Build Wealth Canada Podcast

Marc Beavis, a seasoned investor in his 60s with decades of experience and a popular YouTube channel, shares valuable insights on navigating the stock market's turbulence. He discusses his personal journey through major crashes like the 2000 tech bust and 2008 crisis, emphasizing the importance of having a solid investment policy to combat emotional responses. Listeners will learn strategies for maintaining calm amidst volatility, the benefits of diversification, and the value of journaling to reflect on past recoveries—tools that can empower investors to thrive in uncertain times.

Jessica Moorhouse, an accredited financial counselor with over a decade of experience, dives into the emotional and psychological barriers to financial freedom. She discusses common patterns like overspending and financial fears, emphasizing the importance of addressing these issues to create lasting change. Moorhouse also shares insights from her book, focusing on how upbringing shapes financial beliefs. Additionally, she offers practical advice for couples managing finances, highlighting the balance between joint and personal money for healthier relationships.

Today I’m excited to have a panel discussion with some of the largest personal finance and investing personalities, here in Canada. Together they have over 46 million views on YouTube (that’s more than the entire population of Canada), and in this episode, I thought it would be great to pick their brains on how they actually invest their own money, what types of investments do they actually buy? what specific ETFs do they buy and what type of investing style have they found to work best for them? They also ask me the same questions so you’ll get a pretty diverse view of the different options out there, for us Canadians, when it comes to investing. You’ll notice too that while some of our styles overlap, we do also diverge in a few areas, and so we also tackle what are the pros and cons of the different styles, allowing you to make an informed and more educated decision, on what is the best fit for you. Saily Discount Link Mentioned in the Episode: Get an exclusive 15% discount on Saily data plans! Go to saily.com/buildwealth or download the Saily app on your phone and use the code “buildwealth” at checkout. Questions Covered: Let’s start by introducing the panel. Brandon, can you start by telling us a bit about yourself, your area of expertise, roughly how much you currently invest in ETFs, and tell us about the investing style or strategy that you’ve chosen for yourself. To kick things off, I thought it would be good to start with what I consider, one of the easiest investing styles to implement and get started with, while also being extremely effective, very passive, and low cost. Brandon, as you can probably guess, I’m of course talking about asset allocation ETFs which you mentioned is your preferred investing style. For anybody new to this, can you explain what asset allocation ETFs are, and then go into why you chose this as your primary investing style, along with the ETFs that you actually buy and why. Let’s open it up to the panel: Does anybody else here buy asset allocation ETFs? Why or why not? And if you do, what specific asset allocation ETF do you buy? Adrian, you like to buy the underlying ETFs, instead of just one asset allocation ETF. For anybody new to this, can you explain what that actually means, why you choose to invest in this way, and can you share specifically which ETFs you like to buy as part of this investing style. Let’s open it up to the panel: Does anybody else invest in this way, and if so, what are your favourite ETFs, and give us some explanation on why you chose them and this style of investing. Are there any negatives that you think are worth mentioning when it comes to this investment style of buying the underlying ETFs? Marc, so far our conversation has been dominated a bit by equities (the stock portion of the portfolio), but of course, fixed income is also something that most investors find to be a good fit, especially since not everyone can stomach having a 100% equity portfolio and dealing with those occasional 30% or 40% drops and just riding those out and not panic selling. You have some focus on fixed income in your portfolio which can help reduce that volatility. Can you take us through your thought process on having these types of investments, along with which ones you like and why? Thanks Marc. Would anybody from the panel like to add anything to the fixed income discussion? Are there any fixed income ETFs that you like to buy? Adriano, let’s talk about your investing style now. Yours is a bit different from the vanilla, total market, index investing strategy that most of us on this panel use. Can you speak to why you chose your particular investing style, the pros, the cons, who is it for, and do you have any favourite ETFs or other investments that you like to use as part of it? Let’s open it up to the panel: Do you have any questions, concerns or comments?

Join Jason Heath, a seasoned Certified Financial Planner and personal finance columnist, as he dives into the crucial tax and investing changes coming in 2025. He discusses how new TFSA contribution limits of $7,000 can impact retirement strategies and sheds light on evolving capital gains tax proposals that could dramatically affect taxpayers. The conversation also covers the importance of staying informed about tax implications for trusts and the advantages of effective financial planning to maximize net worth and benefits.

