The Canadian Retirement Roadmap

In this episode of the Canadian Retirement Roadmap, Patrick Briscoe, a Financial Planner and Certified Executor Advisor, explores the potential risks and complications of adding joint owners to your property, investments, or bank accounts.  While it might seem like an easy way to avoid probate fees and simplify estate administration, this move can lead to legal, tax, and family conflicts.  Patrick discusses the motivations behind this common practice, real-world risks including legal exposure, loss of control, tax implications, family conflicts, and the loss of principal residence exemption.  He also offers alternative strategies for simplifying estate planning without incurring additional risks.  Tune in to learn how to protect your family's financial future while keeping things simple and secure. Timestamps: 00:00 Introduction to the Canadian Retirement Roadmap 00:22 The Risks of Adding Kids as Joint Owners 02:38 Understanding Legal Exposure and Intent 04:43 Loss of Control Over Assets 05:55 Tax Implications of Joint Ownership 07:45 Family Conflict and Joint Ownership 08:54 Principal Residence Exemption Issues 10:56 Government Benefits and Estate Planning 12:32 Alternatives to Joint Ownership 15:43 Conclusion and Final Thoughts 👍 Don’t miss future episodes of The Canadian Retirement Roadmap Podcast! Explore past episodes + free resources → https://bayswaterwealth.ca/podcast 🌐 Website: https://bayswaterwealth.ca  💼 LinkedIn: https://www.linkedin.com/in/patrick-briscoe/  📸 Instagram: https://www.instagram.com/bayswaterwealth/ 📞 Want to connect? Book a free 15-minute introductory call (phone or video) → https://bayswaterbookings.ca/prospective-step-1/ ⚠️ Disclaimer: The information shared in this video is for educational purposes only and is not tailored financial advice. Every individual’s situation is unique — please consult with a qualified financial planner before making decisions about your personal finances.

In this episode of the Canadian Retirement Roadmap, host Patrick Briscoe discusses the delicate balance between helping your kids financially and securing your own retirement.  The episode introduces the 'emotional paradox of generosity,' explaining how a well-intentioned gift can lead to future financial shortfalls.  Key financial concepts such as the Rule of 72 are explained to illustrate how money doubles over time and the true cost of present-day gifts. Through a real-life example, Jane Smith's financial planning scenario demonstrates the long-term impact of a $50,000 gift.  Patrick advises on running numbers, asking the right questions, and integrating gifts into your retirement plan to ensure both your and your children's futures remain secure. Download the free guide on retirement gifting and opportunity cost at BayswaterWealth.ca/podcast to further understand the impact of financial generosity.  Follow and share to help others give with confidence. 00:00 Introduction to the Canadian Retirement Roadmap 01:01 The Emotional Paradox of Generosity 02:02 Understanding the Rule of 72 03:53 Case Study: Jane Smith's Financial Plan 08:25 Steps to Give Without Regret 09:51 Conclusion and Resources 👍 Don’t miss future episodes of The Canadian Retirement Roadmap Podcast! Subscribe here on YouTube and explore past episodes + free resources → www.bayswaterwealth.ca/podcast 🌐 Website: www.bayswaterwealth.ca  💼 LinkedIn: https://www.linkedin.com/in/patrick-briscoe/  📸 Instagram: https://www.instagram.com/bayswaterwealth/ 📞 Want to connect? Book a free 15-minute introductory call (phone or video) → https://bayswaterbookings.ca/prospective-step-1/ ⚠️ Disclaimer: The information shared in this video is for educational purposes only and is not tailored financial advice. Every individual’s situation is unique — please consult with a qualified financial planner before making decisions about your personal finances.

