Unexpected healthcare costs can be one of the biggest expenses a retiree can face. Similar to how we cannot predict how long we are going to live, we cannot predict when an accident is going to happen. So, how do we prepare financially for the risk of healthcare expenses? In this episode, I will be sharing how to understand and plan for potentially growing medical costs.

Clients often ask me how to know when they have enough money set aside to take all risk off the table in their investments. Unfortunately, there is no easy answer. You cannot take risk off the table, as inflation is constantly happening. However, there are ways to minimize your risk. So, in this episode, I will be sharing the steps you can take to lower your susceptibility to inflation risk and more.

In the previous two episodes, we have covered the sequence of return risk (which talks about why having a retirement projection is not really a plan), as well as longevity risk (which is the ability to accurately save for the length of the rest of your life). Today we’re talking about the risk of being too conservative, also sometimes referred to as asset allocation risk, and how to allocate your assets in a way that will allow you to have a successful retirement.

Many people tend to underestimate how long they will live, therefore underestimating how much money they will require for retirement. And although there is no way to know for sure how long you’re going to live, there are measures you can put in place to ensure you do not outlive your money. So, in this episode, I will be sharing how to calculate how much you will need for retirement so that you can live out your life stress-free.

Today we will be discussing one of the biggest factors to consider when transitioning and saving for retirement: sequence of return risk. This is the risk that comes from the order in which your investment returns occur. In other words, the sequence of return risk is the potential that the market declines at the beginning of your retirement, significantly reducing the longevity of your portfolio. So, how do we prepare for this? That is precisely what I will be going over in this episode.

Whether you have an employer or you are working for yourself, making the transition into retirement means getting paid is going to be very different from what you are used to. As you are no longer getting regular paychecks, you have to completely rethink how you are getting your income. So, how do you create that paycheck when you’re no longer going to work? In this episode, I will be explaining the different potential income sources you can utilize in retirement, as well as how you can tap into them.

If you’re in the lead-up to your retirement, there are many steps you can take to ensure you’re setting yourself up for a relaxing and comfortable retirement. One topic that often gets overlooked when it comes to retirement savings is pension splitting.

Every year in Canada, millions of dollars in tax credits (and deductions) go unclaimed. However, with the right preparation and knowledge, you can avoid leaving your dollars on the table.

When planning for financial freedom in your retirement years, there is one topic you cannot forget about: taxes. How much you will owe in taxes during your retirement really depends on how your retirement income is generated, as well as the amount of your retirement income.

Welcome to Your Retirement Planning Simplified, the podcast dedicated to answering your burning questions about retirement possibilities and how to get there. Join your host, Joseph Curry, CFP, as he shares education, resources, and expert interviews geared toward helping you get clear on your retirement vision.