Retirement Straight Talk With Paul & William

Funding a child's education is one of the biggest financial goals for Canadian families. And the Registered Education Savings Plan (RESP) is best tool to get there.In this episode, Paul and William break down everything you need to know about RESPs. This episode will help you avoid costly RESP mistakes and take full advantage of this powerful, tax-efficient account.What You'll Learn:✔️ The amazing tax benefits of RESPs✔️ How to earn $7,200 in free government grants✔️ Why group or scholarship RESPs are a bad idea✔️ Smart RESP contribution strategies ✔️ What to do if your child doesn't go to college or university✔️ The best way to draw down the RESP and minimize taxes✔️ Family vs. individual RESPsResources:

Thinking about selling your business?Passing it on to the kids?Or just want to make sure you're not leaving money (or a giant tax bill) on the table?This week, Paul and William walk through the smart steps every business owner should take before exiting their business.They cover:- Why most family business transitions fail (and how to avoid it)- How to use the lifetime capital gains exemption and potentially save millions in tax- What an “estate freeze” is and how it helps pass the business to your kids- Why planning years in advance can save you a fortuneResources:

Could your estate plan cost your family money and stress? This week, Paul and William talk with Jandy John, Estate and Trust Director at Concentra Trust, about common estate planning errors. You'll learn: - How to properly choose your executor - The hidden traps of joint accounts and beneficiary designations - Why clear communication can save your family from conflict - Essential estate planning strategies for business owners - How to manage digital assets in your estate Resources:

Running a business takes everything you've got—but if you're not also planning for the future, you could be leaving serious money on the table. This week, Paul and William break down seven essential (and often missed) tax and retirement strategies tailored specifically for incorporated Canadian business owners. You'll learn: ✅ How to structure your compensation to keep more money in your pocket ✅ Why many business owners misunderstand RRSPs—and what that mistake could cost ✅ A powerful retirement savings tool most entrepreneurs have never heard of ✅ How to sell your business in a tax-efficient way (and potentially save millions) ✅ Estate planning moves that can help you protect your legacy—and avoid family conflicts Resources:

This week, Paul & William break down ten essential truths about investing, simplifying complex financial concepts into clear, actionable insights.This episode cuts through common myths and misunderstandings to deliver strategies that help investors make smarter, rational decisions about their money.In this Episode You'll Discover:How the concept of average returns often misleads investors.The fundamental drivers behind stock market growth.Why valuation metrics don't predict short-term market movements reliablyUnderstanding why the economy and the stock market aren't perfectly aligned.And more!Resources:

Running a business is tough—but why do so many fail within 5-10 years? In this episode of Retirement Straight Talk, Paul and William break down the key reasons most business owners struggle, burnout, or go under—and, more importantly, how to avoid becoming a statistic. Whether you're a sole practitioner or managing a team of 50, this episode will help you shift from working in your business to working on your business. Inspired by The E-Myth Revisited by Michael Gerber, they explore: ✅The three business owner personalities: Technician, Manager, and Entrepreneur ✅ Why systemizing your business is the key to long-term success ✅ How to create a business that runs without you—not one that runs you ✅ The essential processes every business must have: lead generation, sales conversion, operations, and customer service ✅ How to overcome the fear of delegation and free up your time

You might think you have a full financial plan—but do you really? In this episode, we break down why most people don't have the comprehensive financial plan they believe they've paid for. We'll cover:1️⃣ Why you likely don't have the full financial plan you think you do.2️⃣ What a truly comprehensive financial plan includes.3️⃣ The cost of missing key elements in your plan—what it could mean for your financial future.4️⃣ How to determine whether your financial plan is complete or missing critical pieces.Download our FREE whitepaper: "How to Build Your Dream Retirement. And Avoid 7 Common Mistakes That Can Completely Derail It!"- https://westendwealth.ubpages.com/Connect with Paul & William:Book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2025-03Book a call with William: https://calendly.com/westendwealth/introcallSubscribe to our newsletter: https://www.westendwealth.com/newsletterConnect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Are Trump's proposed tariffs about to shake up the stock market? In this episode, Paul & William break down the latest tariff proposals, their potential impact on the economy, and what investors should do to prepare. They break down:✅ What tariffs are and how they actually work✅ The potential economic impact on Canada and investor portfolios✅ Lessons from past tariff wars and what history tells usDownload our FREE whitepaper: "How to Build Your Dream Retirement. And Avoid 7 Common Mistakes That Can Completely Derail It!"