Category Archives: Financial

Episode 25 – Your 10-Step Pre-Retirement Checklist



One of the reasons why retirement is such a major life decision is timing. If you retire too early, you might have financial trouble. If you retire too late, you might not have the energy to enjoy it to the fullest. 

So, when is it the right time to retire? 

To help you decide, Kris Dureau walks you through his 10-step pre-retirement checklist. This list will help shed light on the different financial, health, and planning considerations you need to be aware of as you approach your next stage of life. 

In this episode, you will learn:

  • Why you need to choose the type of retirement you want to live 
  • How a cash flow plan, emergency funds, and health insurance can help you improve your retirement needs 
  • How retirees and pre-retirees can approach debt 
  • Benefits of changing your accumulation portfolio to a retirement income portfolio
  • And more!

Tune in today and discover how you can better navigate the path of retirement planning!

Resources:  Episode 6 – Why Everybody Needs a Will | Episode 15 – How to Retire Well (Part 1)Episode 16 – How to Retire Well (Part 2)  | Three Hats Financial  | Kris Dureau | Retirement Shift Worksheet | Cashflow Spreadsheet


Episode 24 -The Real State of Ontario’s 2021 Real Estate Market – With Krystal Lee Moore



Southwestern Ontarians, are you on the lookout for real estate deals, but don’t know how and where to start from?

If so, this episode is for you!

Today, Royal LePage Triland Realty’s Krystal Lee Moore joins Kris Dureau to explore the ins and outs of Ontario’s 2021 real estate market. All this to guide, support, and help you reach your ultimate real estate goals!

In this episode, you will learn:

  • Low-interest rates, COVID-19, and working from home: Factors that contribute to the current real estate market  
  • Why you might want to add extra value to your home 
  • The best times of the year to sell in Ontario 
  • The truth about first homes 
  • And more!

Listen today and find out everything you need to know about home values in our weak economic market!

Resources: Three Hats Financial  | Kris Dureau | Royal LePage Triland Realty, Brokerage | Krystal Lee Moore | Instagram | Facebook  | Soar on Amazon


Episode 23 – Spring Clean Your Finances With These 6 Steps



With spring upon us, now is the perfect time to do some financial closet-cleaning.

Are you ready to get started?

Join Kris Dureau in this episode as he guides you through your financial spring cleaning with six simple steps that will help you get your finances organized and ready for the coming seasons.

In this episode, you will learn:

  • The benefits of a financial filing system 
  • Why you should always review your investments and rebalance your portfolio
  • Which insurance policies you should be checking on
  • How to verify your credit score 
  • And more!

Listen in and start sprucing up your financial picture today!  

Resources:  Three Hats Financial  | Kris Dureau | Resources: Cashflow Spreadsheet | Equifax | TransUnion


Episode 22 – Enhance Your Online Security with These Cybersecurity Tips – With Guest Chuck Yeung



Considering the current COVID-19 environment, working, shopping, socializing, and finding entertainment are only a couple of things we can do from the comfort of our homes.  

But, to what extent is our online identity and information really protected? 

In this episode, Kris Dureau sits down with Cystech Solutions’ Chuck Yeung. Today, Chuck discusses must-know cybersecurity tips so that you can protect yourself, your family, and your business when it comes to online privacy, information, and identity.

In this episode, you will learn:

  • Why you should change your passwords every six months 
  • The role of password manager platforms when it comes to the dark web 
  • Easy ways to detect a phishing scam 
  • The importance of setting up a two-step authentication 
  • Chuck’s take on how cybercriminals operate when it comes to a ransom 
  • And more!

Listen today and find out the do’s and don’ts when it comes to protecting your identity online! 

Resources: Three Hats Financial  | Kris Dureau | Chuck Yeung  | Cystech Solutions


Episode 21 – Tax Tips for Small Business Owners — With Peter Simpson



It’s never too early to start thinking about your tax planning, especially if you’re a business owner! 

In this episode, Kris Dureau welcomes back Simpson and Associates’ Peter Simpson. Kris and Peter discuss important tax tips for business owners and self-employed individuals and share strategies for making positive, practical changes to your tax picture.

In this episode, you will learn:

  • How to claim work-from-home tax deductions 
  • When business owners should start thinking about putting money into their RRSP
  • The right time to incorporate a business 
  • Benefits of an HST number 
  • And more!

Listen today to discover tax tips and strategies that can help small business owners maximize their tax planning!

Resources:   Episode 19: 2020 Year-End Tax Planning Tips | Three Hats Financial  | Kris Dureau | Simpson and Associates | Peter Simpson 


Episode 20 – Everything You Need To Know About Critical Illness Coverage



Critical illness coverage is a long-term insurance policy that covers serious illnesses such as cancer, heart attacks, coronary artery bypass surgery, and more. 

In this episode, Kris Dureau discusses everything you need to know about this type of coverage and explains how its financial component can help you alleviate the toll of a health condition.

In this episode, you will learn:

  • How critical illness coverage works 
  • About the claiming process 
  • How previous family health conditions can impact your coverage premium 
  • The conditions you need to meet to get your coverage premium back 
  • And more!

Tune in now and discover how critical illness coverage can help you protect your finances and health! 

Resources:   Three Hats Financial  | Resources | Kris Dureau | (888) 442-4218


Episode 19 – 2020 Year-End Tax Planning Tips – With Peter Simpson



While tax planning is often a year-round affair, the year-end season is a particularly optimal time to review your taxes with your trusted financial professional.

In this episode, Kris Dureau sits down with Simpson & Associates’ Peter Simpson to discuss the value of year-end tax planning. Together, they discuss popular year-end tax planning strategies that could help you make the most of your taxes before the new year hits.

In this episode, you will learn:

  • Tax credits and deductions that you might be able to claim
  • How to claim the Home Office Employment tax credit 
  • Why Tax-Free Savings Accounts (TFSA) are helpful investment vehicles 
  • The tax-related benefits of a Registered Education Savings Plan (RESP)
  • And more!

Tune in today and find out which tax strategies could work for you and your year-end planning!

Resources:  Three Hats Financial  | Kris Dureau | Simpson & Associates | Peter Simpson 

 


Episode 18 – How Baby Boomers can Prepare their Business for Sale – With Ryan Parkinson



As a business owner, you have put creativity, sweat, worries, and energy into creating and growing your business. 

When the time comes to reap the rewards of your hard work and to sell your business, what should you think about before putting up that “for sale” sign?

To find out, Kris Dureau welcomes Ryan Parkinson for today’s episode. Together, they discuss different areas of exit planning you need to be aware of when selling your business and the steps you should take to prepare for the big sale.

In this episode, you will learn:

  • How far in advance you should start preparing to sell your business
  • Why financial statements are helpful when buying and selling a business 
  • How to get a proper business valuation 
  • Dealing with customers and staff during the selling process 
  • And more!

Listen now to discover the financial and psychological factors you need to consider when selling your business!

Resources:  Three Hats Financial  | Kris Dureau | Grant Thornton | Ryan Parkinson 


Episode 17 – Is Now the Time to Refinance or Buy a Second Property? – With Derek Gold



COVID-19 is just one of the many reasons why interest rates are at historically low rates.  

With rates so low, should you be considering refinancing your home or purchasing a second property?

In this episode, Kris Dureau welcomes Mortgage Scout’s Derek Gold to discuss this and more. Together, they explore the current interest rate environment and answer questions you might have about refinancing and buying a second property. 

In this episode, you will learn:

  • The difference between a variable and a fixed mortgage rate 
  • Pros and cons of shorter and longer amortization periods
  • Getting a mortgage when you’re self-employed or retired 
  • How a good credit score affects your mortgage 
  • And more!

Tune in today to learn everything you need to know before refinancing your home or purchasing that second home!   

Resources: Three Hats Financial  | Kris Dureau | Mortgage Scout | Derek Gold 


Episode 16 – How to Retire Well — Part 2



It’s no secret that when it comes to preparing for retirement, one major question pre-retirees are asking is, “Will I have enough to retire?”

In part two of his miniseries on retiring well, Kris Dureau reveals how you can find out the answer to this question. He highlights three financial areas to consider when assessing your retirement-related finances, assets, and benefits so that you can achieve the retirement lifestyle you’ve always desired.

In this episode, you will learn:

  • The difference between discretionary and non-discretionary expenses
  • How to plan for your retirement cash flow
  • Why you should create a debt inventory — and how to do it
  • How creating three financial buckets can help your portfolio in retirement 
  • And more!

Tune in now to discover actionable tips for preparing your finances to retire well!

Resources:  How to Retire Well – Part 1 | Three Hats Financial  | Cash flow Spreadsheet | Retirement Shift Worksheet