The Canadian Money Roadmap

Have you ever felt uneasy about investing when the market is nearing all time highs? What if a crash happens or it declines right away?In this episode we look to history to help inform what investors should do in this potentially tricky situation.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

I don't like goals... I like processes and systems and rituals that will eventually lead to accomplishing goals. I just call them, Areas of Focus.  In this episode, I will go through my personal areas of focus for my financial life this year.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

In this episode, I explore the Canada Child Benefit (CCB), a tax-free financial support for families. l lead off discussing  who qualifies and how much you can receive before going over how household income affects your CCB.  Finally, I'll provide some strategies to  increase your payments, including the impact of RRSP contributions.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Finishing off the year with a few of my top episodes of 2023!Thanks to all of you for being loyal listeners of the podcast. See you with some new episodes in 2024Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Finishing off the year with a few of my top episodes of 2023!Thanks to all of you for being loyal listeners of the podcast. See you with some new episodes in 2024Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Dealing with money topics with a partner can be stressful and particularly stressful for the person who is not the "money person" in the relationship.In this episode, I help outline a way that you can very simply explain your entire money life to your partner without getting into the weeds of technicalities.The high level details of your financial life can fit on a single page under the following categories:1. What do you have?2. What do you owe?3. Where are you going?4. What if...?Do more if you want! But start here to end the year on a note of transparency, clarity and openness.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

You might not want to hear it... but here are 7 inconvenient truths about investing: Low fees won't solve all your financial problemsAny long term investment worth owning will go down at some pointIf you're properly diversified, some part of your portfolio will always be underperformingSomeone you know will always have a better performing portfolio than youIf you're reacting to the news with your portfolio, you're already too late.  And you can't know in advance what the impact of that news will be (even if you're right about predicting the bad news).Making money in the stock market takes a lot of timePast performance is not indicative of future results (including the S&P 500!)Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

In this episode, I'll discuss the new TFSA contribution limit for 2024 and why it might be a good idea to withdraw funds now if you're planning to use them early next year. We'll also look at the First Home Savings Account (FHSA), and the importance of opening this account in the year you wish to use the contribution room. We'll additionally explore the RSP contribution room for 2024, pegged at $31,560, and why your earned income is the only income that counts towards this room. I'll also go over the process of tax-loss harvesting, and the year-end distributions for mutual funds and ETFs in non-registered accounts.  We'll also talk about how making charitable donations can work in your favour and a reminder to exhaust your workplace benefits before the year concludes. Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Are you well-armed against the 20 most common investing pitfalls? In this week's episode, I dive into the critical importance of setting reasonable expectations for returns, having clear investment goals, ensuring portfolio diversification, and avoiding the pitfalls of falling into short-term focus. We also shed light on the dangers of excessive trading, the influencing power of media hype, and how unchecked emotions of fear and greed can lead to poor financial decisions.The episode doesn't just stop at identifying these mistakes; it offers valuable guidance on how to steer clear of them. Learn about the often-overlooked aspects of financial planning, including controlling asset allocation, managing fees, and understanding the impact of inflation on investments. I also emphasize the merits of long-term planning and informed decision-making.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Have you ever struggled with finding the perfect gift for that person in your life who seems to have everything? This week, fellow financial planner Jordan Arndt joins me to propose a unique and meaningful solution: charitable gifts. Our conversation takes us through the concept of Giving Tuesday, showcasing the importance of giving back during the holiday season and the key role it plays in our communities. But the benefits of charitable giving extend into the financial world as well.  We break down how making donations to registered charities can have a significant impact on your tax bill. We talk about everything from non-refundable and refundable credits, different brackets for tax credits based on donation amounts, and the exciting concept of matching campaigns. We underscore the importance of researching before donating and highlight the various tax credits available, including the ability to transfer them to a spouse or carrying them forward for five years. So tune in and let's explore the power of generosity and its potential perks this holiday season!Follow Jordan on Twitter/XSign up for Jordan's newsletterRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet