavior and decision-making. Dr. Crosby advises automating financial processes and seeking professional guidance to bridge the behavior gap. The conversation also previews Dr. Crosby's upcoming book, "S...

In this engaging podcast discussion, the speaker delves into the widespread shift towards subscription models, exploring how businesses and consumers alike benefit from this trend. The conversation underscores the convenience for consumers and improved cash flow management for companies, emphasizing the seamless experience subscriptions offer. However, as the subscription landscape becomes increas...

H osts Joseph and Regan examine how to handle inheritances. With the landscape of wealth transfer evolving rapidly, receiving an inheritance is not just a stroke of luck but a strategic element in financial planning.    They caution against hasty decisions and stress the importance of taking the time to assess goals and intentions before embarking on any major financial moves. Through real-life ex...

What does it mean to be fair yet unequal in estate planning ?    Explore how differing financial needs, family contributions, and the complexities of sibling relationships impact retirement planning. Discover actionable insights, from using life insurance to equalize asset distribution to fostering open communication to minimize family disputes. Join Joe and Lindsay's conversation on navigating fa...

Braden Warwick (PhD, PWL Capital) and Joe look at business owner compensation . They examine the often-debated choice between salaries and dividends.    Braden, a financial planning product architect at PWL, shares insights from a comprehensive study he conducted on optimal business owner compensation . They explore variables like provincial residency, corporate revenue, and the dynamics of notion...

This week we answer a listener question about defined benefit pension plans : I know not a lot of people have defined benefit plans, but everyone keeps talking about needing $1M-$2M at retirement. How would a defined benefit pension get valued , and does the amount needed at retirement include government programs?   We break down the components of retirement income, including government programs l...

New York Times Author Dan Solin joins Jo e to discuss common misconceptions, essential factors for retirement planning, and the evolving retirement landscape. Dan emphasizes the impact of emotions on investment decisions and provides valuable advice on asset allocation and dealing with market volatility.    Additionally, they touch on the challenges millennials face in buying homes and the importa...

We know estate planning is daunting.   But i t's essential to a ddress it ahead of time, to ensure that all your wishes are laid out to eliminate potential conflict . We give you valuable tips on evaluating your current financial standing, considering future scenarios, and understanding the nuances of trusts and specific gifts.     We also touch on the option of providing financial support to fami...

Fritz Gilbert , the award -winning author of the blog "The Retirement Manifesto" joins Joe to share his unconventional yet successful approach to retirement planning.    He emphasizes the importance of not fixating on the financial aspects of retirement but embracing the non-financial elements, such as relationships and purpose, that impact a smooth transition into retirement.    Read the full sho...