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Women's Wealth Canada

Women's Wealth Canada

Glory Gray
Negocio, Educación

This educational podcast, hosted by Wealth Advisor Glory Gray, helps Canadian women make the most of their money and their life.

37 - Financial Planning: What it is and Why Every Wealthy Woman Needs It
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  • 37 - Financial Planning: What it is and Why Every Wealthy Woman Needs It

    Too many Canadians don’t have a financial plan. That’s what a recent FP Canada report found. 

    Only 25 per cent of Canadians are working with a financial advisor and 30 per cent of those surveyed say they don't have a financial plan at all. 

    Interestingly, younger people are more likely to say they don't have a financial plan but wish they did.

    What caught my eye about this survey is that Canadians don’t even agree on what a financial plan is. Some think it is an investment plan, that is, a plan for what types of investments you’ll put money into. Other people think a financial plan is a written plan that shows where you are today when it comes to your financial circumstances,  where you plan to be tomorrow and how you’ll get there. That definition is closer to the truth. 

    A financial plan looks at the big picture. It helps you set short-term and long-term financial goals and identify steps to achieving them.  In this episode, we look at:
    Financial Planning
    What Your Plan Should Include
    How a Plan Can Help You
    Why You Might Not Already Have a Plan
    And most importantly ... how to get one!

    Hosted by Glory Gray

    📖 Women's Wealth Canada Blog
    📽 The Real Questions to Ask Before You Retire
    🔻12 Smart Questions to Ask When Interviewing a Wealth Advisor
    👉 Free Wealth Consultation
    🍏 Join our Community - Client Application Form

    Website:GloryGray.com
    Facebook:    @GloryGrayWealthSolutions
    LinkedIn:    Glory Gray

    Music
    Background Intro music: Positive Determination
    Other incidental by Purple Planet Music

    This podcast is for informational purposes only and should not be construed as investment, tax or legal advice. It is not an offer to sell or buy or an endorsement, recommendation or sponsorship of any entity or security cited. Mutual funds offered through Portfolio Strategies Corporation. Other products and services provided through Glory Gray Wealth Solutions.

    All content © 2024 Glory Gray.

    Tue, 02 Apr 2024
  • 36 - Five Ways to Recharge Your Financial Goals

    Each year, I like to begin by talking about goals. And specifically about you and your financial goals.  Have you set them?  Are you making progress?  Do you have a plan?

    Let's talk about 5 ways to recharge your financial goals this year.

    What financial goals did you set for yourself last year? Which ones did you achieve and which are you still working on? Which ones do you need to work on first?

    What goals no longer serve you? Life changes every year. Our goals do too. Let it go if it’s not going to make your life better.

    In this episode, we will dive deep into the five essential ways to revive your financial goals.

      Sort Your Goals: Evaluate, eliminate, and prioritize your financial goals for the year. Money Matters: Understand where your money is coming from to fund your 2024 goals. Consider additional income sources and optimize withdrawals for retirees.Emergency Fund TLC: Tend to your emergency fund—essential for reducing stress and providing a financial cushion during unforeseen circumstances.Debt Demolition: Choose between snowball and avalanche methods to pay down debt faster. Pick what suits you, but remember never to accumulate credit card debt.Portfolio Rebalance: Annually reassess and diversify your investment portfolio for stable growth. 

    Hosted by Glory Gray

    📖 Women's Wealth Canada Blog
    📽 The Real Questions to Ask Before You Retire
    🔻12 Smart Questions to Ask When Interviewing a Wealth Advisor
    👉 Free Wealth Consultation
    🍏 Join our Community - Client Application Form

    Website:GloryGray.com
    Facebook:    @GloryGrayWealthSolutions
    LinkedIn:    Glory Gray

    Music
    Background Intro music: Positive Determination
    Other incidental by Purple Planet Music

    This podcast is for informational purposes only and should not be construed as investment, tax or legal advice. It is not an offer to sell or buy or an endorsement, recommendation or sponsorship of any entity or security cited. Mutual funds offered through Portfolio Strategies Corporation. Other products and services provided through Glory Gray Wealth Solutions.

