Today I have Jessica Moorhouse on the show, who is an Accredited Financial Counsellor, an award-winning blogger, the host of the ‘Mo Money Podcast, and the founder of the Millennial Money Meetup. You might have also seen her on CBC News, The Globe and Mail, The Financial Post, and many other news channels and publications here in Canada. In today’s episode, you’ll learn the highest impact actions that we Canadians can do to really make a dent in increasing our savings. We cover how to best manag...
Aug 25, 2020•1 hr 27 min•Season 1Ep. 69
Your credit score is a very important thing to manage as it lets you get the lowest possible rates on your mortgage, car loans, lines of credit, and any other debt that you may wish to take on now and in the future. In Canada, the best loans with the best terms are reserved for people with high credit scores. So, even if you don’t need any sort of loan now (like a mortgage, car loan, or a line of credit), it is something that you should keep an eye on and strive to improve, as you don’t want to ...
Jul 28, 2020•40 min•Season 1Ep. 68
Today we’re going to cover how you can best automate the management of your investment portfolio, while still paying the lowest possible fees. We also share best practices when it comes to sticking to your investment plan. To help us discuss this, I have Brendan Wood on the show who is one of the founders of Passiv , a Canadian fintech company that builds tools for DIY investors. I’m a long-time user of their tools and they've saved me many hours of tedious work when managing my portfolio. So, I...
Jun 23, 2020•2 hr 44 min•Season 1Ep. 67
In this episode, we cover the types of debt tools available to us Canadians, and how to get the lowest rate on them. In other words, what debt options do we have in our Canadian toolbox that we can potentially use, and what are the pros and cons of each? My goal for you is that by the end of this episode, you'll know what your options are in Canada so that if you ever do need a loan, you know exactly what's available to you, which types of loans have the lowest and highest rates, and which ones ...
May 21, 2020•1 hr 7 min•Season 1Ep. 66
There’s been a lot of new programs and initiatives put in place by the Canadian government due to COVID-19 to help you financially. In this episode, I’m going to take you through what’s out there so that you can make sure you don’t miss out on some free money or benefits that can really help you during this difficult time. I’ve actually gone through everything that I could get my hands on at the Canada Revenue Agency site, so this is all coming right from the source, and this episode’s intention...
Apr 16, 2020•1 hr 6 min•Season 1Ep. 65
A lot has been happening with the significant stock market declines and coronavirus, so I’ve been getting lots of questions such as: How am I adapting our portfolio and investment strategy to these declines? Should we be buying into the market at these low prices or selling? Should we be waiting out for the market bottom and then buying? What are the other experts that I listen to and trust saying? With this episode, the goal is to answer these top questions for you. Now, of course, the health a...
Mar 18, 2020•32 min•Season 1Ep. 64
I recently realized that I haven’t really provided an update on our early retirement story and more importantly, the lessons learned from it so far. Therefore my goal for this episode is to share with you what we did wrong and what I think we did right, that allowed us to achieve financial independence by the time I was 32. Please don’t interpret this episode as some sort of showing off, bragging, or an ego boost. I absolutely hate arrogance and hubris (it’s actually ones of my biggest pet peeve...
Feb 11, 2020•29 min•Season 1Ep. 63
Today we’re going to cover some of the top financial questions asked by Canadians, including the number one question, “Am I saving enough for retirement?”. The way we came up with these questions, is that as you may know, the fee-for-service financial planner that I use is John Kalos , and on my site, I have a page where you can sign up for a free 30-minute consultation with him. And so, lots of the listeners of the show have met with John for free to get their questions answered and he then too...
Jan 09, 2020•1 hr 13 min•Season 1Ep. 62
In this episode, we talk about how we can set our investments up so that we can live off them in retirement (whether it’s a traditional retirement or early retirement). We also cover the important subject of how to stress-test our investment portfolio so that we can help ensure that we don’t run out of money in our retirement. You can also use these tools to see (approximately) if you actually have enough to retire now (or to see how much more you need). New Tool: Get Your Credit Score Checked f...
Dec 03, 2019•2 hr 43 min•Season 1Ep. 61
Today we have insurance industry insider, Laura McKay on the show, who reveals some of the top tricks and tactics used in the insurance industry, to keep us overpaying. She covers what to look out for, and what we can actually do on our end to make sure that we get the best rates possible, and aren't overpaying for insurance that we may not even need. Laura used to work as an actuary, and is now the Co-founder and President of PolicyMe , which is a great tool for Canadians that you can use for f...
Oct 30, 2019•1 hr 14 min•Season 1Ep. 60
Our guest today is Jason Heath, CFP who has been providing fee-only, advice-only financial planning since 2001 and is one of Canada’s best-known fee-only financial planners. He is currently a personal finance columnist for the Financial Post, MoneySense and is also a regular contributor to RetireHappy.ca. I’ve been reading his insightful financial planning articles on MoneySense for years, so I thought it would be great to have him on the show to discuss how we Canadians can optimize our investm...
Sep 20, 2019•2 hr 39 min•Season 1Ep. 59
Today we have Meghan Chomut on the show who is a financial planner specializing in real estate for both your primary residence and rental properties. She has also personally done property flipping before so I thought it would be great to have her on the show to teach us some lessons and best practices that we can apply to both our primary residence (whether we are an existing or aspiring homeowner), as well as learn more about what to consider and look out for when deciding to invest in a rental...
Aug 21, 2019•1 hr 12 min•Season 1Ep. 58
Today we have Kristy and Bryce on the show who are Canada's youngest retirees. Kristy retired at 31 while Bryce was 32, and today I pick their brains on how they pulled it off, how they invest, and how they structured their investment portfolio to ensure that they never run out of money. Kristy and Bryce also just launched a book on how they retired early, and in it they share a repeatable step-by-step plan on how anybody can retire early. It's a very practical book, I really enjoyed it, and w...
Jul 16, 2019•2 hr 40 min•Season 1Ep. 57
House hunting season has officially begun, so I thought it would be a good idea to have an insider from the mortgage industry on the show to learn some tops tips on getting the lowest possible mortgage rate, whether you are looking for a new mortgage, or have one that you’ll need to renew soon. In the interview, we also look at what else you should look for in a mortgage, in addition to just getting the lowest rate possible. In other words, what are the different clauses or contract terms that y...
May 27, 2019•1 hr 14 min•Season 1Ep. 56
A common problem that holds some Canadians back from paying the lowest possible fees in investing by becoming a DIY (do-it-yourself) investor, is that it does take a bit of learning and practice. Also since we’re not taught this in school, it can be intimidating. Even those that aren't intimidated by it can at times become annoyed with all the manual administrative work that is required when it comes to being a DIY investor (myself included). For example, whether you're a new or an experienced i...
May 06, 2019•54 min•Season 1Ep. 55
Today I have the creator of the TFSA (Tax Free Savings Account) on the show who shares his best TFSA tips and strategies, while also discussing his initiative to enhance financial literacy in Canada. His name is Kevin McCarthy, and while working in Ottawa, Kevin was responsible for the financial literacy file for Minister Flaherty and helped launch the federal government’s Financial Literacy Panel. He played a key role in the development and naming of the Tax-Free Savings Account (TFSA), the sin...
Apr 08, 2019•1 hr 1 min•Season 1Ep. 54
RRSP season is upon us (the last day is March 1) and to help you avoid the top RRSP mistakes that Canadians make, I've brought back the financial planner that my family and I use, John Kalos. We had a live webinar where we went over these top mistakes, and it gave everyone a chance to get their questions answered live. What we cover in this episode: •How to use RRSP season to save you thousands in taxes (it ends March 1st!) •How to make RRSPs work for you to boost your net worth, instead of just...
Feb 21, 2019•1 hr 2 min•Season 1Ep. 53
Today we have author and Canadian investor, Larry Bates on the show. Larry is the author of the book “Beat the Bank”, where you shows (specifically for Canadians), how you can build a larger retirement nest egg by switching from high-cost mutual funds to more efficient, low-cost investment products. He also explains how you can do it in just a couple of hours per year. He talks about some of the secrets in the investment industry that many Canadians don’t know about, he decodes some of the myste...
Jan 23, 2019•1 hr 12 min•Season 1Ep. 52
This is part 2 of our episode on the only 4 ways to invest, where we discuss the pros and cons of each method, so that you can make an informed decision on the investing type that is best for you. Ultimately, this decision on which of the 4 ways you pick has an enormous impact on your net worth and how early you can retire, as it can easily save and earn you an extra tens of thousands of dollars long term, and even hundreds of thousands of dollars for many investors through reduced fees, proper ...
Dec 11, 2018•45 min•Season 1Ep. 51
Today we’re going to cover the 4 ways that you can invest. Now why is this important? Well first, the benefit you gain from knowing this will differ depending on whether you’re an investor just getting started, or someone that’s already been investing for a while. If you’re a new investor, then it’s critical to know the pros and cons of the options available to you, so that you can make the best decision that’s right for you. In other words, you really want to look at the menu before deciding, a...
