"Unretired" & Inspired - A Retirement Planning Podcast

Caleb and Riley discuss home equity - often referred to as your ‘retirement backup plan’. Home equity can be used like a parachute and keep your retirement from crashing into the ground. Many people don't consider their home an investment that can be used for retirement cash flow, they may even view it as as financial suicide. But if it is used correctly, home equity can add to the robustness of your retirement. Learn more about: The three different ways you can tap into your home equity Why you shouldn’t feel guilty about using home equity How home equity as an asset that can be used while your living, and while living in your home and doesn’t necessarily have to be an inheritance Memorable Quotes: “Reverse mortgage debt hit a new record , this year (2022) in February of 5.4 billion (up 18% since the year before).“ “If your in a position where you require more funds to cover your expenses and you are looking to use the equity in your home, you shouldn’t go straight to one product thinking it’s the answer. You have options to consider.” Resources: Canadian Senior Homeowners Borrowed $5.4 Billion In Reserve Mortgage Debt Canada.ca on Reverse Mortgages House rich: How to access the equity in your home Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts

Today, Caleb and Riley are talking about a brand new innovative retirement product that has hit the market. Canada's rollout of the “Tontine!” For North America it is a product that is exclusively available for Canadians. This is exciting because anything we can do to out do our American neighbours to the South is a win in our books. It's also exciting because it was developed to specifically address an area that is near and dear to our hearts, a problem coined as “the retirement dilemma”. Learn more about: Canada’s new innovative retirement solutions to address todays ‘retirement dilemma’. A basic understanding of what a tontine is and how it works and why it could be an important product for retirees. What others are saying about these products and the risks and concerns that should be considered. Memorable Quotes: “When it comes to the ‘retirement dilemma’, guard rails solves this from a financial planning perspective. Tontines however offers a solution from an investment product perspective.“ “In Canada today people are living longer then ever before...the number of Canadians aged 85 or older has actually doubled since 2001 and researchers have said it could triple by 2046.“ Resources: Tontines in Canada: Moving from theory to practice as a solution to our retirement crisis Guardian: Full video explainer with Moshe M. (30 min) Guardian Capital Longevity Solution overview The Retirement Dilemma Whitepaper Simpsons episode on tontines Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts

Caleb and Riley are joined by Angela Yee-Hamshaw to discuss all things wills and estates. Angela is a Wills & Estate Lawyer at Masuch Law. She has read thousands of wills, some great and some not so great. Together we learn what makes a good will and why Angela calls some wills “fictious”. Do you have questions on probate, beneficiaries, handwritten wills or naming an executor? Angela helps us navigate all of these questions and more. Learn more about: What differentiates a good will from a bad will, and some stories of things that have gone really wrong Key areas to pay closer attention to when drafting your will Why wills are so important, when to update your “6 pack” and how to eliminate any deficiencies Resources: Website: Angela Yee-Hamshaw Masuch Law Email: angelayh@masuchlaw.com Phone: 403 543 1100 Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts

Caleb and Riley discuss putting together your retirement advice team. A key to a robust retirement is having the right individuals on your retirement team. Many great things in this world have been accomplished when a team of extraordinary people work together for a similar purpose. Whether you are a family, a sports team, a company, or an entire country... this concept holds true. We certainly are better together. So why should this be any different for our retirements? Learn more about: Who are the primary team members that you need to create your robust retirement A recommended way to go about finding and building that team InvestorDNA’s philosophy on referrals Memorable Quotes: “Creating your retirement dream team isn’t always easy. It requires an in-depth understanding of the jobs to be done so that you can determine the most important components of a successful retirement, and the people that would be best fit to deliver those components.“ “Building a retirement, and investing to make money are not synonymous concepts. Former is retirement, or decumulation, and the latter is called saving or accumulation. Retiring marks this transition point from accumulation to decumulation. So it is important to know that we don’t build accumulation plans, we build decumulation plans.” Resources: Episode #19: Rich vs. Wealthy Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts

Caleb and Riley are speaking with Michelle Sharpe, a Canadian successfully moved her life to Central America to semi-retire in Belize. Michelle and her husband Ed are from a small town in Northern Ontario. After several winter getaways to the Caribbean, Michelle and Ed thought, why don’t we just work and live somewhere warm. Join us to hear Michelle’s advice on the logistics of moving abroad, purchasing real estate, becoming a resident, paying taxes, getting health care and much more. Learn more about: The important financial considerations and questions to ask and the trade-offs that are made when retiring abroad Unique insights and stories from a Canadian couple that have semi-retired in Belize, have become Belize residents and started a business. Finding the inspiration to escape the snow and to live retirement near the beach in a beautiful tropical part of the world. Michelle and Ed’s vacation Cabana business JJEM Cabanas Resources: JJEM Cabanas Website JJEM Cabanas Facebook 1st Choice Belize Real Estate Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts

Caleb and Riley discuss the benefits of living a more minimalist life. A new Netflix documentary titled, ‘Minimalism: Less is now’ offers a fresh perspective on minimalism and the many ways it can help us find satisfaction in life. Learn more about: How a shift in perspective on wealth can possibly undo decades of corporate brainwashing Re-evaluating your life in terms of where you truly find happiness and how to incorporate small minimalist habits Finding a new sense of security in the idea that you have much more then what you need and your financial worries can be finally put to rest Memorable Quotes: “Marketers are really impressive at their ability to manipulate the mind in their ability to create a need or a perceived need out of something that was a want. We live in the most advertised-to culture in the history of the world. Think about that. Billions of dollars are spent telling us we need things, is has an effect.” “The things we accumulate weigh us down much more than we think.” “Minimalism doesn’t mean having nothing, it means getting rid of the things that are not functional. That you are not using in your life.” Resources: Episode #19: Rich vs. Wealthy Netflix The Minimalists: Less Is Now Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts

Caleb and Riley discuss whether an individual with some ‘extra cash’ should pay off debt or invest. Often people are divided into two camps in how they think about this question. Some people are mathematical about it, they will choose the option that maximizes their wealth. Others approach it emotionally and choose the option based on how investments and debt make them feel. Which camp do you think you fall into? Do you know how to calculate which option is mathematically better? Let us share with you a framework for helping you make the best decision. Learn more about: A framework to help you decide whether investing or paying off debt would be best for you An appreciation for the complexity of this decision and why each persons circumstance is unique The trade-off’s between investing and paying off debt Memorable Quotes: “First of all, if you are asking yourself this question you are winning already. Choosing between investing and paying off debt is already so much better than upgrading your phone or some other consumable.” “ I think if you come at this question with the framework and thought process we went over today, then there is is no doubt in my mind that you will be making a winning decision.” Resources: Benefits of a Paid Off House Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts

Would someone describe your finances as ‘having things everywhere’? Throughout life have you been opening accounts here and there and but never closing any? We’re not here to judge you, actually having scattered accounts may work for you when your saving, but if you’re close to or in retirement it’s definitely not optimal. Today Caleb and Riley discuss asset consolidation and why it can be a wise and helpful financial planning decision. Learn more about: The cost of delaying the decision to consolidate, and the real detrimental financial implications How to be motivated to make the decision to consolidate and why this is a wise and impactful life decision Misconceptions of what good consolidation is and what it isn't Memorable Quotes: “I think asset consolidation is one of those areas that people just don’t fully understand. Because often the end state feeling of the solution is sometimes what is being sold.” “Consolidation is more than just about being more diversified, it also allows your advisor to properly implement withdrawal strategies, rebalance, etc....” “If a retiree never runs out of money and they can spend confidently, without also passing away with too much unspent savings, then we have been successful. We do this by systematically alleviating all of the uncertainties that people have in regards to how long their money will last.“ Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts

Caleb and Riley are joined by Warren Kay to discuss senior housing, retirement community's and the various options available. Warren Kay is Marketing Manager at Charis Village, a unique senior housing and retirement community in Lacombe, Alberta. Warren also has a unique background, previous to Charis he was as a pastor for 40 years! In this episode we dive deeper into the various levels of care, what to expect for costs and highlight this specific new retirement community. Learn more about: The various retirement living options, levels of care and how to know what you want What to expect for costs and availability Insights into Charis Village and what makes it unique Resources: Charis Village ReDiscovering God: Warrens podcast and YouTube channel Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts

Caleb and Riley discuss aging, health and how this is often an underestimated area of our retirement planning. How long should we plan for our finances to last? Will we encounter daunting health care costs? The number of Canadians aged 100 or older has increased from just 1,065 in 1971 to 9,545 in the 2021. Listen in to understand how we can better navigate changing health as we age and maintain a robust retirement. Learn more about: How changing health affects lifestyle and finances in retirement The health related expenditures retirees may encounter in retirement in Canada and the living situation changes that go along with it How to make robust assumptions about our health and longevity in our retirement plans The ways we can plan in advance of declining & changing health to avoid being a burden to family members Memorable Quotes: “On Average inflation the last 30 years has been about 2%, meaning if you were spending $48k/year in 1992, you need $87k to purchase the same goods today!” “The average national cost of a private room in a long-term care home is $33,349 per year.” “By planning to live to age 100, you have a very little risk of running out of money, great! You’ve brought down the risk of outliving your money less than 10%. But you’ve also increased the risk of underspending by 90%! Resources: FP Canada Guidelines Help Clients So Much More by Being Proactive Instead of Reactive The Price of Public Health Care Insurance Number of Canadians living to 100 hit a record high, new census figures show Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts