The Canadian Money Roadmap

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 PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? 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 PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? 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 PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? 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 PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? 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 PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? 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 PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYTFSAs are the best way to invest smarter and reduce taxes over the long term.  But you’ll want to be careful of some of these critical pitfalls that can get you into trouble.✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEQuick refresh on what a TFSA is and how it works Explanation of TFSA contribution room and how it accumulates Overcontribution rules and penalties How you can’t claim capital losses in a TFSA RESOURCES MENTIONEDGovernment of Canada - TFSA GuideOTHER EPISODES10. Using a TFSA Like a Pro29. RRSP, LIRA, TFSA…Where do you Withdraw from First? 36. 5 Steps to Set Up Your TFSA for 2022 If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYWhile some people think that investing is essentially gambling, Evan uses this episode to explain how investing is the opposite of gambling when you have time on your side.✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEEvan’s thoughts on taking investing advice from the media How investing is not the same as gamblingHow long term investing is in your favour RESOURCES MENTIONEDMorningstarOTHER EPISODES17. Investing Basics Part 1 - Stocks18. Investing Basics Part 2 - Bonds20. Understanding Investment Risk If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYEvan and Steven are back to discuss where to invest your stocks and bonds to save as much tax as possible.  If investment income is taxed in different ways (interest vs capital gains vs dividends) and each plan type (RRSP vs TFSA vs Non-Registered) creates taxable income in different ways, you need to have a plan to invest with the goal of reducing taxes over time.✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEPre-tax vs after-tax returns Various types of investments accounts - TFSA, RRSP, Non-registered Types of income and how they are each taxed - interest, dividends, capital gainsHow each investment account treats tax Pairing asset allocation with investment plan type  OTHER EPISODES7. Tax Basics and “The Next Bracket” Myth 10. Using a TFSA Like a Pro13. Is an RRSP the Best Choice for your Retirement SavingsIf you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYWhen building an investment portfolio, the mix between stocks, bonds, cash and other assets is called Asset Allocation. Steven Guenther, CFP, joins me again to discuss this critical aspect of building an appropriate portfolio you can stick with for the long term.✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEDefining various asset classesWhat asset allocation means Understanding how asset allocation impacts your portfolio Deciding on your asset allocation and finding the appropriate investment to matchOTHER EPISODES17. Investing Basics Part 1 - Stocks18. Investing Basics Part 2 - Bonds33. Are your Investments Appropriate for your Retirement Timeline?If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet