Category Archives: The Ride Podcast

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:

Connect with Kris Dureau:


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


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 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 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 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