Joe tackles the psychology of retirement spending, offering actionable strategies to overcome the common fear of depleting savings. He discusses how retirees can transition from saving to spending confidently by addressing loss aversion, leveraging tools like retirement income guardrails, and aligning spending with their financial goals. Listeners will discover tips for managing cash flow, understanding their retirement income style, and creating a spending plan that ensures a fulfilling retirement without financial stress.

In this episode of Your Retirement Planning Simplified, Joe uncovers the hidden costs of retirement that often catch retirees off guard, leading to financial stress. From healthcare expenses, long-term care, and inflation to home maintenance, travel, and family support, Joe dives deep into overlooked budget items and offers actionable tips to prepare for them.

Here is our “Sleighing Your Spending” framework for the holiday season.

This week we explore the critical topic of inflation and its long-term impact on retirement planning. We define inflation, distinguish it from deflation and disinflation, and explain why prices continue to rise even when inflation rates decrease. We examine how rising costs, particularly in healthcare, can erode purchasing power over time, and why retirees need a plan that accounts for inflation-adjusted spending.

In this episode of Fireside Financial, Joe Curry and Regan Schiller share their journeys in the financial planning industry, highlighting key transitions to independent wealth management. They discuss the challenges of starting in a sales-driven culture, the benefits of prioritizing client-centric retirement planning, and the importance of independence in offering customized financial solutions.

Joe and Lindsay explore why good portfolio management can’t compensate for bad financial planning, drawing insights from FP Canada’s Financial Planning Conference and Benjamin Felix’s investment lessons. They emphasize the importance of goal-oriented financial planning over stock-picking, highlighting Warren Buffett’s advocacy for index investing as evidence. Key topics include tax-efficient strategies, retirement income styles, account optimization (RRSPs, TFSAs, CPP, OAS), and estate planning.

In this episode of Your Retirement Planning Simplified, Lindsay welcomes Red Keating, a supportive care counselor at Hospice Peterborough and co-host of the What Now? podcast, to discuss the profound importance of hospice and palliative care in Ontario. Highlighting the compassionate, holistic approach to end-of-life support, Red shares insights on caregiver support, emotional and spiritual guidance, and the significance of being present during a loved one’s final days. Listeners gain valuable knowledge on the structure and services of hospice care, the benefits of community involvement, and the variety of support groups offered for patients and their families.

Retirement signifies a shift in our personal and financial lives. As our lives shift, so do our budget and its requirements. Many struggle to envision what life after retirement will look like without their previous career. Instead of relying on a paycheck, retirees often depend on other avenues such as savings, investments, pensions, and government benefits. Creating and maintaining a solid budget becomes crucial to navigating the transition into retirement. Let's inspect the key considerations and steps of creating an effective retirement budget.

Joe sits down with Lois Tuffin from Volunteer Peterborough to explore the transformative benefits of volunteering for retirees. Lois shares inspiring stories of retirees who have found renewed purpose and fulfillment through volunteer roles in organizations like Habitat for Humanity, Elder Dog, and the Peterborough Folk Festival. Listeners are encouraged to visit Volunteer Peterborough or Volunteer Canada to discover local opportunities and make a difference in their retirement journey.

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.

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.

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.

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.

Joe and Lindsay explore the Total Return quadrant of the RISA framework(Retirement Income Style Awareness), emphasizing the importance of understanding retirement income styles.

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.

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.

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.

In Canada, understanding how capital gains are taxed is crucial. Capital gains are a critical aspect of the Canadian tax system for those with assets that have experienced capital gain or loss. We explain capital gains, how it works, and the concept of the inclusion rate, which is another key aspect of determining the amount of tax owed.

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.

Robin Powell, founder of The Evidence-Based Investor, joins Joe Curry, retirement advisor, to explore the transformative power of evidence-based investing.