Category: Investing
CPP 2.0: Everything You Need To Know About The Changes To CPP in 2024 (Ep. 76)

CPP 2.0: Everything You Need To Know About The Changes To CPP in 2024 (Ep. 76)

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Welcome to The Ride: Life Work and Wealth podcast, brought to you by Green Private Wealth, where we empower you to optimize your financial journey. Today’s episode delves into the changes that were made to the Canada Pension Plan in 2024 and what you need to know about them.

Key Points Covered:

  • Overview of CPP: Discussing the framework of CPP and how it works.
  • Changes to CPP: Exploring the changes happening this year and how they may impact you.
  • Financial Planning: How will this change your CPP benefit in retirement?

Benefits for Listeners:

  • Gain insights into how the Canada Pension Plan works along with the recent changes in 2024.
  • Learn how the changes may impact your CPP payments in retirement.

We invite you to share your thoughts, questions, and personal experiences regarding retirement regrets and strategies for a fulfilling retirement. Connect with us on Facebook, LinkedIn, or visit our website, GreenPrivateWealth.com, to continue the conversation.

Don’t miss out on optimizing your retirement journey. Subscribe to the Ride: Life Work and Wealth podcast on iTunes or Spotify for more financial insights.

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Retirement Regrets: Avoiding Common Pitfalls (Ep. 75)

Retirement Regrets: Avoiding Common Pitfalls (Ep. 75)

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Welcome to The Ride: Life Work and Wealth podcast, brought to you by Green Private Wealth, where we empower you to optimize your financial journey. Today’s episode delves into the often-overlooked aspect of retirement: regrets. While many envision retirement as a golden period, unforeseen challenges can arise, impacting financial stability and overall well-being. Join us as we explore common regrets shared by retirees, offering insights and strategies to navigate these potential pitfalls.

Key Points Covered:

  • Spending Habits: Discussing the regret of not spending more in early retirement years and the importance of balancing financial prudence with enjoying life’s pleasures.
  • Three Phases of Retirement: Exploring the dynamics of the “go go,” “slow go,” and “no go” phases and their implications on spending habits and lifestyle choices.
  • Financial Planning: Stressing the significance of retirement income projection plans to ensure financial security while enjoying retirement.
  • Impact on Family Dynamics: Addressing the dynamics of retirees assisting adult children financially and the importance of balancing generosity with financial stability.
  • Timing of Retirement: Examining reasons for delaying retirement and the potential regret of not retiring earlier, backed by insightful statistics and real-life anecdotes.
  • Purpose and Relationships: Emphasizing the need for retirees to discover their purpose, build new relationships, and engage in fulfilling activities to enhance overall well-being.
  • Health and Longevity: Highlighting the correlation between health, longevity, and retirement satisfaction, with practical tips inspired by the Blue Zones lifestyle.

Benefits for Listeners:

  • Gain insights into common retirement regrets and strategies to avoid them.
  • Learn practical tips for balancing financial prudence with enjoying retirement.
  • Discover the importance of purpose, relationships, and health in retirement satisfaction.
  • Find inspiration to plan for a fulfilling retirement tailored to individual aspirations and values.

We invite you to share your thoughts, questions, and personal experiences regarding retirement regrets and strategies for a fulfilling retirement. Connect with us on Facebook, LinkedIn, or visit our website, GreenPrivateWealth.com, to continue the conversation.

Don’t miss out on optimizing your retirement journey. Subscribe to the Ride: Life Work and Wealth podcast on iTunes or Spotify for more financial insights. Until next time, remember: your retirement dreams deserve a plan that empowers your best life.

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Safeguarding Seniors: Navigating the Digital Landscape of Financial Security (Ep 73)

Safeguarding Seniors: Navigating the Digital Landscape of Financial Security (Ep 73)

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Welcome to The Ride: Life, Work, and Wealth podcast, brought to you by Green Private Wealth, a trade name of Harbourfront Wealth Management. In this episode, hosts Kris Dureau and Mike Pakreslis delve into a crucial and timely topic that affects many: protecting seniors from financial abuse in the digital age.

Key Points Discussed:

  • The impact of technology on managing finances and the increased vulnerability of seniors to fraud and abuse.
  • The importance of initiating conversations with seniors about various forms of financial abuse, fostering awareness, and creating a supportive environment.
  • Practical tips for mitigating risks, including simplifying finances, regular monitoring of financial statements, and staying informed about the latest scams.
  • The role of family members in facilitating discussions and providing a safe space for seniors to share concerns without judgment.
  • The significance of securing legal documents, such as wills and trusts, and limiting access to trusted individuals.
  • Utilizing technology like alerts for suspicious activities and the concept of a trusted contact person to oversee financial transactions.
  • Exercising caution in sharing personal information and educating seniors about common tactics used by scammers.
  • The evolving landscape of cyber threats and the increasing need for identity protection services.

 

This episode provides valuable insights and practical strategies to safeguard seniors from financial exploitation in the digital era. Whether you’re a caregiver, family member, or individual concerned about your financial well-being, this discussion equips you with the knowledge to navigate potential risks and protect your assets.

As the threat of financial abuse continues to grow, staying informed and proactive is key to ensuring the financial security of our seniors. Tune in to this episode of the Real Life Wealth podcast to empower yourself with the tools needed to navigate the digital landscape of financial security for your loved ones and yourself.

 

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Unlocking Financial Success: The Power of Certified Financial Planners (Ep 72)

Unlocking Financial Success: The Power of Certified Financial Planners (Ep 72)

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Welcome to The Ride, Life Work and Wealth Podcast, proudly brought to you by Green Private Wealth, a trade name of Harborside Wealth Management. Get ready to supercharge your financial journey as we delve into the world of Certified Financial Planners (CFPs). In this episode, Brad Winlaw and Dave Harris, both Certified Financial Planners at Green Private Wealth, break down the benefits of working with a CFP and share insights from a recent FP Canada survey.

Key Topics Discussed:

  • Understanding the role of a Certified Financial Planner and their gold standard designation.
  • Exploring the comprehensive financial planning provided by CFPs, bridging gaps in investment, tax, and insurance advice.
  • Uncovering surprising statistics about Canadians’ engagement with financial planners and the impact of financial stress on relationships.
  • Real-life examples illustrating the value of CFPs in optimizing retirement savings and managing risks through insurance.

Discover why hiring a CFP is essential, learn about the significance of risk management and diversification, and understand the crucial role of insurance in financial planning. Gain valuable tips on tax planning and explore scenarios for optimizing retirement income.

Tune in to this episode and take the first step towards a financially empowered today and a prosperous tomorrow!

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Navigating Your Financial Journey: A Guide to Your First Meeting with a Financial Advisor (Ep. 71)

Navigating Your Financial Journey: A Guide to Your First Meeting with a Financial Advisor (Ep. 71)

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Welcome to the Ride: Life, Work and Wealth podcast with your host, Kris Dureau. In this episode, Kris, a seasoned financial strategist, draws from his past as a firefighter and paramedic to shed light on the importance of planning for both a secure tomorrow and a better today.

Join Kris and co-host Mike Pakreslis as they dive into the crucial topic of preparing for a first meeting with a financial advisor. As the new year brings more people seeking financial advice, Kris and Mike explore key considerations to make this initial encounter a success.

Key Points:

  • Clarity is Key: Discuss what’s important to you and articulate your motivations for seeking financial advice. Setting clear objectives for the meeting helps manage expectations.
  • Background Check: Before your meeting, do your due diligence. Check testimonials, Google reviews, and the advisor’s digital footprint to ensure alignment with your needs.
  • Designations Matter: Understand the significance of designations such as Certified Financial Planner (CFP) and Chartered Investment Manager (CIM). These designations reflect a higher standard of care and expertise.
  • Establish Criteria: Determine the qualities you seek in a financial advisor. Prepare a checklist of questions, covering topics like meeting frequency, fees, and included services.
  • Trust Your Instincts: Establishing a long-term relationship requires trust. Pay attention to your gut feeling about the advisor, envisioning a partnership that spans decades.
  • Meeting Expectations: Clearly communicate your preferences regarding meeting location, frequency, and any specific requirements you may have. Ensure they align with the advisor’s practices.

This episode equips listeners with insights and practical tips for approaching their first meeting with a financial advisor. From setting expectations to conducting background checks, Kris and Mike provide valuable guidance to ensure a productive partnership.

