Build Wealth Canada Podcast

In this episode, I've pulled together the newest numbers of what you can expect from your investments. These are based on historical returns using several different highly reputable sources that I personally use and trust. In other words, this isn't some subjective opinion of what one person thinks you'll get on your investments. Instead, it's actual data, studies, and reports that reputable sources in the industry have put together, and is what I personally use. I've also created a summary where you can see the ranges of possible investment returns based on the different sources (which use different times frames and assumptions). You can get all that by going to the episode's show notes over at www.BuildWealthCanada.ca/29 Links and Resources The summary, graphs, and text version of this is available in the episode's page at www.BuildWealthCanada.ca/29 Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

Sandy Martin, a fee-for-service financial planner and former banker, dives into the intricacies of tax-efficient withdrawals from RRSPs and TFSAs during retirement. She stresses the importance of customized planning tailored to individual financial situations. Topics include managing tax brackets with RRSP withdrawals, the impact of continuing to work during retirement, and strategies to mitigate sequence of returns risk. Sandy also explains the differences among pension plans and how to set realistic return expectations, helping listeners navigate their retirement savings effectively.

Today I wanted to cover the subject of debt consolidation. What is it? Should you do it? and if so, then what are the options available to you? Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Questions Covered What does it mean to consolidate your credit, and in what circumstances should somebody consider doing this? A common argument against credit consolidation services is that they don't solve the underlying issue. In other words, somebody might consolidate their debt which frees up space on their credit cards or line of credit, and then they just end up taking on more debt since they haven't changed their lifestyle and habits to live a debt free life. How can someone prevent this from happening to them? Since you deal with a lot of individuals that have gotten into significant debt and are struggling to get out, what are the most common mistakes that you see people make that get them in this situation in the first place? What are you thoughts on the use of emergency funds? Some experts suggest keeping it in cash, while others suggest having a line of credit for emergencies and using any available cash to pay off the debt. Where do you stand on this debate? After paying off any high interest debt, what are your recommendations on paying off student loans and the mortgage vs investing the money for retirement? For somebody that wants to see if consolidating their credit is right for them, what is the process that they get taken through with you from beginning to end?

Questions Covered For those Canadians new to this type of investing style, can you explain what dividend investing is? When should someone consider doing dividend investing? (i.e. Is there a particular life stage when it's most appropriate?) Is there a type of person that is most suited for this type of investing? (ex. time commitment, personality, etc.) What are the pros and cons of this investing style vs something like index investing, mutual fund investing, or stock picking for growth? The idea of investing to "live off the dividends" sounds very tempting to Canadians. How realistic is this? What is actually needed to pull this off? What are some of the top mistakes Canadians make when investing in Dividends? (ex. Chasing yield) At 5i one of the things I noticed you do, is that you have sections of the site dedicated specifically for dividend investors, and I noticed that in there you recommend primarily Canadian companies. Can you explain why that is? (i.e. preferential tax treatment, anything else?) Peter said (in a previous interview) that at 5i you like companies that have a growing dividend. If somebody is researching a company themselves, how can they check if a company is growing its dividend? What are some good resources for somebody that is considering, or wants to learn how to do dividend investing? I know you guys offer a lot of help on this to 5i subscribers so feel free to talk about some of the resources that you have available for investors too. Links and Resources You can get a free 1 month trial of 5i Research by going to www.BuildWealthCanada.ca/trial. As a "thank you" for trying it out and checking out their research, you'll also receive a free 1 year subscription to Canadian MoneySaver Magazine (Canada's largest personal finance and investing magazine). Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

In this episode, I cover several mistakes and misconceptions that held me back from maximizing the growth of my investment portfolio. By sharing my mistakes and what held me back, I hope that it will help you avoid these same mistakes. Fortunately, things still ended up great, although not perfect, and definitely not the most efficient in terms of net worth growth. These are the lessons about the money left on the table, and what I would tell my younger self. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

This episode covers how to protect yourself from overpaying in hidden investment fees, and how to ensure that you are getting unbiased advice from your financial professionals. Did you know that there is a lot of conflict-of-interest that exists with many of the financial advisors here in Canada. We also have one of the highest investment fees in the world. While there are ways to bypass these fees, you need to know what to look for so that you can spot if your advisor is recommending a poor investment that is primarily designed to maximize their firm's profits, instead of growing your net worth. Join me as we cover some of the most dangerous traps that exist for us Canadians in the investing and financial services industry. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

Miranda Marquit, a top freelance writer, shares tips on freelancing and blogging. She emphasizes the importance of having a website for branding. The podcast also covers setting freelance rates, building expertise, and navigating self-promotion challenges. Miranda offers a reality check and free guides for aspiring freelancers and bloggers.

Dragon's Den winner Lee Renshaw shares tips on starting a side business in Canada. Topics include creating innovative products, navigating business competitions, managing post-show success, overcoming manufacturing challenges, and tips for starting a side business successfully.

Author Valerie Rind discusses how to avoid financial issues with friends and family, stressing the importance of legal documents, tough decisions, and open communication. She shares real-life stories and tips for navigating tough financial conversations, including discussing finances before marriage.

In this discussion, Peter Hodson, an investment manager and owner of 5i Research, shares insights from his extensive experience managing over $1 billion in assets. He recommends using a TFSA for its tax-free growth before considering an RRSP. Peter argues for the benefits of dividend investing, particularly focusing on dividend growers for long-term success. He also discusses strategic uses of non-registered accounts and offers tips for new investors. Lastly, he addresses asset allocation, emphasizing quality stocks and the role of bonds in stability.