- https://westendwealth.ubpages.com/Connect with Paul & William:Book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2025-02Book a call with William: https://calendly.com/westendwealth/introcallSubscribe to our newsletter: https://www.westendwealth.com/newsletterConnect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Does investing in an RRSP make sense as a business owner? Or are you better off keeping your money in your corporate holding company or reinvesting in your business? In this episode, we discuss the pros and cons of each approach, tax implications, and the diversification benefits of different strategies.Connect with Paul & William:Book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2025-02Book a call with William: https://calendly.com/westendwealth/introcallSubscribe to our newsletter: https://www.westendwealth.com/newsletterConnect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Confused about whether to invest in an RRSP or TFSA? In this episode, we break down the key differences between these two accounts and help you determine which one aligns best with your financial goals. Connect with Paul & William:Book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2025-01Book a call with William: https://calendly.com/westendwealth/introcallSubscribe to our newsletter: https://www.westendwealth.com/newsletterConnect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2025-01Book a call with William: https://calendly.com/westendwealth/introcallIn this episode, we dive into the key financial lessons from 2024 that will help investors in 2025 & beyond. Topics discussed include: Why listening to the financial media will make you a worse investor The rise of AI as the next big revolution and why investors should approach it with caution. The crucial distinction between the economy and the stock market—and what it means for your portfolio. What it means when the stock market hits all-time highs and how to interpret it. Join us as we break down these insights to help you simplify your financial decisions and stay on the path to creating and protecting your wealth. Connect With Paul & William:Subscribe to our newsletter: https://www.westendwealth.com/newsletterConnect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Book a call with Paul: https://calendly.com/westendwealthpla...Book a call with William: https://calendly.com/westendwealth/in...On this episode of Retirement Straight Talk, Paul and William Barreca shed light on the financial planning mistakes that business owners often make—and how to avoid them. We discuss practical steps to help you maximize your wealth while planning for the future.Business owners will hear about the following + much more:Preparing your business for a successful saleCapturing all the tax advantages available to business ownersHow to determine whether to pay yourself a salary or a dividendHow to ensure your business doesn't lose valueConnect With Paul & William:Connect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2024-11Book a call with William: https://calendly.com/westendwealth/introcallIn this episode of Retirement Straight Talk, Paul & William take a deep dive into the growing trend of turning to social media for financial advice.With more people relying on influencers and online content to guide their financial decisions, Paul and William review some of the worst financial advice they've encountered on platforms like X, Instagram, and YouTube.From misleading investment strategies to unrealistic retirement tips, the hosts highlight the risks of following advice from unqualified sources.Tune in to learn how to spot red flags in online financial advice and protect yourself from costly mistakes.Connect With Paul & William:Connect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2024-11Book a call with William: https://calendly.com/westendwealth/introcallIn this episode, we dive into practical strategies and legal insights to help you protect your inheritance during a divorce.Inheritances are often a significant part of family wealth, but without the right precautions, they can become vulnerable to division in a divorce settlement. We'll guide you through the steps you need to take to secure your inheritance and preserve your financial legacy.In This Episode, You'll Learn:- How divorce impacts inherited assets and why they may be at risk- Legal protections you can put in place to safeguard your inheritance from divorce claims- Key financial planning strategies, including prenups, postnups, and asset separation tactics- What to consider when managing inheritance funds, such as keeping them separate from marital assets- Common mistakes people make that jeopardize their inheritance and how to avoid themConnect With Paul & William:Connect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2024-10Book a call with William: https://calendly.com/westendwealth/introcall?back=1Avoiding costly financial mistakes is key to building lasting wealth and reaching your goals. Are you making the most of tax planning, protecting yourself against lifestyle inflation, or staying disciplined with your investments? In this episode of Retirement Straight Talk, Paul & William delve into the nine critical financial missteps