Host Keith Matthews welcomes David Andrew, founder of Capital Partners in Australia, for a discussion on global trends in independent advice and wealth management. Capital Partners is a leading edge independent Australian wealth management firm under David’s stewardship, Capital Partners was named Best Professional Practice in Australia by the Financial Advice Association of Australia in 2017, 2019 and 2024; the only firm to have received this award more than once.

Together, David and Keith break down what Australian, Canadian and global investors have in common, the real-world dangers of conflicted advice, actionable ways to foster trust and transparency, and how family-focused planning creates lasting results.

This discussion highlights how similarly investors think, feel, and behave - regardless of geographic location. You’ll get a behind-the-scenes view of how leading advisory firms build portfolios, guide client decisions and help clients spend smarter - without sacrificing peace of mind.

“Across the globe, people seek the same fundamentals in wealth management: simplicity, transparency, alignment with their goals, and lasting peace of mind”.

Key Topics:

● Welcome and why independent advice matters (0:00)

● Australia vs. Canada: The rise of fee-only advisory firms (6:46)

● Breaking the commissions trap: How regulation changed everything (8:04)

● What happens when big banks lose client trust and what’s replaced them (10:06)

● Real meaning of independence: Separating advice from product sales (10:53)

● The “iceberg” of financial advice - what clients truly need vs. what’s usually sold (11:20)

● The power of long-term planning: Helping clients retire earlier and happier (14:03)

● Building trust and transparency in a modern firm (16:00)

● How Capital Partners conducts discovery and values-based planning (17:14)

● How fee-for-service models protect client interests (22:59)

● Serving families: Approaches for business owners, professionals, and women in transition (21:47)

● Exiting commissions: The step-by-step shift to true independence (22:58)

● The role of trusts, estate planning, and multi-generational wealth (23:31)

● Family meetings, stewardship, and transferring financial values (26:26)

● Preparing kids and aging parents for financial transitions (27:55)

● Investment philosophy: From failed active management to evidence-based portfolios (31:06)

● How to weather market turbulence - advisor strategies that keep clients on track (35:33)

● The logic of global diversification vs. home bias (37:08)

● Tax efficiencies in the Australian system, and why they influence portfolio design (38:08)

● Lessons learned from building a multi-decade advisory firm (42:11)

● How to vet and select a truly client-centric, independent advisor (44:06)

Mentioned in this Episode:

● Tulett, Matthews & Associates

● Capital Partners

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. Feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media: LinkedIn, Facebook, and more!

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What exactly is an RESP and how can it be used to fund your child’s post-secondary education? What are the key rules around contributions, grants, and withdrawals? What should you do if your child doesn’t pursue higher education?

In today’s episode, Laurence Greenberg and Jackson Matthews break down everything Canadian parents need to know about RESPs — from contribution limits and government grants, to withdrawal strategies and tax-efficient planning. Whether you’re opening your first account or optimizing an existing one, this episode offers clear answers and practical guidance.

Don’t miss this essential overview that could help you unlock thousands in free education funding and avoid costly RESP mistakes. Tune in and feel more confident managing your child’s future education savings.

Thank you for tuning in!

● Introduction and post-tax season context (0:39)

● What is an RESP? (0:56)

● Contribution rules and lifetime limits (1:35)

● Tax treatment of contributions and growth (1:42)

● RESP grants: CESG, QESI, and CLB (2:25)

● How much you can earn in grants (3:10)

● What qualifies as post-secondary education (4:19)

● What RESP funds can be used for (4:30)

● Family plans vs. individual plans (5:11)

● RESP withdrawal rules and tax treatment (6:00)

● EAP withdrawals and tax planning strategies (6:52)

● Common RESP mistakes (8:51)

● What happens if a child doesn’t go to school (10:24)

● RRSP rollover and penalty tax explanation (11:36)

● Early lump sum contribution strategy (13:12)

● Investing RESP funds over the time horizon (14:26)

● Asset allocation by time horizon (16:15)

● Tips to optimize RESP usage (16:38)

● Importance of early planning and advisor support (17:39)

● Episode closing thoughts (18:00)

And much more!

Mentioned in this Episode:

Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. Feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media: LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram.

Have you ever wondered how to break into the challenging housing market as a first-time homebuyer? What strategies can help you secure your first property when affordability seems out of reach? How can creative financing and renovation techniques transform your homeownership experience?

In today’s episode, Keith Matthews and real estate expert Sean Broady from the Broady Windsor Group share insights on navigating today’s real estate landscape. From practical home-buying tips to financing strategies, Sean offers an optimistic perspective on how anyone can enter the market with the right approach.

Join us as we explore real-world stories, strategies for saving, and actionable tips for first-time buyers and their families. This episode is essential listening for anyone considering homeownership or supporting loved ones on their home-buying journey.

Thank you for tuning in!

Key Topics:

• Introduction to home-buying challenges (00:00:10)
• The evolving profile of first-time homebuyers (00:07:12)
• What to look for in a starter home (00:09:45)
• Renovation strategies that add the most value (00:10:35)
• When to buy: timing and market cycles (00:15:45)
• Innovative home-buying approaches (00:17:15)
• Partnering with friends or family for homeownership (00:18:33)
• Financing options and government programs (00:31:15)
• Vendor financing explained (00:38:04)
• Creative ways to save for a down payment (00:34:22)
• Managing homeownership costs and risks (00:33:45)
• How long to stay in a first home before upgrading (00:42:20)
• Real estate as a side hustle for wealth building (00:45:10)
• Key takeaways for first-time buyers and families (00:47:25)

And so much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates
• Broady Windsor Group

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

One of the challenges Canadian investors face is choosing between the sheer number of choices of types, styles, and strategies for investing that are available. To help you to cut through the noise and overwhelm, we’re starting this series on the best investment philosophy for investors, evidence-based investing.

An evidence-based strategy is a scientific approach to investing where investment decisions are based on facts and research on what’s worked for investors over the long-term. Over the next couple of episodes, we’ll be going through the four main principles of evidence-based investing every empowered investor needs to know, starting today with investing in asset classes.

On this episode, Ruben and I talk about the role of evidence-based for the empowered investor, how evidence-based investing is different from alternative approaches like market timing and stock picking, the benefits of an evidence-based investing approach, the four traditional asset classes for investment portfolios, why you should embrace the average advantage, and so much more!

Thank you for listening!

Key Topics:

·      The role of evidence-based investing for the empowered investor (1:53)

·      How this approach reduces overwhelmed Canadian investors (3:00)

·      What is evidence-based investing? (3:48)

·      The four principles of evidence-based investing (4:53)

·      Two popular alternative investment approaches (5:56)

·      The problem with making accurate market predictions (6:34)

·      How market predictions have played out during the current pandemic (7:41)

·      Why I don’t consider a market-timing approach to be a philosophy (9:08)

·      What is stock picking? (9:43)

·      What the evolution of Apple stock shows us about the risks of stock picking (10:22)

·      The difficulty in picking winning stocks (13:16)

·      Defining asset classes (14:26)

·      The four traditional asset classes for investment portfolios (15:42)

·      Breaking down the main asset classes (16:39)

·      Examples of alternative asset classes (17:49)

·      Why we don’t consider hedge funds to be an asset class (18:26)

·      Advantages of asset class investing over market timing and stock prediction approaches (19:42)

·      Making decisions based on asset allocation (20:36)

·      Embracing the average advantage (22:36)

·      Why some investors don’t use an evidence-based investment approach (24:05)

·      Key takeaways about asset class investing (25:44)

·      The power of patience (26:23)

·      And much more!

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at 

For the past eleven episodes, I was joined by my co-host, Marcelo Taboada, and we covered the groundwork for becoming an empowered investor and what you need to put in place to have a successful long-term financial outcome.

For the next part of the story of the empowered investor, I’ll be joined by my new co-host, Ruben Antoine, Portfolio Manager and Lead Client Advisor at Tulett, Matthews & Associates. Ruben is sharing his personal story as we move deeper into the investment side of things, starting with why we’re passionate about the evidence-based investment approach.

On this episode, Ruben and I talk about what we can learn from his personal story and journey into finance, how he came to recognize the flaws in the active money management approach, why hedge funds are often unable to measure up to expectations, the benefits of evidence-based investing, the key principles of evidence-based investing, and so much more!

Thank you for listening!

Key Topics:

·      Why Ruben decided to become a financial advisor to individuals (3:19)

·      What we can learn from Ruben’s personal story and journey into finance (4:23)

·      How Ruben’s multi-national experience growing up impacted his life (5:01)

·      Ruben’s linguistic background (7:14)

·      The long-term benefit of Ruben’s early career working at an accounting firm (8:11)

·      How Ruben’s interest in travel and improving his communication skills landed him in the British Virgin Islands (BVI) (9:12)

·      Why the BVI provided a good first exposure to the world of investment funds (10:16)

·      What is a hedge fund? (11:42)

·      Ruben’s surprising discoveries about hedge funds (12:53)

·      How Ruben discovered evidence-based investing (15:53)

·      What is the Chartered Financial Analyst (CFA) program? (16:39)

·      Ruben’s experience with becoming a CFA (17:11)

·      Transitioning from accounting to finance as a financial controller (18:04)

·      Why Keith was surprised to see Ruben’s application for a portfolio manager role (18:48)

·      Why Ruben chose to pursue a career with a firm with an evidence-based investment philosophy (20:26)

·      How our backgrounds in active money management turned us away from that approach (22:02)

·      The active approach to money management (23:10)

·      What is evidence-based investing? (23:10)

·      The beginnings of evidence-based investing (25:37)

·      The four key principles of evidence-based investing (26:59)

·      Why Ruben recommends evidence-based investing (27:46)

·      Why we’re passionate about the evidence-based investing approach to money management (28:34)

·      And much more!

Thanks for Listening!

Be sure to subscribe on Apple, Google, 

For the past ten episodes, we’ve highlighted the key factors you need to understand to be able to achieve financial security. Today, we’re moving in a new direction and talking about current market conditions. The goal of today's episode is to shed some light on how you can move forward as an empowered investor.

As the end of summer approaches, we’re almost 6 months into the COVID-19 pandemic. Markets have rebounded from the lows we saw in March but while some stocks are booming, others are floundering. In these unprecedented times, it can be difficult to look too far into the future, but we want to encourage you not to get caught up in the short term. We're going to explore what stocks and sectors are hot, the implications of the current state of the markets, as well as the lessons and tools we can learn from the past two decades.

On this episode, Keith and Marcelo discuss the current state of the stock market, the surprising results of our 1-year and 20-year rankings of 5 major benchmarks, the massive divergence between small company and mega-cap technology stocks, the lessons we can learn from the market cycles of the past 20 years, and so much more!

Thank you for listening!

Key Topics:

·      An overview of current market conditions (1:31)

·      Reviewing the one-year return rankings for our benchmarks as of June 30, 2020 (3:45)

·      The five benchmarks we chose for our review (4:45)

·      Why we’ve seen a massive divergence between small company and mega-cap technology stocks (6:00)

·      What are fractional units? (7:11)

·      How fractional shares have changed the accessibility to capital markets (7:34)

·      The impact of stories on investor behavior (9:37))

·      How the market cycles of the last 20 years can help us (11:13)

·      The surprising twenty-year return rankings for our benchmarks (13:02)

·      Why it’s important to look at compound returns (14:12)

·      What you need to know about the NASDAQ (16:57)

·      NASDAQ performance over the last 20 years (17:23)

·      Comparing Toyota and Tesla (18:57)

·      Zooming in on the trends in the NASDAQ performance in the 2000s and 2010s (20:39)

·      What you need to know about the S&P 500 (22:26)

·      How did the lost decade affect the S&P 500? (23:03)

·      Why having a long-term mindset benefitted investors over the last 20 years (23:47)

·      What is the Teranet House Price Index? (25:39)

·      The implications of the current state of the Canadian housing market (26:39)

·      Trends in Canadian bond performance since the 1940s (27:10)

·      Why small company stocks still have a place in a diversified portfolio (29:40)

·      How Odysseus can help you to protect your portfolio (31:24)

·      What the movie Gladiator can teach you about the value of following a strategy (33:49)

·      Why we recommend having and following an investment policy to help with discipline (35:57)

·      The significance of maintaining a diversified portfolio and patience...

One of the most common criticisms we hear about the investment industry is that a lot of investors say things don't feel transparent. To remedy that problem, investment policy statements are becoming more common in the private client world and we believe they're a must-use as they create clarity, transparency, and empowerment.

Just as we use maps when we travel to give us a sense of where we're going, we should have a map for how we invest today, tomorrow, and in the future. In the current context with Coronavirus and the economic impact it’s had, an investment policy statement is more critical than ever before. To help you on your journey as an empowered investor, today we're going to explore what you need to know about the investment policy statement.

On this episode, Keith and Marcelo cover how having an investment policy statement empowers you as an investor, the goals of the statement, the main elements that must be included, how to look at risk management, common mistakes people make in their investment policy statements, why you need one even if you are a DIY investor, and so much more!

Thank you for listening!

Key Topics:

·      What is an investment policy statement? (2:12)

·      How having an investment policy statement empowers investors (3:33)

·      Examples of similar documents in other industries (4:17)

·      The evolution of transparency and documentation in the investment industry (5:50)

·      The main goal of a written agreement, like an investment policy statement (7:17)

·      Why you need to use an investment policy statement (8:39)

·      A recent example where Marcelo suffered from not having an agreement in place (9:55)

·      Why your goals are a critical part of the foundation of your investment policy statement (12:11)

·      Differentiating between willingness and capacity to bear risk (13:14)

·      The importance of the investor-advisor feedback loop (16:18)

·      The mistake many people make when estimating their investing time horizon (16:56)

·      Why cash flow considerations should be included in your investment policy statement (18:53)

·      How having a recommended long-term asset allocation protects your investments (20:19)

·      Why we include an investment philosophy in an investment policy statement (22:33)

·      How a comprehensive investment policy statement is essentially a transparency statement (24:23)

·      The lifeboat drill (25:53)

·      What you should look for in the advisory firm compensation section of your investment policy statement (27:41)

·      Risks of working with an advisory firm without an investment policy statement (29:17)

·      How a DIY investor should approach an investment policy statement (30:35)

·      And much more!

