Stress Test

Shannon Lee Simmons, a certified financial planner and author, highlights the normalization of sports betting among youth and how it influences their investing habits. Behavioral researchers Perry Wright and Hans Frech explore the parallels between gambling and speculative investing, dissecting the factors like excitement and social comparisons that drive risky behaviors. They discuss app design elements that encourage frequent trading and suggest guardrails like pre-set limits to protect users' finances. This fascinating conversation sheds light on the blurred lines between gambling and investing.

Nicole Biros-Bolton, a human rights and employment lawyer at Bird Bold Law, shares essential insights for those facing job loss. She discusses the stark difference between layoffs and terminations, the importance of not hastily signing severance agreements, and common pitfalls to avoid after being fired. Nicole explains how severance calculations work, advising listeners to scrutinize their offers and consider legal consultation. With expert tips on applying for Employment Insurance, her advice is a must-listen for anyone finding themselves unexpectedly unemployed.

Victor Tran, a Toronto-based licensed mortgage agent, shares insights on navigating today's challenging mortgage landscape. With rising interest rates, he discusses strategies for renewing mortgages and the importance of comparing lenders to avoid shocking payment increases. He emphasizes the trend of first-time buyers opting for fixed rates to maintain budget stability. Additionally, Tran advises homeowners to start shopping well ahead of their renewal dates and warns against the pitfalls of procrastination in this crucial financial decision.

In this insightful discussion, Matt Lundy, Economics editor at The Globe and Mail, delves into the harsh realities of the job market for young Canadians, revealing youth unemployment nearing 15%. He highlights how economic uncertainty and rising AI influence hiring practices, pushing applicants to send dozens of resumes with minimal replies. Lundy warns of the long-term scarring effects of graduating in economic downturns, while offering practical advice on patience and skill-building to enhance job prospects.

Blake Corey, a certified financial planner and president of Venn Wealth Partners, explores the intriguing world of 'boring businesses.' He discusses why young entrepreneurs are drawn to essential services like laundromats and vending machines, emphasizing the flexibility and lifestyle control they offer. Blake shares insights on financing challenges in Canada, potential pitfalls for new buyers, and the importance of understanding hidden costs. He also highlights the appeal and resilience of these businesses and warns about local risks that could impact revenues.

Join Ben Felix, a savvy portfolio manager and head of research at PWL Capital, as he dives into the world of AI in investing. He discusses the promising yet precarious role of AI in selecting ETFs and its tendency to provide misleading advice. Ben emphasizes the importance of verifying AI-generated information and the limitations of AI in emotional financial decisions. He highlights that while AI is a valuable tool, it should complement, not replace, human advisors, especially during market downturns.

You might be familiar with this home ownership journey: save for a down payment, buy a condo, live in it for a few years, sell it at a profit, then use that money to buy a bigger home with multiple bedrooms and a backyard. It was the standard home-owning playbook for older millennials. But with high interest rates and an oversaturated condo market, that formula has unravelled. In this episode, we’ll hear from a Calgary-based Gen Z who said buying a condo in 2022 was the worst financial decision of her life. Then, Roma speaks with John Pasalis, president and broker at Realosophy Realty, about just how bad the condo market is and what Gen Z and millennials should consider as they navigate the changing landscape.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Globe’s personal finance podcast for Gen Z and millennials is back for another season. Join host Roma Luciw, recently retired Rob Carrick and The Globe’s roster of personal finance reporters as they dig into the financial questions impacting Canadians. Up this season:  timely topics like AI investing, the condo crisis, and why young Canadians are buying boring businesses. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

It’s been five years since the pandemic lockdowns began. As they dragged on, people working in cramped condos began craving more space – and began relocating to smaller cities, towns or rural areas, where housing was cheaper. So how did it work out for them? In this episode, we check in with guests from previous seasons to discuss their moves, whether it was good for their financial situation and if they’d ever think about moving back. We reconnect with a former pro hockey player who we met in Season 3. He relocated from Toronto to St. John, New Brunswick in the first year of the pandemic. We also hear from a B.C. woman who we spoke with in Season 9. She left her life in Vancouver for the coast of Spain. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

We've all seen the ads: Hip investors in their 20s, happy homeowners in their 30s, and content retirees at 65. There's a lot of pressure to reach certain financial milestones by a certain age. But these deadlines aren’t working for everyone. It’s never been harder - or more unrealistic - to hit these milestones at the same age as previous generations. In this episode, Roma speaks with Sam Lichtman, founder of Millen Wealth Advisors, about why we need to adjust our expectations and rethink the personal finance timeline. We also speak with a B.C. man who just bought his first home in his mid-40s. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.