The Canadian Money Roadmap

Retirement is a time to enjoy the fruits of your labor, whether it's traveling, spending time with family, or fulfilling your bucket list. In this episode of the Canadian Money Roadmap Podcast, we present 15 critical questions to gauge if you're truly ready for retirement. From understanding your vision for retirement and calculating expenses to planning for healthcare costs and managing risk, these questions will help you plan a confident and fulfilling retirement.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

In this episode of the Canadian Money Roadmap Podcast, Evan Neufeld discusses seven strategies to manage investment risk in your portfolio as you prepare for retirement. Topics include diversification, rules-based implementation, adding bonds, holding cash, annuities, deferring CPP, and using put options. These methods aim to help you retire with confidence while reducing the volatility and uncertainty of your investments. Remember to consult with a financial professional before making any changes to your portfolio.00:00 Introduction: Politics and Your Portfolio00:23 Seven Ways to Manage Investment Risk00:53 Diversification: Don't Put All Your Eggs in One Basket02:13 Rules-Based Portfolio Implementation05:26 The Role of Bonds in Your Portfolio06:09 Cash Wedge Strategy08:11 Exploring Annuities09:55 Deferring Your CPP for Better Returns11:06 Using Options for Portfolio Insurance12:17 Conclusion and Final ThoughtsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Become a client in 2025In this episode of the Canadian Money Roadmap Podcast, we explore financial and retirement planning tailored for single individuals in Canada. With nearly 30% of Canadian households being single-person households, it's vital to highlight the unique benefits and strategies available for singles. From decision-making ease to agility in financial planning, we discuss the advantages and key priorities for singles aiming to retire with confidence. Additionally, we cover high savings rates, pensions, insurance needs, and the importance of professional financial planning. Tune in to get practical tips and insights specifically for single Canadians.00:00 Introduction: Financial Planning for Singles in Canada00:39 Understanding Singleness: Different Scenarios01:39 Advantages of Being Single in Financial Planning06:30 Successful Financial Strategies for Singles10:25 Priorities for Single Individuals20:09 Conclusion and Final ThoughtsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Discover how spousal RRSPs can supercharge your retirement savings! Learn strategies for high-income earners to contribute under their partner's name for ultimate tax benefits. The discussion highlights real-life scenarios demonstrating how to navigate spousal attribution rules and the importance of minimum withdrawals. Plus, find out how to leverage these funds for TFSA contributions, keeping your money tax-free. Get ready to optimize your financial future!

Explore the upcoming changes in retirement income for Canadians in 2025. Discover how RRSP to RIF conversions will affect minimum withdrawals and tax implications. Delve into the nuances of LIFs and the impact of inflation on CPP and OAS benefits. Gain practical insights for navigating these financial shifts and ensure your retirement is well-planned and secure. This discussion is a must-listen for anyone preparing for their golden years!

Get ready for some significant changes in Canadian income tax for 2025! The government is rolling out a 2.7% increase to tax brackets to keep pace with inflation. While many benefits like tax credits will see adjustments, some areas, including CPP death benefits and RRIF withholding tax, remain stagnant. Discover how these shifts could impact your financial landscape and the importance of proactive planning for future investments and retirement.

Explore practical strategies to save money effectively for 2025. Learn how reassessing regular expenses can lead to significant savings. Discover tips for finding cheaper alternatives without sacrificing quality. Uncover ways to cut non-essential recurring costs, and save on travel expenses. Techniques for maximizing your savings are shared to help you achieve your financial goals. Start your New Year's resolution with powerful insights that enable you to spend less and save more.

As the year wraps up, key strategies for boosting financial health are unpacked. Learn about the benefits of opening a first home savings account and effective tax loss harvesting. Discover the timing for TFSA redemptions and how charitable giving can enhance your tax situation. Important updates for RRSP and RESP contributions are highlighted, along with RRIF conversions and insights into registered disability savings plans. Equip yourself for financial success as 2025 approaches!

Explore the advantages of using Tax-Free Savings Accounts for retirement income. Discover how TFSAs can provide tax-free cash flow, handle unexpected expenses, and support estate planning. Learn the differences between TFSAs and other savings options like RRSPs. The conversation highlights how these accounts can drastically reshape your retirement strategy and leave a tax-free legacy for your loved ones.

Discover seven actionable strategies for a vibrant retirement! Learn how to create a retirement vision that adds structure to daily life. Embrace lifelong learning to acquire new skills, and foster intentional relationships to enrich your social circles. Prioritize your health and wellness while giving back to the community through volunteer work. Unleash your creativity with hobbies that spark joy and consider the legacy you want to leave behind. Transform retirement into a purposeful and fulfilling journey!