If you own a home, are thinking about buying or selling a home, or have a mortgage renewal coming up, today’s episode is here to help you make the best financial decisions in this changing market. Ultimately my goal is to save you some money when it comes to all this, or at least make things less stressful for you. We’re bringing back our trusted mortgage expert and best-selling author, Sean Cooper, to first, break down the potential impact that the new US tariffs may have on our mortgage and real estate market here in Canada.  Sean also goes over the new mortgage rules that you need to be aware of if your mortgage is coming up for renewal, or if you’re getting a brand new mortgage. We also cover: What’s happening in Canada’s housing market right now? Is it a buyer’s or seller’s market? We cover the different ways that you can make changes to your mortgage if you’re finding cashflow to be a little tight.  We also give an update on the fixed vs. variable rate mortgage debate. Which is the better choice based on the current state of the mortgage market and interest rates here in Canada? Enjoy the episode. Links from the Episode: A big thanks to Sean for offering to answer questions from Build Wealth Canada listeners at no cost. You can set up a meeting to speak with Sean over at: BuildWealthCanada.ca/sean Questions Covered: Sean, can you give us an update on what’s happening in the real estate market, in Canada, right now? and can you touch on what the repercussions might be of the new tariffs between the US and Canada? Is this something that could potentially affect our Canadian mortgage rates and real estate market? Is it more of a buyer’s market or a seller’s market? What should we expect if we’re considering buying or selling our home currently, here in Canada? One interesting finding, is that more than 4 million mortgages, or about 60% of all outstanding mortgages, will renew over the next 2 years, in 2025 and 2026. What should Canadians know when their mortgage is coming up for renewal, and they are shopping around for a mortgage in 2025? Sean, before we continue with more questions, I just wanted to say that you’ve been the podcast’s resident mortgage expert for years now, helping many listeners of the show. Thank you for that! For anybody that has mortgage questions, or would like to know the best mortgages that you’ve been able to find here in Canada, can you briefly explain how it works when working with a mortgage broker like yourself, especially when it comes to payment, just so that anybody new to all this doesn’t maybe think that there are some fees they have to pay to get their questions answered or to see your research.  With all these interest rate fluctuations, I’m sure many Canadians are wondering, if there is an opportunity for savings, with their current mortgage. Can you speak to this? Cash flow is a concern for a lot of Canadians. What are some strategies for homeowners to lower their mortgage payment? Let’s talk about Fixed mortgage rates vs variable rates. Which one make the most sense right now for Canadians when choosing a mortgage, considering the current interest rates and economic environment? Can you talk about all the new mortgage rules that were introduced since our last podcast in March 2024?

Have you ever wondered how financial planners in Canada plan their own retirement once they decide to retire? Our guest today is a recurring guest that we’ve had on the show many times. He’s a fee-for-service financial planner with decades of experience in the industry, and while he’s not retired yet, he’s gotten to that age where he’s getting really close, and so it makes sense for him to do a more thorough financial plan for himself, for his own retirement. And so, I thought it would be useful for us to look under the hood, and hear his thought process when planning his own retirement as a Canadian, as surely there are nuggets of wisdom, best practices, strategies, tactics and insights that he’s applying when planning his own retirement, that we can then use ourselves, in our own finances. Enjoy the episode! Links from the Episode: A big thanks to John for offering a free 30 minutes consultation to Build Wealth Canada listeners. You can speak to John for free by going to: BuildWealthCanada.ca/john  

As the year wraps up, it’s crucial for Canadians to prioritize strategic financial planning. Discover essential tax deadlines and proactive strategies for managing investments to maximize efficiency. Explore the benefits of portfolio rebalancing and asset allocation tailored for different tax-advantaged accounts. Learn about the complexities of corporate investment and the importance of diversification beyond Canadian equities. Master these tactics to ensure a smooth financial transition into the new year.

Eric Monteiro, Senior VP of Group Retirement Services at Sun Life, shares his expertise on the challenging transition from saving to managing retirement income. He discusses the need for careful financial planning to balance security and enjoyment in retirement. Monteiro highlights various strategies, including different decumulation approaches and investment options, while advising on how to navigate risks related to overspending. Listeners gain insights into maintaining financial stability and leveraging retirement calculators for informed decisions.

