Your Retirement Planning Simplified

Joseph Curry, CFP Professional

Welcome to the Retirement Planning Simplified Podcast. Join Joseph Curry, CFP Professional and retirement planning specialist, to learn how to simplify your retirement planning. If you're approaching retirement or have already entered your early retirement years, this podcast is designed to help you answer your big retirement questions like... Can I afford to retire? How do I create a paycheck in retirement? How do I pay less tax in retirement? And even big questions about life after work. Through Retirement Planning education, resources, and expert interviews, Joseph will help you get clear on your vision for retirement including what that looks like for you, how to simplify it, and what you will need specifically to achieve or maintain financial freedom, live out your dreams and create future opportunities for the ones you love. You can find more information, tools, and resources for your Retirement Planning at https://retirementplanningsimplified.ca. read less

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Ep #117: Good Portfolio Management Won’t Make Up for Bad Financial Planning

Ep #117: Good Portfolio Management Won’t Make Up for Bad Financial Planning

In this episode of Your Retirement Planning Simplified, Joe Curry and Lindsay Wilson explore why good portfolio management can’t compensate for bad financial planning, drawing insights from FP Canada’s Financial Planning Conference and Benjamin Felix’s investment lessons. They emphasize the importance of goal-oriented financial planning over stock-picking, highlighting Warren Buffett’s advocacy for index investing as evidence. Key topics include tax-efficient strategies, retirement income styles, account optimization (RRSPs, TFSAs, CPP, OAS), and estate planning. Learn actionable steps to align your portfolio with your retirement goals and discover the RISA framework to better understand your income style. Read the full show notes and find more information here: Ep 117 Show Notes

Episodes

Ep #117: Good Portfolio Management Won’t Make Up for Bad Financial Planning

Ep #117: Good Portfolio Management Won’t Make Up for Bad Financial Planning

In this episode of Your Retirement Planning Simplified, Joe Curry and Lindsay Wilson explore why good portfolio management can’t compensate for bad financial planning, drawing insights from FP Canada’s Financial Planning Conference and Benjamin Felix’s investment lessons. They emphasize the importance of goal-oriented financial planning over stock-picking, highlighting Warren Buffett’s advocacy for index investing as evidence. Key topics include tax-efficient strategies, retirement income styles, account optimization (RRSPs, TFSAs, CPP, OAS), and estate planning. Learn actionable steps to align your portfolio with your retirement goals and discover the RISA framework to better understand your income style. Read the full show notes and find more information here: Ep 117 Show Notes

Ep #116: Essential Insights on Hospice Care and Support with Red Keating

Ep #116: Essential Insights on Hospice Care and Support with Red Keating

In this episode of Your Retirement Planning Simplified, Lindsay welcomes Red Keating, a supportive care counselor at Hospice Peterborough and co-host of the What Now? podcast, to discuss the profound importance of hospice and palliative care in Ontario. Highlighting the compassionate, holistic approach to end-of-life support, Red shares insights on caregiver support, emotional and spiritual guidance, and the significance of being present during a loved one’s final days. Listeners gain valuable knowledge on the structure and services of hospice care, the benefits of community involvement, and the variety of support groups offered for patients and their families. Read the full show notes and find more information here: EP 115 Show Notes

Ep# 115: Retire with Impact: Discover the Power of Volunteering with Lois Tuffin

Ep# 115: Retire with Impact: Discover the Power of Volunteering with Lois Tuffin

Joe sits down with Lois Tuffin from Volunteer Peterborough to explore the transformative benefits of volunteering for retirees. Lois shares inspiring stories of retirees who have found renewed purpose and fulfillment through volunteer roles in organizations like Habitat for Humanity, Elder Dog, and the Peterborough Folk Festival. Covering a range of opportunities—like meal delivery for seniors, assisting at local festivals, and even working with animal shelters—Lois highlights how retirees can combat loneliness, build community connections, and make a positive impact. Listeners are encouraged to visit Volunteer Peterborough or Volunteer Canada to discover local opportunities and make a difference in their retirement journey. Read the full show notes and find more information here: Ep 115 Show Notes