Nov 25, 2018•50 min•Season 1Ep. 50
Today I have Gene Simmons on the show, from the rock band KISS. Now while you probably first heard of Gene from his music, he’s also very involved in a multitude of investments and different business. With decades of experience under his belt, I thought it would be great to pick his brain on what drives him to keep going after already achieving this high level of success. We also dive into how he selects his investment and business opportunities, how he maintains peak performance, and lessons he...
Oct 30, 2018•28 min•Season 1Ep. 49
Canadian investors are having a pretty eventful time in the markets right now, as the legalization of marijuana is happening today as I record this episode. Also, let's not forget the hit that the markets took last week. For a long time now we've seen very little volatility in the markets, and it's been a relatively smooth and enjoyable ride. Well finally, last week, we finally got to experience how markets can behave (in the negative sense), and I think how you felt during this period is a good...
Oct 17, 2018•30 min•Season 1Ep. 48
This is a special episode of the show as we are adding a new series of episodes specifically for investors. The show will continue to go on just like it has, but in addition to the types of episodes that you're used to, I'm going to publish another new episode every month which will benefit you in two ways: First, it's going to keep you informed on what is currently going on in the markets with your investments, and the investing world in general. We hear a lot of doom and gloom in the media, th...
Sep 18, 2018•45 min•Season 1Ep. 47
Today’s guest is Alex Grodnik from Wall Street Oasis which easily one of the largest and best sites out there, for anybody looking to have a career on Bay Street or Wall Street. Alex also hosts their podcast which is called “Moving Up”, but what’s also really interesting about him is he actually quit his really well-paying job on Wall Street to start his own business, so I thought this would also be a great episode for anybody who's maybe a little dissatisfied with their job, and is considering ...
Sep 05, 2018•41 min•Season 1Ep. 46
Today, we’re going to tackle the debate of whether you should focus on growth vs dividends when it comes to your investing. Dividends are of course very popular. Everybody likes having that passive cashflow show up in their accounts, but are we limiting our net worth if we focus too much on dividends, as opposed to choosing a more balanced and growth-oriented portfolio? In this episode, we’ll also talk about how to best withdraw money from your investment portfolio, and how to decide if you shou...
Jul 18, 2018•1 hr 11 min•Ep. 45
We hadn't had an entrepreneurship/small business episode for a while so I thought it would be great to have the CEO of CanSpace on the show to share some best practices on running your own site, and top mistakes to avoid. This episode is for you if you already have, or are considering having your own online business, a blog, or even as a place to showcase your portfolio to recruiters and companies that you may want to work for. Now I definitely consider having your own business on-the-side as on...
Jun 26, 2018•22 min•Season 1Ep. 44
Today we’re going to talk all about dividend investing for Canadians, including shedding some light on using dividend investing as part of your investing strategy. We’ll take a look what to look for, and of course the different types of dividend investing available to Canadians. Now if you’re a long time listener of the show, then you know that there are quite a few investing strategies out there. Dividend investing is definitely one of the really popular ones, especially among those that like t...
May 24, 2018•34 min•Ep. 43
Today I’m excited to have Edward Kholodenko on the show who is the CEO of Questrade. If you’re a long time listener of the show then you know that I actually use Questrade to buy all my investments. So, when Questrade reached out to me about interviewing their CEO I thought it would be a great opportunity to ask him the questions that I have, and that I know a lot of the listeners have about their brokerage. I currently save at least $480 per year in fees by using Questrade so needless to say I’...
Mar 05, 2018•29 min•Season 1Ep. 42
This is part 2 of the series on how to execute an early retirement, with financial planning veteran John Kalos . In this episode, we use our financial plan as a case study so that you and other Canadians can get some insights on how to execute an early retirement. The goal is to give you a better understanding of what a financial plan should include, what it can do for you, and give you some insider tips from a real ex-banker on what to look out for when you encounter a financial planner or advi...
Feb 25, 2018•1 hr 2 min•Season 1Ep. 41
In this episode, we use our financial plan as a case study so that you and other Canadians can get some insights on how to execute an early retirement. The goal is to give you a better understanding of what a financial plan should include, what it can do for you, and give you some insider tips from a real ex-banker on what to look out for when you encounter a financial planner or advisor trying to sell you a service like that. If you do have some questions for John (the financial planner we used...
Feb 20, 2018•1 hr 5 min•Season 1Ep. 63
