Tag: financial planner

Kris Dureau Financial Advisor, 3 Hats Financial, The Ride Podcast, The Ride: Life, Work and Wealth.
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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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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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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Big News: Merging With Green Private Wealth (Ep. 58)

Big News: Merging With Green Private Wealth (Ep. 58)

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Big positive changes are underway for our firm. Over the past 18 months behind the scenes, we have been working on a merger with Green Private Wealth – an award-winning firm. This merger allows us to offer our clients a more in-depth, wide array of services that can benefit them at any stage of their life. 

In this episode, Kris Dureau shares this exciting shift and how the new merger with Green Private Wealth is benefitting their business in a number of different ways. With the new expansion of their team, they are able to offer new opportunities and work with more advanced business models and strategies that will ultimately benefit you and your portfolio.

Kris discusses:

  • The benefits clients will receive just from being a larger firm 
  • Their focus on adapting to the rapidly changing wealth management landscape 
  • Their new pension-style portfolio management approach and how it can help clients avoid the volatility associated with traditional portfolios
  • The shared company values and practices that led to the smooth merger between Three Hats Financial and Green Private Wealth
  • And more

Resources:

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Episode 23 – Spring Clean Your Finances With These 6 Steps

Episode 23 – Spring Clean Your Finances With These 6 Steps

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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:  Resources: Cashflow Spreadsheet | Equifax | TransUnion

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Episode 16 – How to Retire Well — Part 2

Episode 16 – How to Retire Well — Part 2

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It’s no secret that when it comes to preparing for retirement, one major question pre-retirees are asking is, “Will I have enough to retire?”

In part two of his miniseries on retiring well, Kris Dureau reveals how you can find out the answer to this question. He highlights three financial areas to consider when assessing your retirement-related finances, assets, and benefits so that you can achieve the retirement lifestyle you’ve always desired.

In this episode, you will learn:

  • The difference between discretionary and non-discretionary expenses
  • How to plan for your retirement cash flow
  • Why you should create a debt inventory — and how to do it
  • How creating three financial buckets can help your portfolio in retirement 
  • And more!

Tune in now to discover actionable tips for preparing your finances to retire well!

Resources:  How to Retire Well – Part 1 | Cash flow Spreadsheet | Retirement Shift Worksheet

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Episode 15 – How to Retire Well – Part 1

Episode 15 – How to Retire Well – Part 1

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When you retire, what will you retire to? How do you envision your retirement? 

To help you create a smooth transition into life’s next chapter, join Kris Dureau for this new two-part mini-series on what it takes to retire well. In part one, Kris examines the mental side of retirement and breaks down five unique qualitative exercises that are designed to help retirees understand what retirement means to them.

In this episode, you will learn:

  • How the retirement landscape is changing
  • Three Hats Financial’s five stages of retirement coaching 
  • How clients have benefited from Three Hats’ retirement planning techniques 
  • How the My Retirement Worksheet can help you adjust to retirement 
  • And more!

Tune in now to discover key ways you can transition into your retirement so that you can live, and retire, well!

Resources:   Epic Retirement Clip 

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Episode 14 – What to Know Before Making a Midlife Career Change — With Lisa Taylor

Episode 14 – What to Know Before Making a Midlife Career Change — With Lisa Taylor

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Do you want to pursue a new career but are unsure whether you should truly go for it? 

In this episode, Kris Dureau sits down with the Challenge Factory’s Lisa Taylor. Lisa is an in-demand speaker with expert insight into today’s changing workforce. Now, Lisa details how transitioning to a new career path can be life-changing and what you can do to achieve it! 

In this episode, you will learn:

  • How to conquer the fear of making a career change
  • The 4 domains of changing career paths: needs, talents, passions, and impact
  • Where to receive career counselling and guidance 
  • Ageism in the workforce
  • And more!

Tune in and discover how Kris and Lisa can help you on your new career journey! 

Resources: Challenge Factory

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