that can disrupt your financial journey—and how to sidestep them. We explore real-life scenarios and proven strategies, helping you avoid common pitfalls like market timing and emotional investing while setting yourself up for long-term success. We discuss:The hidden dangers of market timing and missing key investment daysHow effective tax planning can significantly grow your wealthThe impact of lifestyle inflation and how to keep your spending in checkReal-world examples showing the power of consistency in investingThe importance of having the right insurance to protect your financial plan We share practical strategies and real-life scenarios to help you sidestep these mistakes, setting you up for a more secure financial future.Connect With Paul & William:Connect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2024-10Book a call with William: https://calendly.com/westendwealth/introcall?back=1Paul and William dive into the effects of the recent interest rate cuts on your financial lives. We explore how lower rates impact fixed income investments and what that means for retirees relying on stable income streams. We also discuss whether interest rate cuts influence stock and bond prices, and the potential shifts in the real estate market you should watch for.Throughout the episode, we break down these complex topics to help you better understand the influence of rate cuts on your investments and financial planning and more.Connect With Paul & William:Connect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2024-09Book a call with William: https://calendly.com/westendwealth/introcallPaul and William discuss what everyone should consider before buying a vacation home. This includes the purpose of the purchase, understanding the full costs involved, and weighing the costs of buying vs. renting. The conversation also touches on the tax implications of purchasing properties and the importance of considering estate planning and different ownership structures.Connect With Paul & William:Connect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Click here to book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2024-09Click here to book a call with William: https://calendly.com/westendwealth/introcallIn this episode, we dive into one of the most critical yet often overlooked decisions in estate planning: choosing the right executor. Selecting the wrong person for this role can lead to unnecessary delays, family conflict, and costly legal battles.We'll break down the essential qualities to look for in an executor, explore the common mistakes people make when choosing one, and provide practical tips to ensure your estate is handled smoothly and efficiently. Whether you're updating your own estate plan or advising someone else, this episode will help you make a thoughtful, informed choice.Connect With Paul & William:Connect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Click here to book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2024-09Click here to book a call with William: https://calendly.com/westendwealth/introcall?month=2024-08It's election season in the US.How much of an impact does the president have on the stock market?What has historically happened in the stock market during presidential election years?Has the stock market performed better under Republican or Democrat presidents?Paul & William discuss all these questions & dive into the data so that you can better understand how this election will impact your portfolio.Connect With Paul & William:Connect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Click here to book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2024-07Click here to book a call with William: https://calendly.com/westendwealth/introcallAccording to a recent study, Canadian investors have allocated 50% of their stock portfolios to Canada.This week, Paul & William discuss the concept of home bias and its implications for Canadian investors. They compare the performance of Canadian investments to global ones and explore the risks and benefits associated with concentrating in Canadian stocks.Key takeaways include:- Diversifying investments globally can help to increase returns and lower volatility over long time periods- The reasons for why a certain level of home bias is sensible for Canadian investorsConnect With Paul & William:Connect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Click here to book a call with Paul: https://calendly.com/westendwealthplanning/introcall?preview_source=et_card&month=2024-07Click here to book a call with William: https://calendly.com/westendwealth/introcallThis week, Paul & William look at the different ways in which splitting income with your spouse can help save you big on taxes.They explore various approaches applicable to different situations, including those for both businessowners and salaried employees, emphasizing the potential benefits and legal considerations of each strategy.The key takeaways from this episode include:Income splitting is an effective strategy for couples to reduce their overall tax burden by taking advantageof each spouse's differing income levels and tax rates.The importance of understanding the rules and requirements for each strategy to ensure they areimplemented correctly and effectively, avoiding potential legal and tax penalties.Connect With Paul & William:Connect with William on