"Unretired" & Inspired - A Retirement Planning Podcast: Recent Episodes
Caleb Miller, Riley Anderson
Whether you call it: Retirement, re-wirement, re-tryment, your encore, second act, or next chapter; the point is: retirement no longer has a clear definition. The traditional view of retirement is outdated and new frameworks for managing our money and time are needed.
Welcome to 8000 days. A podcast where together we discuss retirement; what's working, what's not , and what changes are needed for us to achieve the most robust retirement possible.
Join Caleb Miller and Riley Anderson of InvestorDNA to help you plan for retirement, work with a Financial Advisor, find purpose after retiring, and many more retirement planning tips along the way.
Be sure to rate and subscribe to Awe-Inspired and Retired on Apple Podcasts, Spotify, or wherever you listen for new episodes every week.
https://investordna.ca/
Formerly “Awe-Inspired and Retired”. Welcome to 8000 days. Caleb and Riley are joined by Michelle Oram who has plans to retire in the next 3 months. Having been employed with the same employer for 23 years, this is going to be a big change. Learn more about:
- Practical advice on tax-efficient strategies for transferring wealth to the next generation, balancing legacy with personal fulfillment.
- The value of continuing personal growth and exploration in preparing for retirement, from pursuing passions to discovering new interests.
- The importance of staying engaged and relevant in your career, and how this mindset impacts your transition into retirement.
Resources:
- To take the giving while living vs giving at death quiz, email randerson@investordna.ca
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
Formerly “Awe-Inspired and Retired”. Welcome to 8000 days. Caleb and Riley are joined by recent retiree Michelle Lennox. Michelle recently retired, but it may not appear that way. She is still working and earning an income, she volunteers on boards, works with start-up founders and runs marathons. It’s possible she is more busy now than while working FT. Speaking with Michelle now, you would think she mastered retirement on her first try, leaving behind her full-time corporate position, without any hiccups or challenges along the way. Unfortunately that wasn’t the case. Today we get to hear directly from Michelle on how she is navigating her own retirement; from the highs and lows, the challenges, the surprises, to the lessons learned along the way. Learn more about:
- How retirement offers a unique chance to rediscover old passions and explore new hobbies, enriching your life beyond work.
- Advice from a recent retiree on making the most out of retirement, including how to plan for the future with optimism and purpose.
- How to unwind decades of accumulation thinking to instead have a decumulation mindset so you can spend freely without compromising financial security.
Resources:
- Research Paper: Guaranteed Income: A License to Spend: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3875802
- To take the Maximizer vs Satisficer quiz, email randerson@investordna.ca
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
Join Caleb and Riley for episode one of the newly named 8000 days podcast. Resources:
- https://www.hartfordfunds.com/insights/investor-insight/navigating-longevity/8000-days-of-retirement.html
Email Caleb: cmiller@investordna.ca
Text Riley: 403-393-8237 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 Dr. Christina Pierpaoli Parker, PhD, a Board-certified Clinical Psychologist and Director of the Integrated Behavioral Medicine Service at the University of Alabama Birmingham (UAB) specializing in adult and geriatric behavioral medicine. Christina’s thoughts have been featured in The New York Times, Washington Post CNN, and CNBC. She writes a blog called Eng(aging) for Psychology Today, which translates clinical science about aging and health into practical takeaways for optimizing physical and psychological wellness. In this episode we dive deep in the science of sleep and how optimize your sleep in retirement. Learn more about:
- How to optimize your health and wellness with specific strategies for sleep, movement and relationships.
- How a renowned clinical psychologist specializing in adult and geriatric behavioral medicine defines a successful retirement and tips on aging gracefully
- The physiological factors that predict a successful retirement
Resources:
- Website: https://www.christinapierpaoliparker.com/
- Instagram: https://www.instagram.com/theageambassador/?hl=en
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Caleb and Riley are joined by Theoren Fleury, Canadian former professional hockey player, author and motivational speaker. Theo was drafted by the Flames at the 1987 NHL Entry Draft, and played over 1,000 games in the NHL between 1989 and 2003. Theo is not known not just for his electrifying career in the NHL though, but also for his courageous journey off the ice. Theo has turned his personal battles with trauma, addiction, and recovery into a powerful message of resilience and leadership. Through his motivational speaking and work with Fleury Enterprises, he inspires others to find their voice, embrace vulnerability, and take action towards healing and empowerment. Today, Theo joins us to share his insights on overcoming life's challenges, the importance of self-leadership in retirement, and how to live a life filled with purpose and passion. Learn more about:
- The untold stories of Fleury's life, revealing the complexities of identity and resilience beyond the ice rink.
- The emotional and financial preparation required for a successful transition from a professional sports career to retirement.
- The impact of sharing personal stories on healing and empowerment, both for the storyteller and their audience.
- Fleury's unique perspective on achieving fulfillment in life after professional sports, offering valuable lessons for those seeking purpose in retirement.
Resources:
- Book: Playing With Fire on Amazon: https://www.amazon.ca/Playing-Fire-Highest-Highs-Lowest/dp/1554682401
- Website: https://theofleury.life/
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Caleb and Riley are joined by Moira Welsh, Journalist at the Toronto Star and author of Happily Ever Older. Moira Welsh is a Toronto Star journalist leading The Third Act project, pushing for changes in the way older adults live. The winner of two Canadian Association of Journalists Awards and three National Newspaper Awards, she is also the author of “Happily Ever Older: Revolutionary Approaches to Long-Term Care.” Learn more about:
- Groundbreaking solutions being created and tested for vibrant retirement living that defy conventional norms.
- How to navigate the challenges of aging in a rapidly changing world, and find inspiration for your own retirement journey.
- Insights into the pressing issues facing older adults and explore actionable steps to shape a brighter future for seniors.
- Why Canada's demographic shift to a "super-aged" country demands innovative approaches to healthcare and long-term care.
Resources:
- Moira on: LinkedIn: https://www.linkedin.com/in/moira-welsh/?originalSubdomain=ca
- Book: Amazon: Happily Ever Older https://www.amazon.ca/Happily-Ever-Older-Revolutionary-Approaches/dp/1770415211#:~:text=Happily%20Ever%20Older%20is%20a,reason%20to%20go%20on%20living.
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Caleb and Riley are joined by Mary Morency a Retirement coach and co-author of “Rethinking Retirement”. Mary, is a ”retired” Human Resources and Organizational Development leader with over 30 years of experience, Mary has always been passionate about developing human talent and facilitating change within organizations and with individuals. She views her Retirement Coaching practice as a continuation of a lifelong passion for helping people develop their potential. She is convinced that in retirement, ”the best is yet to be!'' Mary works with her colleague, Jeannette Lalonde, Jeannette Lalonde, who could not join us today, and together they co-authored the book “Rethinking Retirement”. Based in Montreal, Mary and Jeannette are helping individuals prepare for a balanced lifestyle, remain positive, and flourish during their retirement years. Learn more about:
- The stages of transition into retirement and how to navigate the challenges and opportunities of each phase.
- Insights into the four key areas crucial for a flourishing retirement: contribution, well-being, connection, and purpose, as outlined by experienced retirement coaches.
- Personal stories of transition from successful careers to retirement coaching, providing real-life examples of adapting to change.
Resources:
- Website: https://coachingretraite.ca/
- Book: Rethinking Retirement - A Guide for Making Choices, available at Amazon.ca
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Caleb and Riley are joined by Mardi Tindal, a writer, adult educator and who we might say has become an expert on the topic of coliving. Mardi joined forces with friends, to create their own coliving community. After many years of wading through legal options, creating legal documents, real-estate viewings and architectural drawings, they’ve now created a really amazing coliving arrangement on a beautiful Lakeside property. Mardi is known for her leadership locally, nationally and internationally, as a faith leader active in UN Climate negotiations from Copenhagen (2009) to Paris (2015), and has been described by Canada’s largest circulation newspaper as “a compelling voice”. Learn more about:
- The real-world process of establishing a coliving community.
- How coliving redefines retirement with shared experiences and its suitability for different lifestyles.
- Practical tips for a fulfilling retirement
Resources:
- Mardi on LinkedIn: https://www.linkedin.com/in/mardi-tindal-477bb523/?originalSubdomain=ca
- Center for Courage & Renewal: https://couragerenewal.org/
- Oakville Coliving: https://www.oakviewcoliving.com/
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Caleb and Riley are joined by Dr. Leigh Vanderloo, Scientific Director at ParticipACTION. Dr. Vanderloo received her PhD in Health Promotion from the University of Western Ontario in 2016. Her area of research focuses on the objective measurement of physical activity and sedentary time, and how these behavior's impact physical, mental, and social well-being. Learn more about:
- The science behind why physical activity becomes even more crucial as you age, beyond just weight management.
- The national guidelines for physical activity and the surprising amount of Canadians meeting the standard.
- Discover the types and amounts of physical activity that are most beneficial for older adults and learn about real-world activities that are not only good for your health but also enjoyable.
Resources:
- ParticipACTION annual report card
- Leigh Vanderloo on LinkedIn
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Caleb and Riley are joined by John Kralik, author of "365 Thank Yous, the Year a Simple Act of Daily Gratitude Changed My Life". The book that tells the story of how John wrote 365 thank-you notes to people he encountered in his everyday life over the course of a year. John was born in Cleveland, Ohio, and attended the University of Michigan, from which he received a B.A. (1975) and then a J.D. (1979). After that, John practiced law in Los Angeles for 30 years. In September 2009, John was appointed by Governor Schwarzenegger to be a Judge of the Los Angeles Superior Court. In this episode we are going to discover this intersection between gratitude and retirement, and how living life in this way, can shape a fulfilling post-career life for you. Learn more about:
- The transformative power of simple acts, and how writing just one thank-you note a day can profoundly change your life.
- The art of expressing gratitude through thank-you notes and what distinguishes a heartfelt message from a generic one.
- The profound intersection of gratitude and retirement, and how these two concepts can shape a fulfilling post-career life.
Resources:
- John Kralik’s website: https://johnjkralik.com/
- John Kralik on Amazon: https://www.amazon.com/stores/John-Kralik/author/B003YO4YLU?ref=ap_rdr&store_ref=ap_rdr&isDramIntegrated=true&shoppingPortalEnabled=true
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 Nan Ives and Lisa Stornaielo, of “The Future of You”, an organization with a mission to help individuals discover their ultimate life in retirement. Today we are going to make the case as to why you probably need to adopt a framework to help you figure out what your life in retirement will look like. Lisa and Nan are former financial services professionals who, upon taking early retirement, recognized the need for a holistic approach to retirement planning. While many services focus solely on finances, they saw retirement as an opportunity to rebalance not just portfolios, but also lives. Using design thinking, a methodology centered on understanding real users' needs, they immersed themselves in the pre-retiree experience, gathering insights from over 50 individuals. Combining this with their background in leadership development and career coaching, they've crafted a roadmap aimed at helping retirees find a fulfilling balance of work, leisure, and purpose. Learn more about:
- How design thinking can revolutionize your perspective on retirement, ensuring it's more than just financial stability.
- How retirees can recapture a powerful sense of purpose and direction in their post-professional lives.
- The benefits and potential pitfalls of 'reTRYment' and the importance of diversifying your passions and interests.
