The Canadian Money Roadmap

It is so easy to spend countless hours learning about something without taking any action on it and financial topics are no exception.  But the best way to learn something is to put down the books, podcasts and social media and just try it for yourself.  So in this episode, I provide ideas for things that you can do TODAY to improve your financial situation.  Not earth shattering, ground breaking things with lots of complexity but simple, approachable and practical steps you can take now and expand on in the future.If you're a complete beginner or further along in your investing journey there's something for you here.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 receive lots of emails from listeners asking questions but I rarely receive emails from 17 year olds trying to get a jump on their investing knowledge before turning 18! This episode goes over some of the amazing questions I received from a person completely new to investing and I hope it is valuable to anyone else getting started on their investing journey. 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 lay out a simple 3 account strategy for managing your cash.  It doesn't get much simpler than this! This approach will make sure you have cash set aside for monthly expenses, future expenses and emergencies.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Ever wondered how the cryptic language of finance can be decoded, specifically for Canadians? Looking to navigate the maze of tax-related terms and financial jargon? This episode will aid you in your quest.   It's time to make finance less intimidating and more accessible. Join us as we break down the financial language barrier.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 received a few questions after my last TFSA episode so I thought I would answer them for you here:1. How do you invest in stocks in a TFSA?2. What are the factors to consider between TFSA and RRSP for high income earners?3. What happens to your TFSA after you die?4. Can you get your TFSA contribution room back if you make a withdrawal?Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Better late than never! This episode goes through the first half of the year (ish) and how different stock markets around the world have performed.  Next I explain why a viral TikTok video is completely wrong about income taxes.And finally, why Beyoncé could be a culprit for causing inflation in Sweden.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Ever wondered how two seemingly identical investments can lead to dramatically different outcomes? Ready to decode the mysteries of investment returns? Buckle up as we embark on an enlightening journey. We'll dissect three hypothetical ten-year scenarios that, on the surface, appear to have identical returns, but when examined closely, reveal radically divergent investment narratives. Gain a firm grasp on the role that rate of return and standard deviation play in investment analysis. We'll expose the critical impact that volatility has on your path to investment returns. You'll also gain insights into personalized investment returns, shedding light on money-weighted returns, an essential measure of average return per dollar invested. We’ll dissect the differences between time-weighted returns, and examine the profound implications of the sequence of returns on your portfolio. We'll present two unique 10-year scenarios with identical average returns, but contrasting end results, to visualize these concepts.Lastly, we'll delve into the stock market's rollercoaster ride through the gripping saga of Carvana, a company that's seen dramatic peaks and valleys since it went public. Get set to understand the importance of context of when and why you invested. Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Imagine if you could transform a small monthly investment of $500 into a million-dollar nest egg for your retirement. Sounds unbelievable, right? Yet, that's exactly what we're exploring in this episode, where we delve into the world of Tax-Free Savings Account (TFSA) investing and the incredible potential it holds. We discuss why the million-dollar mark is not just a psychological goal, but one that potentially offers substantial retirement income, significant tax savings, and the ability to pass on wealth to future generations—tax-free.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

On this episode I discuss all things Net Worth.  What is your net worth? How do you calculate it? What are some things you can learn from your net worth?It's not just for celebrities or old men.  Your net worth will help you guide where you can focus your efforts to improve your finances today and long into the future.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Here's the latest Reddit Roundup for July where I cover off popular topics found on Reddit throughout the month.  This month's topics include:Understanding why your retirement funds might not be keeping up with "the market"Debunking credit card mythsComparing yourself to others in better financial shapeShould you take the monthly payment or cash upfront with a lottery win? A few factors to considerRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet