Tag: Financial Advisor
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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Preparing For Taxes in Retirement, Part 2 (Ep. 65)

Preparing For Taxes in Retirement, Part 2 (Ep. 65)

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Now that we have a basic understanding of the different sources of income in retirement, we can dive deeper into tax planning strategies. While tax strategies can be complicated at first, they eventually save you money in the long run if you plan correctly. 

In this episode, Kris Dureau concludes his two part series on taxes in retirement by reviewing the three D’s of tax planning: Deduct, Divide and Defer. He offers insight into how you can create a strategic plan based on your individual situation alongside your advisor. 

Kris discusses:

  • How retirement income planning may be complicated when first starting
  • The importance of working alongside an advisor or accountant when portfolio planning with tax saving strategies
  • The ins and outs of pension splitting
  • How you can use spousal loans as a strategic form of income splitting
  • Tax deferral through prescribed annuities
  • The withdrawal strategies that could minimize taxes
  • And more

Resources:

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Preparing For Taxes in Retirement, Part 1 (Ep. 64)

Preparing For Taxes in Retirement, Part 1 (Ep. 64)

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Taxes can have a much bigger impact on your retirement planning than first assumed. It is important to take a dive into your portfolio and understand how the different sources of income in retirement, government and personal can go into your planning process. 

In this episode, Kris Dureau discusses a number of ways you can understand these income sources and plan for the tax implications you might have to deal with these. Through planning ahead, you can set yourself up to retire with ease and have no fear of losing a generous amount of your assets to taxes. 

Kris discusses:

  • Most common types of retirement income and the tax challenges they present
  • How you can get further in-depth advice based on your personal circumstances
  • Retirement income basics 
  • The three buckets of retirement income for Canadians and how they all play into your portfolio
  • And more

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Year-End Checklist for Your Registered Accounts (Ep. 59)

Year-End Checklist for Your Registered Accounts (Ep. 59)

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Before the year comes to a close, there are a number of things you want to consider concerning your registered accounts. These include your RESP, RRSP and RRIF accounts that you might want to pay closer attention to as the year comes to an end so that you can save going into 2023.  

In this episode, Kris Dureau discusses what to look out for when investing in a down market and how it can actually benefit some of your accounts depending on your current situation. 

Kris explains:

  • What are Registered Accounts
  • The importance of having a TFSA
  • Some considerations for parents whose children just turned 15 
  • Changes you might want to make in your portfolio prior to December 31st
  • How you can save on taxes this year 
  • And more

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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

Connect with Kris Dureau:

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