Resources:
- Website: http://futureofyou.com/
- Contact Nan: nan@thefutureofyou.com
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Caleb and Riley are joined by Dena Silverberg for a deep dive into world of social prescribing and senior wellness. In this episode Dena is going to help us really define this idea for us today, and even the role it can play in finding fulfillment, connection and ultimately living life more richly. Our ultimate goal for you in today’s episode, is to help you to uncover a new pathway for your retirement, one that gives you a more connected and engaged life as an older adult. Prior to joining OACAO, Dena was the Vice President of Health and Wellness at Better Living Health and Community Services and worked there for 22 years overseeing various departments including Senior Active Living Centers, Adult Day Programs, Exercise and Falls Programming, Social Work Services, Volunteer Services and Hospice and Palliative Care Services. Learn more about:
- The profound effects of social engagement on seniors, and the real-world difference between having it and lacking it.
- The optimal age and ways to benefit from Senior Active Living Centers for a richer, socially connected retirement.
- Insights into where social prescribing is headed, its impact, and the challenges it faces.
Resources:
- Contact Dena: dena@oacao.org
- https://open.alberta.ca/publications/directory-of-seniors-centres-in-alberta
- https://www.allianceon.org/Social-Prescribing-Conference
- www.oacao.org
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Caleb and Riley are joined by Corey Mackenzie from the Centre on Aging at the University of Manitoba. Corey is a Professor and Director of Clinical Training in the Department of Psychology, Adjunct Professor in Psychiatry, and a Research Affiliate with the Centre on Aging at the University of Manitoba. He received his Ph.D. in Clinical Psychology from Queen’s University and completed his predoctoral internship at Baycrest in Toronto. He is a registered Clinical Psychologist with the Psychological Association of Manitoba. Together with his collaborators and students, Corey has published 78 articles in peer-reviewed journals and 11 book chapters. He is a member of the Editorial Board for the journal Aging & Mental Health and has received numerous awards for his research and teaching. Learn more about:
- The myths and misconceptions surrounding mental health and aging with expert insights from Professor Corey Mackenzie.
- Actionable strategies for supporting yourself or your aging parents facing mental health challenges.
- The most pressing concerns in the realm of mental health research and potential breakthroughs being sought after by researchers.
Resources:
- http://www.coreymackenzie.com/
- Corey on LinkedIn: https://www.linkedin.com/in/corey-mackenzie-13a53585
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Caleb and Riley are joined by Christine Gordon, Executive Director at the Alzheimer's Society. Christene has been with the Alzheimer's Society in various roles for over 30 years delivering consistent, person-centered programs and partnerships. Unfortunately, experiencing a form of Dementia is common, and can often emerge as we progress in our retirements. The annual cost of dementia to the Canadian economy and healthcare system is over 10 Billion dollars, and it’s affecting over half a million people in Canada alone. So we all need to have compassion. And to borrow a quote I came across “Those with dementia are still people and they still have stories and they still have character and they are all individuals and they are all unique. And they just need to be interacted with on a human level”. The goal of todays episode is to help teach us all about what dementia truly is, and the ways in which we can create and access support for it as a community. Learn more about:
- The mysteries of dementia and Alzheimer's, exploring its stages, risk factors, and the human experiences behind it.
- Common misconceptions and uncover the unseen realities faced by those living with dementia.
- How to best support and empower people with dementia within your community and daily life.
- The most effective tools, apps, and partners available for care and support.
- Christene's personal insights on retirement and dementia, offering a unique perspective on how to prepare for a meaningful future..
Resources:
- Alzheimer’s Soceity
- Christene on LinkedIn
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Caleb and Riley are joined by Cynthia Covey Haller, co-author of Live Life in Crescendo. Cynthia is an author, teacher, speaker, and active community member. She has contributed to the writing of several books, two with her brother Sean, and most recently she co-authored her late father, Stephen Covey’s ‘last big idea’ and final book titled: “Live Life in Crescendo”. Learn more about:
- Why Cynthia Covey Haller believes your most important work is always ahead of you, and how this mindset can revolutionize your approach to life and retirement.
- The transformative power of service in retirement, with inspiring stories of individuals who found renewed purpose through helping others in their later years.
- The profound importance of valuing relationships over material things, including practical tips on how to continually prioritize people over possessions for a richer, more fulfilling life.
Resources:
- Amazon: Live Life in Crescendo
- Cynthia on LinkedIn
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Caleb and Riley are joined by Fritz Gilbert, the producer of the award winning blog, The Retirement Manifesto. His mission is to Help People Achieve a Great Retirement. On the blog he provides practical financial independent and retirement planning guidance for people within ten years of retirement.... Fritz has thought about retirement, a lot! He has been thinking and writing about retirement while he was preparing for, transitioning into and now living in retirement! His 400+ articles are full of wisdom and in this episode we dig deeper into some of his biggest learnings. Learn more about:
- The 90/10 Rule: Discover the surprising mindset shift that Fritz experienced post-retirement.
- Fritz's Ultimate Pre-Retirement Checklist and how to navigate your pre-retirement years.
- Avoiding retirement pitfalls and uncover common "retirement blind spots" and how to sidestep them.
- Fritz's "10 Commandments of Retirement" for a fulfilling and purposeful retirement life.
Resources:
- https://www.theretirementmanifesto.com/
- Blog post: The Ultimate Retirement Planning Guide
- Blog Post: Introducing The 90/10 Rule of Retirement
- Blog Post: The Ten Commandments Of Retirement
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Caleb and Riley are joined by Dr. Moynes is a successful author and public speaker with several best-sellers to his credit. Whereas most retirement-focused books emphasize the investment, insurance and estate planning aspects, Riley emphasizes the psychological changes and challenges that almost every person experiences when they retire. His 2022 TEDx Talk based on this best-selling book is fantastic and was viewed by over 3.5 million people in just 11 months. Learn more about:
- The Psychological Side of Retirement: Delve into the emotional and psychological challenges faced during retirement, beyond just the financial.
- The Four Phases of Retirement: Understand the unique stages of retirement and how they can transform your post-work life.
- How a TEDx Talk is created: A peek into the preparation and dedication behind a viral TEDx presentation on retirement.
Resources:
- Riley’s TEDx Talk and on YouTube
- Riley’s website
- Riley on Linkedin
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Caleb and Riley are joined by Jamie Hopkins, co-author of Find Your Freedom: Financial Planning for a Life on Purpose. Jamie also wrote the book Re-wirement: Rewiring the Way You Think About Retirement! Jamie specializes in modern retirement income planning, estate planning and tax efficiency; helping clients get the most out of their retirement income. Jamie is a nationally recognized writer, podcaster, researcher and educator; and a regular contributor for Forbes, InvestmentNews and MarketWatch. He has been published in dozens of financial, educational and legal journals, and he’s a go-to expert on retirement income planning and tax law. Learn more about:
- Why retirement planning is hard and the complexities and misconceptions of retirement planning.
- ‘Guardrails' and their revolutionary role in ensuring a secure retirement, especially when it feels like you are trying to hit a moving target in high winds.
- Practical advice and unconventional strategies for those nearing retirement.
Resources:
- Jamie’s Book: Find Your Freedom: Financial Planning for a Life on Purpose
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Caleb and Riley are joined by Susan Williams, the Founder of Booming Encore – a website and social media network dedicated to providing information and inspiration to help Baby Boomers create and live their very best encore. Being a Boomer herself, Susan loves to discover ways to live life to the fullest. On this episode she shares her experiences, observations and opinions on living life after 50, her 60 before 60 project and how she tries to embrace Booming Encore’s philosophy of making sure every day matters. Learn more about:
- The reasons behind Susan's retirement transition and learn about the inspiration for the creation of Booming Encore.
- Valuable strategies and concepts from Susan's book and worksheet, "Longevity by Design," to help you design a positive and fulfilling later life.
- Misconceptions and myths about aging and retirement as well as stories and examples of individuals who are having robust retirements.
Resources:
- https://boomingencore.com/en/
- Susan on LinkedIn: https://www.linkedin.com/in/susan-williams-0123a825/?originalSubdomain=ca
- 60 Before 60 Project: https://boomingencore.com/en/60-before-60
- FREE BOOK Longevity Lifestyle by Design: https://longevitylifestylebydesign.boomingencore.com/
- Are Your Living a Regret Free Life Article: https://boomingencore.com/en/article/are-you-living-regret-free-life
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Caleb and Riley are joined by Judith Oppenheim. The topic is happiness. Judy has a BA in psychology, an MBA in marketing and over 20 years of experience in consumer insights, research, marketing, strategy, and product development. She has worked with major financial services companies and leading advertising and digital agencies. In 2019, Judy obtained her certification as a Happiness Trainer from Tal Ben Shahar’s Happiness Studies Academy. She is actively involved in the education committee and is a founding member of the HSA business club. Learn more about:
- Insights into the science of happiness and how it can transform your retirement.
- Practical strategies for crafting a fulfilling and joyful retirement.
- The surprising truth about the relationship between money and happiness.
Resources:
- Judy on LinkedIn: https://www.linkedin.com/in/judy-oppenheim/
- Tal Ben-Shahar’s 1 year course: https://www.happinessstudies.academy/
- Happier by Tal Ben-Shahar on Amazon: https://www.amazon.com/Happier-Learn-Secrets-Lasting-Fulfillment/dp/0071492399
- Psychology of Money by Morgan Housel: https://www.amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681
- The Science of Wellbeing, a free Coursera course by Laurie Santos of Yale: https://www.coursera.org/learn/the-science-of-well-being
- Managing Happiness, free Harvard University course by Arthur Brooks: https://pll.harvard.edu/course/managing-happiness
- Riley Moynes TED talk on How to squeeze all the juice out of retirement: https://www.ted.com/talks/riley_moynes_how_to_squeeze_all_the_juice_out_of_retirement
- Brene Brown Atlas of The Heart list of emotions: https://brenebrown.com/resources/atlas-of-the-heart-list-of-emotions/
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Caleb and Riley are joined by Tom Lashnits, producer of the award winning blog “Sightings Over Sixty” which covers health, finance, retirement — and all the concerns of people who realize that somehow they have grown up. In this episode Tom shares his story of being unceremoniously laid off in his mid 50’s and his transition into a thriving retirement. For Tom, a thriving retirement is one where you have found the answer to ‘the three likes’. Learn more about:
- How to navigate major life changes during retirement with resilience and grace.
- Practical advice on, finding new passions, lifelong learning, and maintaining balance in retirement
- Insights on how to maintain and strengthen relationships with loved ones post-retirement.
Resources:
- Toms Blog: http://sightingsat60.blogspot.com/
- Toms book on Amazon: https://www.amazon.ca/-/fr/Tom-Sightings/dp/1517434777
- Delaware Valley University: https://delval.edu/center-learning-retirement
- Osher Lifelong Learning Institute
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Caleb and Riley are joined by Karen Wagner and Erica Baird, the co-founders of Lustre, a community of women who are redesigning what retirement looks like. Erica's journey is nothing short of remarkable. Erica attended NYU Law School and became the first female partner in the General Counsel’s office of one of the Big 8 accounting firms. Karen, on the other hand, nurtured a deep-seated ambition to live in the heart of New York City from her globe-trotting childhood years. This desire led her to also attend NYU Law School, and led to an illustrious career as a corporate litigator. Both Erica and Karen see retirement not as the end, but as an opportunity to pivot, to leverage their experiences and skills into a new venture. Learn more about:
- How Karen and Erica are reshaping retirement for professional women and challenging traditional perceptions.
- The concept of "the pivot" and how Karen and Erica's retirement experiences differ from men, and the new activities they have found to replace place their careers.
- Insights on reinventing retirement and learn what to do (and not do) during this transformative stage of life.
