Afleveringen
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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 processâbeginning with a strategy session and followed by a comprehensive planâthe couple clearly understood their situation, even though the news wasn't exactly what they wanted to hear. Ultimately, the key takeaway is that honest, actionable advice empowers clients to make informed decisions and stay on track toward their goals.
Read the full show notes and find more information here: EP 109 Show Notes
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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 adjusting withdrawal timing depend on individual goals, income sources, and estate considerations, stressing that no single approach fits all situations.
Read the full show notes and find more information here: Ep 108 Show Notes
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Zijn er afleveringen die ontbreken?
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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 uncovering the overwhelming evidence supporting long-term, low-cost strategies for portfolio management. Together, they discuss the misconceptions surrounding traditional investment advice, the importance of staying patient, and the actual value that financial advisors provide beyond stock-pickingâfocusing on personal goals, estate, and tax planning.
Read the full show notes and find more information here: Ep 107 Show Notes
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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, time segmentation, and income protection. They also touch on behavioral pitfalls and the role of advisors versus a DIY approach, providing listeners with practical insights to tailor their retirement planning.
Read the full show notes and find more information here: Ep 106 Show Notes
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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 famework of the four Csâconnection, control, competence, and contextâoffering practical insights to help listeners overcome cognitive biases, simplify their finances, and find purpose in retirement.
Read the full show notes and find more information here: EP 105 Show Notes
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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, offering advice on staying socially connected, revisiting past hobbies, and navigating changes in daily routines.
Read the full show notes and find more information here: EP 17 Show Notes
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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
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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 principles can lead to more reliable returns and a more secure retirement. Tune in to learn how to maximize your investment returns without unnecessary complexity.
Read the full show notes and find more information here: Ep 103 Show Notes
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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 portfolios regularly, rather than reacting emotionally to market noise. The episode underscores the importance of critical thinking and focusing on long-term financial goals.
Read the full show notes and find more information here: EP 102 Show Notes
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This 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 retirement or planning your financial future, this episode has insights to guide you toward financial security.
Read the full show notes and find more information here: Ep 101 Show Notes
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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 optimize their retirement strategy.
Read the full show notes and find more information here: EP 16 Show Notes
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Itâs episode 100!
Joe speaks with Dr. Hal Hershfield, the author of âYour Future Self: How to Make Tomorrow Better Todayâ. 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 explains that recognizing and building a relationship with our future selves can help us make better decisions today, such as saving money, taking care of our health, and reducing procrastination.
Read the full show notes and find more information here: Ep 100 Show Notes
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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 background spanning over three decades, Bengen's profound research has significantly influenced the approach to safe withdrawal rates and asset allocation strategies in retirement planning. His expertise extends beyond conventional wisdom, delving into the intricate details of portfolio management and the significance of maintaining a balanced investment approach.
Read the full show notes and find more information here: EP 99 Show Notes
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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 shares. We also remind listeners to review and update their estate plans regularly to ensure they remain current and effective.
Read the full show notes and find more information here: Ep 98 Show Notes
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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 emphasizes the importance of multi-factor authentication and cautious email practices as fundamental security measures to safeguard personal and financial information.
Read the full show notes and find more information here: Ep 97 Show Notes
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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 traditional investments like stocks and bonds offer future cash flows, cryptocurrencies rely solely on supply and demand, making them unsuitable for retirees focused on preserving capital and ensuring reliable income. Ultimately, they advise against significant investment in cryptocurrency for retirees, favoring more stable, predictable assets.
Read the full show notes and find more information here: EP 96 Show Notes
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In this podcast, Joe and Regan look at having an emergency fund in retirement. They discuss how setting aside three to six monthsâ 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-risk account, such as a savings account, to ensure it is readily accessible when needed. The discussion also covers the potential benefits of having a line of credit as an additional backup, especially when markets are down, or large, unforeseen expenses arise.
Read the full show notes and find more information here: EP 15 Show Notes
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Are you feeling frustrated by the difficulty of understanding investment strategies? Feeling 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 efficiency theory can leave you feeling overwhelmed and disheartened. It's time to cut through the confusion and gain clarity on evidence-based investing strategies. Let Joe and Mark guide you through index funds and learn to make informed decisions confidently.
Read the full show notes and find more information here: Ep 95 Show Notes
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We examine an aspect of retirement planningâbuilding 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, home equity lines of credit, and more.
Read the full show notes and find more information here: Ep 94 Show Notes
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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 reducing taxable income. Additionally, it underscores the long-term benefits of RRSPs, which grow tax-free and can offer significant tax savings, making them a crucial element in retirement planning for business owners.
Read the full show notes and find more information here: EP 93 Show Notes
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