LinkedIn:/ williambarrecaConnect with Paul on LinkedIn:/ paulbarrecaFollow William on X:/ willbarrecaThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Click here to book a call with Paul: https://calendly.com/event_types/6106...Click here to book a call with William: https://calendly.com/westendwealth/in...This week, Paul & William discuss the importance of personal finance for children and the benefits of instilling good money habits from a young age.After listening, you will better understand:- Why early financial education is essential for creating lasting wealth and preventing future financial dependencies- How practical experiences with money, such as managing a bank account and making informed purchase decisions, are key to learning financial responsibility- Strengthening the habit of saving from a young age sets the groundwork for a financially secure adulthood.- Introducing children to the concept of investing early on helps them understand the value of money and the importance ofgrowing their savings over time.Connect With Paul & William:Connect with William on LinkedIn: / williambarreca Connect with Paul on LinkedIn: / paulbarreca Follow William on X: / willbarreca The views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Proper financial planning is more than investment management.This week, Paul & William review everything an advisor should be doing to provide full value to youThey tackle the essential elements of an effective financial plan, the misconceptions surrounding financial advisors' roles, and the real value advisors should bring to their clients. Listeners will come away with better expectations of what to expect from an advisor and the different ways they can help to improve financial outcomes.Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul and William delve into the most pressing question inretirement planning: "How much is enough?"They explore the complexities of financial planning, the psychological impactof not knowing your financial future and practical strategies to ensure a comfortable retirement.The episode is packed with insights on avoiding common pitfalls, understanding the importance of a dynamic plan, and balancing lifestyle desires against financial realities.After listening, listeners will have a better understanding of:- The psychological impact of not knowing your financial future- Practical steps people can take, including establishing clear income goals and understanding the costs associated with their retirement lifestyle and goals- The need for flexibility to accommodate life's unpredictability- How market volatility can impact your retirementConnect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Is the stock market a casino that's rigged against you?Gambling and speculation have always existed in the stock market.In some ways, the rise of the internet and the rapid exchange of information has made this more pervasive.Understanding the difference between gambling and investing is one of the most important things you can do to improve your experience in the stock marketKey points discussed include:- The long-term stock market is the exact opposite of a casino- Human beings have a natural inclination to transact more, which tends to produce worse outcomes in investing- How Canada's Pension Plan (CPP) & the world's largest hedge fund both show that the stock market is not rigged in favor of the richConnect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul & William explore some of the most common mistakes they see high-income earners make.They also debunk common myths about what's required to build and maintain wealth.Topics discussed include, but aren't limited to:The right investment strategies for high-income and high-net-worth individualsBehavioural biasesHow to optimize the use of registered accountsLifestyle creepListeners will come away with a better understanding of building and maintaining wealth.Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

The Canadian Federal government announced significant changes to capital gains taxes in its latest budget.This week, Paul & William explain the changes in the budget and how it will affect Canadians.Namely, these changes will affect you if:You have significant non-registered investmentsYou have any corporately held investmentsYou own an investment propertyYou own a businessThese changes will significantly alter the financial plans of many Canadians.Listeners will come away with a better understanding of the changes and actionable strategies to reduce their impact.Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul is joined by special guest Dennis Serre, President & CEO of Serre Financial.Dennis brings over 30 years of taxation planning experience to clients and financial advisors across the country. He began his career with the CRA, and he remains a leader in the industry by researching and providing unique tax alternatives to business owners and high-net-worth individuals.Paul & Dennis discuss the use of family trusts for business owners and how they can be used to reduce taxation.Topics discussed include, but aren't limited to:The use of family trusts for tax deferralTax on Split Income (TOSI) rules and how family trusts can reduce their impactHow family trusts can be used to reduce taxation on sale of capital property such as real estateUsing a family trust to multiply