Resources:
- Website: https://www.lustre.net/
- Lustre Newsletter: https://www.lustre.net/subscribe
- Karen Wagner on LinkedIn: https://www.linkedin.com/in/karen-wagner-a9489463/
- Eric Baird on LinkedIn: https://www.linkedin.com/in/erica-baird-5569208/
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Caleb and Riley are joined by Carol and Jay Casbon. They have a really interesting story about travelling across the country in their RV, interviewing hundreds of couples about their committed aging relationships. They are the co-authors of Side by Side: The Sacred Art of Couples Aging with Wisdom & Love, released June 27, 2023. Their book, offers a rare window into the intimate challenges and joys of couples fiercely committed to thriving and evolving in long-term partnerships, especially while aging. Learn more about:
- Discover the intimate challenges and joys of long-term partnerships as couples age and evolve together.
- Receive valuable retirement advice, including navigating health issues, evolving relationships with adult children, finding meaning post-career,
- Learn practical tips for nurturing love and mutual understanding in retirement.
Resources:
- https://sidebysideaging.com/
- https://terryreal.com/
- Interview: Laurie Rutenberg & Gary Schoenberg
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Caleb and Riley are joined by Sue Phillips, Vice President of the End of Life Doula Association of Canada. Sue Phillips has been supporting people who are dealing with a critical illness or approaching death since 2019. Her primary supports include pre-planning, advocacy, legacy project facilitation, compassionate companioning, caregiver respite, post-death assistance and grief and bereavement peer support and resources. Sue’s training includes the Douglas College End of Life Doula Training as well as the Visiting Volunteer Training at Dr. Bob Kemp Hospice in Hamilton. NOTE: Since the recording Sue has completed her term as the VP End of Life Doula Association of Canada. Learn more about:
- Discover the vital role of end-of-life doulas and how they provide compassionate support during critical illness and the dying process
- Gain insight into the services offered by end-of-life doulas and understand how they can enhance the quality of life for both individuals and families.
- Learn about Sue’s career transition to an end-of-life doula, The End of Life Doula Association of Canada
Resources:
- https://www.suephillips.ca/
- https://endoflifedoulaassociation.org/
- https://www.dyingwithdignity.ca/
- https://www.virtualhospice.ca/
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Caleb and Riley are talking about 3 things that you can do to craft your perfect retirement lifestyle. This episode goes beyond investing here. We are not talking about what we invest in, the tax planning or any trading or tax strategies. Instead we lay out three things you can do yourself, in three areas of your life to have the biggest impact in preparing for retirement. Turn on the TV if you want to be entertained by what’s happening in the markets (largely uncontrollable), but listen to this episode if you want some real actionable steps that you can take that can make a difference in how you arrive at your retirement destination. Learn more about:
- The often-overlooked aspect of retirement uncovered by the 85 year old Harvard study on Happiness
- How to create a robust retirement budget and the benefits of testing that budget now
- Being more confident to retire by simulating your retirement income before leaving the workforce to gain clarity about your financial situation.
Resources:
- An 85-year Harvard study on happiness
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Caleb and Riley discuss retirement packages and the various legal contracts we sometimes call buyout contacts. For example, Telus recently announced some downsizing they were doing this year, offering buyout package to 2,000 employees. If there is a desire for your employer to send you off into retirement, then we want to make sure you maximize your compensation and benefits, and really understand the lay of the land and what you should consider. So let’s talk buyout packages Learn more about:
- The financial benefits and implications that are commonly found in buyout packages
- Insights on why they may want to “yes” or why they may want to “no” to accepting an employers offer
- Buyout packages as a part of the retirement journey. Sometimes our employers tell us to leave before we tell them we are leaving and this can be beneficial or a challenge.
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 Rick Irvine, a retired engineer that summited Mount Everest at age 59. At 59-years-old, Rick Irvine from Minto New Brunswick was the first New Brunswicker to scale Mount Everest. On May 24, Rick reached the 8,848-metre summit of the world’s tallest mountain. What I found particularly amazing about Rick though is that he wasn’t always a die-hard mountaineer. Reaching the top of Mount Everest wasn't a lifelong goal for him. In fact he only started climbing about 10 years prior. Learn more about:
- Drawing inspiration to try and do something new as Rick Irvine shares his path from small town Nova Scotia to the summit of Mount Everest.
- The triumphs and challenges of two daring attempts at conquering Mount Everest, gaining valuable insights into the physical and mental preparation required
- Rick's personal transition from a fulfilling career to navigating and fully embracing his own robust retirement.
Resources:
- Rick on Instagram
- Mount Everest | Information Morning - Fredericton with Jeanne Armstrong | Live Radio | CBC Listen
- https://atlantic.ctvnews.ca/it-was-a-bit-of-pride-minto-born-rick-irvine-scales-mount-everest-1.6441751
- Man from Minto flies New Brunswick flag from atop Mount Everest | CBC News
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 optimal order of operations for saving. If you ever asked yourself, where should I save my money and what type of savings plan do I prioritize over others, then this episode is for you. And bonus points if you are a math junky, and you want your savings strategy to follow some algebraic like principles, because Riley is going to present us a framework that you can follow to ensure you are maximizing the potential of your savings. Learn more about:
- The 'Financial Order of Operations' strategy, a powerful framework for prioritizing your cashflow for optimal growth.“
- A case study illustrating the stark difference between an optimized and a sub-optimal savings strategy.
- The three crucial levels of investment prioritization, determining where you currently stand and how to ascend to the next level.
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 joined by Myron Littman, owner of Foresight Financial. If you have ever asked yourself questions like, “Do I still need this insurance policy?” Or “What coverages do I actually need as I get older?" Then this episode is for you. Surprisingly, insurance can be used as a creative planning tool to help you to increase your savings and wealth and take you to the next level. Other times, insurance is your saving grace and provides financial support for a potential serious illness, disability or a death. So if you would like to make informed insurance decisions, find the wealth building opportunities that exist in insurance strategies, and lessen the blow that your family may take when you face a serious risk event, then we suggest you stick around for this episode. Learn more about:
- The surprising benefits of life insurance for older adults in retirement and explore the role of insurance in estate planning, family business transitions, and more.
- Explore the significance of critical illness Insurance, stories of real-life impact, cost considerations, and the concept of "return of premium".
- Insights from Myron Littman, a Certified Financial Planner with over two decades of experience, as he shares his personal journey and the impactful stories that shaped his career.
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 Dr. Ken Dychtwald, a renowned psychologist, gerontologist, and CEO of Age Wave. He's authored 19 books and is a celebrated public speaker, having shared stages with figures like Barack Obama and Nelson Mandela. Featured on platforms like 60 Minutes, The Oprah Winfrey Show, and The New York Times, he's a Fellow of the World Economic Forum and has keynoted White House Conferences on Aging. Recognized by Investment Advisor as a leading thought influencer in financial services, he's been honored multiple times by the American Society on Aging, recently receiving their President’s Award in 2023 for reshaping global perceptions of aging. Learn more about:
- Firsthand accounts of encounters with global figures like Arnold Schwarzenegger and President Carter, revealing the unseen facets of finding purpose as an older adult.
- The profound shifts in how we perceive aging, from the insights of a world-renowned gerontologist.
- The modern-day nuances of leaving a lasting impact versus mere material inheritance.
- The story behind Dr. Dychtwald's annual marriage vow renewals and its transformative power.
Resources:
- Book, Radical Curiosity, on Amazon
- AgeWave: https://agewave.com/
- Most recent study, “The New Age of Aging”
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 emergency funds and how to be ready for unexpected expenses. Perhaps you’ve always heard that you need an emergency fund, but have never actually taken the time to build one or even be intentional about how much to have in one. Given the stats you are about to hear, I would bet there is a high chance the size of your emergency fund (if you have one at all) has had little thought put into it. Emergency funds make us more resilient and independent. How much do you need to have to feel resilient? It's not one-size-fits-all. Your emergency fund needs to be tailored to your circumstances.
Learn more about:
- How your emergency fund preparedness compares to others based on most recent Canadian Statistics
- The 5 Factors to consider when determining the size of your emergency fund
- Why the size of your emergency fund is going to be unique and where you should save it
Resources:
- Canadian statistics on emergency funds
- March 2022 report from the Consumer Finance Protection Bureau
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Caleb and Riley are joined by Joan MacDonald, “a 76 yr old fitness fanatic defying expectations on every level” - that is what shape.com wrote about Joan in 2022. Joan (aka @trainwithjoan on Instagram) is proving that it's never too late to make big life changes. At 70 years old, she was on multiple medications for high blood pressure, high cholesterol, and acid reflux. She was getting winded walking up the stairs. Today, Joan has lost over 60 pounds, her doctors have given her a clean bill of health and she inspiring millions of followers on social media across the world. Learn more about:
- The inspiring journey of a 77-year-old fitness influencer who transformed her life, going from from medication dependence to fitness phenomenon
- Why it's never too late, even at age 70, to adopt a healthier lifestyle, no matter your age or physical condition.
- How fitness can act as a catalyst, not only for physical health, but for emotional wellbeing and self-confidence.
Resources:
- Website: https://www.trainwithjoanofficial.com/
- Train with Joan App: https://plankk.partners/trainwithjoan/
- Joan on Instagram
- Joan on YouTube
- Joan’s book on Amazon: Flex Your Age
- Brain training App: https://elevateapp.com/
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 Laura Tamblyn Watts, CEO of CanAge, Canada’s national seniors’ advocacy organization and a global expert on aging. Laura is one of the leading voices in Canada on issues related to aging. She is a lawyer, a frequent media commentator, an author, an academic researcher and well-known community activist.
Learn more about:
- The societal and economic implications of our rapidly aging world, and how these shifts will impact your retirement.
- Practical strategies for a robust retirement, from financial planning, the effects of social isolation to combating ageism.
- The origin of "retirement age 65", and gain insights on how to adjust your retirement plans for your age, stage, and lifestyle.
Resources:
- Website: https://www.canage.ca/
- Laura on LinkedIn
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Caleb and Riley are joined by MP Greg McLean, the Conservative Member of Parliament for Calgary Centre and a Member of the Standing Committee on Environment and Sustainable Development. Before being elected as MP for Calgary Centre in 2019, Greg worked as a financial professional for 20 years. His work put him in close contact with Alberta’s vital oil and gas sector and with technology start-ups, giving him a first-hand understanding of what it takes for hard-working Calgarians to invest, take risk, build, and succeed.
Learn more about:
- How the parliamentary process works, the different types of bills and how retirees can have their interests represented in parliament
- The role of Canada's budgetary deficit and inflation in your retirement plans from the perspective of a seasoned politician.
- The unique experiences of MP Greg McLean and understand his personal perspectives on balancing constituent needs, party demands, and his own desires in the complex world of politics.
Resources:
- https://gregmcleanmp.ca/
- YouTube: Affordable, Quality Childcare is Critical
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Caleb and Riley are joined by Calgary Lawyer, Michelle Bullas to discuss unique tax savvy strategies for business owners. Michelle specializes in tax planning and has more than 20 years of experience helping her clients pay less tax. In this episode we discuss Bill C-208 and how business owners may want to take advantage of the introduced changes in 2023, 2024 and beyond. If you or your spouse owns a business and you are considering selling that business to a family member, this episode is for you.
Learn more about:
- Why you should begin planning a business transition sooner than later and how to take advantage of new tax legislation.
- Bill C-208 and how how it will impact the options you have when selling your business.
- The common mistakes and pitfalls older adults make when adding family members to assets such as bank accounts or to the title of their home.
