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Joe and Lindsay conclude their RISA framework series with a look at the final quadrant: time segmentation. It is also known as the "bucket strategy" in retirement planning. Joe explains how this approach divides retirement assets into short-term, mid-term, and long-term buckets, allowing for a balanced retirement income strategy. Retirees can reduce anxiety from market fluctuations by segmenting assets while still achieving growth over time. Joe and Lindsay also discuss the pros and cons of the bucket strategy compared to the total return approach and suggest listeners take the RISA assessment to determine their best retirement income style.
Read the full show notes and find more information here: EP 114 Show Notes
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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 seek the clarity you genuinely deserve.
Dive into a candid conversation between Joe Curry and Regan Schiller, two seasoned retirement planners as they unravel the unspoken complexities of retirement planning.
Read the full show notes and find more information here: Ep 19 Show Notes
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Joe and Lindsay continue their exploration 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, and the pros and cons of GMWBs. Listeners can learn more about retirement income styles and access their personalized RISA assessment for better retirement planning.
Read the full show notes and find more information here: Ep 113 Show Notes
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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 prioritize safety over growth, this approach minimizes uncertainty, making it ideal for those seeking financial security in volatile markets. Learn how to implement this strategy and optimize your retirement income plan for peace of mind.
Read the full show notes and find more information here: Ep 112 Show Notes
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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 strategy's pros and cons, providing actionable insights for listeners to assess their retirement planning approaches.
Read the full show notes and find more information here: EP 111 Show Notes
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Only 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 consequences of not revisiting your estate plan and the strain it can put on family relationships. It's time to ensure your legacy is protected and your family is set up for success.
Read the full show notes and find more information here: EP 110 Show Notes
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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 about your retirement future.
Joe and Regan discuss the top 10 reasons to create a sold retirement plan so that you can navigate this critical phase of life with confidence.
Read the full show notes and find more information here: Ep 18 Show Notes
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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 process—beginning with a strategy session and followed by a comprehensive plan—the 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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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
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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 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
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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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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 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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