Tag: Green Private Wealth
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

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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

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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

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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

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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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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

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