Resources:
- Contact Michelle
- Learn more about Bill C-208
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Caleb and Riley are joined by Patricia Faust, a gerontologist specializing in the issues of brain aging, brain health, brain function, and dementia. Patricia has a Masters in Gerontological Studies from Miami University in Oxford Ohio. She is certified as a brain health coach and received a certification in Neuroscience and Wellness through Dr. Sarah McKay and the Neuroscience Academy.
Learn more about:
- Strategies for maintaining cognitive health in retirement and Patricia's favourite ways to exercise her own brain to maintain her cognitive reserve
- The science behind what happens to our brains as we age, starting as early as age 30 and which lifestyle choices have a significantly influence.
- Understand why the first year of retirement can be so challenging for the brain and hear examples of 'superagers' who maintain exceptional brain health in their later years
Resources:
- Website: https://www.myboomerbrain.com/
- Email: patricia@myboomerbrain.com
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Caleb and Riley are joined by Jane Heller, a best selling author who has written many books, romantic novels, and comedies. In this episode we discuss her most recent book of nonfiction, You’d Better Not Die Or I’ll Kill You: A Caregiver’s Survival Guide To Keeping You in Good Health and Good Spirits, which features her trademark humor as she tackles the subject of caring for loved ones with a chronic or progressive illness.
Learn more about:
- How to turn cranky nurses into buddies and other strategies for dealing with the challenges of caregiving and communicating effectively with medical professionals.
- Insights on managing stress providing care for their loved ones and how to make the difficult decision of placing a loved one in a nursing home.
- Insights into how to have a fulfilling second half of life by staying active, engaged, and connected to others, even in the face of caregiving responsibilities.
Resources:
- Website: janeheller.com
- Book: You’d Better Not Die Or I’ll Kill You
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Caleb and Riley are joined by Ted Klontz Professor of Financial Psychology and Behavioral Finance at Creighton University. Ted helps people find and understand their individual “money scripts”. Whether you know it or not, you have a unique perspective on the role of money and what it means to you. In this episode Ted walks us through just a few of the key questions that are likely to improve our relationship with wealth. Don’t be surprised if these questions uncover something in you that you didn’t even know existed.
Learn more about:
- Master the art of listening and learn how this skill can reshape your retirement journey.
- Learn to address and heal common money issues that can impact retirement well-being.
- Understand the connection between happiness, money, and retirement to maximize your golden years.
Resources:
- Website: https://www.klontzconsulting.com/
- Email: ted@klontzconsulting.com
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Caleb and Riley are joined by Bonnie J. Kaplan, Ph.D, Professor Emerita in the Faculty of Medicine at the University of Calgary. Bonnie co-authored The Better Brain. The book is a complete guide to a healthier, happier brain. What if the key to treating mental illness can’t be found at the pharmacy, but lies in the very foods and nutrients we eat? In this episode Bonnie shares the results of some fascinating studies and what it means for our brains.
Learn more about:
- The important but under appreciated connections between nutrition and brain health
- The effectiveness of a “nutrition first approach” and how it can be applied to prevent and treat illnesses
- Practical advice on how to maximize your retirement years by adopting healthy eating habits and lifestyle choices that support brain health.
Resources:
- BonnieJKaplan.com
- TheBetterBrainbook.com
- Video: How Nutrients Control Brain Synthesis and Metabolism of Neurotransmitters
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Caleb and Riley discuss the potential impact of saving just 1% more each month. How much earlier do you think it would allow you to retire? In this episode we walk you through this calculation as well as describe the four biggest levers you have control over to get closer to your ideal retirement.
Learn more about:
- The impact of saving 1% more every month versus working 1 more year
- Your 4 biggest levers when trying to improve your financial situation for retirement
- How to determine which lever will have the biggest impact on getting your ideal retirement
Resources
- Seinfeld: Kramer test drives car on Seinfeld
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Caleb and Riley are joined by Peter Blomfield, a U.S. tax advisor focused on international tax issues for U.S. citizens living in Canada. If you spend many months a year in the US, are a dual citizen or thinking about purchasing U.S. real estate, this episode is full of really great information and advice on how to navigate U.S. taxes and avoid common potential traps.
Learn more about:
- Dual citizenship and the associated tax dilemma. Uncover the complexities of U.S. tax filing for dual citizens and learn about potential paths like U.S. citizenship renunciation.
- How to be a successful snowbird and navigating the essential 'Day Count Rule' and 'Substantial Presence Test' for Canadians spending part of the year in the U.S.
- What to know before making a cross-border real estate purchase and the tax implications for Canadians purchasing U.S. real estate.
Resources:
- Peters Website: https://www.blomfieldtax.com/
- Email Peter
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Caleb and Riley are joined by Susan Bradley, the Founder of the Sudden Money® Institute. For 16 years Susan has been teaching people how to successfully navigate the big and small transitions in life. She is the author of Sudden Money: Managing a Financial Windfall, and TEDx Wilmington Women talk called, “Change launches you into the next great chapter of your life, whether you like it or not.”
Learn more about:
- How to navigate major life transitions for a more fulfilling retirement experience.
- The different phases of retirement transition and how to effectively approach each stage to ensure a smoother and more enjoyable journey.
- Insightful advice and practical tips from an expert on managing expectations, making well-informed decisions, and involving family and support networks during the retirement transition.
Resources:
- Sudden Money Institute Website
- TEDx Susan Bradley: “Change launches you into the next great chapter of your life, whether you like it or not.”
- TEDx Kelly McGonigal: How to make stress your friend
- TEDx Dr. Carol Dueck: “The power of yet”
- Liminal Space
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Caleb and Riley discuss the most commonly asked bad financial questions. In this episode they explain why they are bad, and share the better questions we should be asking instead to get more value our of our meetings with advisors.
Learn more about:
- The bad questions to avoid and the good questions to ask help you get the answer to what you truly want
- Learn how to better evaluate your retirements, your portfolio and your relationship with your advisor
- Why most questions about the investment markets tend to produce the worst answers
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Caleb and Riley are joined by Jocelyn Rempel, Chair in Older Adult Health and Associate Professor at Mount Royal University. Jocelyn’s experience as a gerontological nurse has spanned across the care continuum from homecare to long-term care and she is currently forging the way for innovation and technology in the aging space through her research and work with AgeTech and IoT companies.
Learn more about:
- New technologies being developed to assist older adults in living independently.
- How to avoid social isolation as we age and the importance of ‘replacement activities’.
- Insight into the often unexpected challenges that arise for older adults as they age
Resources:
- Email Jocelyn: jlrempel@mtroyal.ca
- Connect with Jocelyn on LinkedIn
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Caleb and Riley are joined by Joan Pagano the owner of Joan Pagano Fitness in NYC, who has specialized in strength training for women since 1988. As the former trainer to Jacqueline and Caroline Kennedy, Joan is dedicated to helping women manage the aging process with grace. At age 75, Joan continues to inspire as a healthy aging and women’s fitness expert, proving that strength and vitality can be maintained through the decades. Learn more about:
- The top exercises and strategies for preventing osteoporosis and staying strong through the decades, tailored specifically for women's unique health needs
- How to harness the power of strength training to not only protect your bones, but also maintain a youthful appearance, boost your energy levels, and improve your overall well-being.
- Joan’s experiences training iconic figures like Jacqueline Onassis and Caroline Kennedy, and how these lessons can empower your own fitness journey.
Resources:
- www.joanpaganofitness.com
- Sign up for her newsletter and free ‘fitness refresh routine’
- www.facebook.com/JoanPaganoFitness
- www.linkedin.com/in/joanpagano
- www.twitter.com/JPaganoFitness
- Joans Index to the Osteoporosis Prevention Series
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 George Kinder, Author, international thought leader, and life-planning pioneer. George has been at the forefront of the financial services industry for more than 35 years, spearheading a movement to put the lives that clients desire to live at the center of their financial plans. Through books, workshops, and speaking engagements, George has trained thousands of professionals globally in the field of financial life planning. Learn more about:
- Having the emotional maturity and confidence to recognize and then pursue your aspirations
- How you can discover what you truly want out of life and how you can align your financial plan with your life plan
- Changing your perspective on suffering and how suffering can be turned into retirement wisdom
Resources:
- George Kinder’s books on money and mindfullness and more
- Georges Website
- Kinder Institute of Life Planning
- George on Instagram
- George on LinkedIn
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 Dr. Rose Joudi to discuss aging, agism and how to think positively about who we are, what we can do and who we can still become. Dr. Joudi holds a Ph.D. in Psychology from Auckland, New Zealand and is a Certified Professional Consultant on Aging. She has more than 15 years of academic, research and training experience in the Psychology of Aging, and Social and Clinical Topics in Aging. Learn more about:
- Barbara Beskind and why you can still do what you dreamt of doing, even at age 85.
- How to navigate employer relationships where ageism is being experienced.
- The myths, misunderstanding and stereotypes that society has about older people and that some older people believe themselves
Resources:
- Email Rose: rosejoudi@gmail.com
- Roses website
- Rose on LinkedIn
- Barbara Knickerbocker-Beskind
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 Gary Saran to discuss what factors are most important to consider when purchasing or selling real estate. Monthly mortgage payments required to buy the median existing U.S. home has increased more than 75% since the beginning of the pandemic. How much should interest rates and housing markets play into your decisions? That’s what we discuss today with Gary Saran of Calgary, Alberta, a licensed real estate advisor with the eXp Realty Family where he helps buyers, sellers and investors find and buy the right home. Learn more about:
- How much should interest rates and housing markets affect your home buying decisions?
- Can we and should you try and ‘time the housing market?
- The 10 year rule and how to assess if your situation is prime for home ownership
Memorable Quotes:
- “No amount of cheese in something will replace the satisfaction of cheese on top of something”
- “If house prices drop by 5% and in that same time mortgage rates increase by 0.5% (for example, from 7% to 7.5%), your mortgage payment on a 30-year fixed rate loan would remain unchanged.”
Resources:
- Gary’s website
- Gary on LinkedIn
- Gary on Instagram
- Email Gary at gurkarn.saran@exprealty.com
- Call Gary at 403.797.4100
- Online debt-to-income ratio calculator
- History of fixed mortgage rates in Canada
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 takeaways from the disruption in Caleb’s flight from Maui, Hawaii to Calgary. We can be fairly certain there will be many disruptions throughout retirement. There are simply too many unknowns - the market, inflation, health, politics and more. One of the great things about working with a financial planner is that you have access to a ‘financial life simulator’. A financial planner with the right software and tools can test a variety of different scenarios to ensure you plan can encounter unforeseen events and still succeed. Learn more about:
- Normalizing the idea that disruptions will happen and how you to learn to rebound from them to make the most of any given situation, because often opportunity emerges from the inconvenience.
- Anecdotal stories of how people re-adjusted to disruptions to turn them into an opportunities.
- A case study to understand how we can stress test our plans and create new plans to prevent possible failures.
Resources:
- Are You Afflicted by Retired Husband Syndrome?
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 Dino Camire, coach to Gail-Ann Breese who at age 62 has been setting local, national and world records in powerlifting. Dino is the owner of One Family Fitness Centre in Winnipeg where he trains people of all ages. Dino shares why weight training is so important, even more so in retirement and how it is vital to remaining independent as we age. Learn more about:
- The story of Gail-Ann, a 62 year old women who recently became a world champion powerlifter
- How to lift weights even at older ages, with out experience, safely and consistently.
- The benefits of weight training just 2 days a week and how it offsets the natural muscle loss that accelerates with aging.