On today’s episode we have another Canadian guest, Kyle Prevost, who achieved financial independence at an early age (he was able to pull it off in his 30s). He’s also done hundreds of financial talks and interviews over the years with both regular Canadians, and some of the most highly respected financial experts in both Canada and the US. In this episode, we discuss what he’s learned from these hundreds of discussions that he’s had, especially when it comes to best practices and financial tactics that we can apply to our own lives. He also shares advice on how he personally minimizes and thinks about fees in his own investment portfolio, and we also discuss his findings on CPP and OAS in Canada, which in case you’re not familiar, are the two main income sources from the government that Canadians rely on in their retirement. Kyle has done a bunch of research and interviews on how viable the CPP and OAS is long-term, and if we can continue to expect to receive them in our older age, even if we’re nowhere near that traditional retirement age of 65 yet. We cover all this and more in the interview. Also, free tickets to the Canadian Financial Summit: Kyle and I have run the Canadian Financial Summit together for years in the past, this year I’m attending it as one of the speakers, and I have free tickets for you which you can get at buildwealthcanada.ca/summit. In case you’re new to the Summit, it’s a fully online event for Canadians where you can stream all the educational talks. I’ll be speaking at it again this year, this time about RRSPs, and I’ll be there with 36 other Canadian personal finance and investing experts who will be sharing their expertise and best practices when it comes to investing, retirement, financial planning, ETFs, pensions, cash flow management once you hit your financial independence number, and much more. It’s happening really soon this month, October 23-26. I hope to see you there, and again you can get free tickets to the event by going to buildwealthcanada.ca/summit I hope to see you there! Kornel

We all spend decades accumulating and growing our net worth, along with many hours of research and studying to optimize our investments and minimize our taxes as Canadians. But what if a single incident wipes all that out? or even just a large portion of it out? Wouldn't it be completely irrational to not eliminate that risk? The best solution that I can think of for accomplishing this is insurance, so I thought it would be helpful to come up with a checklist that you can use of the different types of insurance available for us Canadians, so that you can go through it, one by one, and decide which types make sense for you, to protect your net worth. After that, we do a minor pivot to talk about dental insurance and medical insurance for us Canadians. I have been spending an obscene amount on dental care with our two kids. It's super expensive, it stresses me out, and so I wanted to learn more about what the options are for us Canadians when it comes to dental coverage, along with getting medical coverage for things that aren't covered by the government, here in Canada. Today’s Guests: To help me with this, I brought back one of our popular returning guests, Laura MacKay. Laura is the co-founder and COO of policyme.com, Canada's fastest-growing digital insurance company. In 2021, she was named one of the Women of the Year by Bay Street Bull. She has a Bachelor of Mathematics from the University of Waterloo, and her degree focused on Actuarial Science, which included learning about mortality risk, the basis of life insurance pricing and valuation. Laura is also joined by her colleague Natalie Dupley, who comes from the not-for-profit sector. Natalie is now a licensed insurance advisor that works with Laura, and specializes in life, accident, and sickness insurance. Links from the Episode About Laura's Company: PolicyMe.com Educational Guides from the Episode: Types of Dental Insurance Plans in Canada The Canadian Guide to Health Insurance Plans What is Life Insurance: Meaning & Comprehensive Guide Questions Covered: To kick things off, can you take us through what insurance us Canadians typically need, so that we don’t miss out on any critical coverage that we should have? One type of coverage that I think isn’t always thought about for us Canadians is health and dental insurance, particularly since we’re used to having most of our medical expenses covered by the government. Can you take us through some common misconceptions about health and dental insurance, as well as who it would be most useful for? When I think of cases where I need insurance, it’s typically for very sudden and time sensitive events like a car crash, or dental procedure that I need done as soon as possible. But what about having insurance for things that are less sudden like therapy and mental health, or things like braces or corrective eye procedures like LASIK surgery? How does having private insurance work in those cases? When it comes to this type of insurance, how do we determine if it’s more financially sensible to pay-out-of-pocket for these healthcare costs vs purchasing a Health & Dental Insurance plan? Before we continue with more educational questions, I wanted to give you a chance to speak about PolicyMe, what you do, and I realise that you also specialise in health and dental insurance so perhaps you could speak about that? What are the key components to look for when evaluating this type of insurance? When it comes to health and dental insurance plans, is this something that also covers you when travelling? Or would that be separate? Of all the things covered under a Health & Dental plan, what areas of coverage do most Canadians prioritise or care about? and what are some areas of coverage that you think are underutilised (or that Canadians can stand to benefit from more)? What are some of the most common questions that Canadians ask when it comes to health and dental insurance? Can you tell us more about PolicyMe, how you differentiate yourselves, and what you offer?