Have questions or thoughts? Connect on our website, greenprivatewealth.com. We love hearing from our listeners.

Tune in to this episode for a comprehensive guide to making your first meeting with a financial advisor a stepping stone towards financial success. Remember, your financial journey starts here!

 

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The Ride 2.0: A Financial Journey with Green Private Wealth (Ep. 70)

The Ride 2.0: A Financial Journey with Green Private Wealth (Ep. 70)

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Welcome to The Ride, a Work and Wealth podcast with your host, Kris Dureau. In this exciting episode, Kris introduces some major changes to the show, bringing on three new voices—David Harris, Brad Winlaw, and Mike Pakreslis—creating a dynamic team at Green Private Wealth. Together, they share diverse insights and perspectives on financial planning, making the podcast more engaging and informative.

Key Points:

  • Kris Dureau, a financial strategist and former firefighter/paramedic, sets the stage for the revamped podcast, now featuring a team of experts.
  • Meet the new team members: David Harris, a certified financial planner with 23 years of experience; Brad Winlaw, a certified financial planner with a focus on retirees and young professionals; and Mike Pakreslis, a financial expert with a passion for community involvement.
  • Learn about Kris’s unique background and approach to financial planning, shaped by his experience in emergency services.
  • Explore the 30th-anniversary celebration of Green Private Wealth, a firm committed to providing comprehensive financial services across Canada.
  • Get insights into the firm’s investment strategy, including a tactical approach and access to private investments for more stable returns.

In this episode, the diverse team brings a range of expertise to address various financial planning needs. Whether you’re a retiree, business owner, or young professional, this podcast offers practical advice and strategies to secure your financial future.

Join the conversation by subscribing to the podcast and exploring previous episodes on the Green Private Wealth website. Share your thoughts, questions, or topics you’d like the team to cover.

Stay tuned for more exciting content and expert discussions on The Ride podcast.

Tune in and ride along on this new financial journey with The Ride My Life podcast!

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Estate Planning for Your Furry Friend (Ep. 69)

Estate Planning for Your Furry Friend (Ep. 69)

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The bond between humans and their furry companions is like no other.

According to the Canadian Vet Medical Association, over 35% of Canadian households have a dog and 35% own a cat. How many of those families have included their pets in their estate plan?

In this episode, Kris Dureau focuses on the furry family members and how to ensure they have a home no matter what happens. Kris provides examples of the different types of coverage and how each fits within estate planning.

Kris discusses:

  • Why including pets in estate planning is so important
  • The 3 main ways pets can be covered in an estate plan
  • How to create an emergency plan for pets easily and quickly
  • And more

Resources:

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Mind Your Money: The 5 Behavioral Investing Biases (Ep. 68)

Mind Your Money: The 5 Behavioral Investing Biases (Ep. 68)

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Behavioral finance is an intriguing field of study, with five common investing biases you might not even recognize yourself, let’s get into them! 

In this episode, Kris Dureau details the 5 behavioral investing biases you should be looking out for. With the state of the market, this is a great time to start keeping these 5 pieces at the forefront of your investing decisions. 

Kris discusses:

  • A deeper look into confirmation bias, commitment bias and anchoring; do you know the other two?
  • How your financial advisor can help in times that you are doubting your news sources 
  • While confidence is certainly a valuable trait, overconfidence can often lead to impulsive decision-making.
  • And more

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Windfall Wisdom: What to do When You Inherit a Large Sum of Money (Ep. 67)

Windfall Wisdom: What to do When You Inherit a Large Sum of Money (Ep. 67)

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Who hasn’t bought that lottery ticket hoping it’s the winner in the big? But what if it really happened? What would you do? The same goes for any kind of windfall, including an inheritance or a gift. 

In this episode, Kris Dureau details the steps you need to take to make sure you safeguard the wealth and the process following a windfall along with a number of informed decisions you can then make that will maximize the payout. 

Kris discusses:

  • How you can direct your inherited wealth to four different “buckets” 
  • The tax deferral benefits of different investment vehicles
  • The benefits of giving or donating a portion of your wealth
  • How to comfortably save for retirement in today’s wealth climate 
  • And more

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

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

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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:

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