Resources: One Family Fitness Website One Family Fitness Instagram Email Dino 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 David MacLean, 30+ year now retired Senior Investment Advisor and Financial Planner. In this episode we dive into what he did to help his clients maximize their plan and successfully retire as well as what he didn’t do! David helps us understand why most people ask the wrong questions, like “what funds should I own?” and a why portfolio is not a plan — but the last step in creating a financial plan. Learn more about:
- What David found over 30+ years to be the most important factors in being a successful investor.
- The risk of not investing and the incredible probabilities of success when investing over 10, 20 and 30 year periods.
- Why we should expect volatility, market downturns and have the courage to not doing anything and stand still when others are saying, “Why are you standing there, do something”.
Memorable Quotes:
- Book: Nick Murray, Simple Wealth Inevitable Wealth
- Favorite Quotes: Nick Murray, Simple Wealth Inevitable Wealth
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Caleb and Riley discuss how long you are expected to live! Maybe you’re going to drop dead before this podcast episode even ends (maybe that’s a bit too morbid ). Perhaps you will become the longest living member of your family. We don’t know exactly when, but do know that your days are numbered. In this episode we talk about a major retirement risk that we all face; the risk of having a long and healthy life. Learn more about:
- How long might I live? What do current statistics say about how long you may actually live?
- What is the probability of living to age 100? How is life expectancy changing? Is it trending up/down?
- What you need to do to take care of yourself and reach your full life expectancy potential.
- How do I increase my life expectancy and build a plan that supports a long life while ensuring I don’t run out of money? And don’t underspend?
Memorable Quotes:
- “A retirement projection simply tells you where you are headed based off many static assumptions. But a retirement plan tells us what we will do and when we will do it when those assumptions change. This difference is overlooked and very important”
- “Only 20% of life expectancy is based on genes, 80% is based on our lifestyle.”
- “The oldest person to ever live was the French Jeanne Calment who was 122 years and 164 days old when she died in 1997.“
Resources:
- List of the verified oldest people
- Rich Roll: A Longevity Masterclass: Emerging Science & Timeless Wisdom of Healthy Aging
- Longevity Risk and Retirement Income Planning (a summary)
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 excited to be joined by Joseph Curry, President & Financial Planner at Matthews + Associates. Joe is passionate about helping clients create a good plan for a great retirement. He works to create retirement income strategies that assist clients to reduce their lifetime taxes, and ensures they don’t outlive their money. Sound familiar? Caleb, Riley and Joseph are on a very similar mission to help retirees and people within a few years of retirement achieve what Joe calls, “True Wealth”. Learn more about:
- The formula to determine how much to withdraw from your investments each year, so that you have the highest income without jeopardizing your financial security.
- How to strategically combine your household income sources each year to minimize taxes and maximize income
- An important reason Joe thinks you should carefully consider when you begin taking your CPP and OAS.
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 what Nick Murray calls “The key to your investments outperforming most others” and how fear and our reactions are often the #1 wealth killer. There is no doubt that you want to come out ahead and maximize your returns. But maybe you are wondering how can you get there. Investment success belongs to the fearlessly disciplined not the brilliant. This was said by William Bernstein, a financial theorist and neurologist, and writer of financial literature. Remaining a disciplined investor, despite all the panic around us, is incredibly important as we plan for and live through our retirement. Learn more about:
- How to feel okay about fearful emotions about the market and not react in a way that kills growth
- Why ups and downs in the market are normal an expected and the distinction between volatility and loss
- They key to having an outlook that builds wealth through the remainder of your retirement
Memorable Quotes:
- “A genius is the man who can do the average thing when everyone else around him is losing his mind.”
- “Great golfers don’t necessarily hit the most number of great shots, as they hit the least number of terrible shots.”
- “The S&P 500 broader market return on average is around 13.69% but the average equity investor’s return, was half of that 5.50%.”
Resources:
- Ted Talk: Things Aren't As Bad As You Think They Are | Dan Gardner | TEDxNashville
- Article: Morgan Housel on Greed and Fear, Frugality and Paranoia
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 Karen Henderson. As the result of a challenging 14 – year dementia care experience, Karen founded the Long Term Care Planning Network, Canada’s leading online and off-line resource centre for aging and long term care. Planning for aging and care needs can be daunting – but Karen’s goal is to make it easy to take the first step. Learn more about:
- The impact of not being prepared for aging or declining health and the result that will have on you and your family members.
- What it takes to stay in you home throughout your retirement years and how to increase the probability that you can “age in place: by preparing now.
- An understanding of the continuing care in Canada, the options available, and what each costs and it’s accessibility.
Resources:
- Karen’s Website: Long Term Care Planning Network
- Karen on LinkedIn
- Email Karen: karenh@ltcplanningnetwork.com
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 #1 thing you can do to be more confident that your money will last your entire retirement. You may be thinking, I have figured out to do this, It’s called “I just wont withdraw/spend any money from my portfolio”. Let them show you you, there is a much better way, you don’t have to do that. You sacrificed throughout your life to work and save and now it’s time to use it. If you want to maximize your wealth and spending in retirement then this episode is for you. Learn more about:
- The underused but very effective “Guardrails” approach and the benefits of using it
- Why running out of money is a concern more than ever right now
- Simple and effective strategies to mitigate that concern and the one strategy that dominates them all
Memorable Quotes:
- “The advice is simply to, “save more”, “spend less” or “work longer”...is directionally helpful, but lacks specifics. I wouldn’t call it a financial plan. A financial plan should be easy to follow and straightforward to implement. A plan should be specific and say if x or y were to happen, then w or z should be the recommended action.“
Resources:
- A portrait of Canada’s growing population aged 85 and older from the 2021 Census
- Bank of Canada inflation calculator
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 Jane Blaufus, speaker, coach and best selling author. Jane has a mantra that: “We have an obligation to ourselves and to those we love to make sure we leave this world in an organized manner.” Through her book, her speaking engagements, her writings, and her coaching, Jane empowers people to have courageous conversations and has started an international movement to help people get their personal and financial lives in order before it’s too late. Learn more about:
- Janes personal story and why she believes having courageous conversations is so vitally important
- The kinds of questions and conversations you should be having with your partner and family members
- Strategies to overcome some of the roadblocks to having courageous conversations
Resources:
- Janes Website
- Janes Linkedin
- Janes book, With The Stroke of a Pen: Claim Your Lie Book & Planning Binder
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
Get ready for a unique episode! Today Caleb and Riley share their most favourite moments, learnings, and research over the first year of doing this podcast. It’s all killer no filler. If you want the cream of the crop; if you want to know what are those fantastic learnings, mysteries, insights that will elevate your retirement from zero to hero, then this episode is for you. Get a recap on the best learning from prior episodes and afterwards you may even want revisit those episodes and dig deeper into the discussion and the material. Learn more about:
- Our most favourite moments, learnings, and research from the first 50 episodes
- The key ideas, concepts, thought processes presented over 2022 that continue to be useful in 2023
- Our favourite podcasts guests and their advice on how to live a robust retirement
Resources:
- Ep 3 - The best decade to work with a financial advisor
- Ep #19 - Rich vs Wealthy
- Ep #22 - An inspiring retirement farewell speech worth pondering
- Ep #27 - Your One Page Retirement Plan and What It Should Monitor To Stay On Track
- Ep # 28 - David Blanchette: The Retirement Consumption Gap
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
Meet Mike Drak, author of two best selling books on retirement. If you're struggling with the idea of retirement, Mike and this episode are for you. Prior to authoring several books on retirement Mike was a self-proclaimed workaholic, winning sales contests and focused on his decades-long career in banking. Then he got packaged out and forced into early retirement. He quickly found he was on the path to retirement hell – unhealthy, overweight, and missing the purpose that drove him throughout his entire career. In addition to being a published author he is a writer, blogger, Life style coach, mentor, retirement coach and public speaker. He delivers workshops on all the non financial aspects of retirement to help future retirees in creating their vision for their own retirement lifestyle design. Learn more about:
- How to identify your ‘retiree type’ to understand how to design your ideal retirement lifestyle
- Hear how Mike ended up in ‘retirement hell’, what that felt like and the work he did to get out
- The fundamental needs retirees ‘lose’ when leaving work and how to re-satisfy them in retirement
Resources:
- Amazon: Retirement Heaven or Hell: 9 Principles for Designing Your Ideal Post-Career Lifestyle
- Mike Drak on LinkedIn
- Free Download of Mikes Latest Book: Longevity by Design
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
Your decision of when to begin receiving CPP could be worth $545,550! In this episode we are getting the rundown on CPP from Riley Many people make this decision on a whim. They may not think it matters, or they may just do what their friends or parents did. However if you want to maximize your income in retirement, there is a better way to go about it. Many people make the decision of when to begin taking their CPP on a whim. They may not think it matters, or they may just do what their friends or parents did. However if you want to maximize your income in retirement, there is a better way to go about making this decision.This is what we dive into today. Learn more about:
- How to calculate the most optimal time for you to begin receiving your CPP
- Common cases when it makes sense to take CPP early and the financial benefits of delaying your CPP
- A simple question framework for you and your planner to use to assist you in making the best decision
Memorable Quotes:
- The majority of people choose to start CPP as early as possible. In fact, over 9 out of 10 people choose to start CPP at or before the age of 65. As an accountant, financial planner, someone that wants to help people maximize their money - this breaks my heart!
Resources:
- Canada.ca CPP Retirement pension Overview
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
It’s a new year, and with it comes new tax updates to take advantage of. In this episode Caleb and Riley identify the most impactful personal finance changes that are new or increased for 2023 to make sure you are ready to take advantage of them. Learn more about:
- Your new TFSA room for 2023 and the enormous potential tax benefit of having a funded TFSA in retirement.
- Which changes you can take advantage of that can help you save on taxes and combat rising inflation.
- The governments tax updates for 2023 including new tax credits to take advantage of, changes to CPP and federal tax brackets.
Resources:
- CPA Canada Tax update
- Sharpen your pencil: tax changes to tackle inflation are coming into effect
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
Scott Armstrong, CEO of Mindswitch joins Riley and Caleb to discuss his blueprint to helping retirees craft an inspired retirement. Scott is a ‘transition expert’ and has taken his experiences with thousands of individuals to create Mind Switch, a program that helps individuals to retire and aspire. In this episode we learn about how Scott went from creating Canada’s largest rehabilitation and education centre for abandoned exotic animals to a professional speaker and trainer, and published author, who has appeared on numerous television and radio programs helping people make the retirement transition. Learn more about:
- Why your retirement will be unlike your parents and the biggest challenges to maintaining health, vitality and purpose in retirement
- Examples of individuals who found a new purpose and who did some of their best work in retirement
- Actionable tips on how to prepare for a purpose filled retirement
Resources:
- Email: scott@mindswitch.ca
- Scott on LinkedIn
- Mind Switch Website
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
Do you ever find yourself asking, “Where are the markets going? Are they going up? Are they going down? When will things change?” In this episode Caleb and Riley are joined by Joey Lam, a co-founder of InvestorDNA. Joey has been in financial services since 2008. He has had various roles over the years advising clients on their money. Joey is liaison between the portfolio management team and our clients. Investing can be complex and technical and Joey helps clients make informed investment decisions. Learn more about:
- A way to answer this question that places some control back into your life
- How to find accept and find peace in fact that markets will never be controllable
- Why you may never ask the “where are markets going” question ever again
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
Kate Bahen, managing director of Charity Intelligence (CI) joins Caleb and Riley to discuss how her work can help us make more impactful charitable gifts. Kate and her team research and post reports on over 800 Canadian Charities. They essentially hold charities accountable for the generous support they receive and expect them to be financially transparent. They also highlight exorbitant overhead costs, or charities that don’t need more funding, and ultimately measure a charity’s effectiveness. Learn more about:
- How you can multiply the impact of your charitable giving by up to 7x
- Reducing uncertainty about whether your gifts actually have an impact
- The top 10 charities in Canada and the impact they are having
Memorable Quotes:
- “It’s not just good to be a worthy cause anymore“
Resources:
- Website CharityIntelligence.ca
- Twitter @CharityCanada
- Charity Intelligence’s 2022 Top 100 Charities
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 strivers curse and how our intelligence transitions as we age and enter retirement. Research shows that at age 70 our happiness levels dramatically, for some they increase and others they decrease. Why is this? The authors found that it depends on how well we adapt to losing our ‘fluid intelligence’ and understanding our ‘crystallized intelligence’. For retirees that are able to tap into their resources of crystallized intelligence, it because a retirement super-power. Learn more about:
- Real people that cling to the first half of life and failed to find success in the second half of life.