In this episode of The Canadian Retirement Roadmap Podcast, Patrick sits down with Carl Richards — CFP®, bestselling author, and creator of the long-running Sketch Guy column in The New York Times. Carl’s new book, Your Money: Reimagining Wealth in Simple Sketches, explores our relationship with money in ways that are thought-provoking, emotional, and refreshingly human. Together, Patrick and Carl dive into several sketches from the new book, discussing: ✅ Why money = feelings ✅ The true meaning of real financial planning ✅ Why boring investments often outperform ✅ Why sometimes, you just need to spend the money ✅ How to live an “alpine style life” with less stuff and more meaning ✅ And how to embrace the reality that things change   💡 Giveaway: Want a chance to win a copy of Carl’s new book? Enter here → www.bayswaterwealth.ca/podcast   📖 Get Carl’s book on Amazon: https://a.co/d/hV9EoyP   Chapters: 00:00 Introduction and Guest Welcome 02:28 Carl Richards' Background and New Book 06:08 The Emotional Side of Money 08:57 Real Financial Planning 13:34 Investment Discipline and Practical Advice 17:56 The Purpose of Money 18:37 Spending Money for Happiness 21:16 Financial Planning and Spending 22:36 Portfolio Management Insights 25:47 The Alpine Style Life 28:56 Embracing Change 33:03 Final Thoughts and Reflections 👍 Don’t miss future episodes of The Canadian Retirement Roadmap Podcast! Subscribe here on YouTube and explore past episodes + free resources → www.bayswaterwealth.ca/podcast 🌐 Website: www.bayswaterwealth.ca 💼 LinkedIn: https://www.linkedin.com/in/patrick-briscoe/ 📸 Instagram: https://www.instagram.com/bayswaterwealth/ 📞 Want to connect? Book a free 15-minute introductory call (phone or video) → https://bayswaterbookings.ca/prospective-step-1/   📲 Connect with Carl: LinkedIn: https://www.linkedin.com/in/thinkingcarl/ X: https://x.com/behaviorgap Instagram: https://instagram.com/behaviorgap YouTube:  @behaviorgap  ⚠️ Disclaimer: The information shared in this video is for educational purposes only and is not tailored financial advice. Every individual’s situation is unique — please consult with a qualified financial planner before making decisions about your personal finances.

In this episode of The Canadian Retirement Roadmap Podcast, Patrick Briscoe is joined by Devon Miller, Director of Partnerships at Clear Estate, to explore the difference between estate planning and estate settlement—and why getting both right is essential for protecting your family and legacy. They explore: ✅ The complexity of the executor's role ✅ Why more Canadians are considering professional executor services ✅ What Clear Estate offers in both estate planning and estate administration ✅ How technology and expert support reduce stress, save time, and cut costs ✅ Patrick’s personal decision to name a professional executor in his own will ✅ How IPC clients can access these services and available resources 🔗 Download free resources: → Estate Planning Checklist → Choosing the Right Executor Guide Available at: https://www.bayswaterwealth.ca/podcast 👉 If you’re navigating an estate or want to get your affairs in order with confidence, this episode is for you. 🔔 Don’t forget to subscribe for more retirement planning tips and expert conversations. 00:00 Welcome to the Canadian Retirement Roadmap Podcast 00:35 Introduction to Clear Estate with Devin Miller 03:11 Understanding Estate Planning vs. Estate Settlement 04:18 Clear Estate's Tools and Services for Estate Planning 06:00 Navigating the Estate Settlement Process 13:13 Choosing the Right Executor 20:15 Clear Estate's Technological Innovations 22:54 Partnership with Investment Planning Council 27:17 Ensuring Confidentiality and Professional Standards 30:52 Final Thoughts and Key Takeaways

Choosing an executor is one of the most important estate planning decisions you’ll make—but it’s often clouded by guilt, obligation, or tradition. In this episode, Patrick Briscoe unpacks why your spouse, child, or sibling might not be the best person for the job—and why that’s okay. You’ll learn what an executor really does, the traits to look for, the risks of choosing the wrong person, and the professional alternatives that can reduce stress and protect your legacy. 📥 Download the free “Choosing the Right Executor” checklist: 👉 http://bayswaterwealth.ca/podcast   ⏱️ Timestamps 00:00 - Introduction to the Canadian Retirement Roadmap 01:24 - The Role and Responsibilities of an Executor 03:05 - Choosing the Right Executor: Qualities to Look For 04:36 - Alternatives to Family Executors 06:19 - Conclusion and Resources 🔔 Enjoying the podcast? Subscribe, like, and share this episode with someone facing estate planning decisions. 🌐 Learn more: http://bayswaterwealth.ca

