It's Personal Finance Canada

This week we go over the recent struggles with American banks and look into what is keeping major Canadian banks from suffering the same fate. Everything from CDIC, Assuris, OFSI and the Basel accords are talked about as we discover what would happen if a Canadian bank collapsed. Continuity Note: A day after recording this episode TD Bank broke its agreement to purchase First Horizon Bank in the US. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Globe & Mail report on unrealized losses in Canadian banks: https://www.theglobeandmail.com/business/article-canadian-banks-carrying-potential-losses-on-bonds/ OFSI’s comments about the Silicon Valley failure: https://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/nr20230315.aspx?utm_campaign=osfi-bsif-carousel&utm_medium=carousel&utm_source=osfi-bsif&utm_content=carousel-header-en The Basel III Framework: https://www.bis.org/basel_framework/index.htm?m=3_14_697

Earth! Fire! Wind! Water! Heart! By your powers combined I am Captain Dividend Yield! This week we tackle the increasingly popular ESG investment mandate, issues of environment, society and corporate governance are becoming more important for investors. However, not everything labels as ESG right now would please Captain Planet, or even the average investor looking to support true change for the better. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: United Nation’s “Principles for Responsible Investment” https://www.unpri.org/about-us/what-are-the-principles-for-responsible-investment UN Blueprint for Responsible Investing: https://www.unpri.org/download?ac=5330 Price Waterhouse Canada Report - "How Canadian companies can prepare for TCFD reporting requirements": https://www.pwc.com/ca/en/today-s-issues/environmental-social-and-governance/net-zero/tcfd-reporting-requirements.html

I reject your financial reality and substitute my own! This week we bust the classic personal finance myth of saving 10% to fund your retirement. What was once a staple of personal finance is no longer enough, but there is a better way which can help you right now. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: The Mercer Report (not the funny one): https://www.mercer.ca/en/newsroom/mercer-retirement-readiness-barometer-2023.html

This week Christine goes toe to toe with Dave Ramsey’s personal finance philosophy and his core 7 baby steps concept. How much of it is helpful to Canadians? What will and won’t work in Canada? And how can these concepts help the average person north of the border in their journey to wealth and debt freedom. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

Talk of a recession keeps on looming over Canadians but is this threat more of a big bad wolf, or more of a Peter and the wolf type of narrative. This week we talk about what’s going on in the markets and how things are shaping up for Q2 across various sectors and how those changes can impact your investments. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Canada March 2023 jobs report: https://www150.statcan.gc.ca/n1/daily-quotidien/230406/dq230406a-eng.htm Canadian PMI report: https://tradingeconomics.com/canada/manufacturing-pmi

This week we talk about spendapalooza 2023, aka Canada’s 2023 federal budget, everything from grocery “rebates,” green infrastructure to taxing the rich. We read the budget so you don’t have to in order to figure out how it will impact your day to day finances. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Canada Budget 2023: https://www.budget.canada.ca/2023/home-accueil-en.html Budget Impact Reports: https://www.budget.canada.ca/2023/report-rapport/gdql-egdqv-02-en.html#m2

This week we talk about one of the lesser known benefits of having a Canadian corporation, the Capital Dividend Account. This little known method of transferring tax free money from your corporation to yourself personally could change how you look at the concept of owning a business, well as long as you play by the CRA’s rules of course. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

This week we talk about the book "Millionaire Success Habits" by Dean Graziosi, but get side tracked and talk about cheeseburgers, philosophy and wolves! Seriously though this week we talk about taking stock of your goals and desires and how they continue to shape your life and may be holding you back personally and financially as well. But that could change if you only asked the question “why” to many parts of your life. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

This week we answer another fan question and talk about what to do when your income goes up significantly. Find out how to find new was to defer or deduct expenses, find new opportunities for even more income and how to protect everything you’ve worked towards. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

Hey Margaret from the Facebook page… this one’s for you! This week we tackle the age-old question about mortgage pre-payments but with a twist. How does your strategy change between being a homeowner versus being a landlord, is it better to be debt-free or tax advantageous? If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: CRA rate of return calculator: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/completing-form-t776-statement-real-estate-rentals/rental-expenses-you-deduct.html CRA Capital expenses examples: https://www.canada.ca/en/revenue-agency/services/tax/businesses/definitions-letter-a-business.html#Cptl_xpns