- Recognizing which forms of intelligence should be nurtured, and which forms of intelligence can be let go
- The strivers curse and discovering a new avenue to achieve happiness
Memorable Quotes:
- “Research shows that average happiness over an adult lifespan falls very gradually from the early twenties to our early fifties. And then it turns around and it begins to increase a lot until age 70.“
- “We find that most early geniuses, peak in terms of our productive capacity, creative, innovative, efficiency peak at age 39. Most classical music composers peak at around age 39, surgeons, lawyers, engineers, you name it. Then they go into decline.”
- “Good relationships keep us healthier and happier. Close relationships, even more than money or fame, are what keep people happy throughout their lives”
Resources:
- Harvard: Good genes are nice, but joy is better
- Robert Waldinger: What makes a good life? Lessons from the longest study on happiness | TED
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 Lysa Dixon, from her cohousing community in Vancouver. Cohousing represents a unique way of living, for all ages, but especially for those heading into or in retirement. What is cohousing? It’s hard to describe, but think condo + dorm + seniors home. Not only does Lysa live in a cohousing community, she helps develop them. Don’t be surprised if by the end of this episode Lysa has you convinced that cohousing is the way to go. Learn more about:
- Cohousing, what it is, what it isn’t and what makes it unique
- The experiences and stories from someone living in cohousing community
- What it takes to start your own cohousing development
Resources:
- Canadian Cohousing Network
- Little Mountain Cohousing
- Lysa Dixon
- Lysa’s email: lysa@averbachmortgages.com
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 new research indicating that there are three types of retirees when it comes to goal setting. Do you enjoy setting specific goals? Or do you prefer to have a more casual bucket list? Knowing our goal setting preferences can help us achieve the fulfilling and robust retirement we hope to have. Learn more about:
- Shifting your perspective away from focusing on money and instead to a focus on time
- A goal setting framework to help you in adopting this perspective shift
- The three retirement profiles and how to use your profile to optimize your retirement
Memorable Quotes:
- “A retirement that focuses on only not running out of money, and forgets to make sure they don’t run out of time, I believe is a rubbish retirement.“
- “A question I like to ask myself when setting goals is, ‘What is the one project I can do in each area that would make everything else easier or unnecessary’.”
Resources:
- Watch the 2022 John Lewis Christmas commercial video clip
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 discussing tontines again. But this time they are joined by Fraser Stark, President of the Longevity Retirement Platform at Purpose Financial. Fraser and his team are the first to launch an income-for-life mutual fund designed for Canadians in retirement. It’s not exactly a tontine, but it’s close! What is a tontine? Listen to episode #37 where we talk all about tontines and how they represent a new retirement innovation happening in Canada that we are really excited about. Learn more about:
- The nasty retirement problem we all face and how innovation at Purpose is solving it in a very unique way
- Stories from Longevity Fund investors on why they chose to use the Longevity Fund in their retirement
- Whether a tontine like fund would enhance your retirement income strategy
Resources:
- Longevity Pension Fund
- Fraser Start on LinkedIn
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 new research that highlights four phases retirees go through in retirement. The researchers found that our experiences, priorities, and attitudes tend to change and evolve as we transition through each phase. Join us as we unpack these phases and understand them so that we head into retirement with more curiosity and a sense of adventure to explore new possibilities. Learn more about:
- The four retirement phases and how to pinpoint where you are on the retirement journey timeline so you can be prepared for what is coming next
- How to get unstuck and reach greater success and fulfillment if you are feeling that retirement just isn’t working out right
- Enhancing your retirement by knowing what is most important to focus on in each retirement phase
Memorable Quotes:
- “During our working years, most people view retirement as a destination, a milestone in life they look forward to with excitement and perhaps a bit of agitation. Once we progress throughout retirement, retirees discover retirement is far more than that: It’s a new journey, a potentially lengthy new chapter of life full of both challenges and opportunities.”
- “As you transition through each phase, give yourself time to adjust, then reflect on how it feels and what may or may not be working for you.“
- “Even in phase 4, retirees continue to lead active, enjoyable, and satisfying lives. Among retirees in this phase of retirement, 92% look back on life with deep gratitude, 83% say they have grown more resilient, and 84% still say they are looking forward to the years ahead.“
Resources:
- Many Canadians are rethinking what retirement means to them'
- Longevity and the New journal of Retirement
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
The question Caleb and Riley want to answer today is: Should you plan to leave an inheritance, and if so, should you plan to give your wealth away now, while you are alive, or at death? You may know ‘who’ you want to gift money to, or who you want to inherit any wealth, but it’s uncommon for people to know ‘when’ they would like the wealth transfer to happen. Should you wait till death, or is giving while your alive (a living inheritance) a path to a more robust retirement? Listen in to hear the debate. Learn more about:
- The history of inheritance’s and how retirees are viewing there value today
- Pros and cons of leaving your inheritance now, or at death, or over time while you are alive
- What Warren Buffet and other financial thought leaders have to say about leaving an inheritance
Memorable Quotes:
- “By leaving inheritance while your living, your family and friends will enjoy it more while they’re younger and healthier and need it. You get to see how your gift changes and improves their lives while you’re still alive.“
- “Giving now can solve today problems. There is this ability to deliver on the certainty of helping when help is needed by giving today, versus leaving it up to chance upon death “where the gift may or may not be impactful”
- “Early Giving Can Create Family Drama If you have more than one child, will early giving spur bad feelings? For example, you might want to give each child an equal share, but if their needs are unequal, those less well-off might resent “unneeded” money going to their wealthier siblings.“
Resources:
- Lessons in Estate Planning from Warren Buffett
- Giving Money to the Kids Safely
- How Warren Buffett’s son spent the $90,000 of Berkshire stock he got at 19—worth $200 million now: ‘I don’t regret it’
- Warren Buffet, Kevin O’Leary and Other Millionaires are Concerned About Inheritances
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 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
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Welcome to Awe-Inspired and Retired! 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
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Welcome to Awe-Inspired and Retired! 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
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Welcome to Awe-Inspired and Retired! 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
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Welcome to Awe-Inspired and Retired! 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
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Welcome to Awe-Inspired and Retired! 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
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Welcome to Awe-Inspired and Retired! 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
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Welcome to Awe-Inspired and Retired! 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
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Welcome to Awe-Inspired and Retired! 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
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Welcome to Awe-Inspired and Retired! In this special episode Caleb, Riley welcome David Blanchett, head of retirement research at PGIM to discuss all things retirement. David has published over 100 papers on retirement and Money Magazine named him one of the brightest minds in retirement planning. If Marvel created a new superhero with retirement planning powers, it would be David and his alter-ego ‘The Grey Gamma’. If you are retiring and feeling resistant to spend, or have a fear of the future uncertainty around markets, inflation or personal health, this episode is for you.
Learn more about:
- How you can better utilize what you’ve saved to enjoy and maximize your your retirement.
- Strategies to actually go about maintaining your current lifestyle, and doing it with confidence.
- Why David, a researcher with 100+ Whitepapers, has no idea where the market & inflation will go next and what that’s perfectly okay.
Resources:
- Right-sizing Retirement. Exploring the Retirement Consumption Gap in Early Retirement.
- Exploring the Retirement Consumption Puzzle
- Forbes: Morningstar’s David Blanchett On The Retirement Consumption Gap
- Estimating the True Cost of Retirement
- An Overview of Retirement Income Strategies
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley discuss what you should be monitoring in retirement to stay on track. Should it be year by year tax? Estate tax? Clawbacks? RRIF minimums? Rates of return? Research shows that we really have no idea what is most important as we enter retirement, so it should be of no surprise that we also don’t know what metrics we should be tracking either. Join us as we dive into what is most important to keep tabs on in retirement. What things should be measured and what metrics should be tracked.
Learn more about:
- The key items and metrics retirees should be monitoring during retirement
- Why your annual investment return is not one of the primary metrics
- The benefits of having your key metrics and financial plan summarized on a one page dashboard
- Trends in retirement timing from semi-retirements to multiple retirements
Memorable Quotes:
- “Money is an absolutely essential ingredient in retirement planning, but it’s not the only one. The vast majority of retirees say that in addition to saving for retirement and managing finances in retirement, it is important to think about what they will do to stay healthy, where they should live, how they will maintain or improve family relationships and the activities that will give them a sense of purpose.“
- “For many retirees, their mortgage is paid off, which makes taxes their biggest expense. It’s not uncommon for our projections to show retirees paying $500,000 to $2 million dollars in taxes throughout their retirement. Taxes are determined by income, and in retirement you have a lot of control over your income! Tracking and actively aiming to reduce taxes should be top of mind.“
Resources:
- Longevity and the New Journey of Retirement
- The Four Pillars of the New Retirement
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are joined my Mosi Taylor-Cole to discuss the importance of who you retire with or don’t retire with and the implications of divorce on retirees. Mosi is a family law lawyer at Square Law Group and to date, has worked exclusively in family law.
Learn more about:
- The phenomenon known as ‘gray divorce’. Statistics show that a record number of people over the age of 50 are choosing to divorce.
- The Family Property Act and the division of assets and liabilities
- Alternative co-habitation agreements, implications of getting remarried in retirement, prenuptial agreements and why Mosi believes they are important.
Resources:
- Mosi Taylor-Cole
- Why are more people filing for divorce after retirement?
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are discussing the institution of marriage. Not just marriage, but how do we use marriage to our financial advantage. There are tax breaks, incentives and strategies that only the existence of our significant other provides us. So if your listening today, maybe hit pause and lean over to that financial goldmine of a partner and tell them “baby because of you, my bank account is a safer place”.
Learn more about:
- How married couples in retirement can spend more money by positioning their accounts to minimize taxes and clawbacks
- Why being single in retirement could increase your tax bill by up to $10,000 a year and what lobbyist groups are doing to make this more fair
- The various income splitting opportunities and what you can do leading up to retirement to ensure you can use them.
Memorable Quotes:
- “The tax advantages for couples are so beneficial that a new lobby group, Single Seniors for Tax Fairness, is trying to raise awareness about the unfairness of the issue.”