Ep# 114: Understanding the Bucket Strategy for Retirement Income: RISA Framework Explained

Ep# 114: Understanding the Bucket Strategy for Retirement Income: RISA Framework Explained

Joe and Lindsay conclude their RISA framework series with a look at the final quadrant: time segmentation. It is also known as the "bucket strategy" in retirement planning. Joe explains how this approach divides retirement assets into short-term, mid-term, and long-term buckets, allowing for a balanced retirement income strategy. Retirees can reduce anxiety from market fluctuations by segmenting assets while still achieving growth over time. Joe and Lindsay also discuss the pros and cons of the bucket strategy compared to the total return approach and suggest listeners take the RISA assessment to determine their best retirement income style. Read the full show notes and find more information here: EP 114 Show Notes

Fireside Financial Ep #19: Gaining Clarity: Why Retirees Switch Financial Advisors

Fireside Financial Ep #19: Gaining Clarity: Why Retirees Switch Financial Advisors

Does this sound familiar? Your advisor tells you not to worry, that you're in a good position for retirement. However, you still feel uncertain and lost about where you stand financially. The struggle to get clear answers and guidance on retirement planning can leave you feeling anxious and overwhelmed. If this resonates with you, it's time to take a different approach to retirement planning and seek the clarity you genuinely deserve. Dive into a candid conversation between Joe Curry and Regan Schiller, two seasoned retirement planners as they unravel the unspoken complexities of retirement planning. Read the full show notes and find more information here: Ep 19 Show Notes

Ep #113 Guaranteed Income and Growth: Exploring Risk Wrap Retirement Strategies

Ep #113 Guaranteed Income and Growth: Exploring Risk Wrap Retirement Strategies

Joe and Lindsay continue their exploration of the RISA. This week we examine the Risk Wrap quadrant, focusing on balancing growth potential with income protection in retirement. We explain how Guaranteed Minimum Withdrawal Benefits (GMWB) work, allowing retirees to invest in the market with the security of a guaranteed income floor. Topics covered include variable annuities, investment strategies, and the pros and cons of GMWBs. Listeners can learn more about retirement income styles and access their personalized RISA assessment for better retirement planning. Read the full show notes and find more information here: Ep 113 Show Notes

Ep #112 Too Risk Averse for the Market? Explore Income Protection Instead

Ep #112 Too Risk Averse for the Market? Explore Income Protection Instead

In this episode of Your Retirement Planning Simplified, Joe and Lindsay examine the Income Protection Quadrant of the RISA framework, focusing on strategies to secure guaranteed income in retirement. They discuss the benefits of annuities, defined benefit pensions, Canada Pension Plan (CPP), and Old Age Security (OAS) to create an income floor that covers essential expenses. For retirees who prioritize safety over growth, this approach minimizes uncertainty, making it ideal for those seeking financial security in volatile markets. Learn how to implement this strategy and optimize your retirement income plan for peace of mind. Read the full show notes and find more information here: Ep 112 Show Notes

Ep # 111 – Flexibility or Security? Weighing the Pros and Cons of a Total Return Retirement

Ep # 111 – Flexibility or Security? Weighing the Pros and Cons of a Total Return Retirement

Joe and Lindsay explore the Total Return quadrant of the RISA framework, emphasizing the importance of understanding retirement income styles. They discuss the Total Return strategy, which focuses on maintaining a diversified portfolio of stocks and bonds, enabling retirees to rely on market growth for sustainable income. We highlight key characteristics of Total Return investors, along with the strategy's pros and cons, providing actionable insights for listeners to assess their retirement planning approaches. Read the full show notes and find more information here: EP 111 Show Notes

Ep # 110 - Estate Planning Fails: Real Stories of What Can Go Wrong

Ep # 110 - Estate Planning Fails: Real Stories of What Can Go Wrong

Only 48% of Canadians have a will in place. It's probably been on your to-do list for a long time and you're not alone. In fact, of the people who have a will, only 35% of them are up to date. If you're feeling the stress of not having your estate planning in order, you are not alone! The stories shared by Ellie Muir, Team Lead of Partner Relations at Clear Estate, highlight the real-life consequences of not revisiting your estate plan and the strain it can put on family relationships. It's time to ensure your legacy is protected and your family is set up for success. Read the full show notes and find more information here: EP 110 Show Notes

Fireside Financial Ep #18: Top 10 Reasons You Need a Retirement Plan

Fireside Financial Ep #18: Top 10 Reasons You Need a Retirement Plan

If you're feeling uncertain about your retirement finances and making decisions based on guesswork, then you are not alone! Many individuals nearing retirement age find themselves in a similar situation, relying on rules of thumb or hearsay rather than having a concrete plan in place. This lack of clarity can lead to stress, anxiety, and potential financial missteps, leaving you feeling unsure about your retirement future. Joe and Regan discuss the top 10 reasons to create a sold retirement plan so that you can navigate this critical phase of life with confidence. Read the full show notes and find more information here: Ep 18 Show Notes

Ep #109: Why Sugarcoating Retirement Plans Does More Harm Than Good

Ep #109: Why Sugarcoating Retirement Plans Does More Harm Than Good

Joe and Lindsay discuss the importance of transparency in financial planning by sharing a recent client story. A couple came to them frustrated by their previous advisor's lack of clarity, unsure whether they could reach their retirement goals. Through our process—beginning with a strategy session and followed by a comprehensive plan—the couple clearly understood their situation, even though the news wasn't exactly what they wanted to hear. Ultimately, the key takeaway is that honest, actionable advice empowers clients to make informed decisions and stay on track toward their goals. Read the full show notes and find more information here: EP 109 Show Notes

Ep #108: Customize Your Retirement Strategy: There's No One-Size-Fits-All Approach

Ep #108: Customize Your Retirement Strategy: There's No One-Size-Fits-All Approach

We answer a listener's question about balancing RRSP and RIF withdrawals in retirement while minimizing taxes. We highlight the importance of personalized planning, discussing when it makes sense to defer withdrawals for tax-deferred growth and when early withdrawals could help reduce future tax liabilities like OAS clawbacks. Joe emphasizes that strategies like delaying CPP or OAS or adjusting withdrawal timing depend on individual goals, income sources, and estate considerations, stressing that no single approach fits all situations. Read the full show notes and find more information here: Ep 108 Show Notes

Ep #107: Skeptic to Advocate: Robin Powell's Journey into Evidence-Based Investing

Ep #107: Skeptic to Advocate: Robin Powell's Journey into Evidence-Based Investing

Worried about making financial mistakes with your retirement portfolio? Robin Powell, founder of The Evidence-Based Investor, joins Joe Curry, retirement advisor, to explore the transformative power of evidence-based investing. Robin shares his journey from journalism to becoming an advocate for passive investing, highlighting key moments such as meeting Vanguard founder Jack Bogle and uncovering the overwhelming evidence supporting long-term, low-cost strategies for portfolio management. Together, they discuss the misconceptions surrounding traditional investment advice, the importance of staying patient, and the actual value that financial advisors provide beyond stock-picking—focusing on personal goals, estate, and tax planning. Read the full show notes and find more information here: Ep 107 Show Notes

Ep# 106: Understanding Your Retirement Income Personality for Success with Wade Pfau

Ep# 106: Understanding Your Retirement Income Personality for Success with Wade Pfau