    All content © 2024 Glory Gray.

    Thu, 15 Feb 2024
  • 35 - S3 E6: What’s the Difference Between CPP and OAS?

    Welcome to the Women's Wealth Canada podcast, where we discuss everything related to government retirement benefits in Canada. In this episode, Glory Gray discusses everything you need to know about the Canadian Pension Plan or CPP, Old Age Security or OAS, and the Guaranteed Income Supplement or GIS.

    In this episode, she will give an overview of both CPP and OAS, including how they are funded, what the maximum benefit amount is, and some of the advantages and disadvantages of starting CPP early or delaying it until 70 for an 8.4% guaranteed return. She'll also cover when OAS can be taken and the additional benefits of delaying it after 65.

    She includes a brief overview of CPP and OAS.

    The Canadian Pension Plan is a mandatory benefit for all working Canadians aged 18 or older. You contribute to this plan throughout your working years, and when you retire, you receive monthly payments based on your contributions. The amount you receive depends on factors such as the number of years you contributed, your average earnings, and your age when you start receiving payments.

    On the other hand, Old Age Security is a benefit that is available to all Canadians aged 65 or older, regardless of whether they worked or not. Unlike CPP, you do not need to contribute to OAS, but the amount you receive is based on the number of years you lived in Canada after the age of 18.

    She dives into some of the advantages and disadvantages of starting CPP early or delaying it until 70. Delaying CPP can result in a higher benefit amount, but it may not always be the best option for everyone. We'll explore different scenarios and help you determine what might be best for you.  She will also discuss the basics of when OAS can be taken and the additional benefits of delaying it after 65. Delaying OAS can result in a higher benefit amount as well, and we'll explore whether this is a good strategy for you.

    And what about a Guaranteed Income Supplement or GIS and how it provides additional support for lower-income retirees. She dives into the eligibility requirements and how to apply for this benefit.

    So, if you're ready to learn everything you need to know about CPP, OAS, and GIS, be sure to tune in. Don't forget to download, subscribe, and share with your friends and family who may also benefit from this information.

    PS - We are taking a break after this episode.  See you in 2024!

    Hosted by Glory Gray

    📖 Women's Wealth Canada Blog
    📽 The Real Questions to Ask Before You Retire
    🔻12 Smart Questions to Ask When Interviewing a Wealth Advisor
    👉 Free Wealth Consultation
    🍏 Join our Community - Client Application Form

    Website:GloryGray.com
    Facebook:    @GloryGrayWealthSolutions
    LinkedIn:    Glory Gray

    Music
    Background Intro music: Positive Determination
    Other incidental by Purple Planet Music

    This podcast is for informational purposes only and should not be construed as investment, tax or legal advice. It is not an offer to sell or buy or an endorsement, recommendation or sponsorship of any entity or security cited. Mutual funds offered through Portfolio Strategies Corporation. Other products and services provided through Glory Gray Wealth Solutions.

    All content © 2024 Glory Gray.

    Tue, 06 Jun 2023
  • 34 - S3 E5: How to Plan for Changes in Your Health and Lifestyle in Retirement

    This week on the Women's Wealth Canada Podcast, we are talking about How to Plan for Changes in your Health and Lifestyle in Retirement. 

    As you make plans for retirement, it's important to remember that your health and lifestyle needs may change over time. 

    One of the first things you'll need to do is to prepare a financial plan when meeting with a financial planner. This will give you an idea of your cash flow requirements over the years for the rest of your life. You'll need to know how much money is coming in and going out each year and whether you have enough saved to make it all work.

    Research shows that expenses in our 60s are typically higher than they are in our 80s and beyond. During our 60s and 70s, we may be traveling more, visiting our grandchildren, and ticking things off our bucket list. Travel health insurance premiums typically increase with age, making traveling harder in our 80s and beyond.

    As we reach our 80s, out-of-pocket healthcare costs tend to increase, which is why many people prefer to stay at home more often. In-home care is available, and it's necessary to start gathering information about available services near you. Assisted living facilities can also be similar to being on a cruise, and they provide a great deal of activities and a strong social element.