The first half of 2025 reminded us that markets can turn quickly—and so can investor sentiment. In this episode of The Canadian Retirement Roadmap, Patrick Briscoe, CFP®, recaps the year so far, including: ✅ The story behind "Liberation Day" and the rebound that followed ✅ How global diversification helped cushion volatility ✅ Why behaviour—not just portfolio design—is the key to long-term success ✅ What to expect heading into Q3 of 2025 Whether you’re feeling anxious or optimistic, this short episode will help ground you in the principles that really matter. 📘 Access past episodes & resources: https://www.bayswaterwealth.ca/podcast 🔔 Don’t forget to subscribe and turn on notifications!

In this episode of the Canadian Retirement Roadmap podcast, host Patrick Briscoe speaks with Christine Brunsden, co-founder of Benefits2 and an expert in estate and disability planning, about the underutilized Disability Tax Credit (DTC) in Canada. Christine shares her personal and professional journey helping Canadians navigate the DTC, revealing how many eligible individuals—especially older adults—miss out due to misconceptions, poor guidance from medical professionals, and predatory promoter companies. The conversation dives deep into the qualifications for the credit, how to advocate with doctors, and how the DTC opens doors to other significant financial benefits like the Registered Disability Savings Plan (RDSP) and the new Canada Disability Benefit. Things To Know... • More People Qualify Than You Think: Up to 27% of Canadians could be eligible for the Disability Tax Credit, including those with conditions like incontinence, chronic pain, or cognitive impairments—not just visible or severe disabilities. • Beware of Promoter Companies: Many firms charge 20–30% of retroactive refunds as fees. Benefits2 offers a flat-fee model to help clients avoid these costly traps while getting expert help. • Doctors Often Don’t Know the Rules: Physicians receive no training on the DTC, so patients need to come prepared with information and may need assistance in preparing the forms to improve their chance of approval.

Planning your retirement income isn’t just about how much you’ve saved—it’s about how you use it. In this episode of The Canadian Retirement Roadmap Podcast, financial planner Patrick Briscoe breaks down how to create a well-structured retirement paycheque that ensures financial stability while minimizing taxes. Learn about the various income sources available in retirement, their tax implications, and strategies to optimize cash flow for a stress-free future. Whether you’re just starting to plan or are already retired, this episode will equip you with the knowledge to build a retirement paycheque that works for you. Key Takeaways: Retirement income comes from multiple sources, including pensions, RRSPs, TFSAs, and non-registered accounts, each with different tax treatments. Strategic withdrawal planning can reduce taxes and extend the longevity of your savings, helping you avoid unnecessary government clawbacks. A personalized retirement paycheque ensures stability, covering monthly expenses while maintaining flexibility for unexpected costs and future financial goals. If you’re interested in learning about how you can create a retirement paycheque for your retirement plan, reach out to Patrick and his team at http://bayswaterwealth.ca  Learn more about Patrick and the podcast at http://bayswaterwealth.ca/podcast   

In this episode of The Canadian Retirement Roadmap Podcast, host Patrick Briscoe, a financial planner at Bayswater Wealth Management - IPC Investment Corporation, shares four essential investing principles to navigate challenging economic times. He explores why market movements often disconnect from economic news, why the best minds are working for investors, and how political events have little long-term impact on market performance. Whether you're a seasoned investor or just starting, this episode will provide reassurance and a framework for staying the course during market uncertainty.   [0:14] Overview of the four investing principles [1:30] Principle #1: Markets are forward-looking—today's news is already priced in [3:45] Principle #2: The economy is not the market—why economic data often lags market movements [5:30] Principle #3: The best minds are working for you—why great companies adapt and thrive [7:15] Principle #4: Markets generally aren’t political—long-term investing outweighs short-term political shifts   To learn more about Patrick and his team, visit bayswaterwealth.ca

Coming soon - The Canadian Retirement Roadmap!   To learn more about Patrick and his team, visit bayswaterwealth.ca