the Lifetime Capital Gains ExemptionHow estate freezes can be used to pass a business onto the next generationConnect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul and William discuss common strategies individuals use to reduce or avoid paying taxes on their estates.Through their discussion, Paul and William discuss the pros and cons of each strategy and what type of individuals are best suited for them.At the end of this episode, you will have a better understanding of how different assets are taxed in the estate, and what strategies make sense to help you reduce what your estate will pay in taxes.Topics discussed include, but are not limited to:Joint ownership of real estate and investment accountsThe tax treatment of RRSPs, RRIFs and TFSAs in the estateThe pros and cons of Segregated FundsHow trusts can be used to minimize estate taxes, and who they're suitable forConnect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul & William reflect on their careers thus far. Drawing from their wealth of experience in wealth management and financial planning, they share 14 invaluable lessons they've learned that can empower listeners to take control of their financial futures. Throughout the show, Paul & William share personal anecdotes and real-world examples that illustrate the impact of sound financial decision-making.Topics discussed include:How experiences shape your perception of riskIntelligence doesn't guarantee investment successThe benefits of being an optimistHow overthinking can be just as bad as not thinking at allAnd much more!Links From Today's Episode:Ben Carlson "20 Lessons From 20 Years of Managing Money" https://awealthofcommonsense.com/2024/03/20-lessons-from-20-years-of-managing-money/Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Is your financial planner truly providing value by focusing solely on investments? This week, Paul & William discuss the misconception that the most important job of a financial planner is to pick investments. While investment management is undoubtedly important, various aspects of financial planning often get overlooked. From comprehensive retirement planning to tax optimization strategies, estate planning, risk management, and even personal finance education, there's a myriad of areas where a skilled financial planner can substantially impact their clients' financial well-being. They discuss the common pitfalls of fixating solely on investment discussions, such as neglecting crucial aspects of financial planning that could greatly benefit clients in the long run. Listeners will gain a deeper understanding of the diverse roles financial planners can play in their lives beyond simply picking stocks or mutual funds. Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul & William examine 6 underappreciated risks of retirement that often get overlooked. While many focus on financial preparedness, there are several other crucial risks are frequently underestimated or ignored altogether.Join us as we uncover 6 underappreciated risks that could significantly impact your retirement year, including:Critical Financial Events: Unexpected expenses like healthcare can easily erode savings. Paul and William discuss strategies to mitigate against theseMarket Volatility: The stock market can be unpredictable, and retirees are not immune to its fluctuations. Discover effective investment strategies to mitigate the impact of market volatility on your retirement portfolio.Inflation Erosion: Understand how inflation can erode purchasing power over time, affecting retirees' ability to maintain their desired standard of living throughout their retirement years.Longevity Risk: Examine the challenges posed by longer life expectancies, including the potential for outliving retirement savings and the importance of planning for extended lifespans.Throughout the episode, Paul & William provide actionable advice and practical tips for navigating these underappreciated risks, empowering listeners to make informed decisions to safeguard their retirement. Whether you're approaching retirement or already enjoying your golden years, this episode is a must-listen for anyone concerned about securing their financial future.Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Whether you're a business owner, investor, or individual taxpayer, understanding how to minimize your tax liability is crucial for building and preserving wealth. Our conversation covers a spectrum of actionable insights, from commonly overlooked deductions to advanced tax planning techniques that can make a significant impact on your bottom line.We kick off the episode by demystifying the fundamentals of tax reduction, exploring the key principles that serve as the foundation for any effective strategy. From there, we move into practical tips and tricks that you can implement right away to legally and ethically lower your tax burden.Expect to gain valuable insights on:1. Investment Opportunities: Uncover tax-efficient investment strategies that not only grow your wealth but also minimize the tax implications associated with capital gains, dividends, and more.2. Retirement Planning: Learn how smart retirement planning can lead to tax advantages, with a focus on tax-advantaged retirement accounts and distribution strategies.3. Estate Planning: Delve into the intersection of tax reduction and estate planning, ensuring