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-picking—focusing on personal goals, estate, and tax planning. 

Read the full show notes and find more information here: Ep 107 Show Notes

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

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

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

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

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 

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-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

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

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, home equity lines of credit, and more. 

Read the full show notes and find more information here: Ep 94 Show Notes

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

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 while minimizing fees.  

The episode equips listeners with valuable knowledge to make informed financial decisions tailored to their needs by providing insights into the nuances of segregated funds and alternative investment strategies. 

Read the full show notes and find more information here: 

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 personal anecdotes and client stories, they highlight how even a small commitment to part-time work can enhance retirees' quality of life by keeping them active, engaged, and contributing to their communities.  

Read the full show notes and find more information here: EP 14 Show Notes

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 Cs—connection, control, competence, and context—offering 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

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 more information here: EP 90 Show Notes

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 on your financial journey. Discover how personalized financial advising can make all the difference in securing your financial future. 

Read the full show notes and find more information here:  EP 89 Show Notes

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 trustees and managing assets. 

This episode offers listeners a comprehensive understanding of testamentary spousal trusts and their role in ensuring families' financial security and peace of mind. 

Read the full show notes and find more information at EP 88 Show Notes.

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.  

They emphasize the importance of intentional decision-making, stressing the need for individuals to assess their expenses, maintain emergency funds, optimize taxes, and consider their net worth goals to ensure financial stability throughout retirement. 

Read the full show notes and find more information here: FF EP 13 Show Notes

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 financial literacy, encouraging education and career development, and preparing for life transitions. 

Read the full show notes and find more information here: EP 87 Show Notes

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 actionable advice to help you avoid these common pitfalls and help you implement sound strategies so you can optimize the benefits of your TFSA for long-term financial security. 

Read the full show notes and find more information here: EP 86 Show Notes

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 actionable insights such as debt consolidation, refinancing, and accelerated payments. 

Read the full show notes and find more information here:  EP 85 Show Notes

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 intergenerational spaces where individuals of all ages can learn from each other and contribute meaningfully to society.  

Read the full show notes and find more information here: EP 84 Show Notes

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 cash flow audit to eliminate unnecessary subscriptions. We also stress the importance of maximizing employer benefits and gradually shifting towards a retirement-appropriate investment portfolio to ensure a smooth transition into retirement.  

Read the full show notes and find more information here: EP 83 Show Notes

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

This month Joe and Regan dive into how to educate grandchildren about money. They use real-life examples like grocery shopping and budgeting exercises. They look at how grandparents can make meaningful contributions, 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 setting positive examples, grandparents can play a crucial role in shaping their grandchildren's financial literacy and long-term financial well-being. 

Read the full show notes and find more information here: EP 12 Show Notes

We explore the top five non-money mistakes in retirement planning. We look at how retirement isn'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 show notes and find more information here: EP 82 Show Notes

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 market downturns. 

The hosts stress the necessity of comprehensive planning, including considerations of retirement income sources, tax strategies, risk management, and estate planning. They advocate for conducting a "dress rehearsal" for retirement expenses and budgeting for potential cost increases in future projects or expenses, underscoring the multifaceted nature of retirement preparation and the need for careful analysis and professional assistance. 

Read the full show notes and find more information here: EP 81 Show Notes

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, "Soul of Wealth," which explores 50 essays on mind, money, and meaning, offering valuable insights for those navigating the psychological challenges of retirement. 

Read the full show notes and find more information here: EP 80 Show Notes

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 increasingly saturated, the challenge of tracking and managing numerous subscriptions arises, prompting the speaker to highlight the average American's significant monthly spending on consumer subscriptions. The discussion touches on the subtle tactics some companies use to make canceling subscriptions cumbersome, shedding light on the importance of values alignment, simplicity in offerings, and transparent communication in fostering successful and long-lasting subscription relationships. The speaker offers practical advice for consumers, urging them to assess their subscriptions for alignment with values, consider annual plans for potential savings, and be mindful of the ease of cancellation. 

Read the full show notes and find more information here: EP 79 Show Notes

Hosts 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 examples, such as a client who strategically maximized her tax-free savings accounts and diversified her assets after receiving an inheritance, the hosts highlight the significance of thoughtful planning in ensuring long-term financial security.

Read the full show notes and find more information here: EP 11 Show Notes

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 family dynamics and creating a personalized, transparent estate plan for a smooth and equitable transition into retirement. 

Read the full show notes and find more information here: EP 78 Show Notes

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 notional accounts, unraveling the considerations that go into determining the most advantageous compensation strategy for business owners. of personal and corporate finance. 

Read the full show notes and find more information here: EP 77 Show Notes

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 like the Canada Pension Plan and Old Age Security, guiding listeners on how to assess their unique financial situation to arrive at an ideal portfolio value for a comfortable retirement. We encourage you to shift your focus from generic averages to a personalized approach in determining retirement needs.  

Read the full show notes and find more information here: EP 76 Show Notes

New York Times Author Dan Solin joins Joe 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 importance of financial literacy. Dan's upcoming book, "Wealthier: A Field Guide to Financial Freedom," is tailored for millennials. Listeners can find more information on wealthierbook.com. Don't miss out on this valuable financial wisdom! 

Read the full show notes and find more information here: EP 75 Show Notes

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 know estate planning is daunting.  But it's essential to address 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 family members before passing away, stressing the importance of ensuring financial independence. With real-life examples and a practical framework, we give you actionable advice and encourage you to take proactive steps to secure your family's financial future through thoughtful estate planning. 

Read the full show notes and find more information here: EP 10 Show Notes

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 show notes and find more information here: EP 74 Show Notes

David Blanchett, a renowned financial expert, delves into the multifaceted world of retirement. From annuities, longevity risk, and alternative assets, you will gain valuable insights that challenge conventional wisdom.  

From the nuances of portfolio construction to the impact of inflation on retirement savings, Blanchett provides actionable advice, helping listeners navigate the complexities of securing a comfortable and sustainable retirement. 

Read the full show notes and find more information here: EP 73 Show Notes

Joe welcomes Matt Holmes (CPA, Director at Holmes CPAs & Tax Advisors) to the show. They take a deep dive into the often-overlooked realm of succession planning. Joe and Matt share a poignant case where the absence of a contingency plan resulted in a less-than-optimal sale for the family due to the owner's passing.  

They provide invaluable insights into the strategic considerations and pitfalls that entrepreneurs should be aware of, making it an essential listen for anyone navigating the complexities of selling or transitioning their business. 

Read the full show notes and find more information here:  EP 72 Show Notes

Joe welcomes back business expert David C Barnett to delve into the intricate process of selling a business for retirement. 

This insightful episode provides valuable insights for business owners contemplating a sale. Joe and David emphasize the necessity of strategic planning, documentation, and the cultivation of a marketable business before embarking on the selling process.  

Barnett's practical examples and emphasis on due diligence offer a roadmap for prospective sellers, highlighting the intricate details that can significantly impact the successful sale of a business. 

Read the full show notes and find more information here: EP 71 Show Notes

Welcome to "Your Retirement Planning Simplified," where hosts Joseph Curry and Lindsay Wilson demystify the complexities of retirement with their down-to-earth approach. In this latest episode, the dynamic duo kicks off 2024 with enthusiasm, celebrating the podcast's growth over the past year and reflecting on their mission to make retirement planning approachable for everyone. With over 16,000 downloads and counting, Joseph and Lindsay share their journey of helping people overcome the initial embarrassment or hesitation often associated with seeking financial advice. They emphasize the importance of taking action, drawing parallels with Joseph's insightful egg story, highlighting that true understanding comes from applying knowledge to one's unique situation. 

