Putting Your Financial House in Order Before Divorce (Ep. 66)

March 22, 2023Finance, Financial, Investing, The Ride Podcast, The Ride: Life Work and WealthAccounts, Assets, Attorneys, Divorce, Green Private Wealth, Kris Dureau, Liabilities, Separation, Spousal Supporttheridelifeworkandwealth

When you say I do on your wedding day, the world seems wonderful. There would be no reason to think you might eventually be saying, “I don’t want to be in this marriage anymore”, but how do you financially prepare for divorce?

In this episode, Kris Dureau addresses the aspect of your financial well-being if you find yourself going through this big life transition. He explains the things you need to know regarding what you’re entitled to and where you stand in the marriage from a financial perspective.

Kris discusses:

How the emotional aspect of a divorce might blind you from the necessary steps you need to take
When you should be separating your assets and changing your liabilities
The importance of understanding your financial stance in a relationship
Ways you can start standing on your own two feet following a divorce
And more

Resources:

Getting Divorced During the Pandemic? Here are the Tips You Need to Know (Ep. 38)

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Preparing For Taxes in Retirement, Part 2 (Ep. 65)

March 8, 2023Finance, Financial, Investing, The Ride Podcast, The Ride: Life Work and WealthFinancial Advisor, financial planner, Green Private Wealth, Income Sources, Kris Dureau, Portfolio Planning, Retirement, Saving Taxes, Savings, Taxestheridelifeworkandwealth

Now that we have a basic understanding of the different sources of income in retirement, we can dive deeper into tax planning strategies. While tax strategies can be complicated at first, they eventually save you money in the long run if you plan correctly.

In this episode, Kris Dureau concludes his two part series on taxes in retirement by reviewing the three D’s of tax planning: Deduct, Divide and Defer. He offers insight into how you can create a strategic plan based on your individual situation alongside your advisor.

Kris discusses:

How retirement income planning may be complicated when first starting
The importance of working alongside an advisor or accountant when portfolio planning with tax saving strategies
The ins and outs of pension splitting
How you can use spousal loans as a strategic form of income splitting
Tax deferral through prescribed annuities
The withdrawal strategies that could minimize taxes
And more

Resources:

Preparing For Taxes in Retirement, Part 1 (Ep. 64)

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Preparing For Taxes in Retirement, Part 1 (Ep. 64)

February 22, 2023Finance, Financial, Investing, The Ride Podcast, The Ride: Life Work and WealthFinancial Advisor, financial planner, Green Private Wealth, Income Sources, Kris Dureau, Portfolio Planning, Retirement, Saving Taxes, Savings, Taxestheridelifeworkandwealth

Taxes can have a much bigger impact on your retirement planning than first assumed. It is important to take a dive into your portfolio and understand how the different sources of income in retirement, government and personal can go into your planning process.

In this episode, Kris Dureau discusses a number of ways you can understand these income sources and plan for the tax implications you might have to deal with these. Through planning ahead, you can set yourself up to retire with ease and have no fear of losing a generous amount of your assets to taxes.

Kris discusses:

Most common types of retirement income and the tax challenges they present
How you can get further in-depth advice based on your personal circumstances
Retirement income basics
The three buckets of retirement income for Canadians and how they all play into your portfolio
And more

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The End of Life Checklist (Ep. 63)

February 8, 2023Coronavirus, COVID - 19, Finance, Financial, Investing, The Ride Podcast, The Ride: Life Work and WealthChildren, Death, Divorce, End of Life, Estate Planning, Green Private Wealth, Kris Dureau, Life Changes, Marriage, Planning, Portfolio Planning, Saving, Transitions, Unexpectedtheridelifeworkandwealth

In our last episode, we sat down with the Caring Hearts Support Network to discuss all things grief and the support they made available for those people going through these tough times.

In this episode, we are going to unpack what you can do to prepare for uncertain times and what exactly should be on your end-of-life checklist. Whether you are creating your own or understanding the details of this plan for a loved one, it is important to understand where all of this information is as well as how you can use it to seamlessly transition into your next stage of life.

Kris discusses:

The importance of communicating to your family members where your will is and when was the last time you updated it
Some important life changes that should encourage you to update your will
How life insurance comes into play during someone’s death (not all life insurance policies are the same)
How you should be picking your power of attorney
The benefits of having a wealth organizer
And more

Resources:

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Let’s Talk Grief Recovery with The Caring Hearts Support Network (Ep. 62)

January 25, 2023Finance, Financial, Investing, The Ride Podcast, The Ride: Life Work and WealthChallenges, Community, Death, Grief, Group Support, Kris Dureau, Network, Outreach Program, Planning, Recovery, Retirement, Support, Three Hats Financialtheridelifeworkandwealth

Although inevitable, death is a scary topic that is sensitive to most of us. But when that dreaded time is around the corner for a loved one, wouldn’t you like to be fully supported with all the resources you may need to deal with the next steps?

In this episode, Kris Dureau is joined by The Caring Hearts Support Network, to detail their role in supporting those navigating end-of-life and bereavement. They offer support to the caregivers, the individuals, and the families at the end-of-life and throughout their grief journey. It is comforting to know that there are resources out there to help us or family members when the end may be close and we don’t have to face it alone.

The Caring Hearts Support Network Team shares:

Their experience in supporting people through their grief
The individual support they are able to provide for people based on their circumstances and how it has affected their life
Some outreach programs that can aid in your grieving process, no matter what stage you are at
How this network has connected individuals from all walks of life
And more

Resources:

caringheartssupportnetwork.com

Connect With The Caring Hearts Support Network:

Nicole Bruder
Faye Brekelmans
Joanne Stienstra
Email: info@caringheartssupportnetwork.com
Call: (519) 536-3370

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The 8 Popular Myths of Retirement (Ep. 61)

January 11, 2023Finance, Financial, Investing, The Ride Podcast, The Ride: Life Work and WealthCanada, Financial Goals, financial planning, Investments, Kris Dureau, Podcast, Retirement, Retirement Myths, Retirement Planning, Wealththeridelifeworkandwealth

There is no doubt that planning for retirement can seem like a complex process, and even thinking about it can be stressful.

Nowadays media, politicians, financial services, businesses – everyone has been talking about retirement. With so much information, it is easy to get overwhelmed. In this episode, Kris Dureau debunks eight popular myths about retirement that might be stressful to pre-retirees as they plan for their retirement.

Kris discusses:

Where and how retirement myths originate, as well as how they affect retirees
The importance of starting retirement planning at an early age.
The reasons why many people procrastinate about saving for retirement
Why retirement isn’t about having a specific amount, but about having an income that suits your lifestyle
Why you should continue to contribute to your CPP pension and old-age security
The difficulty retirees face in spending their money
And more!

Resources:

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Traveling to the USA? Here’s How It Might Affect Your Taxes (Ep. 60)

December 30, 2022Finance, Financial, Investing, The Ride Podcast, The Ride: Life Work and WealthCanada, financial planning, Income Taxes, IRS, Kris Dureau, Podcast, Retirement, Tax Planning, Taxes, Travel, USAtheridelifeworkandwealth

Many Canadians pack their suitcases as it gets colder and fly off to warmer places in the USA. While that sounds like a wonderful idea, it is important to know the tax implications of your trip.

In this episode, Kris Dureau provides a brief overview of tax-related nuances you need to keep in mind as a frequent traveler to the USA.

Kris discusses:

The importance of consulting an accountant who is experienced in cross-border taxation
How the length of your stay affects your tax situation (Substantial Presence Test)
Insights into taxation on US-sourced income
And more!

Resources:

Internal Revenue Service (IRS) Official Website

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Year-End Checklist for Your Registered Accounts (Ep. 59)

December 7, 2022Finance, Financial, Investing, The Ride Podcast, The Ride: Life Work and WealthFinancial Advisor, Green Private Wealth, Kris Dureau, Portfolio Planning, RESP, RRIF, Saving Taxes, Savings, TFSA, Three Hats Financialtheridelifeworkandwealth

Before the year comes to a close, there are a number of things you want to consider concerning your registered accounts. These include your RESP, RRSP and RRIF accounts that you might want to pay closer attention to as the year comes to an end so that you can save going into 2023.

In this episode, Kris Dureau discusses what to look out for when investing in a down market and how it can actually benefit some of your accounts depending on your current situation.

Kris explains:

What are Registered Accounts
The importance of having a TFSA
Some considerations for parents whose children just turned 15
Changes you might want to make in your portfolio prior to December 31st
How you can save on taxes this year
And more

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Big News: Merging With Green Private Wealth (Ep. 58)

November 23, 2022Finance, Financial, Investing, The Ride Podcast, The Ride: Life Work and WealthBusiness Opportunities, financial planner, Green Private Wealth, Harbourfront Wealth Management, Investments, Kris Dureau, Management Style, Merger, Portfolio Managementtheridelifeworkandwealth

Big positive changes are underway for our firm. Over the past 18 months behind the scenes, we have been working on a merger with Green Private Wealth – an award-winning firm. This merger allows us to offer our clients a more in-depth, wide array of services that can benefit them at any stage of their life.

In this episode, Kris Dureau shares this exciting shift and how the new merger with Green Private Wealth is benefitting their business in a number of different ways. With the new expansion of their team, they are able to offer new opportunities and work with more advanced business models and strategies that will ultimately benefit you and your portfolio.

Kris discusses:

The benefits clients will receive just from being a larger firm
Their focus on adapting to the rapidly changing wealth management landscape
Their new pension-style portfolio management approach and how it can help clients avoid the volatility associated with traditional portfolios
The shared company values and practices that led to the smooth merger between Three Hats Financial and Green Private Wealth
And more

Resources:

The Investments Your Portfolio Might be Missing (Ep. 41)

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The Route to Retirement During a Recession (Ep. 57)

November 9, 2022Finance, Financial, Investing, The Ride Podcast, The Ride: Life Work and WealthCashFlow, Economy, Financial Strategy, Full Retirement, Inflation, Investments, Kris Dureau, Market, Part-Time, Phased Retirement, Recession, Retirement, Retirement Planning, RRSP, Tax Planning, Three Hats Financialtheridelifeworkandwealth

Are you nearing retirement and wondering if right now is the time to step into it? During these uncertain times, having a thorough plan that incorporates market drops and recession is very crucial for your peace of mind.

However, if you have not had one of these plans done before retirement, there are still other things you can do to prepare yourself during tough times in the market. In this episode, Kris Dureau offers some tips that may ease the sting of leaving the everyday workforce.

Kris discusses:

The three choices for transitioning from a full-time job into retirement
Key tips on retiring during a recession
What to consider when deciding to work part-time during retirement
When is a good time to take the leap into retirement
And more

Resources:

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