that your assets are transferred efficiently while minimizing tax implications for your heirs.By the end of this episode, you'll be equipped with a toolkit of practical tips and strategies to implement immediately, paving the way for a more tax-efficient financial future. Tune in and take control of your finances with our insightful discussion on mastering the art of tax reduction.Connect With Paul & William:Click here to book a call with Paul: https://calendly.com/westendwealthpla...Click here to book a call with William:https://calendly.com/westendwealth/in...Connect with William on LinkedIn: https://www.linkedin.com/in/williambarreca/Connect with Paul on LinkedIn: https://www.linkedin.com/in/paulbarreca/Follow William on X: https://twitter.com/willbarreca The views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Studies have shown that investors consistently underperform the investments they own.Why does this happen?It's because our brains have been hijacked by our biology. Human evolution started about 4-7 million years ago. Humans have spent more than 99% of their evolutionary history in the hunter-gatherer environment. So many of our natural tendencies today are shaped by what was good for our ancestors.This week, Paul & William discuss how many of these deeply engrained tendencies cause us to make poor investment decisions.After listening, you will be better aware of your natural human biases and how to limit their effects to help you become a better investor.Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

We're entering RRSP season in Canada. This week, Paul & William do a deep dive into this powerful tool for retirement savings, and guide you through the essential do's and don'ts.After listening to this episode, you will have a better understanding of RRSP strategies that can help you maximize the account to its full potential.Paul & William will also explore common RRSP mistakes as well as situations where an RRSP is not the optimal savings account.Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul & William look back on what happened in 2023, and how investors can use these lessons to become better investors into 2024 and beyond.Lessons investors can learn include:The truth behind Wall Street stock market forecasts: Do they have any value?What drives stock market performance year to yearWhy managing emotions is the hardest part of investingHow pervasive and impactful are the big news events of the day?The importance of looking beyond a dividend yieldNo investment is foolproof foreverConnect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul & William discuss the five biggest financial mistakes that prevent Gen Xers from reaching their financial goalsThey shed light on why these mistakes occur and easy ways that you can avoid them and better secure your financial futureConnect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterRead Paul's blogRead William's blogThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Business owners are unique individuals with unique financial needs.With a number of business owner clients & being business owners themselves, Paul & William have a unique insight into the financial needs of business owners.This week, Paul & William discuss the 5 biggest mistakes business owners make & how you can avoid them. Our discussion is packed with practical advice and strategies to help business owners sidestep these mistakes and pave a smoother path toward financial freedom. Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul & William break down the main ways that people can access financial services/advice.They try to provide an unbiased view and discuss the benefits and drawbacks of each service.The objective is to give you a clearer idea of which service is the best fit for you and your unique situation.Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterRead Paul's blogRead William's blogThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul & William are joined by Mario Sgro, Chartered Accountant and Partner at VS LLP Charted Professional AccountantsPaul, William & Mario discuss ways that individuals and business owners can minimize their tax burdenIdeas discussed include:1. Tax efficient retirement income withdrawals2. Deferral of capital gains3. Tax loss harvesting4. Home office expenses5. How to qualify for the pension tax creditConnect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterRead Paul's blogRead William's blogThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul & William discuss the top 10 questions they get asked by people who are interested in working with them.Topics covered include:How much do you cost?What services do you provide?Are you a fiduciary?What will our relationship look like?What is your investment philosophy?Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterRead Paul's blogRead William's blogThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

