Perspectives

Divya Goyal from Scotiabank discusses the impact of generative AI in Canada. Topics include AI adoption in businesses, sectors ripe for disruption, job implications, Canada's role in AI development, and future AI trends like reinforcement learning.

Scotiabank Senior Economist Farah Omran is back this episode to give us her take on the state of the Canadian housing market. She'll break down the latest numbers, explain the high stakes and “suspense” she’s seeing, tell us what might play out in the next six months and much more.  Key moments this episode: 1:10 – Farah catches us up on the market since her last podcast appearance in the fall 2:41 – What Farah means when she says “stakes are high”  3:42 – The mystery behind why we’re seeing a relatively slow spring real estate season 5:38 – Are there any markets that are especially hot in Canada? 6:45 – Are people waiting for rate cuts before entering the market? 8:12 – How the housing market impacts the interest rate outlook and vice-versa  10:02 – An update on housing shortages and what governments (including the recent federal budget) are doing 15:18 – Digging into the psychology around the housing market 17:03 – Farah breaks out her non-existent crystal ball: what might the next six months look like?

Craig Maddock, VP of Scotia Global Asset Management, explains key investing concepts in plain language. Topics include GICs, stocks, bonds, ETFs, and mutual funds. He discusses common misconceptions, the importance of time horizon, and questions to ask before seeing an advisor. Maddock also offers advice for beginners starting their investing journey.

Talking about money with loved ones can be difficult. So in order to make those tricky conversations a little easier, a new project has broken down how we relate to money into six different Money Styles. Think love languages, but for finances. Tanya Eisener, the Senior Vice President of Retail Customer Value at Scotiabank, and Adam Palanica, the Senior Manager of Global HR insights and People Analytics at Scotiabank, are our guests this episode. They tell us how this tool works, why it’s needed and how you can use it to get a better handle on the emotions around money. To take the quiz and find your Money Style, check out the Money Style by Scotia Advice+ page.  Key moments this episode:  1:47 — So what is a Money Style?   2:14 — How did behavioural science inform the creation of Money Style? 2:53 — Why is money so difficult to talk about? 4:29 — Getting to the root of the feelings around money 5:13 — How does the Money Style quiz help make money conversations easier? 6:23 — Why taking the stress out of financial conversations is especially important now 7:17 — Some fascinating numbers around money and relationships 7:46 — Breaking down the six Money Styles 10:11 — How to interpret the quiz results 11:24 — What to do once you’ve figured out your Money Style 12:07 — How long does the quiz take? 12:37 — One final behavioural science tip to help your relationship with money 12:46 — Tanya’s takeaways around what she’s learned about our sometimes thorny relationship with money 

Getting into the housing market these days can be daunting. So, this episode we’re answering all the questions you may have had about mortgages and real estate but were too afraid to ask. Our guest is Tracy Gomes, Senior Vice President of Real Estate Secured Lending at Scotiabank. Tracy will define some key terms, give us a primer on how to pick between a fixed and variable interest rate mortgage, how much you might expect to pay for a down payment and more.  Key moments this episode: 1:32 — What’s the big question or concern that Tracy hears the most from people looking to get into the market? 2:30 — What’s the first thing someone should be thinking about if they’re looking to buy a home for the first time? 4:12 — What do you need to qualify for a mortgage? 4:33 — The 4 Cs lenders are always looking at when processing a mortgage application 5:27 — What is the minimum down payment needed in Canada? 6:07 — Does the size of a down payment have an impact on the interest rate of a mortgage? 6:36 — Breaking down the different types of insurance when it comes to mortgages 8:34 — The role of ‘the bank of mom and dad’  9:18 — Is it possible to buy a home without a down payment? 9:25 — Options available for first-time buyers to save for a down payment 10:07 — What is a stress test? 11:35 — What other costs are associated with buying a house? 13:07 — How do real estate agents get paid? 13:46 — If you’re already in the market, should you sell before you buy or buy before you sell?  15:20 — Mortgages 101 17:10 — The most common mortgage question: what is the difference between fixed and variable rate mortgages? 19:45 — Some quick mortgage definitions: term and amortization 21:39 — How Scotiabank’s adjustable-rate mortgage works 22:37 — Recap of variable vs fixed rate 25:03 — Some tips on paying off a mortgage faster 27:40 — What’s the final thing Tracy thinks people should know about buying a home

