Tag: Insurance

FEATURE
Downsizing in Retirement: Is It the Right Move for You? (Ep. 31)

Downsizing in Retirement: Is It the Right Move for You? (Ep. 31)

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Do you find the thought of downsizing in retirement daunting?

In this episode, John and Alex Soutsos talk about the complexities of retirement planning and downsizing in a real estate market that often defies expectations. Tackling key topics like maintaining a healthy lifestyle, unlocking capital through real estate, the pros and cons of reverse mortgages, and the emotional and financial impacts of losing a spouse, this episode offers listeners invaluable insights into navigating retirement. Whether you’re contemplating a smaller home or considering how to better support your adult children financially, John and Alex provide the guidance you need to make informed decisions. 

John and Alex discuss: 

  • (02:11) Helping Adult Children Financially Through Real Estate Equity
  • (03:26) Downsizing and Maintaining Mobility in Retirement
  • (07:51) Exploring Home Equity Lines of Credit and Reverse Mortgages
  • (11:34) Emotional and Financial Preparation for Losing a Spouse
  • (17:32) Preparing for the Death of the Final Spouse 
  • (20:33) Financial and Tax Implications at the Death of a Spouse
  • (24:33) Understanding Canadian Inheritance and Capital Gains Taxes
  • And more

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Did you like this episode? Don’t miss the next episode with tax expert Kim GC Moody as he returns to tackle taxes in professional sports and expatriation. Remember to subscribe to us on your favourite podcast channel for more empowering discussions!

FEATURE
Financial Planning Essentials for Later in Life (Ep.29)

Financial Planning Essentials for Later in Life (Ep.29)

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How well have you prepared for unexpected expenses later in life?

John and Alex Soutos discuss the financial considerations and challenges that come with major life events such as divorce and managing declining health. They emphasize the importance of being financially prepared for these events, including the cost of legal advice and proceedings in divorce cases, the need for long-term care insurance, and the impact of declining health on financial stability.

John and Alex discuss: 

  • How much protection can a prenuptial agreement provide? 
  • What is the best way to proceed upon marital breakdown? 
  • What financial and interpersonal challenges can arise with a second marriage, and why is it important to plan and communicate expectations?
  • Why is it crucial to consider long-term care insurance to cover the potential costs of managing declining health?
  • How can proactive financial planning, including the use of insurance, help mitigate the financial risks associated with major life events?
  • And more

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