    It's essential to maintain your physical, emotional, and spiritual health in retirement, along with your financial freedom. Finding an activity that you enjoy, preferably with a social element, is essential for good health as we age. Purpose is also a deep driver of well-being, and knowing what you value is the best place to start. An exercise to try is to answer the following three questions for a week: 
    what you need more of in your life:
    what are 10 things you're grateful for today, and 
    what are five words that describe you best and why. 

    After a week, you'll be able to see some patterns and start focusing on doing things that are important to you to have a happy retirement.

    Remember, as you adapt your home to fit your needs and preferences, you'll be able to stay in it for longer. The longer you can adapt your home, the more comfortable you'll be in it. Planning for changes in your health and lifestyle may seem complicated, but with the right tools and preparations, you can be comfortable in your retirement years.

    Join us inside the podcast to learn more.

    Hosted by Glory Gray

    📖 Women's Wealth Canada Blog
    📽 The Real Questions to Ask Before You Retire
    🔻12 Smart Questions to Ask When Interviewing a Wealth Advisor
    👉 Free Wealth Consultation
    🍏 Join our Community - Client Application Form

    Website:GloryGray.com
    Facebook:    @GloryGrayWealthSolutions
    LinkedIn:    Glory Gray

    Music
    Background Intro music: Positive Determination
    Other incidental by Purple Planet Music

    This podcast is for informational purposes only and should not be construed as investment, tax or legal advice. It is not an offer to sell or buy or an endorsement, recommendation or sponsorship of any entity or security cited. Mutual funds offered through Portfolio Strategies Corporation. Other products and services provided through Glory Gray Wealth Solutions.

    All content © 2024 Glory Gray.

    Tue, 09 May 2023
  • 33 - S3 E4: Simple Estate Planning for Everyone with Jennifer Leach Sandford, Pt. 2

    In this episode of the Women's Wealth CanadaPodcast, we sit down with Jennifer Leach Sandford, a lawyer specializing in wills and estates. Jennifer shares valuable insight into the importance of having a will in place and when is the best time to prepare one, especially if you have a health diagnosis that may lead to progressive illness.

    We also delve into the differences between a will, power of attorney, and healthcare directives. While a will provides instructions for the distribution of your assets after you die, power of attorney and healthcare directives come into play when you lose capacity. Your healthcare representative and personal care representative make decisions on your behalf, such as whether you're going into long-term care, while the power of attorney controls the administration of your assets.

    Jennifer also shares some fascinating stories of cases where wills were challenged, and why it's essential to work with a lawyer who ensures the individual giving the instructions has the necessary capacity.

    Don't miss this informative episode where you'll learn everything you need to know about estate planning. So, sit back, relax, and listen to the end to discover how you can protect your future and your loved ones. 💡💼💰

    Our Guest
    Jennifer Leach Sandford, Horne Coupar LLP
    Jennifer is a lawyer practicing in the areas of wills, estates, trusts, tax planning, and taxpayer representation.  She joined Horne Coupar LLP in 2021 prior to which she worked as an income tax and trusts lawyer in Montreal and Toronto for over fifteen years.

    Hosted by Glory Gray

    📖 Women's Wealth Canada Blog
    📽 The Real Questions to Ask Before You Retire
    🔻12 Smart Questions to Ask When Interviewing a Wealth Advisor
    👉 Free Wealth Consultation
    🍏 Join our Community - Client Application Form

    Website:GloryGray.com
    Facebook:    @GloryGrayWealthSolutions
    LinkedIn:    Glory Gray

    Music
    Background Intro music: Positive Determination
    Other incidental by Purple Planet Music

    This podcast is for informational purposes only and should not be construed as investment, tax or legal advice. It is not an offer to sell or buy or an endorsement, recommendation or sponsorship of any entity or security cited. Mutual funds offered through Portfolio Strategies Corporation. Other products and services provided through Glory Gray Wealth Solutions.

    All content © 2024 Glory Gray.

    Tue, 18 Apr 2023
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