The Canadian Retirement Roadmap

When the world's #1 golfer wins a major and admits the euphoria lasts 'a few minutes before dinner,' it opens a window into something most retirees feel but few can name: the Arrival Fallacy.  After 30+ years building a portfolio and counting down to the finish line, the moment actually arrives — and it doesn't always feel the way you imagined. That's not failure. That's human biology.
In this episode, Patrick Briscoe unpacks the psychology behind retirement's hidden transition: why your brain chemistry works against you at the exact moment you've earned the right to enjoy it, and what to do about it. You'll discover the Five Types of Wealth you actually need to plan for (only one of them is financial), a simple framework for designing retirement in chapters, and a reading list to go deeper. 
A different kind of episode — and one of the most important.
 
Timestamps:
0:00 — Introduction: Scottie Scheffler and 'What's for dinner?'
2:13 — What is the Arrival Fallacy? (Tal Ben-Shahar & Sisyphus)
5:13 — Meet Grace: A retirement that looked perfect on paper
6:33 — The Dopamine Drop: Why your brain works against you
7:44 — Proportionality Bias and Hedonic Adaptation
08:49 — The Myth of Golden Years
09:45 — The Five Types of Wealth (Sahil Bloom framework)
12:52 — Four Practical Strategies: Redefine Retirement Planning
18:17 — Three Big Takeaways 
19:14 — Five Book Recommendations for Deeper Reading
 
👍 Don’t miss future episodes of The Canadian Retirement Roadmap Podcast! Subscribe here on YouTube and explore past episodes + free resources → https://bayswaterwealth.ca/podcast
 
📚 Already a Bayswater client? Request your complimentary copy of any one of the 5 recommended books from this episode→ https://forms.gle/nwhp2jsWr3rXDRpw6 
 
Request your complimentary copy of any of the Financial Success Series books → https://forms.gle/r3LpvBVPom72FjkR8 
  📗Financial Success for Pre-Retirees
  📙Financial Success for Retirees 
  📕Financial Success for Women by Women
 
🌐 Website: http://bayswaterwealth.ca
💼 LinkedIn:  https://www.linkedin.com/in/patrick-briscoe/ 
📸 Instagram:  https://www.instagram.com/bayswaterwealth/ 
📘Facebook: https://www.facebook.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. 

🏠 Your home may be your biggest asset — but is it actually supporting your retirement?
In this episode of The Canadian Retirement Roadmap, Patrick Briscoe, CFP® and Certified Executor Advisor, walks through five strategies to put your home equity to work in retirement.
Learn about downsizing, reverse mortgages (CHIP), HELOCs, rental income, and selling to rent — with Canadian-specific tax insights including the Principal Residence Exemption, OAS clawback thresholds, and more!
 
Timestamps:
00:00 Introduction: Home Rich Cash Poor
01:42 Why Home Equity Matters
02:45 Tax Free Home Gains
03:54 Strategy 1: Downsizing/Right-Sizing
06:01 Strategy 2: Reverse Mortgage
08:46 Strategy 3: Home Equity Line of Credit (HELOC)
11:03 Strategy 4: Generating Rental Income
13:17 Strategy 5: Sell Your Home & Rent
15:59 Tom & Diane’s Plan
17:39 Three Key Takeaways
19:20 Next Steps & Wrap Up
 
👍 Don’t miss future episodes of The Canadian Retirement Roadmap Podcast!Subscribe here on YouTube and explore past episodes + free resources → https://bayswaterwealth.ca/podcast
 
📘 Request your complimentary copy of Financial Success for Pre-Retirees → https://docs.google.com/forms/d/e/1FAIpQLScMBqJG9BeN0xFiBtTPYLHbwSKuOAV50iwJF8yRziSQXsK6vg/viewform
 
🌐 Website: http://bayswaterwealth.ca
💼 LinkedIn: https://linkedin.com/in/patrick-briscoe/
📸 Instagram: https://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, 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 Roadmap00:22 The Risks of Adding Kids as Joint Owners02:38 Understanding Legal Exposure and Intent04:43 Loss of Control Over Assets05:55 Tax Implications of Joint Ownership07:45 Family Conflict and Joint Ownership08:54 Principal Residence Exemption Issues10:56 Government Benefits and Estate Planning12:32 Alternatives to Joint Ownership15:43 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 Roadmap01:01 The Emotional Paradox of Generosity02:02 Understanding the Rule of 7203:53 Case Study: Jane Smith's Financial Plan08:25 Steps to Give Without Regret09:51 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 Book06:08 The Emotional Side of Money08:57 Real Financial Planning13:34 Investment Discipline and Practical Advice17:56 The Purpose of Money18:37 Spending Money for Happiness21:16 Financial Planning and Spending22:36 Portfolio Management Insights25:47 The Alpine Style Life28:56 Embracing Change33:03 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 Podcast00:35 Introduction to Clear Estate with Devin Miller03:11 Understanding Estate Planning vs. Estate Settlement04:18 Clear Estate's Tools and Services for Estate Planning06:00 Navigating the Estate Settlement Process13:13 Choosing the Right Executor20:15 Clear Estate's Technological Innovations22:54 Partnership with Investment Planning Council27:17 Ensuring Confidentiality and Professional Standards30:52 Final Thoughts and Key Takeaways