Tag: Green Private 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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The Ride 2.0: A Financial Journey with Green Private Wealth (Ep. 70)

The Ride 2.0: A Financial Journey with Green Private Wealth (Ep. 70)

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Welcome to The Ride, a Work and Wealth podcast with your host, Kris Dureau. In this exciting episode, Kris introduces some major changes to the show, bringing on three new voices—David Harris, Brad Winlaw, and Mike Pakreslis—creating a dynamic team at Green Private Wealth. Together, they share diverse insights and perspectives on financial planning, making the podcast more engaging and informative.

Key Points:

  • Kris Dureau, a financial strategist and former firefighter/paramedic, sets the stage for the revamped podcast, now featuring a team of experts.
  • Meet the new team members: David Harris, a certified financial planner with 23 years of experience; Brad Winlaw, a certified financial planner with a focus on retirees and young professionals; and Mike Pakreslis, a financial expert with a passion for community involvement.
  • Learn about Kris’s unique background and approach to financial planning, shaped by his experience in emergency services.
  • Explore the 30th-anniversary celebration of Green Private Wealth, a firm committed to providing comprehensive financial services across Canada.
  • Get insights into the firm’s investment strategy, including a tactical approach and access to private investments for more stable returns.

In this episode, the diverse team brings a range of expertise to address various financial planning needs. Whether you’re a retiree, business owner, or young professional, this podcast offers practical advice and strategies to secure your financial future.

Join the conversation by subscribing to the podcast and exploring previous episodes on the Green Private Wealth website. Share your thoughts, questions, or topics you’d like the team to cover.

Stay tuned for more exciting content and expert discussions on The Ride podcast.

Tune in and ride along on this new financial journey with The Ride My Life podcast!

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Estate Planning for Your Furry Friend (Ep. 69)

Estate Planning for Your Furry Friend (Ep. 69)

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The bond between humans and their furry companions is like no other.

According to the Canadian Vet Medical Association, over 35% of Canadian households have a dog and 35% own a cat. How many of those families have included their pets in their estate plan?

In this episode, Kris Dureau focuses on the furry family members and how to ensure they have a home no matter what happens. Kris provides examples of the different types of coverage and how each fits within estate planning.

Kris discusses:

  • Why including pets in estate planning is so important
  • The 3 main ways pets can be covered in an estate plan
  • How to create an emergency plan for pets easily and quickly
  • And more

Resources:

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Mind Your Money: The 5 Behavioral Investing Biases (Ep. 68)

Mind Your Money: The 5 Behavioral Investing Biases (Ep. 68)

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Behavioral finance is an intriguing field of study, with five common investing biases you might not even recognize yourself, let’s get into them! 

In this episode, Kris Dureau details the 5 behavioral investing biases you should be looking out for. With the state of the market, this is a great time to start keeping these 5 pieces at the forefront of your investing decisions. 

Kris discusses:

  • A deeper look into confirmation bias, commitment bias and anchoring; do you know the other two?
  • How your financial advisor can help in times that you are doubting your news sources 
  • While confidence is certainly a valuable trait, overconfidence can often lead to impulsive decision-making.
  • And more

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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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Putting Your Financial House in Order Before Divorce (Ep. 66)

Putting Your Financial House in Order Before Divorce (Ep. 66)

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When you say I do on your wedding day, the world seems wonderful. There would be no reason to think you might eventually be saying, “I don’t want to be in this marriage anymore”, but how do you financially prepare for divorce?

In this episode, Kris Dureau addresses the aspect of your financial well-being if you find yourself going through this big life transition. He explains the things you need to know regarding what you’re entitled to and where you stand in the marriage from a financial perspective.

Kris discusses:

  • How the emotional aspect of a divorce might blind you from the necessary steps you need to take
  • When you should be separating your assets and changing your liabilities
  • The importance of understanding your financial stance in a relationship
  • Ways you can start standing on your own two feet following a divorce
  • And more

Resources:

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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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The End of Life Checklist (Ep. 63)

The End of Life Checklist (Ep. 63)

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In our last episode, we sat down with the Caring Hearts Support Network to discuss all things grief and the support they made available for those people going through these tough times. 

In this episode, we are going to unpack what you can do to prepare for uncertain times and what exactly should be on your end-of-life checklist. Whether you are creating your own or understanding the details of this plan for a loved one, it is important to understand where all of this information is as well as how you can use it to seamlessly transition into your next stage of life. 

Kris discusses:

  • The importance of communicating to your family members where your will is and when was the last time you updated it
  • Some important life changes that should encourage you to update your will
  • How life insurance comes into play during someone’s death (not all life insurance policies are the same) 
  • How you should be picking your power of attorney
  • The benefits of having a wealth organizer
  • And more

Resources:

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