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.

What are testamentary spousal trusts?

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

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.

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.

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 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.

Joe and Dr. Sally Chivers-Storey explore the dynamics of aging, retirement, and intergenerational collaboration.

We discuss seven key actions to take in the five years leading up to retirement. We want you to outline your retirement goals and cash flow requirements. Get clear on your current financial standing and bridge any gaps well in advance.

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.

We explore the top five non-money mistakes people make in retirement planning. Retirement isn’t just about financial readiness but also about finding fulfillment and direction in life post-work.

We discuss the 5 common money mistakes you might be making in retirement, including relying solely on advice from friends and family who may lack expertise in financial matters.

Dr. Daniel Crosby joins Joe 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.

Joe and Robbie Kellman Baxter break down the widespread shift towards subscription models, exploring how businesses and consumers benefit from this trend. However, the subscription landscape is saturated, and the challenge of tracking and managing numerous subscriptions is real. We highlight that the average North American's significant increase in monthly spending on consumer subscriptions.

Joe 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.

What does it mean to be fair yet unequal in estate 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.

Braden Warwick (PhD, PWL Capital) and Joe look at business owner compensation. They examine the often-debated choice between salaries and dividends.

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?

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

Joe and Regan 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.

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.