Category Archives: The Ride Podcast

An In-Depth Look At Your Canadian Pension Plan (Ep. 53)



One of the biggest cornerstones to retirement income planning is knowing the Canada Pension Plan (CPP) and what your duties are associated with it. When planning for retirement, many people want to make sure they are setting themselves up for total security in their retirement. 

When it comes to retirement, its common to have questions like how much will you receive as your pension based on your contribution, the process of how much money from your current job is going into your retirement, and many more.

In this episode, Kris Dureau talks about the things you may not know about your retirement, helping you better understand what to look forward to once you decide to take out your pension. 

Kris discusses:

  • The reality of monthly payments once you start taking pension in your retirement
  • The meaning of Yearly Maximum Pensionable Earnings (YMPE) 
  • Your monthly CPP payment estimates and how to find that information
  • Contributing to your CPP while being self-employed
  • Factors that will affect your retirement
  • And more!

Resources:

Connect with Kris Dureau:

 


3 Ways To Set Expectations Before Sending Your Kids to College (Ep. 52)



For many parents, there are a number of stressors that come along with sending your child to college. Whether they are leaving their childhood home or commuting to school, preparing yourself for this time will help ease the tension and allow you to offer your children advice for when that time comes. 

In this episode, Kris Dureau talks about the conversations you should be having with your children about finances prior to them leaving for college or university. Unfortunately, children are not taught financial literacy in high school or university, leaving them to figure it out as they make mistakes, which can be avoided with your new expertise in this area. 

Kris discusses:

  • The importance of setting clear expectations for your child before they graduate 
  • The benefits of living in a dorm and experiencing life independently during this age
  • The significance of maintaining good credit during those four years of school
  • Teaching your children to monitor cash flow ins and outs monthly
  • And more!

Resources:

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Celebrating 50 Episodes: Take A Walk Down Memory Lane With Us (Ep. 51)



The Ride: Life, Work and Wealth has officially been running for 50 episodes. To celebrate, Kris Dureau is going through his top 6 most downloaded episodes, giving you an idea of what each one entails. 

This week, Kris details why each of these releases was such a hit, followed by important takeaways each one had to offer, giving you a crash course on his podcasting journey.

Kris gives an overview of:

  • What you should consider before making a big career decision
  • How to keep the cottage in the family and make sure you are saving on taxes  
  • Insight on when you should take your CPP payment
  • Why it is vital to write your life letters
  • And more!

Resources:

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Fixed vs.Variable Mortgages: Here’s What You Need to Know with Derek Gold (Ep. 50)



Mortgage rates are on the rise. 

What should you do in this scenario?

Is it a good idea to get a fixed mortgage or variable mortgage? Do higher rates make it harder to qualify for a home loan?

In this episode, Derek Gold from Mortgage Scout joins Kris Dureau to unpack the different options you have when applying for home mortgages and repayments. While there is no one-size-fits-all solution, Derek outlines the differences between fixed or variable mortgages to help you decide which option may work best for you. 

Derek discusses:

  • Fixed or variable mortgages — which people seem to pick the most
  • The different types of mortgages
  • The importance of finding the right lender
  • The new criteria for qualifying for a mortgage
  • Advice for those with an increased line of credit due to home renovations 
  • And more!

Connect with Derek Gold

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About Our Guest:

Derek Gold is a mortgage agent at Mortgage Scout. Derek brings over eight years of independent brokerage experience. With extensive experience servicing the residential needs of customers, Derek has structured sound solutions, from getting clients into their first home to helping them build their real estate portfolio and become rental investors. 




The Four Wealth Destroyers (Ep. 45)



What reduces wealth — do you know? 

Find out in this episode, as Kris Dureau explains how taxes, inflation, fees, and overreacting to the market impact our savings, income, and investments. He also unveils ways we can avoid making common mistakes and make better decisions with our money.

Kris discusses:

  • The importance of working alongside helpful and supportive financial advisors 
  • Ways taxes, inflation, fees, and overreacting to the market impact our savings and investments
  • How to curb and overcome common wealth destroyers
  • The value of being aware of our emotions during times of volatility
  •  And more!

Connect with Kris Dureau:

The asset classes featured in this podcast are for illustration purpose only, this should not be viewed as a solicitation of buy or sell. Always talk to a professional before investing to know if the product is right for you. Past performance does not necessarily predict future results; each asset class has its own risks.




Parenting & Child Development in the Era of a Pandemic with Dr. Dona Matthews (Ep. 43)



Throughout the pandemic, the main focus has been on jobs, working from home, and the change in our day-to-day activities. 

However, what about our children? How have they been coping with the ebbs and flows of the pandemic?

In this episode, Kris Dureau speaks with developmental psychologist and author Dr. Dona Matthews to unveil how child development has changed over the past two years while outlining the value of mental health support and resources for parents and children.

Dr. Matthews discusses:

  • Ways the pandemic has changed childhood
  • The importance of incorporating mental health resources for children dealing with behavioral and academic problems
  • The value of parenting support for teenage children
  • Maximizing time between working from home and children
  • And more!

Resources:

Connect with Dr. Dona Matthews:

Connect with Kris Dureau:

About Our Guest: 

Dr. Donna Matthews loves working with parents and kids, helping them figure things out so they can live their best lives. She also enjoys working with teachers, helping them find their own best ways to support children’s and teens’ learning and well-being.

Dr. Matthews has also co-authored co-edited several books: 

  • Being Smart about Gifted Learning: Empowering Parents 
  • Kids Through Challenge and Change
  • Beyond Intelligence: Secrets of Raising Happily Productive Kids 
  • The Development of Giftedness and Talent Across the Life Span
  • The Routledge International Companion to Gifted Education

She lives in Toronto with her husband Stephen Gross and their blended family of four kids—Robin Spano, Alex Gross, Erin Kawalecki, and Ashley Gross—and their amazingly perfect spouses, as well as their children, her cherished grandkids: Theo, Sasha, Zoe, Jackson, Devon, Simon, and Riley.


How To Keep Your Cottage in the Family and Reduce Your Future Tax Bill (Ep. 40)



Are you thinking about selling or gifting your cottage to your kids? A lot of cottage owners want to keep this property in the family. But, too many of them get hit with a big tax bill because they don’t know how to make the transition. 

If you want to avoid tax mistakes, this one’s for you!

In this episode, Kris Dureau shares advice — as a financial planner and fellow cottage-owner — on how to reduce your cottage’s future tax bill. He also dives into the nuances of family dynamics to help you make a confident decision about which child to give or sell the cottage to.

Kris discusses:

  • Why cottage property values are surging and how that impacts estate planning
  • What to consider when deciding which child will receive the cottage
  • Major mistakes people make when selling or gifting a cottage
  • Top ways to reduce your cottage’s future tax bill
  • And more

Connect with Kris Dureau:


37. Estate Planning for Families With Special Needs Children With Fred Ryall



Having a special needs family member carries unique, emotional, and financial concerns.

That’s why it’s important to work with a professional who understands exactly what you are facing.

In this episode, Kris Dureau welcomes Fred Ryall, an estate practitioner with more than 40 years of experience. For the last 15 years, Fred has worked with special needs children and adults to help them with their unique planning needs. In fact, he received the Queen Elizabeth the Second Diamond Jubilee Award from the Governor-General of Canada for his efforts.

Fred joins the show to share his insight about estate planning for families with special needs members. He explains the areas of the planning process that need to be considered and reveals why documenting details about a disabled child is so important.

Fred discusses:

  • The unique challenges families with special needs children face
  • What a Henson trust is and how it benefits those with special needs 
  • Easy ways to document and organize your child’s details 
  • Five key areas of the planning process he covers with the families he works with
  • And more!

Connect with Fred Ryall:

Connect With Kris Dureau:

About our Guest:

For over 35 years, Fred has been providing financial and estate planning advice for self-employed business owners, designated professionals, executives, and families to ensure social and family legacies.

Some of his recent professional accomplishments include receiving the Queen Elizabeth II Diamond Jubilee Award from the Governor-General of Canada for his planning with families who have special needs children. In 2007, he also received the Julia Award from Cystic Fibrosis Canada.

Fred has had the privilege to speak to several other special needs organizations including, Cystic Fibrosis Canada, Canadian Down Syndrome Society, ALS Canada, Autism Ontario, Multiple Sclerosis Society of Canada, 18th Chromosome Deficiency, Alzheimer Society Canada, and the Peel Public School Board’s Special Needs Programs.


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



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



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:

Connect With Kris Dureau