The Liberal government has laid out its 2024 Federal Budget, with new spending focused on issues such as housing, defence, and childcare, with new tax measures to help offset the cost.  Rebekah Young, Scotiabank Economist and Head of Inclusion and Resilience Economics, joins us to break down the key takeaways Canadians need to know about the federal government’s spending plan, what is missing from the budget, and the impact it is likely to have on the broader economy and inflation. Read Rebekah’s full report: Canada’s 2024 Federal Budget.  Key moments this episode: 1:21 — A look at overall spending and key items 3:19 — Key buckets of spending important for Canadians 5:41 — Tax measures and other ways the federal government plans to pay for this new spending 8:23 — A primer on capital gains 10:24 — What impact these tax measures will have on productivity 11:56 — What's the economic impact of this budget, near term and long term? What does it mean for housing and inflation in Canada? 15:37 — The main thing Rebekah is taking away

Scotiabank's Chief Economist Jean-François Perrault discusses the Bank of Canada's recent decision to maintain interest rates, predictions for a possible rate cut in September, the impact of housing market on inflation, geopolitical risks, U.S. inflation numbers, low productivity risks, and the influence of the weak loonie. The podcast analyzes economic factors influencing rate decisions and government spending impact on the economy.

In this episode, co-founder and CEO of Willful Erin Bury joins us to give us a Wills 101 lesson. She’ll cover everything from what exactly a will is to when you should get one, some key definitions and much more.An earlier version of this episode said 57% of Canadians don't have a will, and that rises to 75% for younger Canadians. In fact, the poll showed that 43% of Canadians don't have a will, rising to 66% for younger people.Key moments this episode: 1:16 — Before we start, we have to ask Erin: what was it like being on Dragon’s Den? 2:50 — What is a will? 3:56 — The most common misconception about wills 5:46 — The personal experience that triggered Erin and her husband to start Willful 8:14 — Why the will is the ‘tip of the iceberg’ when it comes to estate planning 9:03 — When should people start thinking about getting a will? 10:43 — What is an estate? 11:57 — A little more about what inspired Willful 13:22 — What makes a will a legal will? 14:48 — What situations are out of the scope of Willful? 16:51 — What is a power of attorney? 19:06 — What is an executor? And what should you be thinking about when you choose one 22:01 — Why Willful is partnering up with Scotiabank 24:50 — The unexpected brand Erin has cultivated within her circle of friends 

Loud budgeting is just one of many money trends you may have seen in your social media feed lately. This episode we get a level-headed take on some of these fads with the help of Kingsley Chak, Senior Vice President of Deposits, Savings and Investments at Scotiabank. He’ll let us know which ones might work, which ones might not and why, as well as give some evergreen tips on getting a handle on your own finances.    Key moments this episode: 1:21 — How are Canadians feeling about their money right now? Discussing the results from Scotiabank’s Worry Poll 5:45 — Budgeting trend 1: loud budgeting 6:54 — How does bungee jumping help explain loud budgeting? 8:15 — Is loud budgeting a good thing? 8:49 — What is quiet luxury and how does it relate to loud budgeting? 9:50 — Budgeting trend 2: soft saving 11:38 — Budgeting trend 3: FIRE — financial independence, retire early 15:07 — Two tips to take away from the conversation 

Learn about the impact of increasing life expectancy on retirement savings and financial planning, challenges of saving money, the importance of a financial plan, and the potential changes in traditional retirement strategies due to longevity. Gain insights on asset allocation, risk management, and navigating retirement finances in volatile markets.