Category: Investing
35. Planning for Your Children’s Post-Secondary Education? Don’t Wait to Start Saving

35. Planning for Your Children’s Post-Secondary Education? Don’t Wait to Start Saving

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We all know that time flies, especially when your kids are growing up.

That’s why looking at college costs, which can be significant, is better done sooner rather than later.

In this episode, Kris Dureau discusses everything around the Registered Education Savings Plan (RESP) and ways parents can use them to save for their child’s post-secondary education. Kris examines the basics of the plan, the tax savings, and even the options for parents who open an RESP account but their child decides not to attend school.

Kris discusses:

  • Types of RESP accounts
  • The tax benefits that come from having an RESP
  • Reasons why you must pay attention to RESP-related risks
  • Three options for parents who opened an RESP account but their child decides not to attend school
  • And more!

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34. Parents As Roommates? 5 Things To Consider Before They Move In With You

34. Parents As Roommates? 5 Things To Consider Before They Move In With You

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Are you thinking about inviting your aging parents to move in, but you’re not sure if it’s the right decision?

In this episode, Kris Dureau shares five things to consider before your parents become your roommates. He points out factors that, all too often, adult children aren’t aware of before making this big decision. The best part is that this advice applies to a variety of health situations and family types.

Kris discusses:

  • The first thing to consider before inviting your parents to move in
  • Why and how to incorporate health and money into the planning process 
  • Pros and cons of having parents live with you (and other options)
  • The benefits of having a family meeting before making this decision
  • And more!

Resources:

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33. What You Need To Know About Travelling During The Pandemic With Holly McBean

33. What You Need To Know About Travelling During The Pandemic With Holly McBean

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As vaccines continue to roll out and select countries open up to travellers, there’s a lot to know about travelling during the pandemic.

In this episode, Kris Dureau sits down with TravelOnly’s Holly McBean to explore what today’s new norm of travelling looks like. 

With 40 years of experience in the travel industry, Holly is here to share everything you need to know about travelling during the COVID-19 pandemic, from what to expect and key considerations to keep in mind before hitting the road. Tune in as we provide you with the clarity you need for your next adventure! 

Holly discusses:

  • What to expect when flying and taking cruises
  • The role of vaccines when travelling and the potential of being barred from entering certain countries based on your vaccination status
  • What you should know about travel vouchers
  • What to do if you’re planning to cancel travel plans
  • What travelling in Canada is like 
  • And more!

Resources:

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About our Guest:

With over 40 years of experience, Holly McBean will be happy to assist you with your travel plans. With extensive knowledge of the destinations and many suppliers to work with, she can customize your vacation to reflect your needs. She is a CTC-Certified Travel Counsellor and ACC- Accredited Cruise Counsellor with numerous awards and recognitions servicing Lambton County and the area through the database in North America. We specialize in groups, destination weddings, luxury vacations, and cruises. Single, family, multi-generational family travel, or more, we can assist you in designing your dream vacation. As a proud member of TravelOnly with over 45 years in business, we are appointed by IATA. TICO, ACTA, CLIA to serve your better.

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32. When Should You Take Your CPP Payment? With Gary Armstrong, CPA, CGA

32. When Should You Take Your CPP Payment? With Gary Armstrong, CPA, CGA

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“When should I start taking my Canadian Pension Plan (CPP) payment?”

This is one of the most common questions Kris Dureau’s clients ask him as they start navigating the path of retirement income withdrawal.

This week, Kris tackles this question to provide you with some clarity. 

He sits down with chartered professional accountant Gary Armstrong of Green Private Wealth Counsel – Harbourfront Wealth Management to explore the world of CPP and to give listeners a better understanding of how and when to approach their CPP payments.

Gary discusses:

  • The right time to approach CPP-related cash
  • CPP tax consequences
  • Which age demographics should consider taking their CPP 
  • Mistakes people make when withdrawing their CPP early
  • And more!

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About our Guest:

Gary Armstrong is a Chartered Professional Accountant and Certified General Accountant (CPA, CGA) with a specialization in taxation through the In-Depth Tax Course offered by CPA Canada.  Before joining Green Private Wealth Counsel, Gary worked for almost ten years at a local accounting firm that focused on personal and corporate tax services for individuals and businesses of all sizes. Before that, Gary worked in 2 different large international accounting firms providing general accounting and US personal tax services.

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31. 5 Tips to Help Your Elderly Parents With Money

31. 5 Tips to Help Your Elderly Parents With Money

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As a family caregiver, knowing when and how to help your parents with their money is not an easy feat. 

Kris Dureau understands the transition is often awkward to navigate. That’s why he’s providing the guidance you need in this episode of The Ride: Life, Work, and Wealth.

This week, Kris reveals five must-know tips to help you lead your parents with their money. He highlights that not every parent requires immediate financial assistance and explains why it’s better to work with them according to their own time and pace.

Kris discusses:

  • Signs that indicate it’s time to help your parents with their money
  • Ways caregivers can ensure they have access to the documents they need to assist their parents
  • Reasons why you should be aware of your family finances
  • The importance of constantly updating the family will 
  • And more!

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30. Home Security Systems To Enhance Home Safety With Ron Couper

30. Home Security Systems To Enhance Home Safety With Ron Couper

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Many of us have spent more time than ever at home over the last year. That’s why, for many, feeling safe and secure at home has become a top priority.

This week, Ron Couper of Capital Security Group joins Kris Dureau to discuss everything you need to know about home security systems and door cameras. Plus, Ron reveals tips and tricks to help you take care of things at home before you plan to go away for your next getaway.

Ron discusses:

  • His background and its close connection to Capital Security Group’s personalized customer service approach 
  • How home security systems have changed over time
  • Doorbell cameras and their significant features
  • Reasons you should be wary of Wi-Fi cameras and systems
  • Ways to increase home security 
  • And more!

Connect with Rob Couper:

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About Our Guest:

Capital Security Group’s Ron Couper has been in the home and business security industry for 21 years.  Ron began his career within the ADT dealer program in 2000. Since then, he has worked with the biggest names in the industry, such as  Reliance Protectron and Counterforce/Chubb Edwards.

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29. Top 10 Frequently Asked Financial Questions

29. Top 10 Frequently Asked Financial Questions

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If you have a personal finance question on your mind, chances are, you’re not alone.

In this episode, discover the 10 most frequently asked finance questions financial advisors like Kris Dureau receive from clients.

From questions about the financial markets to  queries about retirement, investing, and insurance, Kris breaks down these questions and shares his valuable insight and easy-to-follow answers for each.   

Kris discusses:

  • The difference between RRSP and TFSA accounts
  • Must-know considerations around investment fee deductions 
  • Why you shouldn’t name underage children as secondary beneficiaries
  • Why bond prices and interest rates tend to go in opposite directions
  • How to determine the right time to retire 
  • And more!

Resources:

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28. 8 Ways You Can Earn Your Financial Self-Defence Black Belt

28. 8 Ways You Can Earn Your Financial Self-Defence Black Belt

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Kris Dureau has practiced martial arts since he was 12 years old.

This hobby taught him that self-defence is all about situational awareness, so that he can identify and avoid bad situations.

In this episode, Kris Dureau highlights how martial arts principles can apply to eight key areas of your financial life. By practicing these principles, you, too, can learn to protect yourself and gain situational awareness around your money.

Kris discusses:

  • Why you should review your insurance policies regularly 
  • How knowing your household cash flow can protect your finances 
  • The idea of paying yourself first
  • Benefits of debt inventory and planning 
  • The importance of portfolio protection for soon-to-be retirees 
  • Reasons to get power of attorney documents ASAP
  • And more

Resources:

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27. Manulife One: More Than Just a Conventional Mortgage With Wade Arseneault

27. Manulife One: More Than Just a Conventional Mortgage With Wade Arseneault

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Imagine being able to combine your mortgage, bank accounts, short-term savings, debt, and income all into one banking product.

This is exactly what Manulife One allows you to do. 

In this episode, Manulife Financial’s mortgage specialist, Wade Arseneault, joins Kris Dureau to explain just how Manulife One does this, and how they set themselves apart from conventional mortgage alternatives by providing an all-in-one product.

Wade discusses:

  • Manulife One as flexible, debt-free, and one-umbrella product 
  • Who can benefit from this mortgage solution 
  • A client success story
  • Interest rates differences between a fixed and a Manulife One mortgage 
  • How Manulife’s mortgage changes as you and your lifestyle changes
  • And more

Resources:

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About Our Guest:

Wade Arseneault is a mortgage specialist at Manulife Bank & Trust, specializing in the Manulife One product and mortgages. His specialties include but are not limited to transaction banking, internet banking, mortgage, banking, deposit accounts, client/advisor relationship management, and more.  Along with providing direction, knowledge, and coaching, Wade is all about offering unique financial solutions for clients of all ages.

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Episode 25 – Your 10-Step Pre-Retirement Checklist

Episode 25 – Your 10-Step Pre-Retirement Checklist

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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)  | Retirement Shift Worksheet | Cashflow Spreadsheet

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