How much can you spend in retirement, and how should that amount change when your investments do better or worse than expected?

In this episode, I’m joined by Kenneth Doll and Matthew Lahey from Bracket Planning, who recently created a financial plan and retirement income plan for my wife and me.

One of my biggest questions was how much we could enjoy spending now while still planning for our portfolio to support us for the rest of our lives. We use our experience to explore lessons you can apply to your own retirement or semi-retirement planning here in Canada.

We discuss:

• How to assess whether you have enough to retire or semi-retire.
• How to approach turning your investments into an ongoing income stream.
• The trade-offs between keeping your spending steady and adjusting it as markets change.
• What to look for in a financial planner and which conflicts of interest to watch for.

Ken is a Certified Financial Planner with three decades of experience. Matt is a financial planner and partner at Bracket Planning who brings a background in technology to their planning work.

They’re independent, advice-only planners, meaning they don’t sell investments. This helps avoid conflicts of interest related to investment sales and was one of the key reasons I decided to work with them.

Ken and Matt were nice enough to offer a free, no-obligation introductory call for Build Wealth Canada listeners.

You can request your free call by visiting buildwealthcanada.ca/retire

A Big Thanks to Our Sponsors:

Saily – Get 15% Off Saily Data Plans!

Discount Link for 15% Off: saily.com/buildwealth

If you’re travelling abroad, you need a reliable, fast and secure internet connection on your phone. Not just for safety, but so you can actually enjoy your trip, and not constantly be searching for free wifi at potentially shady locations where often you get an unsecured connection which can pose a security risk. 

Saily ensures that you always have an internet connection when travelling abroad, and prevents you from being charged roaming fees by your current cell phone provider. 

Now you could buy a local SIM card once you arrive at your destination, but that’s a hassle since when your plane lands you’ve got enough on your plate, and now you have to go hunting for a SIM card provider and hope that they don’t rip you off or give you a SIM card that doesn’t even work. 

That’s why when I took my kids to Costa Rica recently, I made sure that I had my data needs covered BEFORE I left for the trip. It was less stress, one less thing to worry about when I arrive, and especially if there’s a flight delay or any issue, I knew I’d have data the moment the plane lands so I can figure things out right away instead of scrambling to get an internet connection somewhere. 

Saily is available in over 200 destinations, they have a 4.7/5 star rating based on over 57 thousand reviews, and you can get an exclusive 15% discount on their data plans by downloading the Saily app and using the code “buildwealth” at checkout.

BMO Asset Allocation ETFs: One of the Lowest Cost Options in Canada:

Do you keep hearing about these “All-in-one ETFs” lately? Well, I have some exciting news:

BMO ETFs just cut the fees on their flagship all-in-one ETFs to 0.15% making them one of the lowest cost options in Canada. That’s right – more value, same smart diversification, all in a single ETF.

Whether you’re just starting out, or simplifying your portfolio, BMOs all in one ETFs make it easy to invest with confidence.

Just Zed it and forget it by considering ETFs like ZEQT, BMO’s All Equity ETF or ZGRO, BMO’s Growth ETF.

“Views from the Desk” Podcast

On this podcast, we often cover best practices that can not only help you now, but will also be relevant throughout your investment lifetime. But what if you also want an update on what is happening with your investments, the markets, and the economy right now?

To help me stay up-to-date on these topics, a great Canadian podcast that I listen to weekly is called “Views from the Desk” (Apple, Spotify).

They provide timely information for us Canadians on what is happening to our investments right now, as well as other key factors affecting us like changes to our interest rates, our inflation, and regulatory changes that we should know about.

The podcast is hosted by BMO ETFs. I’m a huge fan of theirs, I own a lot of BMO ETFs myself, and it’s a great free resource for both new and existing ETF investors.

I hope you check them out. All episodes are available for free in your favourite podcast player. Just search for “Views from the Desk” or click one of the links below:

• Apple Podcasts
• Spotify

ETF Market Insights and BMO ETFs

Catch the latest episodes on YouTube Here.

There are so many opinions on how to invest your money today, but it can be hard to find credible voices to rely on in the world of finance and investing.

One resource I turn to every week is the ETF Market Insights YouTube channel, led by today’s episode sponsor, BMO ETFs.

Market Insights brings in industry experts and their weekly episodes cover the hottest themes like inflation, infrastructure, healthcare, and more. Tuning in helps me stay up-to-date on what’s happening so I can be a smarter investor. You can also submit your own ETF questions, to be answered on the show.

Do yourself a favour and subscribe on YouTube to ETF Market Insights, or visit ETFMarketInsights.com so you can be notified when future episodes go live.

BMO Asset Allocation ETFs:

Asset allocation explains over 90 per cent of the variation in a portfolio’s quarterly returns, so it’s no wonder Canadian investors are turning to these ETFs!

Today’s sponsor, BMO ETFs, offers these innovative all-in-one solutions with the BMO All-Equity ETF (ZEQT), BMO Growth ETF (ZGRO), BMO Balanced ETF (ZBAL), BMO Conservative ETF (ZCON), and more. BMO developed these to help provide investors with ETFs that offer broad diversification and are also low-cost and simple to use.

These ETFs invest in a number of underlying index based ETFs and are rebalanced automatically back to your set asset allocation or mix of stocks and bonds. They offer a hands free approach to investing that is built on disciplined weights to provide exposure to different geographies and sectors all in one solution.

BMO actually offers eight asset allocation ETFs. Learn more at BMOETFs.com.

Links from the episode:

Ken and Matt were nice enough to offer a free, no-obligation introductory call for Build Wealth Canada listeners.

You can request your free call by visiting buildwealthcanada.ca/retire

You can also learn more about their financial planning practice over at bracketplanning.ca

Disclaimer:

This podcast and video is for information purposes. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Particular investments and/or trading strategies should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance. Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or simplified prospectus of the BMO ETFs before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s simplified prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate. “BMO” is a registered trademark of Bank of Montreal, used under licence.