We all want to live a richer and more fulfilled life, and with smart financial planning, it’s possible. That’s what the Living Richer podcast is all about – helping you to align your means with the things that mean most to you, so that you can enjoy your life today, while planning for tomorrow. Living Richer is Hosted by Mark Shimkovitz, Vice President at Raymond James Ltd. and head of the Living Richer Wealth Management team. Mark's been a financial advisor for over 25 years and takes a life-goals financial planning approach. Living Richer will give you the knowledge, tools and strategies to clarify your goals and priorities, invest wisely and avoid common mistakes. Mark will help you understand how to develop and implement a personalized financial plan that will put you on the right track and keep you moving toward your goals through life’s many transitions. So whether you are just starting out on your financial journey, or well on your way, Living Richer will have something to offer you. Information in this podcast is from sources believed to be reliable; however, we cannot represent that it is accurate or complete. It is provided as a general source of information and should not be considered personal investment advice or a solicitation to buy or sell securities. Raymond James advisors are not tax advisors and we recommend that clients seek independent advice from a professional advisor on tax-related matters. The views are those of Mark Shimkovitz, and not necessarily those of Raymond James Ltd. Investors considering any investment should consult with their investment advisor to ensure that it is suitable for the investor’s circumstances and risk tolerance before making any investment decision. Securities-related products and services are offered through Raymond James Ltd., member - Canadian Investor Protection Fund. Insurance products and services are offered through Raymond James Financial Planning Ltd., which is not a member - Canadian Investor Protection Fund.
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26 recent
September 12, 202413 min
Ep. 26 Are You Rich or Wealthy? Knowing The Difference Can Change Your Life
Being rich and being wealthy are two very different concepts, and understanding this distinction is crucial to living a richer life.In today’s podcast we dive into how upbringing, environment and personal satisfaction, shape our views on money and happiness. And importantly, we'll discuss why your goal should be focused on building wealth, not the trappings of riches.Resources:Financial Discussion Guide For CouplesEpisode 09: Money and Marriage - How To Discuss Money With Your PartnerEpisode 02: Goals Discovery - The Story of Grace Groner
August 8, 202438 min
Ep. 25 How & Why To Add Low Volatility Investments To Your Portfolio
Can investing in low volatility ETFs actually be the proverbial 'free lunch'? Is it actually possible to improve returns and reduce risk?Our guest on the show is Chris Heakes, Director & Portfolio Manager at BMO Global Asset Management. Chris and I take a deep dive on Low Volatility Exchange-traded funds. We discuss what they are, how they work, how they've performed, and how they can actually help investors to achieve their goals.Finally, we address what’s going on in the markets, why low volatility investments have become a critical part of so many investors' portfolios and how you can incorporate it into your strategy.
June 11, 202417 min
Ep. 24 30 Lessons From 30 Years As A Wealth Advisor
I can still remember that morning in March 1994 when I walked into my new office and began my career as an advisor. While the majority of the people who started with me in my rookie training class didn't make it- (the failure rate is quite high), this year in 2024, I’m proud to celebrate my 30th anniversary as a wealth advisor. I’d like to think that I have learned a few good lessons throughout my career so I thought that in honour of my 30 years as a wealth advisor I’d dedicate this episode to sharing my top 30 lessons for investor success. ResourcesBlog - 30 Lessons From 30 Years As A Wealth Advisor
April 16, 202418 min
Ep. 23 Empty Nesting Done Right - 6 Key Tips
In this episode I welcome back my wife Robin, a certified life coach and member of our Living Richer Wealth Team. Today we’ll highlight our six top tips to making a smooth transition into being an empty nester, which include:Understanding that for everything there is a seasonFocusing on physical healthCelebrating your child’s independenceFinding your purpose and feeding your passionsMaking plansImproving your financial healthResources:How a PR pro who can't add ended up in financial services.
February 27, 202422 min
Ep. 22 Lessons From My Mentor
In this episode of Living Richer, I share with you the top lessons I have learned from the world’s best investor – Warren Buffett. His advice is pretty simple and definitely worth a listen for any investor.
January 30, 202419 min
Ep. 21 Ten Questions To Ask When Hiring A New Advisor
Finding the right wealth advisor is a consequential decision and one that shouldn’t be rushed into. It’s a relationship that will hopefully last for years and have a big impact on your long-term financial wellbeing. But how do you go about finding the right person?In today’s episode, I’m going to break down for you the key steps to take and share what I believe are the 10 most important questions to ask a prospective advisor. We’ll also talk about the red flags you should watch out for, so that by the end of this episode, you’ll feel well-equipped to begin your search.Resources:Living Richer Wealth Management - Home PageSearch for advisor records
December 1, 202321 min
Ep. 20 Tax Planning - Strategies To Keep More Of What You Make
2023 was a year of rapidly rising interest rates and inflation that has forced us all to consider cost-saving opportunities. That’s where tax planning come in - after all, it’s not what you make, it’s what you keep! As we approach year-end, there are a few strategies that you might want to take advantage of to reduce your current and future tax bill. In this episode we’ll cover:· Important tax dates (2:50)· Where to get started (4:52) · Important moves to consider (6:42) · Reviewing your portfolio’s tax efficiency (9:45)· Retirement planning (12:19) · Education funding options (14:42) · Estate planning & charitable giving (16:41) If you’re in a high tax bracket and looking for ways to minimize this cost, don’t miss this episode!Resources:Tax Planning Guide
November 2, 202317 min
Ep. 19 Staying on track when the financial news has you down
With higher inflation, higher interest rates, a potential recession on the horizon and economic headlines flooded with negativity, many are feeling scared and concerned about their financial future.In this episode, my associate, Carol da Silva and I address some of the concerns we’ve heard from clients and listeners. Some of the topics we discuss:1. Why having a solid financial plan is helpful and the importance of taking inventory of where you are when circumstances change (I go through this exercise in detail in Ep.3 Financial Discovery).2. Re-evaluating your goals (I also take a deeper dive into goal setting in Ep. 2 Goals Discovery) and making any necessary tweaks to ensure you stay on-track to meet them. 3. Important things to consider when reviewing your budget and deciding how to allocate your savings during leaner times. 4. For those in retirement, who are drawing from investments to meet your lifestyle needs, I also share some strategies that could be beneficial in our current economic environment. If you’re feeling anxious about your financial future, be sure to give this episode a listen and take a look at the resources linked below.Living Richer Wealth Management Website - Link to our websiteConnect with us on FacebookConnect with us on InstagramPriorities Checklist / Values MapDetailed Budget Worksheet
August 17, 202342 min
Ep. 18 Retirement Living - Helping Seniors Downsize
While the idea of living out your retirement years at home may be appealing, there are some important considerations from both a financial and a lifestyle perspective. For starters, the cost of aging in place is significant. In fact, a recent survey revealed that only 12% of respondents have enough room in their budget to do so. For many homeowners this requires accessing the equity in their single largest asset - which means selling their house. In addition to the financial considerations, aging in place also has important physical and social challenges. In this episode, I connect with Michael Shuster a seniors real estate specialist. He shares his expertise in helping seniors down-size. We discuss the antiquated stigma that has traditionally been associated with retirement homes, important considerations to take into account when making the decision to down-size, the biggest challenges that seniors face when going through this process, and how their adult children (or grandchildren) can help them overcome these. Lastly, Michael shares his top tips for maximizing the value of your home so that you can be in the best financial position to afford your ideal retirement lifestyle. Seniors Real Estate Specialist | Seniors Selling a Home & Downsizing
July 13, 202350 min
Ep. 17 Interview w/ Jeanette Bock, Elder Care Consultant: Planning for Your (or your parents')Later Years
When planning for retirement, most people don’t focus on health concerns, yet the reality is that seven out of 10 people over 65 will eventually need long-term care. This can have a major impact not only for an individual but also for the entire family. In this podcast, I interview elder care consultant Jeanette Bock. Jeanette works with seniors and families to guide them through the many life choices they face as they age. During our discussion, Janette shared her top planning tips to ensure you or an aging loved one can make informed decisions to ease life transitions. We discuss how best to handle a later in life transition to assisted living, aging in place, or when an unexpected crisis occurs. We also talk about the important things you need to consider when planning for retirement years, including:Prioritizing health considerations since this will have the greatest impact on your lifestyle, housing and finances. Starting the conversation with your loved ones about your wishes. If complicated family dynamics are involved or you’re not comfortable bringing up the topic, the importance of involving a third party to facilitate the discussion.Making the right housing choice, whether it be aging in place, downsizing or, if your health is declining, an assisted living facility Making sure you have a Power of Attorney in place, not just for property but also for personal care. This will ensure your healthcare wishes are met. LinksOntario Ministry of Long-Term CareTeepa Snow's Positive Approach To CareAlzheimer Society of TorontoMcMaster Optimal Aging PortalAdvance Care Planning Workbook
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