The Canadian Money Roadmap

EPISODE SUMMARYIn this episode, Evan covers off some rules of thumb for saving for retirement and how to know if you’re on pace.  Evan answers the question of whether you really need $1M to retire. Build your financial plan with Evan✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEHow much do you actually need to save for retirement What impacts your retirement savings needs Savings rule of thumbs and systemsRecommendations to make saving as easy as possible Is $1M the right amount to have for retirement RESOURCES MENTIONEDThe Rule of 30 - book OTHER EPISODES17. Investing Basics Part 1 - Stocks18. Investing Basics Part 2 - Bonds27. Will you Have any Guaranteed Sources of Income in Retirement If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYOn this episode, Evan provides a framework to think about whether your investments are appropriate for your retirement timeline.  Managing risk might mean you need to make adjustments to your portfolio as you get closer to retirement and throughout your retirement years.  ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEInvestment risk and reward Matching risk with your investment timeline How to manage and assess risk OTHER EPISODES26. Rebalance Your Investments 27. Will you Have any Guaranteed Sources of Income in Retirement If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYWhen you're living off your savings instead of relying on employment income, the idea of an emergency fund changes a bit.  Here's a quick episode with what Evan recommends!Continue to follow along through this series by downloading your copy of the retirement readiness checklist below. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEIs an emergency fund still relevant, or required, in retirement How an emergency fund fits into the context of an investment portfolio Concept of a war chest Alternative sources for emergency funding OTHER EPISODES1. Should you Have an Emergency Fund? 22. Optimize your Investments by Plan Type33. Are your Investments Appropriate for your Retirement Timeline?If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYToday’s episode focuses on Old Age Security, another one of the government benefits you may receive.  Evan walks through the basics of OAS, how to qualify, and how much you might receive. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEHow OAS works and what it is How much OAS you could receive How to qualify for OAS Items to be aware of, including OAS recovery tax RESOURCES MENTIONEDGovernment of Canada - OAS OverviewGovernment of Canada - Guaranteed Income Supplement OTHER EPISODES27. Will you Have any Guaranteed Sources of Income in Retirement 30. How Much Will You Get From the Canada Pension Plan?If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYToday’s episode focuses on the Canada Pension Plan.  As CPP will be a component of your retirement paycheque, Evan walks you through CPP specifics and how much you might receive. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEHow CPP works and what it is CPP funding and contributionsHow you can find out how much you might receive Impacts to your payment based on early or late receipt of the benefitRESOURCES MENTIONEDCPP Investments My Service Canada Account Log-In PageOTHER EPISODES27. Will you Have any Guaranteed Sources of Income in Retirement 31. That Other Government Pension Plan…OAS (Old Age Security) If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYSpending is easy, but spending with the goal of reducing your lifetime tax bill isn't as straightforward.  In this episode, Evan explains how your different plans (RRSP/RRIF, LIRA/LIF, Non-registered and TFSA) are treated from a tax perspective and how to prioritize your withdrawals to keep more money in your pocket.Grab your copy and follow along with our retirement readiness checklist series by clicking the link below. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEMaking a retirement savings withdrawal plan Making sure your spending is as efficient as possible to reduce lifetime taxes Different types of retirement accounts and how each one treats tax How to prioritize withdrawals OTHER EPISODES10. Using a TFSA Like a Pro13. Is an RRSP the Best Choice for Your Retirement Savings 22. Optimize your Investments by Plan Type 24. TFSAs are Great but Watch Out…If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYToday’s episode continues our series highlighting the items from my retirement readiness checklist.  Get your copy by downloading the checklist from the link below! Working in retirement is a bit of an oxymoron but many people choose to pick up jobs to supplement their income, stay active or even start a business in a new field entirely! You’ll want to watch out for tax and OAS clawback when earning employment income in retirement.✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEWhy Canadians work in retirement What does retirement employment typically look like How your employment income is taxed How employment income affects other retirement income sources RESOURCES MENTIONEDGovernment of Canada - OAS Recovery TaxOTHER EPISODES27. Will you Have any Guaranteed Sources of Income in Retirement 30. How Much Will You Get From the Canada Pension Plan?31. That Other Government Pension Plan…OAS (Old Age Security) If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYToday’s episode is the first in a series highlighting the items from my retirement readiness checklist.  Get your copy by downloading the checklist from the link below! Having guaranteed income from a pension, annuities or government benefits can be critical to your success in retirement.  These items will form your "income floor,” putting a lower bound on your lifetime income.  Understanding your income floor is a good place to start when planning for a confident retirement!✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEQuick outline of the retirement readiness checklist Possible sources of guaranteed income in retirement Pensions, annuities, CPP, OAS Understanding your income floor RESOURCES MENTIONEDGovernment of Canada - CPP OverviewGovernment of Canada - OAS OverviewOTHER EPISODES30. How Much Will You Get From the Canada Pension Plan?31. That Other Government Pension Plan…OAS (Old Age Security) If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYOver time your investment portfolio will move along with the market.  Stocks and bonds will move at different speeds and sometimes in different directions.  These investments in your portfolio won’t stay in the perfect split that you want.  To keep your risk profile in check and take advantage of lower prices in other assets, rebalancing is your friend!✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEWhat is target asset allocationWhat might lead you to need to rebalance Methods to rebalance Rebalance frequency OTHER EPISODES20. Understanding Investment Risk 21. Stocks, Bonds, or Cash? How do you Decide?37. Dips, Corrections and CrashesIf you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYHere are a few ideas to help you contribute money to a spousal RRSP in a high tax bracket and withdraw in a low bracket in the future. In the right situation, you can drastically reduce your lifetime tax bill by using a spousal RRSP correctly. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEWhat a spousal RRSP is Why you might want to use a spousal RRSP Examples of a spousal RRSP in action Tax savings and other considerations RESOURCES MENTIONEDGovernment of Canada - Spousal RRSPsOTHER EPISODES13. Is an RRSP the Best Choice for your Retirement Savings29. RRSP, LIRA, TFSA…Where do you Withdraw From First? 38. The Perfect RRSP Strategy If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet