Tag Archives: Retirement

Let’s Talk Grief Recovery with The Caring Hearts Support Network (Ep. 62)



Although inevitable, death is a scary topic that is sensitive to most of us. But when that dreaded time is around the corner for a loved one, wouldn’t you like to be fully supported with all the resources you may need to deal with the next steps? 

In this episode, Kris Dureau is joined by The Caring Hearts Support Network, to detail their role in supporting those navigating end-of-life and bereavement. They offer support to the caregivers, the individuals, and the families at the end-of-life and throughout their grief journey. It is comforting to know that there are resources out there to help us or family members when the end may be close and we don’t have to face it alone.

The Caring Hearts Support Network Team shares:

  • Their experience in supporting people through their grief
  • The individual support they are able to provide for people based on their circumstances and how it has affected their life 
  • Some outreach programs that can aid in your grieving process, no matter what stage you are at
  • How this network has connected individuals from all walks of life
  • And more

Resources:

Connect With The Caring Hearts Support Network:

Connect with Kris Dureau:


The 8 Popular Myths of Retirement (Ep. 61)



There is no doubt that planning for retirement can seem like a complex process, and even thinking about it can be stressful.

Nowadays media, politicians, financial services, businesses – everyone has been talking about retirement. With so much information, it is easy to get overwhelmed. In this episode, Kris Dureau debunks eight popular myths about retirement that might be stressful to pre-retirees as they plan for their retirement. 

Kris discusses:

  • Where and how retirement myths originate, as well as how they affect retirees
  • The importance of starting retirement planning at an early age.
  • The reasons why many people procrastinate about saving for retirement
  • Why retirement isn’t about having a specific amount, but about having an income that suits your lifestyle
  • Why you should continue to contribute to your CPP pension and old-age security
  • The difficulty retirees face in spending their money
  • And more!

Resources:

Connect with Kris Dureau:


Traveling to the USA? Here’s How It Might Affect Your Taxes (Ep. 60)



Many Canadians pack their suitcases as it gets colder and fly off to warmer places in the USA. While that sounds like a wonderful idea, it is important to know the tax implications of your trip.

In this episode, Kris Dureau provides a brief overview of tax-related nuances you need to keep in mind as a frequent traveler to the USA.

Kris discusses:

  • The importance of consulting an accountant who is experienced in cross-border taxation
  • How the length of your stay affects your tax situation (Substantial Presence Test)
  • Insights into taxation on US-sourced income
  • And more!

Resources:

Connect with Kris Dureau:


The Route to Retirement During a Recession (Ep. 57)



Are you nearing retirement and wondering if right now is the time to step into it? During these uncertain times, having a thorough plan that incorporates market drops and recession is very crucial for your peace of mind. 

However, if you have not had one of these plans done before retirement, there are still other things you can do to prepare yourself during tough times in the market. In this episode, Kris Dureau offers some tips that may ease the sting of leaving the everyday workforce. 

Kris discusses:

  • The three choices for transitioning from a full-time job into retirement
  • Key tips on retiring during a recession
  • What to consider when deciding to work part-time during retirement 
  • When is a good time to take the leap into retirement
  • And more

Resources:

Connect with Kris Dureau:


Offsetting Taxes From Your RRSP: Facts About The RRSP Meltdown Strategy (Ep. 56)



The RRSP meltdown strategy has been saving our clients’ tax dollars for many years now, allowing for more savings and tax benefits.

In this episode, Kris Dureau unpacks the benefits and risks of this strategy along with ways you can reduce taxes during your retirement income in your early golden years. 

Kris discusses:

  • How to save money when taking out your RRSP
  • How to avoid paying large amounts of taxes when withdrawing from your retirement savings plan
  • Techniques to save money during your retirement years
  • The role of these RRSP strategies when it comes to your estate planning 
  • And more!

Connect with Kris Dureau:


6 Things To Avoid With a Tax-Free Savings Account (Ep. 55)



Just the name Tax-Free Savings Account (TFSA) sounds wonderful, doesn’t it? You can set aside money tax-free throughout your lifetime and it is a great idea… If you don’t make some simple mistakes. We need to be aware of the regulations around these accounts to avoid any painful mistakes.

In this episode, Kris goes through six simple steps you can check off in order to have a tax-free savings account as a valuable tool that benefits you. Your TFSA is a registered plan that could help you save a certain amount of money each year and grow it tax-free.

Kris discusses:

  • Why you should name your spouse as a successor holder rather than a beneficiary of your TFSA
  • The reason you should not use your TFSA as a high-interest savings account
  • The importance of planning when to withdraw money out of your TFSA
  • Factors to consider when looking to make a big purchase
  • And more

Connect with Kris Dureau:


An In-Depth Look At Your Canadian Pension Plan (Ep. 53)



One of the biggest cornerstones to retirement income planning is knowing the Canada Pension Plan (CPP) and what your duties are associated with it. When planning for retirement, many people want to make sure they are setting themselves up for total security in their retirement. 

When it comes to retirement, its common to have questions like how much will you receive as your pension based on your contribution, the process of how much money from your current job is going into your retirement, and many more.

In this episode, Kris Dureau talks about the things you may not know about your retirement, helping you better understand what to look forward to once you decide to take out your pension. 

Kris discusses:

  • The reality of monthly payments once you start taking pension in your retirement
  • The meaning of Yearly Maximum Pensionable Earnings (YMPE) 
  • Your monthly CPP payment estimates and how to find that information
  • Contributing to your CPP while being self-employed
  • Factors that will affect your retirement
  • And more!

Resources:

Connect with Kris Dureau:


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.




The Ins and Outs of Pension Planning (Ep. 44)



Whether you’re retiring or changing jobs, remember to always have your pension plan in mind.

In this episode, Kris Dureau helps out the 37% of Canadians who still have pension plans. With an all-time high of employees moving jobs, here is how you can start planning around the options you have so you can get the most out of your employee pension.

Kris discusses:

  • The types of pension plans
  • What happens to your pension if you leave your job
  • What you should know about withdrawing from your pension before retirement
  • Taxable pension plans
  • And more!

Connect with Kris Dureau:


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: