The Wealthy Barber Podcast

In this enlightening discussion, Steve Saretsky, a top 1% realtor and insightful analyst from Vancouver, dives deep into the tumultuous landscape of the Canadian real estate market. He discusses the dramatic collapse of the condo market and the rising risk for developers and lenders alike. Steve explores why many sellers are still hesitant to adjust their expectations, addresses the growing affordability crisis for buyers, and analyzes the impact of immigration on housing demand. His candid insights reveal which markets still hold value and the enduring desire for detached homes among Canadians.

Joyee Yang, a Canadian 'finfluencer' with over 300,000 followers, shares her inspiring journey from facing financial challenges to becoming a trusted voice in investing. She discusses the appeal of all-in-one ETFs versus individual stocks and emphasizes the importance of financial literacy for younger generations. Joyee highlights how platforms like Blossom foster community among novice investors, making learning about finance engaging and interactive. Her relatable approach demystifies the world of investing, empowering beginners to take confident steps in their financial journey.

Jamie Golombek, Managing Director of Tax & Estate Planning at CIBC, shares invaluable insights into navigating tax and estate planning in Canada. He emphasizes that aiming for a large tax refund might not be ideal and discusses the advantages of employer-matched savings. Jamie highlights the benefits of the First Home Savings Account (FHSA) and strategic charitable giving, including donating appreciated securities. He also underscores the importance of having a will and maintaining a net worth statement to avoid common estate planning pitfalls.

Aaron Hector, Founding Partner of TIER Wealth and President of the Institute of Advanced Financial Planners, shares his expertise in personal finance. He discusses clever methods to optimize RESP withdrawals and the benefits of gifting tax deductions to help kids buy homes. The conversation also covers essential topics like when to defer RRSP contributions, the necessity of a will for every Canadian, and the key differences between beneficiaries and successor holders. Packed with actionable advice, this discussion aims to enhance financial literacy and estate planning strategies.

Our guest this episode is Brian Scudamore—founder and CEO of O2E Brands, the parent company of 1-800-GOT-JUNK, the world’s largest junk removal business. Brian started the company at just 18 years old after dropping out of high school, and has since built it into a $700 million empire.  Along the way, he’s expanded into other home service brands like WOW 1 DAY PAINTING and Shack Shine, and today is also a Dragon on CBC’s “Dragons’ Den.” In this conversation, Brian joins Dave to share the story behind his entrepreneurial journey—from naming the company after a phone number to franchising it internationally to turning “ordinary” home services into premium, trusted brands. They dive into the lessons Brian learned while building the business, why he believes anyone can be an entrepreneur and how his grandfather’s advice on kindness continues to shape his leadership style.  Whether you’re a budding entrepreneur or just curious how a scrappy Canadian startup turned into a household name, this episode is packed with insights and inspiration.   Show Notes (00:00) Intro & Disclaimer (00:57) Intro to Brian Scuadmore (02:47) How Brian’s Grandparents Taught Him to Treat People Kindly (04:23) 1-800-GOT-JUNK Today (08:10) Brian’s New Brands (09:26) Business Differences in Canada vs. the U.S. (11:23) How Brian Started 1-800-GOT-JUNK (13:54) Naming the Business a Phone Number (15:32) Keys to Success in Home Services (19:23) Successes and Failures of Growing Internationally  (20:56) The Franchise Model (23:54) Premium Pricing in the Service Industry (26:55) Finding $400k in the Floorboards (28:13) Business Formation in Canada (30:31) Starting New Home Service Brands (37:54) Dragons’ Den (41:54) Anyone Can Be an Entrepreneur  (42:45) The Future of Brian’s Businesses (44:39) The Impact of Dragons’ Den (47:52) Conclusion

Ben Rabidoux, the founder of Edge Realty Analytics, dives deep into Canada’s real estate landscape. He discusses the impending condo market crash and the factors driving the hyper-cyclical nature of this sector. Ben addresses rental market vacancy rates and the influence of HELOCs amid rising interest rates. He also scrutinizes Canada’s leniency towards white-collar crime through the lens of his experience catching a major fraud. With insights on immigration and affordability, this conversation is essential for anyone concerned about Canada’s housing future.

In this conversation, financial expert Adam Bornn, Founder of Parallel Wealth, shares his deep insights on Canadian retirement planning. He introduces the "Go-Go, Slow-Go, and No-Go" phases of retirement, emphasizing the necessity of having a financial plan. Listeners learn about RRSP meltdowns, tax strategies, and whether it's really essential to have a million dollars saved. Adam also discusses the benefits of delaying CPP, reverse mortgages, and the overlooked importance of generational wealth.

Amanda Lang, a seasoned Canadian business journalist and host of Taking Stock, shares her insights on Canada's economy. She highlights pressing issues like productivity struggles and the housing crisis, alongside a discussion on the potential changes to capital gains tax. Lang also delves into the transformative impact of artificial intelligence on recent job markets and entrepreneurship, articulating the risks and opportunities it presents for future generations. Her perspectives provide a thought-provoking look at Canada’s economic landscape.

Bruce Sellery, CEO of Credit Canada and author of "Moolala," discusses the alarming debt crisis in Canada. He shares insights on how personal experiences, such as divorce and rising living costs, can dramatically impact financial health. Bruce emphasizes the importance of understanding credit scores and offers practical advice for managing debt. With a background in journalism, he explores the emotional connections to money, highlighting the need for empathetic financial education to empower individuals in reclaiming their financial lives.

Jim Chuong, known as "The Lazy Canadian Investor," shares his journey to investing stardom with over a million followers online. He dives into real estate and why leveraging can be effective, while discussing the pros and cons of U.S.-only investing versus global diversification. Jim presents a critique of cryptocurrency as speculative and emphasizes a simple, low-stress approach to finance. He also reflects on his motivation for creating content, aiming to educate and simplify investing for everyday Canadians.