Read the full show notes and find more information here: EP 70 Show Notes

Joe and Regan examine estate planning essentials. They emphasize the significance of having an up-to-date will and stress the importance of clear communication within families.  

They also look at the often-overlooked aspect of digital assets, urging listeners to document and share information on online accounts to ensure easy management by their executors.  

They advocate for open conversations with family members about estate planning decisions. If you've been thinking about estate planning, this is an excellent how-to episode. 

Read the full show notes and find more information here: EP 9 Show Notes

It's our 2023 wrap-up of Retirement Planning Simplified featuring the best episodes and insights from 2023!  

We highlight our most popular episodes, including discussions on safe withdrawal rates, effective investment strategies, achieving purposeful retirement, and the impact of taxes on single seniors.  

This episode is a great guide for both new and seasoned listeners, offering the best of Your Retirement Planning Simplified.  

Read the full show notes and find more information here: EP 69 Show Notes

David Barnett joins Joe to share valuable insights on the common pitfalls business owners face when preparing to retire and sell their businesses.  

Discover the key areas to focus on for enhancing business value, from reducing customer concentration risks to navigating the challenges of owner dependence.  

Whether you're a business owner weighing retirement, or an entrepreneur interested in the art of business sales, this episode provides expert advice to ensure a smooth transition and a fulfilling retirement life after being your own boss.  

Read the full show notes and find more information here: EP 68 Show Notes

Joe speaks with Kate Wilson, Associate Advisor at Matthews + Associates, about an essential topic of estate planning: preplanning and prepaying for your funeral.  

Kate stresses the importance of thoughtful consideration of one's end-of-life wishes, encouraging you to document your preferences and keep them alongside your estate planning documents. While the topic may not be the most lighthearted, Joe and Kate offer practical insights, aiming to empower listeners to make informed decisions about their final arrangements. 

Read the full show notes and find more information here:  EP 67 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 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

In this podcast episode, host Joseph welcomes Gary Poyer to discuss retirement planning from a unique perspective that goes beyond financial considerations. Gary, the author of "Make Retiring Easy," emphasizes the importance of uncovering the potential in retirement to lead a fulfilling life. He highlights the seven principles of his Philosophy of Retirement, encouraging individuals to approach retirement intentionally and consider the broader aspects of their lives beyond just financial stability. Gary emphasizes the need for a personalized retirement plan that addresses values, purpose, and opportunities, ultimately guiding listeners towards a more enriching and purposeful retirement. 

Read the full show notes and find more information here:  EP 66 Show Notes

Joe and Regan look at managing anxiety around market volatility, particularly for individuals nearing or already in retirement.  

They address retirees' concerns who want immediate income from their investments but experience anxiety from the unpredictability of market fluctuations.  

Joe urges listeners to break down their portfolios into distinct buckets aligned with different phases of retirement. Regan reinforces the significance of revisiting risk tolerance and maintaining a diversified portfolio. Stick to a good retirement plan, backed by strategies designed to weather market storms. 

Read the full show notes and find more informtion here: EP 8 Show Notes

We look at what people talk about when they talk about risk. We explore the different facets of risk associated with stock market investments. Joe breaks down the nuances of systematic and unsystematic risks, unraveling the uncertainty that often accompanies market fluctuations. With insights into diversification strategies and the importance of understanding various risk types, we equip listeners with the knowledge to navigate retirement planning with confidence.  

Read the full show notes and find more information here: EP 65 Show Notes

Joe welcomes Nick Mombourquette (CFP) from NewGround Financial Inc. With NewGround Financial Inc., Nick guides entrepreneurs and for-impact leaders.  

Discover the keys to financial freedom as Joe and Nick delve into the intricacies of retirement planning, employee benefits, and business growth. With a focus on staying organized, having a solid process, and planning ahead, they provide actionable insights and a roadmap to navigate the challenges of business ownership.  

Read the full show notes and find more information here: EP 64 Show Notes