- “I ran the numbers for a hypothetical situation, and he ended retirement with $1M more when he was married, versus being single. So be extra kind and romantic to your partner, thank them for the great tax situation they provide you with”
Resources:
- Tax breaks for married senior citizens aren't fair, according to older single Canadians
- CPP Pension sharing
- Two Is Wealthier Than One: Marital Status and Wealth Outcomes Among Preretirement Adults
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are discussing a problem they continue to encounter in retirement planning. The problem is that many retirees feel it is important to preserve their asset levels in retirement, and many will even go as far as to cut their spending to do it. This could because of fear or uncertainty about the future of using your wealth in retirement and not changing this mindset could lead to a sub-optimal or what we all a ‘rubbish’ retirement.
Learn more about:
- How to overcome mental hurdles preventing you from spending their wealth on what it is for
- Evidence of why spending wealth will move you closer to to a robust retirement
- Transforming your retirement mindset, to a point where you are now ready and willing to ‘retire for real’ and spend your wealth.
Memorable Quotes:
“Only 31% of retirees withdraw from their portfolios is a regular, systematic basis...Many are unnecessarily constraining spending, despite wanting to prioritize lifestyle over leaving bequests”
“If someone is uncertain about how long their money will last, or uncertain on much they will take out, fearful of the future, or unsure about what to spend their wealth on. Then I would say that person is our perfect patient and as your ‘doctors’ today we identified your illness and we prescribed the medication to cure you.”
Resources:
- Spending in Retirement: Determining the Consumption Gap
- The decumulation paradox. Why are retirees not spending more?
- Why Most Retirees Will Never Draw Down Their Retirement Portfolio
- Helping others makes us happier — but it matters how we do it
- Instead of Spending Down Assets, Eight in Ten Retirees Expect to Maintain or Grow their Investments
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley discuss how you can know when you have saved enough. Pre-retirees make many flaws in trying to estimate how much they need in their accounts for retirement. For many reasons people often overestimate how much savings they will need! There are easy rules of thumb that may or may not provide a great prediction but we recommended a more robust calculation for an accurate check on your retirement readiness.
Learn more about:
- All the ways in which people overestimate how much savings they will need for retirement
- How to properly calculate how much savings you will likely require to retire
- The two biggest deliverables to look for when working with a retirement planner
Memorable Quotes:
“If you decide to retire, this is the time to work with an advisor, or transition to an advisor that specializes in this area of retirement planning. Specifically look for 2 things: Advice on how to make dynamic withdrawals and advice on how to decumulate your assets”
“You likely have multiple accounts and you have control over what account you take from and when. What you decide to has a big impact on how much taxes you will pay, and therefore how long your money will last.”
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! This week is a unique episode where Caleb and Riley discuss three of their favourite retirement and farewell speeches. These speeches are compelling and offer inspiring advice for today and future phases of life.
Learn more about:
- Three inspiring speeches by Dwight Eisenhower (34th President of the United States), Patrick Pichette (Former Google CFO) and Mary Schmich (Chicago Tribune)
- Ways we can practice a level of excitement and sense of hope for the next phase of life
- Taking time to look back on the things we accomplished with contentment, and and feel secure that we are making the right choices
Memorable Quotes:
“Dwight Eisenhower was also a world-class bridge player. The key thing about being good at those kinds of games is that you have to know, or believe you know, how to read your enemy. His motto that he often said was, “Plans are worthless, but planning is everything.”
“Good judgement seeks balance and progress; lack of it eventually finds imbalance and frustration.”
“Get to know your parents. You never know when they'll be gone for good. Be nice to your siblings. They're your best link to your past and the people most likely to stick with you in the future.”
Resources:
Dwight Eisenhower: Farewell Radio and Television Address to the American People
Patrick Pichette: This retirement letter from Google’s CFO is like few you’ll ever read
Mary Schmich: Wear Sunscreen
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley discuss how to know if it’s a good time to retire and whether we should delay retirement during economic downturns. A lot of people have retired over the last 200 years and we dive into what made the best and worst times to retire in history. Having a robust retirement isn’t about waiting for the best economic cycle, rather it’s knowing what you can control and having a system in place to deal with the risks.
Learn more about:
- What were the best and worst times to retire in the last 200 years
- Why trying to time retirement might be as flawed as trying to time the market
- The #1 way to alleviate stock market risk in retirement using a rules based approach
Memorable Quotes:
- “You don’t have control over: sequence, inflation, returns. You do have control over your withdrawals though! And our analysis shows making smart adjustments can save most retirement situations.”
- “If you are approaching retirement during a volatile economic period, you're not the first—plenty of people have retired despite challenging economic situations. History is our greatest teacher: Recessions and market uncertainty of the past can have important lessons for how we approach retirement in the current economic environment. We just have to apply those lessons to our situation.”
Resources:
- Can I Retire During a Recession?
- It's time to dust off the '1982 playbook'
- Why 2022 has been a dangerous time to retire — and what you can do about it
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley discuss a popular ‘dividend income’ investing strategy. Dividend invests has many allures, like the ability to live off your dividends, and participate in both dividend income and growth of the shares. Some may feel dividend paying companies are the most stable and growth oriented companies. But what does the research say about this? With many years of stock market data and peer reviewed research let’s find out.
Learn more about:
- The research and data behind dividend investing strategies and why it was never meant to be an income strategy for retirees.
- The “free dividend fallacy” and why the dividend-only investing for retirement income is romanticized and is a non-sensical strategy
- The reasons to avoid dividend stock picking, and why it moves you towards a rubbish retirement
Memorable Quotes:
- “ In addition to being inefficient for portfolio construction, dividends allow retirement consumption to be directed by corporations rather than tailored to the preferences of each individual.”
- “To the extent that a dividend focus results in a tilt away from smaller companies, dividend investors may be missing out on expected returns.”
Resources:
- The Case Against Owning All Dividend-Paying Stocks in Retirement
- The pros and cons of dividend investing
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Would you rather be rich or wealthy? In this episode Caleb and Riley discuss what it means to be rich vs. wealthy and the impact each has on happiness in retirement.
Learn more about:
- Why financial celebrities like Warren Buffet believe there is a difference between being rich and being wealthy
- The impact of being rich and/or wealthy has on your happiness
- Insights from research on how we can be more wealthy and happy in retirement
Memorable Quotes:
“That man is richest whose pleasures are cheapest”
“People are consistently happier when they are out in nature, particularly near a body of water, but weather plays only a small role in happiness”
Resources:
How Investors Define ‘Wealthy’ Might Surprise You
The Rich Are Not Who We Think They Are. And Happiness Is Not What We Think It Is, Either.
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley discuss retirement timing. In other words, what does the research say about the best age to retire. There tends to be a lot of negativity around retiring late; perhaps people feel they have failed if they don’t retire early. Retiring late however can be a winning a strategy, take Warren Buffet for example, still working at age 91. There are many benefits to retiring later and they aren’t just financial, so let’s get into it!
Learn more about:
- Walter Orthmann, who holds the Guinness world record for having the longest career at the same company and just turned 100 years old last month.
- The financial, health and Psychological benefits of delaying retirement
- Trends in retirement timing from semi-retirements to multiple retirements
Memorable Quotes:
- “Working longer is associated with lower mortality, depression, and diabetes risk for both men and women using linear regression models.”
- “The U.S. and Canadian workforces experienced the highest levels of daily stress globally in 2020. Employees in these countries reported stress levels of 57%”
- “Turns out humans are notoriously bad at predicting what will make us happy. We make our decisions about the future based on our past experiences, and on our present priorities and ways of thinking, and then by the time that future happens, it ends up being much different than we predicted.”
Resources:
You’re Likely to Live Longer If You Retire After 65
Working later in life can pay off in more than just income
How Does Delayed Retirement Affect Mortality And Health?
Here’s how much more money you’d have if you delayed retirement until 70, according to Stanford researchers
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are discussing the wide spectrum of financial advice and in particular what investors should expect to pay for financial advice. Financial advisors and financial planners can offer a wide range of services from tax planning to portfolio management, there can also be a wide range of fee’s for these services. In this episode we talk about what is and isn’t worth paying for (yes, some advice is not worth paying for) and how to get the biggest ‘bang for your buck’.
Learn more about:
- What type of financial advice are worth paying for, and the research that backs it up
- The different ways financial advisor and planners charge fee’s and what fee’s are worth paying
- Which types of financial services are most worth paying for and when
Memorable Quotes:
- “John Bogle famously said, ‘In investing, you get what you don't pay for'. This should make financial advisors uncomfortable. Essentially John Bogle is saying the less you pay me the better the advice that your getting. So why not pay zero? Here's why and we first have to differentiate between investment advice and planning advice.“
- “I think the advice needed to make the financial decisions during the retirement transition is one of the most valuable services a financial planner can provide in todays world. It hasn’t always been this way though.“
Resources:
Morningstar - Alpha, Beta, and Now... Gamma
Vanguard - Advisor Alpha
Envestnet - Capital Sigma: The Advisor Advantage
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are discussing how to make a retirement more robust with guaranteed income. Research has shown that having a certain amount of guaranteed income in retirement allows you to maximize your spending while reducing the chances of running out. Essentially you can transfer the risk of ‘living too long’ to someone else!
Learn more about:
- What is guaranteed or ‘pension-ized’ income and where do I get it?
- How the right amount of guaranteed income can move retirees closer to a robust retirement
- Case studies where guaranteed income made sense and where it didn’t make sense
Memorable Quotes:
“It’s not whether I should or shouldn’t have it, its a question of how much should I have. Think Zinc, everybody needs to have a little bit of Zinc in their diet, talk to a dietician or someone who talks about nutrition and they will say yeah everyone needs some. Zinc is measured in milligrams, and if you don’t have any for months and months your body will be deficient in it, but if you give yourself a whole spoonful all of a sudden it will kill you.”
Resources:
Annuitized Income and Optimal Asset Allocation
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are discussing how to squeeze the most income from your retirement accounts, specifically RRSP and RRIF accounts. There are many misconceptions about how to use these accounts and rules of thumb that may not work well for everyone. Use this episode as your guide when considering when and how to draw from these accounts.
Learn more about:
- The proper way to think about RRSP’s and RRIF’s and when to use them (and not use them)
- 5 questions to ask yourself when considering when to withdraw funds from a RRSP or RRIF account
- Common misconceptions about RRSP accounts in retirement
Memorable Quotes:
“RRSP’s are the worst! My returns in RRSPs were always garbage”. My friend who made this statement obviously had no idea how an RRSP account works.
“It’s easy to lose the biggest benefit of using an RRSP if the refund is not reinvested. Many people overestimate the size of their RRSP by forgetting that up to 47% of it could go to taxes.”
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are discussing inflation and practical tips of what retirees can do to manage inflationary periods during retirement. Fidelity conducted a study and determined that 56% of Canadians nearing retirement age said the rising cost of living was holding them back from retiring. This is not very 'awe-inspiring' so let's change this!
Learn more about:
- Using inflation to your advantage instead of your detriment.
- How to include inflation assumptions appropriately in your financial planning
- The ways you can ‘inflation proof’ your retirement plan
Memorable Quotes:
“I’m here today to tell you that Inflation can be navigated. There are intentional decisions we can make today, to preserve our purchasing power tomorrow.”
Resources:
- Why is inflation rising right now?
- Brace yourself, inflation could create a ‘giant wealth transfer’ from lenders to borrowers
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are discussing the newly released 2022 Federal Budget, specifically those updates that are relevant for retirees to cruise through retirement with a game winning plan to maximize tax savings.
Learn more about:
- The proposed tax changes most likely to effect pre-retirees and those already retired
- Long standing tax saving tips that you may be missing out on when filing your tax return
- Which tax credits and deductions you should be taking advantage of at tax time
Memorable Quotes:
“There are certain deductions 'made for' the retiree. Sometimes they are just little bit, but when you add them together it can be something substantial.”