In this episode, Paul & William discuss the top 10 questions they get asked by clients.Join us as we discuss some of the top concerns on the minds of our clients and help provide actionable insights on these common financial concerns.Questions covered include:Is it better for me to contribute to an RRSP or TFSA?Do I have enough to retire?How do Registered Education Savings Plans (RESPs) work?When should I take OAS & CPP?Can I use joint ownership to avoid probate?Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterRead Paul's blogRead William's blogThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Financial planning is a personalized journey, and finding the right advisor-client fit is crucial. In this episode, Paul & William explore the qualities and characteristics of clients who benefit most from our services.They also dive in and explore the most common types of problems they solve for their clients, including:1. Savings and Investments: Discover the strategies we employ to help clients build wealth, whether it's for major life milestones, education, or retirement.2. Retirement Planning: Understand the importance of early retirement planning and how we assist clients in creating a secure retirement roadmap.3. Risk Management: Explore the ways we protect our clients from unexpected financial setbacks 4. Tax Efficiency: Delve into the world of tax planning and how we optimize our client's financial plans to minimize tax liabilities.Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterRead Paul's blogRead William's blogThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Welcome back to Retirement Straight Talk With Paul & William. In today's episode, we're going to pull back the curtain and share the story of who we are and why we chose the path of financial advising.Join us, as we dive deep into our personal journeys and experiences that led us to become financial advisors.You'll get an inside look at the passion and dedication that fuels our desire to make a difference in people's lives. Through personal anecdotes and insights gained from years in the industry, we'll discuss the importance of financial literacy, the impact of financial decisions on our lives, and the satisfaction of helping others achieve their financial goals.Understanding our journey will shed light on the dedication and passion that underpin our commitment to your financial success. We'll reveal the values and principles that guide our every decision as financial advisors.Connect With Paul & William:Click here to book a call with PaulClick here to book a call with WilliamConnect with Paul on LinkedinConnect with William on LinkedinFollow William on TwitterRead Paul's blogRead William's blogThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Join us as we delve into the pivotal responsibilities and profound impact an executor holds in administering the final wishes of a departed loved one.We explore the multifaceted role of an executor, who acts as a custodian of the deceased's legacy, entrusted with safeguarding their assets and ensuring their intentions are meticulously executed.You will come away from this episode with a better understanding of:The responsibilities and challenges that face an executorHow to choose the best executor to carry out the wishes of your estateCommon mistakes made when choosing an executorSolutions for when you don't have an optimal person in your life to act as your executorIf you have any feedback, questions, or topics you'd like us to cover, send us an email at info@westendwealth.comWould you like to chat with Paul or William? Have a question for them? Set up a call by following these links:Paul: https://calendly.com/westendwealthpla...William: https://calendly.com/westendwealth/in...The views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Join hosts Paul and William as they dismantle common misconceptions that hinder financial growth. Through a captivating conversation, they tackle a range of common myths that often lead investors astray, offering clarity and insights to empower listeners on their financial journeys.They explore topics such as the best approach to choosing investments, the notion of stock market bubble indicators and critically examine "buying the dip" as a strategy. By unraveling these misconceptions, Paul and William strive to equip listeners with the knowledge and understanding necessary to make informed investment decisions. Each myth they debunk brings investors one step closer to maximizing their financial potential.If you have any feedback, questions, or topics you'd like us to cover, send us an email at info@westendwealth.comWould you like to chat with Paul or William? Have a question for them? Set up a call by following these links:Paul: https://calendly.com/westendwealthpla...William: https://calendly.com/westendwealth/in...The views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Join Paul & William as they explore various ways you can optimize your investment portfolio to minimize your tax burden and maximize your returns.They discuss tax planning strategies such as tax-loss harvesting, asset location optimization, as well as some common misconceptions that cause investors to pay higher than needed taxes.If you have any feedback, questions, or topics you'd like us to cover, send us an email at info@westendwealth.comWould you like to chat with Paul or William? Have a question for them? Set up a call by following these links:Paul: https://calendly.com/westendwealthpla...William: https://calendly.com/westendwealth/in...The views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul & William discuss the potential benefits and risks associated with adjusting your portfolio at retirement and share their perspectives on how to approach this critical decision.Retirement is a significant