The Wealthy Barber Podcast

Chris Guillebeau, author and entrepreneur behind The $100 Startup and Side Hustle, shares bite-sized lessons on turning hobbies and skills into income. He champions reselling and farmers’ markets as low-risk tests. Action beats overplanning, and he discusses when to quit, enjoying work over scaling, and neurodiversity including ADHD and Time Anxiety.

Heather and Doug Boneparth are financial experts and co-authors of "Money Together." They discuss navigating finances as a couple, revealing how shifts in income and roles affect power dynamics. Heather emphasizes recognizing caregiving as economic contribution. They share their 'money date' practice for creating regular financial habits and the importance of starting conversations with positive wins. Embracing discomfort and curiosity, they highlight strategies for building stronger partnerships and teaching children about money values.

Shannon Lee Simmons, a Certified Financial Planner® and founder of the New School of Finance, delves into financial planning for everyday Canadians. She discusses her innovative work in fee-only financial planning and the unique Barter Babes project. Shannon explores the importance of actionable financial advice and modular planning, offering insight into budgeting and cashflow management. She also addresses rising housing costs, the concept of financial dysmorphia influenced by social media, and the role of parents in financially supporting adult children.

In this engaging discussion, Melissa Leong, a national media personality and author of "Happy Go Money," explores the link between money and happiness. She shares brain hacks for better spending decisions, like the 24-hour rule and the use of spending summaries. Melissa emphasizes that experiences trump material goods for lasting joy and highlights the importance of anticipating joyful moments. The conversation also addresses financial challenges women face and offers practical steps for healthier money management without guilt.

Shaun Maslyk, a Certified Financial Planner® and expert in financial behavior, dives into the complex interplay between money and happiness. He discusses how happier individuals tend to make better financial decisions and the concept of hedonic adaptation, explaining why wealth doesn't always equate to joy. Shaun highlights the 'arrival fallacy' and the importance of understanding one's money stories. He advocates for prioritizing peace of mind over optimization and warns against chasing prestige, encouraging listeners to clarify their true financial goals.

Aravind Sithamparapillai, a CFP® gold medalist from Ironwood Wealth Management, shares his expertise in financial planning. He discusses the 'financial quarterback' model, emphasizing the importance of coordinating various advisors. Aravind reveals his four-step investing process and how biology impacts investor behavior. Listeners learn about common estate planning pitfalls and why RRSPs might be beneficial for estates. The podcast also compares TFSAs and RRSPs, highlighting factors that influence which is preferable for retirement savings.

Our guest this episode is Daniel Foch, a Canadian real estate broker, co-host of “The Canadian Real Estate Investor” podcast and Chief Real Estate Officer at Valery.ca. Daniel creates widely-followed content at the intersection of data, news and insights for the Canadian housing market. In this conversation, Dave and Daniel tackle the big questions facing the real estate market today. They discuss the Ontario government’s move to take over RECO, whether realtors should be able to represent both sides of a deal, and the evolving role of municipalities, development charges and zoning in housing affordability. Daniel shares his perspective on where the market goes from here, why most Canadians still want a detached home and what it will take to make those homes more affordable. The conversation ranges far beyond prices, touching on the challenges of an aging population, mortgage stress tests and why older generations are staying “overhoused.” There’s also a fascinating discussion about the impact of AI, First Nations’ land claims and the rise in Powers of Sale. If you’re interested in the state of Canadian real estate — from policy to affordability to where things might be headed — this episode is full of insights you won’t want to miss.   Show Notes (00:00) Intro & Disclaimer (00:55) Intro to Daniel Foch (05:06) Ontario Government Taking Over RECO (07:57) Should Realtors Be Able to Represent Both Sides of a Deal? (10:36) Housing Affordability and the Role of Government (16:30) Should Municipalities Lower Their Development Charges? (18:00) Where Does the Real Estate Market Go From Here? (20:56) Most Canadians Still Want a Detached Home (23:15) Owning vs. Renting (26:25) How Do We Make Detached Homes More Affordable? (28:40) Older Generations Are Overhoused But Not Downsizing (34:07) Mortgage Stress Tests (38:42) Daniel Thinks Municipal Governments Could Go Away (40:13) The Potential Impact of AI on Societies (41:54) First Nations’ Land Claims in Canada   (44:31) Bill 60 (46:47) Valery AI (50:15) Increasing Powers of Sale (54:57) Conclusion

Morgan Housel, a behavioral finance writer and bestselling author, delves into profound insights about money in this engaging conversation. He shares how writing 'The Psychology of Money' reshaped his perspective, revealing that more income didn’t significantly change his life. Housel emphasizes the importance of personal experience over data, explains the emotional side of spending, and contrasts independence with societal pressures. Discover why he calls money 'the greatest show on Earth' and get practical advice on making reasonable financial choices.

Join Harvard economist John Y. Campbell, author of "Fixed," as he unveils the flaws in the financial system that leave consumers at a disadvantage. He argues that excessive complexity and poor incentives hinder effective personal finance management. Campbell proposes innovative solutions like mandatory universal retirement accounts and simpler financial products. He critiques active mutual funds, explores the dangers of impulse spending and gamblification, and champions design-focused regulation to protect everyday investors. A must-listen for anyone navigating the financial landscape!

Leanne Kaufman, President and CEO of RBC Royal Trust and a lawyer specializing in estate planning, shares invaluable insights. She emphasizes why every Canadian needs a will and the real costs involved in securing one. The conversation delves into the qualities of an ideal executor and the pros and cons of choosing family members versus corporate executors. Leanne also highlights the significance of a ‘When I Die’ binder to ease the process for loved ones and discusses the complexities surrounding joint ownership and trusts.