Joe speaks with Wade Pfau, a leading expert in retirement income planning. They explore the evolving landscape of retirement strategies, focusing on understanding personal retirement income styles using the RISA (Retirement Income Style Awareness Profile) framework. Wade highlights the significance of aligning strategies with individual comfort levels, discussing approaches like total returns, time segmentation, and income protection. They also touch on behavioral pitfalls and the role of advisors versus a DIY approach, providing listeners with practical insights to tailor their retirement planning. Read the full show notes and find more information here: Ep 106 Show Notes

EP #105: Connecting Your Values to Your Financial Goals with Dr. Brian Portnoy

EP #105: Connecting Your Values to Your Financial Goals with Dr. Brian Portnoy

Joe sits down with Dr. Brian Portnoy to explore the concept of "funded contentment," a revolutionary approach to financial well-being that transcends traditional views of wealth. They delve into the psychological and emotional aspects of retirement planning, emphasizing the importance of aligning financial decisions with personal values. Brian introduces his famework of the four Cs—connection, control, competence, and context—offering practical insights to help listeners overcome cognitive biases, simplify their finances, and find purpose in retirement. Read the full show notes and find more information here: EP 105 Show Notes

Fireside Financial Ep #17: Expect the Unexpected: Hidden Costs in Retirement

Fireside Financial Ep #17: Expect the Unexpected: Hidden Costs in Retirement

Joe and Regan discuss lesser-known aspects of retirement planning, focusing on unexpected expenses, psychological adjustments, and the impact of inflation. They highlight overlooked costs like home maintenance, supporting adult children, and healthcare, while also addressing the importance of planning for unplanned opportunities. The conversation delves into the emotional shifts in retirement, offering advice on staying socially connected, revisiting past hobbies, and navigating changes in daily routines. Read the full show notes and find more information here: EP 17 Show Notes

Ep #104: Top Strategies to Reduce Taxes in Retirement

Ep #104: Top Strategies to Reduce Taxes in Retirement

We dive into actionable strategies to help you save more money in retirement. From pension income splitting and maximizing tax credits to optimizing RRIF withdrawals and deferring government benefits, we break down key steps to reduce your tax burden and stretch your savings. Read the full show notes and find more information here: EP 104 Show Notes

Ep# 103: The High Cost of Complicating Your Investments

Ep# 103: The High Cost of Complicating Your Investments

We look at the pitfalls of complex investment strategies and emphasize the benefits of keeping things simple. They discuss the importance of trusting market principles, practicing smart diversification, and avoiding performance chasing. With insights from a recent article by Sam Sivarajan on the Canada Pension Plan's investment performance, they highlight how adhering to evidence-based investment principles can lead to more reliable returns and a more secure retirement. Tune in to learn how to maximize your investment returns without unnecessary complexity. Read the full show notes and find more information here: Ep 103 Show Notes

Ep #102: What to Do When Markets Get Scary

Ep #102: What to Do When Markets Get Scary

We discuss the pitfalls of relying on market forecasts and expert predictions during times of market volatility. Emphasizing the inaccuracies of financial forecasts and the psychological tendency to seek out such predictions, they advocate for a disciplined, evidence-based investment approach. Listeners are advised to stick to their pre-planned strategies, diversify globally, and rebalance portfolios regularly, rather than reacting emotionally to market noise. The episode underscores the importance of critical thinking and focusing on long-term financial goals. Read the full show notes and find more information here: EP 102 Show Notes

Ep #101: Going Beyond 'Financial Advisor Near Me' to Find the Right Fit

Ep #101: Going Beyond 'Financial Advisor Near Me' to Find the Right Fit

This episode explores the nuances of selecting an advisor beyond proximity, emphasizing the importance of virtual collaboration, comprehensive planning, and evidence-based investment philosophies. Joe also highlights the value of specialized advice, the pitfalls of advisor diversification, and the necessity of transparent, ongoing communication with your financial team. Whether you're nearing retirement or planning your financial future, this episode has insights to guide you toward financial security. Read the full show notes and find more information here: Ep 101 Show Notes