milestone in anyone's life, and it brings about a host of financial considerations. One crucial decision is determining if and how you should modify your investment strategy to align with your changing circumstances.We explore the significance of retirement goals and lifestyle aspirations, emphasizing the importance of aligning your investment strategy with your specific needs during this phase of life. We also expand on factors such as risk tolerance, time horizon, income needs, and legacy planning.If you have any feedback, questions, or topics you'd like us to cover, send us an email at info@westendwealth.comWould you like to chat with Paul or William? Have a question for them? Set up a call by following these links:Paul: https://calendly.com/westendwealthpla...William: https://calendly.com/westendwealth/in...The views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

In this eye-opening podcast episode, we delve into an article titled "Investors Flock to Loudest, Least Skilled Voices on Social Media."Drawing from the study's insights, we shed light on the phenomenon of individuals flocking to the loudest and most unqualified voices in the digital realm when it comes to financial decision-making.We explore why these influencers, despite lacking true expertise, often gain substantial followings and how this phenomenon impacts investors' decision-making processes.Discover why critical thinking, research, and seeking advice from qualified professionals remain essential for making informed financial decisions in an increasingly digital world.If you have any feedback, questions, or topics you'd like us to cover, send us an email at info@westendwealth.comWould you like to chat with Paul or William? Have a question for them? Set up a call by following these links:Paul: https://calendly.com/westendwealthpla...William: https://calendly.com/westendwealth/introcallThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

Join Paul & William for part 2 of 10 surefire ways to ruin your financial future.Paul & William discuss Dr. Daniel Crosby's research which sheds light on the profound correlation between your behavior patterns, market volatility, and the ultimate realization of your long-term financial goals. Referred to as the "behavior gap," this space between market returns and realized returns is now recognized as a critical factor that influences investment success.Savvy investors are now realizing that they are every bit as central to their success as the actual vehicles in which they are invested.Dr. Crosby's first book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, was a New York Times bestseller. His second book, The Laws of Wealth, was named the best investment book of 2017 by the Axiom Business Book Awards and has been translated into Japanese, Chinese, Vietnamese and German. His latest work, The Behavioral Investor, is an in-depth look at how sociology, psychology and neurology all impact investment decision-making.Check out the Laws of Wealth by Dr. Crosby here: https://www.amazon.ca/Laws-Wealth-Psychology-investing-success/dp/0857195247If you have any feedback, questions, or topics you'd like us to cover, send us an email at info@westendwealth.comWould you like to chat with Paul or William? Have a question for them? Set up a call by following these links:Paul: https://calendly.com/westendwealthpla...William: https://calendly.com/westendwealth/introcallThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.

This week, Paul & William discuss research from psychologist and behavioral finance expert Dr. Daniel Crosby on 10 surefire ways to ruin your financial future.Dr. Crosby's research sheds light on the profound correlation between your behavior patterns, market volatility, and the ultimate realization of your long-term financial goals. Referred to as the "behavior gap," this space between market returns and realized returns is now recognized as a critical factor that influences investment success.Savvy investors are now realizing that they are every bit as central to their success as the actual vehicles in which they are invested.Join us for part 1 of our 2-part episode, and discover 10 key principles for ensuring that you minimize the behavior gap and maximize achieving your financial goals.Dr. Crosby's first book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, was a New York Times bestseller. His second book, The Laws of Wealth, was named the best investment book of 2017 by the Axiom Business Book Awards and has been translated into Japanese, Chinese, Vietnamese and German. His latest work, The Behavioral Investor, is an in-depth look at how sociology, psychology and neurology all impact investment decision-making.Check out the Laws of Wealth by Dr. Crosby here: https://www.amazon.ca/Laws-Wealth-Psychology-investing-success/dp/0857195247If you have any feedback, questions, or topics you'd like us to cover, send us an email at info@westendwealth.comWould you like to chat with Paul or William? Have a question for them? Set up a call by following these links:Paul: https://calendly.com/westendwealthpla...William: https://calendly.com/westendwealth/introcallThe views and opinions expressed in this podcast may not necessarily reflect those of IPC Securities Corporation. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Hosted on Acast. See acast.com/privacy for more information.