The Canadian Money Roadmap

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.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 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. Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 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.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 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.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 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 considerWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

Can a single fund be the answer to your investment goals? Achieving success and maintaining diversification might seem impossible with just one fund, but I'm here to break down the pros and cons of this simplified investment strategy. Join me as we explore various types of single fund solutions, either as ETFs or mutual funds, and how they create a balanced and diversified portfolio through target allocations.We compare Fidelity and Vanguard, two industry giants offering different single fund investment options, and take a deep dive into the costs and returns associated with their offerings. Additionally, we touch on factor-based strategies from Dimensional and how they can potentially lead to outperformance over a longer period of time. Throughout the episode, we discuss the advantages and disadvantages of single fund solutions, showing you how investing doesn't have to be complicated to be successful.Remember, before making any changes to your financial plan, it's important to consult with financial, legal, and tax advisors. So, tune in to discover if a single fund could be the key to simplifying your financial life while still achieving investment success. Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

This episode is dedicated to helping you find the perfect professional for your situation. We dive into the world of financial planning designations, such as Certified Financial Planner (CFP), Qualified Associate Financial Planner (QAFP), and Chartered Investment Manager (CIM), to help you identify which credentials to look for in a potential advisor.Navigating the complexities of financial planning fees and location preferences can be overwhelming, so we break down the differences between fee models to help you make a more informed decision. Plus, we share valuable questions to ask prospective advisors, ensuring you find a specialist who aligns with your goals and values. Whether you're looking for a planner with expertise in a specific area or simply seeking unbiased advice, this episode will guide you toward finding the right financial planner for you and your situation. Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

Join me in an episode that dives into the impact of wildfires on oil production and donation tax credits while shedding light on the recent increase in interest rates and the potential for millennials to build wealth in Canada. Discover how the silver lining of rising interest rates can benefit savers through high interest savings accounts, GICs, and money market funds. Unearth the differences in housing costs, average incomes, and other financial factors when deciding to move from major Canadian cities like Toronto and Vancouver to other parts of the country. We'll also touch on venture capital funding for crypto-related companies and how they've moved on to other ideas.Finally, don't miss our introduction to the Find Your Focus Scorecard – a tool designed to help you pinpoint areas of focus for your financial life and provide personalized tips to improve your financial situation. Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

Are you ready to take control of your financial life and make improvements where it counts? This week, I'm taking a short break as my family and I move into our new home. While I'm away, I've created a special "Find Your Focus Scorecard" tool just for you. By clicking on the link in the show notes and answering a series of questions, you'll receive a personalized score in five categories: savings habits, debt management, retirement planning, cash management, and investment knowledge.After completing the scorecard, you'll get a PDF report emailed to you, detailing your scores and offering three practical tips to improve your weakest area. No one has scored 100% yet, which means there's always room for growth. Give it a try, and let me know what you think. Enjoy the rest of your summer, and I'll be back next week with a brand new episode.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

Do you ever find yourself swept up in emotions when it comes to your investments? What if you could learn to manage expectations and make more informed decisions based on data? Join us in this eye-opening episode where we explore the art of expectation management in investing and life in general. We even take a look at the world of baseball to see how expectations can be used for predictions on the outcome of a game or specific play.We dive into various investment analysis strategies, such as technical analysis, macroeconomic analysis, analyst estimates, and company-specific factors, to help you better understand the market and determine the value of your investments. Lastly, we examine the earnings yield and its inverse relationship with the P/E ratio, using ExxonMobil and Apple as case studies. We discuss the cautionary tale of Nvidia and the low expectation of returns when overpaying for stock. Plus, we touch on FP Canada's more complex portfolio guidelines that provide an expectation of returns for a globally diversified stock portfolio for the year 2023. Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet