#76 — Adam Chapman: How to Spend, Give, and Live Well in Retirement
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Our guest this episode is Adam Chapman — Certified Financial Planner and founder of YESmoney, a London, Ontario practice built around helping Canadians spend with confidence in retirement. With nearly two decades in financial planning, Adam chairs the Estate Planners Council of London and is a founding member of the Financial Planning Association of Canada. He has spent his career helping retirees figure out what they actually want and start saying "yes" to their money. In this episode, Dave and Adam dive into the practical side of retirement income planning, from paying yourself first in retirement to managing cash flow once the paycheques stop. Adam walks through his three retirement planning checkpoints, the real costs of long-term care versus in-home care and why guaranteed income floors matter more than ever. They also break down annuities in detail, including copycat annuities, piggyback annuities and how pairing them with delayed government benefits can take the sting out of inflation fears. The conversation also explores the emotional side of money in later life, including the struggle many couples face when selling the family home and the psychology of spending in retirement, the subject of the book Adam is currently writing. Whether you're approaching retirement or already there and wondering how to spend without worry, this episode is full of practical, grounded advice from a planner who spends every day helping Canadians make the shift from saving to spending. Show Notes (00:00) Intro & Disclaimer (00:55) Intro to Adam Chapman (02:08) What East Side Mario's Taught Adam About Business (06:18) How to Pay Yourself First in Retirement (08:22) Living in the Woods in Forest City (09:37) Retirement Advice for Dave (11:32) The Real Costs of Long-Term Care vs. In-Home Care (13:06) Retirement Income Planning and Cash Flow Management (16:40) Adam's Three Retirement Planning Checkpoints (19:44) The Emotional Struggle of Selling the Family Home (23:39) Writing a Book on the Psychology of Spending Money in Retirement (27:28) Why Guaranteed Income Floors Matter More Than Ever (29:50) Copycat Annuities (32:31) Managing Inflation Fears with Annuities and Delayed Benefits (37:18) Piggyback Annuities and Financial Peace of Mind (39:55) Giving Living Legacies vs. Inheritances (45:56) Die With Zero and Turning Money into Memories (48:12) Conclusion