“A key takeaway for me is that taking advantage of the available tax credits or tax deductions doesn’t have to be stressful. I use to think it was, just in terms of knowing them all and knowing which apply to me to make sure I am not missing anything. Know which tax savings CRA has designed for people in your situation, and skip the rest.”
Resources:
- PWC Federal Budget Highlights
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are identifying how the landscape of work is changing, and how those that are approaching retirement may actually be able to capitalize on current employment trends to have a more successful transition into retirement, or perhaps, work longer by finding workplaces that are aligned to their needs.
Learn more about employment workplace trends affecting the pre-retiree: * Multigenerational Workplace - Multiple generations in the workplace provide opportunities for mentorship and reverse mentorship * Employer Upskilling - Employers looking to train up their senior workforce to in technology or other skills that may be lacking * Voluntary Benefits - Canada's top small/medium-sized employers and how they are capitalizing on unique benefits to benefit the pre-retiree
Memorable Quotes:
“Retirement can be re-defined. It doesn’t necessarily have to mean you are working or not working...if someone were to say I'm retired and they’re still working, I would believe them if they told me that they are getting a lot of meaning from their workplace still and it’s a great fit”.
“There’s a way to still find a great fit working, to do that is to take advantage of the employment trends that you may feel are a threat but are actually opportunities in disguise to use it to benefit yourself, to find inspiration while working and still get a robust retirement without having to be forced into a position where you have to leave your workplace”.
Resources:
Canada’s Top Small & Medium Employers 2022 show remarkable agility in adapting to change
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley talk about how to have realistic expectations for when you will actually retire. Data shows that we are bad at predicting when we will retire. To help us not over or underestimate how long we discuss how pre-retirees can apply the “Rule of 61” and adjust their plans accordingly.
Learn more about:
- History/trends in retirement timing over the past 100 years
- Why we are bad at predicting how long we will work and what that means for our financial plans
- How to apply Blanchett’s Rule of 61 to better predict our future retirement age
- Alternative retirement ideas such as mini-retirements and phased retirements
Memorable Quotes
- “The research doesn’t paint a great picture: 50% of people retire earlier than they want to. This means they likely won’t have enough savings to support their retirement, and on average they will be 30% less happy! Ouch! This is the fast lane to a rubbish retirement.“
Resources
- The Impact of Retirement Age Uncertainty on Retirement Outcomes
- 2019 EBRI Retirement Confidence Survey
- Part-Time Retirement Programs Are on the Rise
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are discussing common retirement mistakes and setbacks that they have seen clients make over the years. Caleb shares three stories from real people and their retirement situations, and what they could have done to better prepare themselves.
Learn more about:
- Estate equalization and what to consider when dividing up your net worth among your beneficiares
- How to properly vet a Financial Advisor before deciding to do business with them
- The dangers of retiring early without a plan
Memorable Quotes
- “I love talking about failures. They are life's way of showing us the biggest lessons that we need to learn, and sometimes we learn a lot of wisdom, patience, and humility from these life failures that happen to us”
Resources * https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/retirement-pensions/retirement-pensions-5/2.html * https://info.securities-administrators.ca/disciplinedpersons.aspx * https://info.securities-administrators.ca/nrsmobile/nrssearch.aspx
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are talking about the pros and cons of owning rental properties in retirement. While it might seem that owning real estate is a good opportunity at any point in time, there are additional things to consider when you are entering retirement age.
Learn more about:
- Why real estate is appealing and potential downsides
- Investing vs owning a rental
- A real estate investors quiz to help determine if owning a rental in retirement is the right plan for you
Retiree Real Estate Investor Quiz
- How comfortable are you having debt and using debt/leverage to invest?
- How active and involved do you want to be in managing your investments?
- What percentage of your assets does/will your rental property account for?
- Have you maximized your registered accounts (RRSP and TFSA)?
- How knowledgeable and comfortable are you how to screen rental applications, how to manage tenants, how to file for eviction, and a hundred other micro-skills?
- How taxing are tenant demands, drama, potential evictions, collecting rent on you?
- How confident are you that the real-estate market you own in will have high returns in the future, even outpace the stock market over time?
- Is cashflow better or worse than average? Are their any other extenuating circumstances like family living there, or long term tenants, etc.
Resources * Book: Doing Good Better * Effective Altruism * The 1% Rule
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are on a quest for The Holy Grail of retirement - that is, the ability to maximize spending in a way that is sustainable without any uncomfortable changes, no matter how long you live.
Learn more about:
- Accumulation vs Deaccumulation
- How does inflation and future tax rates factor in to your retirement planning
- Sequence of Return Risk and what volatile market performances can do to your long term investment performance
- Longevity Risk and trying to account for how long your retirement years may be
Memorable Quotes
- “Retirement income planning is one of the nastiest, hardest problems we face in financial planning“
- “The holy grail of retirement is you spend the maximum amount early in retirement, without the fear of running out of money, without having to make any unexpected changes to how much you spend”
- “The biggest financial problem retirement is this: how much money should we be withdrawing, on a monthly basis, from our portfolio once we stop working? How quick or how slow and by how much should we be drawing down our money and spending it?"
Resources * The 2017 Retirement Confidence Survey
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are talking about what to do in the middle of a global crisis. It may be your instinct to try to adjust your investment strategies as a crisis emerges, but is it the best course of action?
Learn more about:
- What to do with your investment strategy in times of uncertainty
- How people react to these market dips and how panic often drives it
- History of average market declines after major financial crises and where they were one year later
- When is the right time to invest extra money?
Memorable Quotes
- “We should be expecting the market to go up and go down and for various storms to happen. If the market is crashing for some reason it doesn’t make sense to make an investment decision on this, because the media is giving a certain thing certain attention at a certain point in time."
- “If I’m timing the market I’m basically saying that I can predict the best 10 days over the 4,000 days. That’s what the statement for someone to make!”
- “If someone asks, I have some extra money is now a good time to invest? The answer is always yes, as long as there is an appropriate goal for the money"
Resources * Even God Couldn’t Beat Dollar-Cost Averaging * William N. Goetzmann and Dasol Kim - 2017
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are looking at successful retirement and your portfolio performance. While we know portfolio success is measured by rate of return, not many people understand the actual concept of rate of return.
Learn more about:
- Understanding the difference between Accumulators (wealth builders) and Decumulators (retirees)
- Why performance is not a good measure of success and how people incorrectly compare performance
- Shifting focus from performance based investing to goal based investing
Memorable Quotes
- “They hit this retirement point, and all of a sudden it’s not about growing your wealth anymore, as it is about using your wealth. That was the point of growing your wealth, so that you could live off of it. That’s the whole concept of retirement“
- “I don’t know if someone can have a robust retirement and their goal being a certain percentage rate of return, or a certain portfolio size. To help you do what? Why? The money is there to fund a purpose not find a purpose”
- There are really two problems that retirees have when it comes to performance: One, they use performance as a measure of success. Problem two, they evaluate that performance incorrectly“
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are discussing what the game of chess can teach us about preparing for retirement. Chess can offer some wonderful insights into preparing our savings in a way that allows us to squeeze the most out of retirement income. Understanding the rules of the game and focusing on what you can control are two key parts of a winning retirement strategy.
Learn more about:
- Putting the right pieces of retirement in the right spots
- Understanding the rules and abilities of each piece of your retirement
- Developing a plan to use your retirement pieces together
- The importance of preparing your assets 3-5 years before retirement at a minimum
Resources
Importance of withdrawal order in retirement
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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Welcome to Awe-Inspired and Retired! Caleb and Riley are looking at a wide range of resources examining behavioral finance and how it can impact your retirement. We all have cognitive biases that can manifest in our investing, and it is important to remove those emotions. The sensible approach to investing for retirement should look to eliminate behavioral bias and make decisions with a data driven algorithmic strategy.
Learn more about:
- Tactical Allocation Vs Static Indexing
- The role human behavior plays in investing
- Shifting from a short-term investment strategy to a long-term investment strategy
Memorable Quotes
“Often in short-term decisions is where emotional bias exist. That is where they live. They live in the right now choices“
Resources
Understanding behavioral finance can help advisors working with retirees
Ten Ways Behavioral Finance Can Boost Retirement Security
Tactical Allocation Vs Static Indexing: Which One Wins?
Column: Legendary investment guru Peter Lynch says the move to index funds is a ‘mistake.’ He’s wrong
Financial protection tactics as you near retirement
Self-Directed Investors: Insights and Experiences April 2021
Here Are the 3 Biggest Mistakes Retirees Make, and How to Avoid Them
Behavioral Finance: Understanding How Biases Impact Decisions
Why most investors underperform the markets
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
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How early is too early to start planning retirement? Should someone in their thirties look to work with a Retirement Advisor? Caleb and Riley of InvestorDNA are asking which decades in your life make the most sense to work with a Retirement Advisor and what the process may look like from decade to decade. Learn more about how to make your retirement planning more efficient and save you on taxes.
Learn more about:
- Income planning and withdrawal planning
- Shifting your mindset from accumulation to decumulation
- The top questions you should be asking a Retirement Advisor you are considering working with
- Using the right tool for the job
Memorable Quotes
“You can’t control the weather, but you can control your planning”
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
Meet Caleb and Riley
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Where did the idea of retirement come from and what is the best reason to retire? In this episode of Awe-Inspired and Retired, Caleb and Riley are sharing more about the history of retirement, and the disadvantages of a forced retirement versus planning retirement with purpose.
Learn more about:
- The origin and purpose of retirement in Ancient Rome
- Otto Van Bismarck
- How increased life expectancy has impacted retirement and retirement planning
- The 5 most meaningful reasons to retire
Memorable Quotes
“Don't buy your home gym before you have decided if you want to work out, and don't try to find your meaning of life before you have even realized what you enjoy. Take baby steps”
Resources
Angus Reid Institute Research on Retirement in Canada
I Just Retired. Why Am I Unhappy?
Hosted by Caleb Miller and Riley Anderson of InvestorDNA
Meet Caleb and Riley
Book a Call
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Welcome to Awe-Inspired and Retired! In this first episode, Caleb and Riley are sharing more about the purpose of the podcast and the importance of knowing how to retire. Why don’t more people know how to approach retirement? Shifting your mindset from accumulation to deaccumulation and having the right personal retirement plan are pivotal to executing retirement effectively.
Learn more about:
- A story of someone in the Rubbish Retirement Zone
- The importance of having a fulfilling purpose to replace your work with
- The danger of underspending in retirement
- What 69% of people aren’t doing with their retirement plan
Memorable Quotes
- “Money can’t help you find a purpose, but it can help you fund a purpose”
- “A deep fulfillment in life and a vision for your wealth that exists outside of the workplace. That is a robust retirement”
- “You need to Retire before you retire”
Resources
Retirement Confidence Survey
To spend or not to spend?
Spending Retirement Assets
Retirees don't spend money like they think they will
Retirees Aren't Spending Enough of their Nest Eggs
Many retirees have a big problem. It isn't what you think.
Why Are Retirees Not Spending More?
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
Welcome to Awe-Inspired and Retired! Caleb Miller and Riley Anderson of InvestorDNA are helping you understand how to plan for retirement, how to work with a Financial Advisor, finding purpose after retiring, and other retirement tips along the way.
Be sure to rate and subscribe to Awe-Inspired and Retired on Apple Podcasts, Spotify, or wherever you listen for new episodes every week.
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