In this episode I welcome back my wife Robin, a certified life coach and member of our Living Richer Wealth Team. Today we’ll highlight our six top tips to making a smooth transition into being an empty nester, which include: Understanding that for everything there is a season Focusing on physical health Celebrating your child’s independence Finding your purpose and feeding your passions Making plans Improving your financial health Resources ..read more

2023 was a year of rapidly rising interest rates and inflation that has forced us all to consider cost-saving opportunities. That’s where tax planning come in - after all, it’s not what you make, it’s what you keep! As we approach year-end, there are a few strategies that you might want to take advantage of to reduce your current and future tax bill. In this episode we’ll cover: ·      Important tax dates (2:50) ·      Where to get started (4:52) ·      Important moves to consider (6:42) ·  &nbs ..read more

With higher inflation, higher interest rates, a potential recession on the horizon and economic headlines flooded with negativity, many are feeling scared and concerned about their financial future. In this episode, my associate, Carol da Silva and I address some of the concerns we’ve heard from clients and listeners. Some of the topics we discuss: 1.      Why having a solid financial plan is helpful and the importance of taking inventory of where you are when circumstances change (I go through this exercise in detail in Ep.3 Financial Discovery). 2.  &n ..read more

While the idea of living out your retirement years at home may be appealing, there are some important considerations from both a financial and a lifestyle perspective. For starters, the cost of aging in place is significant. In fact, a recent survey revealed that only 12% of respondents have enough room in their budget to do so. For many homeowners this requires accessing the equity in their single largest asset - which means selling their house. In addition to the financial considerations, aging in place also has important physical and social challenges. In this episode, I connect with Michae ..read more

When planning for retirement, most people don’t focus on health concerns, yet the reality is that seven out of 10 people over 65 will eventually need long-term care.  This can have a major impact not only for an individual but also for the entire family. In this podcast, I interview elder care consultant Jeanette Bock. Jeanette works with seniors and families to guide them through the many life choices they face as they age. During our discussion, Janette shared her top planning tips to ensure you or an aging loved one can make informed decisions to ease life transitions. We discuss how b ..read more

1. Why a Will is the cornerstone of a good estate plan. Get to dictate where assets go, guardian of children, who administers estate Without a Will, the law decides who gets assets and it’s not necessarily all to a spouse Streamlines estate administration and can help to reduce taxes/fees on death 2. What makes for a good Will? Revokes previous Wills Names executor and alternate Disposes of household items Gifts Residue – no missing pieces Administrative provisions – a few pages at least Signed and witnessed 3.  Beyond the Will, what should someone pay attention to wh ..read more

Our Living Richer Wealth Management team works with clients to help them navigate many different life transitions, and there are few things more life changing than becoming a parent. This week, I’m happy to welcome Carolina Da Silva, a Living Richer team member and expectant mom, to discuss all the things you need to know, and do to prepare financially for this new beginning. In this episode we’ll cover: Details on government benefits, who can qualify and how to get them. What you need to know about your health benefits from work. Budgeting for a new baby and how to prepare in advance. H ..read more

When most people think about insurance, they think about it in terms of risk management. And that’s what the majority of the insurance is designed for. Car insurance covers you in case you get in an accident. You might get critical illness insurance, disability or life insurance to protect you and your loved ones from those risks. What most people don’t know is that insurance can be used strategically, not only in risk management but for complex estate planning, income generation and tax minimization. In this episode, the final of a three part mini series, our estate planning specialist Greg J ..read more

In this second of our three-part series on insurance, I continue my conversation with Raymond James Ltd. estate planning advisor Greg Jizmejian. In this episode Greg explains the difference between term and permanent insurance and when they should be considered. We also look at why people in the 40-60 age range should consider insurance and how it can be used to help build wealth, reduce taxes and aid in intergenerational wealth transfer. Finally, we discuss how business owners and professionals, like doctors, dentists and lawyers can leverage permanent insurance as part of a business growth s ..read more

In this first of a three part mini-series, I interview estate planning advisor Greg Jizmejian to discuss the insurance needs of younger individuals and families. Broadly speaking, those between 25 - 40 years old. We discuss what risks are most prevalent and what types of insurance should be considered. Unlike other products, insurance is something you buy when you don’t need it. It's like a redundancy plan. It provides you with the comfort of knowing that it will be there as a backstop if your main plan falls apart. For example, although many people believe that the biggest reason for home for ..read more