Thanks for Listening!

Be sure to subscribe on Apple, Google, 

In the last two episodes of our miniseries on planning, we’ve taken a closer look at the importance of the financial plan for achieving your ultimate goal of financial security. We’ve covered the key areas of focus and potential pitfalls from age 25 up to pre-retirement and today we’re turning our attention to retirees.

Around 65, most of us enter a transition zone where we go from our maximum earning years and power play years to start collecting the fruits of our labor. Planning at this stage ensures you have the resources in place to chill out and do everything you’ve wanted to do. There are a number of different considerations to make in sustainable retirement planning and we’ll show you how to test your plans and set yourself up for success.

On this episode, Keith and Marcelo talk about the most important aspects of financial planning for retirees, why sustainability plays a key role at this stage of life, how to work out your sustainable withdrawal rate, the biggest financial challenge for retirees, why you shouldn’t rely on your home being your main retirement asset, and so much more!

Thank you for listening!

Key Topics:

·      Why you need to understand financial planning (1:20)

·      Key takeaways for 25 to 35-year-olds and 35 to 65-year-olds (2:00)

·      Why planning is important for retirees (4:27)

·      How does happiness vary in different age groups? (5:27)

·      The main objectives of retirees (6:55)

·      Why sustainability plays a key role at this stage of life (9:21)

·      The six gears of financial planning (10:32)

·      Where you should focus on each of the gears during your retirement (11:02)

·      Working out your sustainable withdrawal rate (16:04)

·      The 4% rule for retirees (18:06)

·      How we apply the 4% rule in practice (20:27)

·      Using software to stress test your financial plan (22:34)

·      Simplifying Monte Carlo financial analysis (25:21)

·      The biggest financial challenge for retirees (28:12)

·      Unexpected financial expenses that come up for retirees (29:06)

·      How the coronavirus pandemic has impacted retirement plans (30:30)

·      What to consider when projecting your expected returns (31:24)

·      Why a home should not be your main retirement asset (34:19)

·      How you can downsize in retirement (36:29)

·      Why downsizing can be tricky to execute (38:39)

·      The benefits of planning for retirees (42:12)

·      Consequences of not doing sustainable forecast planning for retirement (42:42)

·      Key takeaways of financial planning for retirees (43:33)

·      And much more!

Thanks for Listening!

Be sure to subscribe on Apple, Google, 

Financial planning is critical in creating a foundation for anyone wishing to become an empowered investor. Each stage of life has a specific set of issues that must be addressed to remain on track with your financial plans and today we’re zooming in on the 35 to 60-year-old age group.

During this period, most of us find ourselves extremely busy as we focus on trying to get ahead in our careers while building up our personal lives. This is also when we typically have the highest earnings of our career as we reap the rewards of the careers we’ve built up to this point. Navigating this time well is critical for setting the stage for your next phase of life.

On this episode, Keith and Marcelo talk about why a financial plan is essential for becoming an empowered investor, what you should be focusing on in the 35 to 60-year-old age bracket, how to avoid lifestyle creep, the two questions you need to ask yourself when you enter the 35 to 60-year-old group, and so much more!

Be sure to join us for our next episode as we continue to explore the various aspects of financial planning at every age by looking at the planning components for retirees. Thank you for listening!

Key Topics:

·      The essential components of a financial plan (2:20)

·      Why a financial plan is essential for becoming an empowered investor (3:40)

·      Why we distinguish between the 35 to 45 and 45 to 60 age groups (5:23)

·      The financial focus in the 35 to 60-year-old age span (7:04)

·      How you should approach each gear of financial planning in the 35 to 60 age bracket (8:28)

·      FOMO in 35 to 60-year-olds (12:10)

·      Who is most vulnerable to lifestyle creep? (13:14)

·      Financial pressures unique to the sandwich generation (15:08)

·      The two questions you need to ask yourself when you enter the 35 to 60-year-old group (15:51)

·      What you can learn from Canada’s average household savings rate over the past 30 years (16:34)

·      The downside of not experiencing a recession (18:16)

·      Understanding retirement mathematics (20:07)

·      What the research shows about Canadian’s readiness for retirement (21:08)

·      Why you need to save 20% of your income (22:42)

·      How much savings is enough when you’re 35 to 60? (24:52)

·      The benefits of financial planning (26:14)

·      The consequences of overlooking financial planning (26:58)

·      Our key takeaways for people in the 35 to 60-year-old age group (28:41)

·      And much more!

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

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Now that you know the key obstacles that can derail you, we’re switching gears and starting to look at the planning and building side of becoming an empowered investor. Today we’re kicking things off with our series on one of the two key roadmaps for the empowered investor, financial planning.

Creating a financial plan is an essential step for every investor since it provides a framework and action plan for achieving your future goals. We want to get down to the details so we’re breaking up this topic into age brackets, starting with planning for 25 to 35-year-olds.

On this episode, Keith and Marcelo talk about the foundational concepts behind financial planning, why it is crucial for the empowered investor, key financial principles you should focus on between ages 25 to 35, our main recommendations for 25 to 35-year-olds, and more!

Be sure to join us for our next episode as we continue our mini-series on financial planning. Thank you for listening!

Key Topics:

·      Recapping what we’ve covered so far on the show (1:04)

·      What is financial planning? (4:42)

·      Differentiating between a financial plan and an investment plan (5:33)

·      The six main sections you need to consider in your financial plan (6:55)

·      Why financial planning is so important for the empowered investor (7:53)

·      The three main areas of financial focus for 25 to 35-year-olds (9:12)

·      Key financial principles you should focus on between ages 25 to 35 (10:54)

·      The biggest obstacles to good financial planning in the 25 to 35 age bracket (13:23)

·      Our main recommendations for 25 to 35-year-olds (15:08)

·      Why you need to save at least 15-20% of your income (16:03)

·      How to know if you’re saving enough (18:06)

·      Why awareness is crucial for good financial planning (19:51)

·      What you need to know about compound growth (20:51)

·      Why planning is so important in the empowered investor dialogue (23:12)

·      The consequences of not having a plan during your 25-35 years (24:49)

·      Our biggest takeaways for 25 to 35-year-olds (26:04)

·      And much more!

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

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What does it mean to properly diversify an investment portfolio? And why is it so hard for many investors to maintain that proper diversification over long periods?

Diversification has become one of those topics everyone talks about, but many investors still aren’t confident that they have good levels of diversification. That’s a big problem since one of the greatest pitfalls of investing is not diversifying properly.

Having a properly diversified portfolio is the best defense against the unexpected events that inevitably affect the financial markets. With the pieces in your portfolio fitting together well, like a puzzle, you significantly reduce your risk.

On this episode, Keith and Marcelo talk about why diversification is important, what proper diversification looks like, common examples of under- and over-diversification, the consequences of not diversifying properly, and more!

Be sure to join us for our next episode where we're going to introduce the dos and don'ts of financial planning. Thank you for listening!

Key Topics:

·      Spotify’s latest milestone (1:35)

·      Common investment mistakes (2:41)

·      What it means to become an empowered investor (3:11)

·      Why diversification is important (4:43)

·      How we apply the concept of diversification outside of investing (6:00)

·      The evolution of opportunities available to Canadian investors in recent decades (6:58)

·      What proper diversification looks like in your investment portfolio (8:26)

·      Examples of under-diversified portfolios from the early 2000s (11:27)

·      Marcelo’s memorable experience with an under-diversified portfolio (14:16)

·      How over-diversification looks in your portfolio (15:48)

·      The main problem with over-diversification (16:32)

·      Why investors get in trouble with diversification (17:12)

·      What is a black swan from an investment perspective? (19:10)

·      Why 9/11 is considered a black swan event (20:16)

·      Is COVID-19 a black swan event? (21:54)

·      The connection between diversification and black swans (22:48)

·      The double negative impact of not diversifying properly (23:39)

·      A simple way to think about diversification (24:54)

·      And much more!

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on LinkedIn, 

As an investor, it’s natural to want to outsmart the market. When you combine that with the discomfort of a volatile market like we are currently experiencing, it’s easy to see why timing the market and chasing performance are so tempting.

The noise we spoke about in previous episodes always gets louder when we’re in uncertain times. Friends, family and the media are probably telling you to be reactive and, in the moment, their advice sounds reasonable. This time is different, right?

Unfortunately, it’s not. The reactive approach means investors often end up buying and selling at the wrong points and for all their trouble, it can end up costing up to 77% of total returns. Instead, when you experience a bad market event, that’s when you most need to rely on your investment philosophy.

On this episode, Keith and Marcelo talk about why investors try to time the market, how it affects investors’ long term goals, what it means to chase performance, significant investment fads, rallies and busts since the 1990s, why it’s so important to maintain a high level of diversification, and more!

Be sure to join us for our next episode where we’ll finish up the series on investment obstacles by talking about diversification. Thank you for listening!

Key Topics:

·      What constitutes an investment mistake (1:18)

·      Why it’s important to be aware of investment mistakes (2:22)

·      How do investors try to time the market? (3:47)

·      The false appeal of timing the market (4:46)

·      The two trades at the core of market timing strategies (5:35)

·      Why market timing is often detrimental to investors’ long term goals (6:24)

·      Market timing versus chasing performance (7:50)

·      Significant investment fads, rallies and busts since the 1990s (9:27)

·      How stock performance often occurs in cycles (13:06)

·      The influences on Canadian investor philosophy (15:07)

·      Dramatic stock movement in the last 10 years (15:53)

·      Why it’s so important to maintain a high level of diversification (17:08)

·      The shift in styles from the 1990s to today (18:07)

·      How FOMO leads investors to chase performance (19:04)

·      What the data shows about money managers’ performance over time against benchmarks (20:25)

·      The counterintuitive evidence on how to select a money manager (22:42)

·      The surprising results of Vanguard’s study on the long-term performance of Morningstar-rated funds (24:29)

·      How giving in to timing the market and chasing performance impacts you personally and financially (26:36)

·      Why awareness is your most important tool for avoiding investment pitfalls (27:31)

·      And much more!

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Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to...

As the great economist, John Kenneth Galbraith said, “There are two kinds of forecasters: those who don't know, and those who don't know they don't know.”

It’s human nature to be drawn to stories. We all want someone to tell us how things will turn out and throughout history, people have used predictions to gain power. We see the same cycles play out in financial media and services.

From journalist predictions aimed at boosting readership and viewership to expert predictions coloured by the ingrained biases that we all have, we're passionate about the fact that financial predictions should not be used in the management of portfolios. Predictions can easily sabotage your financial portfolio and jeopardize your long-term financial security.

On this episode, Keith and Marcelo talk about the two main sources of financial predictions, how to identify predictions, some past predictions and how they’ve stacked up against actual outcomes, the dangers of building portfolios based on predictions, and more!

Be sure to join us for our next episode where we’ll be continuing the series on investment obstacles. Thank you for listening!

Key Topics:

·      Why the financial media leverages predictions for increased viewership and business growth (2:48)

·      Current examples of predictions shared in the financial media (4:43)

·      The difficulty with differentiating between good financial journalism and noise (5:47)

·      How the financial services businesses benefit from predictions (7:16)

·      Cases of memorable “flavour of the month” investment predictions (8:42)

·      Why a recent prediction which recommended playing the VIX is dangerous for investors (9:52)

·      Investment predictions from the book, Boom, Bust & Echo (11:59)

·      Assessing the financial impact if you had invested according to the predictions of Boom, Bust & Echo (13:39)

·      How investment predictions can derail long-term financial plans (15:15)

·      Why following predictions often results in anxiety, rather than assurance (18:12)

·      The exercise we did in 2014 to assess the accuracy of expert predictions (19:14)

·      What the research shows about the performance of tactical asset strategies versus their benchmark (21:55)

·      Looking back at some of the big names and predictions during the economic crisis and recovery during 2007-2012 (25:19)

·      Why people are drawn to predictions despite their inconsistencies (30:44)

·      How the Dunning–Kruger effect causes expert predictions to persist (32:13)

·      Why you should view predictions as noise (35:53)

·      How your investment philosophy protects you from falling prey to predictions (36:19)

·      And much more!

Thanks for Listening!

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Have you ever wondered if investing in emerging trends, like AI or green energy, could give you an edge? Are thematic investments a smart choice for long-term success? What are the potential pitfalls, and how can investors avoid them? In this episode, we explore these questions and more.

Keith Matthews and Marcelo Taboada examine the appeal of thematic investing, looking at why it draws investors in and why it may often fall short. They discuss findings from a recent Morningstar report that highlights the returns—and missed returns—associated with thematic strategies, shedding light on how timing and trends impact investors' outcomes.

Tune in to learn the do’s and don’ts of thematic investing and how a balanced approach can help you achieve your financial goals without chasing the latest investment craze. 

Thank you for tuning in!

Key Topics:

• Introduction to thematic investing (0:57)
• Defining thematic investing and its focus on macro trends (2:05)
• Why fund companies promote thematic investments and the impact of fees (3:12)
• Key challenges in thematic investing: the allure of trends and timing (3:47)
• Discussion on the "buy-low, sell-high" difficulty in thematic strategies (4:28)
• The Morningstar report on thematic fund returns and investor outcomes (5:20)
• Differences between time-weighted and dollar-weighted returns explained (6:12)
• Significant return gap in thematic investing (6:52)
• "Mind the Gap": Morningstar’s analysis on investor returns vs. fund returns (7:25)
• Historical themes and their outcomes, from the Nifty Fifty to BRIC (10:05)
• Importance of fees in thematic investing and their effect on returns (11:45)
• ARK Innovation Fund example: performance gaps and timing issues (15:13)
• Dangers of chasing manager performance and its parallels with thematic investing (17:52)
• Strategies to avoid thematic investing pitfalls (20:12)
• Discussion on "Core and Explore" strategy and why it often fails (21:30)
• Final takeaways on resisting the urge to chase trends (22:45)

And so much more!

Mentioned in this Episode:

• Morningstar: Navigating the Global Thematic Fund Landscape
• Mind the Gap 2024: A Report on Investor Returns in the US
• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

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One of the biggest challenges of investing is being able to stop mistakes from occurring. It's one of those areas where the winner can be the person that makes the least mistakes.

An investment philosophy that aligns with your goals and personal financial affairs is crucial for achieving financial security. It steers the decision-making process and stipulates how your money will be managed across both good and challenging times.

Especially in challenging times like the current pandemic, high levels of noise make it difficult not to be swayed to make adjustments to your portfolio based on market fluctuations and you’re particularly vulnerable when you don’t have an investment philosophy to guide you.

On this episode, Keith and Marcelo discuss why you need a strategy to avoid making investment mistakes, the components of an investment philosophy, the criteria you need to consider when developing your investment philosophy, the consequences of investing without a philosophy, and more!

Be sure to join us for our next episode where we’ll be continuing the series on the Deadly Sins of Investing by looking at why you shouldn’t build your portfolio based on investment predictions. Thank you for listening!

Key Topics:

·      Common investment mistakes (1:27)

·      The winner can be the person who makes the least mistakes (2:11)

·      The reasons investment mistakes occur (3:05)

·      Everyday sources of noise (3:50)

·      How mistakes affect your long-term investment goals (5:19)

·      Why you need an investment philosophy (5:48)

·      How to develop your investment philosophy (6:57)

·      Human nature and the need for guiding rules and principles (9:10)

·      Linking an investment philosophy to an individual investor (12:07)

·      Benefits of having an aligned investment philosophy (13:03)

·      Consequences of investing without a philosophy (14:23)

·      The impact of not having an investment philosophy in challenging times like these (16:42)

·      Examples of erratic investor behavior during the 2007-2008 market decline (18:44)

·      How to identify the right investment philosophy (21:10)

·      Questions you should ask yourself about your investment philosophy (22:04)

·      And much more!

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

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Long-term investment success is based on two crucial elements: following winning principles and conquering the obstacles along the way. Today we’re taking a look at the latter.

Although the details of investment success look different for every investor, we’re all aiming for the same goal - financial security. Along the journey, there’s one big obstacle that can trip up even an experienced investor. That obstacle is noise.

Noise comes from sources we’re exposed to every day and which are often packaged as helpful information. We want to empower you to not only understand the different types but to also learn how to spot and protect yourself from them.

On this episode, Keith and Marcelo discuss the way obstacles block the path to investment success, why knowing good investing principles isn’t enough, the four main sources of noise that you’ll encounter, how you can block out the noise, and more!

Be sure to join us for the next episode where we’ll be starting a series on the Deadly Sins of Investing. Thank you for listening!

Key Topics:

·      How obstacles come up in your daily activities (1:29)

·      Why simply following a guide is often easier said than done (3:38)

·      The main obstacle to achieving financial security (4:48)

·      The four types of noise affecting your investment goals (5:24)

·      How general media might lead you to make bad investment decisions (6:16)

·      What is a wholesaler in the context of investing? (8:31)

·      Why expert predictions are inherently problematic (9:24)

·      How friends and family can become particularly difficult sources of noise (11:27)

·      The core reason there’s so much noise around us (15:20)

·      The slippery slope of tuning in to the noise (19:04)

·      Why you need to stick to a long-term investing strategy (22:03)

·      What previous recessions show us about investing in equities (23:44)

·      How you can tune out the noise (27:05)

·      Our challenge for you to try when you’re consuming media (28:13)

·      The combination you need to increase the odds of your long-term investing success (28:40)

·      And much more!

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

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Welcome to the first episode of The Empowered Investor. Today we’re introducing ourselves to you and sharing the foundational principles of the Empowered Investor. Join us on this inspiring journey, hosted by Keith Matthews and Marcelo Taboada.

Keith Matthews is the author of The Empowered Investor: A Guide to Building Better Portfolios, and a Partner and licensed Portfolio Manager at Tulett, Matthews & Associates (TMA). Keith left the institutional investment management industry in 1997 to work directly with private investors because he wanted to make a difference. He felt that he could have a positive impact on helping individuals create a successful investment experience.

Marcelo Taboada is an Associate at TMA and after finishing his studies, he decided that he wanted to work in a field that allowed him to help people and cultivate his intellectual curiosity. Marcelo decided to make the move to Private Wealth Management to grow professionally in an environment where the client is priority number one.

On this episode, Keith and Marcelo share their stories on how they joined the private client world and talk about the Empowered Investor narrative, why they believe financial security is the thread that links all investors, what you’ll learn from listening to the show, and more!

Key Topics:

·      Marcelo’s role at TMA (1:26)

·      How Marcelo went from childhood in El Salvador to becoming a financial advisor in Canada (3:37)

·      Why Marcelo almost left finance to start a new career path (6:03)

·      The benefits of an independent firm (6:55)

·      Keith’s role at TMA (7:42)

·      Why Keith’s inclination towards helping people led him away from bond trading (8:32)

·      The aha moment that kick-started Keith’s private client career (10:16)

·      Why Keith wrote The Empowered Investor (13:18)

·      The common goal all investors are aiming for (14:13)

·      The biggest challenge investors face (16:04)

·      How our core belief will inform the direction of this show going forward (18:45)

·      What you’ll learn by joining us for this podcast (19:23)

·      And much more!

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

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Do presidential elections determine the stock market's performance? Is there a difference in returns between Republican and Democrat administrations? In today’s episode, Marcelo Taboada and Jackson Matthews break down the data from past elections and examine the long-term impact—or lack thereof—of political events on the stock market. How does human ingenuity shape market outcomes, and what lessons can investors learn from history?

Join Marcelo and Jackson as they dive into key historical periods, such as the Great Depression, World War II, and the COVID-19 pandemic, to explore how markets react in times of crisis and growth. They also address common misconceptions about the stock market and offer a fresh perspective on investment strategies in the face of political change.

Thank you for tuning in!

Key Topics:

• Introduction to election and stock market discussions (0:00)
• Common misconceptions about U.S. elections and market volatility (1:12)
• Understanding market resilience despite political changes (2:07)
• Long-term market trends through various U.S. elections (3:01)
• The effects of social media and news on investor sentiment (3:50)
• Discussion on Federal Reserve's role vs. presidential impact on the market (5:00)
• Case study: The 2016 election and market predictions (7:15)
• Historical examples of market reactions during past elections (8:45)
• Insights from major historical events (Great Depression, WWII, etc.) (9:23)
• The stock market during FDR's presidency (9:57)
• Economic resilience during Truman and Kennedy administrations (10:45)
• The Bush era and market behavior during 9/11 and the 2008 financial crisis (11:56)
• The importance of staying invested despite political events (12:45)
• Trends during Trump's presidency and the COVID pandemic (13:46)
• Impact of macroeconomic events and technological advancements (14:32)
• Discussion on human innovation and economic recovery (15:05)
• Summary of key takeaways on long-term investing (17:02)
• Closing remarks and advice for investors during election years (17:50)
• Personal updates: Marcelo on fatherhood and Jackson's engagement (18:02)

And so much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram.

Are you or a loved one facing the challenges of long-term financial planning with a disability? Wondering how to secure a stable future while navigating government benefits? The Registered Disability Savings Plan (RDSP) could be the answer you’re looking for.

Hosts Lawrence Greenberg and Jackson Matthews break down the complexities of the RDSP, explaining how it offers significant government support through income-based grants and bonds, making it a powerful savings tool to help Canadians with disabilities secure their financial future.

With tax-deferred growth, matching grants, the ability for multiple family members to contribute and bonds for low-income families, the RDSP allows for faster savings growth.

Lawrence and Jackson discuss the RDSP’s complexity and the need for expert guidance to fully leverage its potential. Whether you’re planning for yourself or helping a family member, the RDSP can be a game-changer for securing a better financial future.

Thank you for tuning in!

• Overview of the RDSP and its importance (1:03)
• Eligibility requirements for the RDSP (2:02)
• How the RDSP functions as a hybrid account (2:57)
• Who can be a beneficiary of the RDSP? (3:27)
• Contribution limits and rules for the RDSP (4:01)
• Details of the Canada Disability Savings Grant (4:59)
• Income thresholds and grant matching (6:02)
• Canada Disability Savings Bond explained (7:06)
• Catch-up provisions for missed contributions (9:01)
• Withdrawal rules and tax implications (10:01)
• Benefits of the RDSP compared to other accounts (12:00)
• Takeaways and final thoughts on the RDSP (13:10)
• Closing remarks and call to action (14:00)

And much more!

• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. Feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media: LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram.

Have you ever wondered how the Disability Tax Credit (DTC) can assist Canadians with disabilities and their families? What are the challenges involved in applying for this underutilized credit? How can one effectively navigate the application process to maximize benefits? These and more questions will be explored in today’s episode.

Host Lawrence Greenberg sits down with Christine Brunsden, CEO of Benefits2, to discuss the Disability Tax Credit—a powerful yet often overlooked resource for Canadians. Christine delves into the intricacies of the DTC, clarifying eligibility requirements, debunking common misconceptions, and revealing the broader benefits it can unlock.

The conversation also sheds light on how aspects of aging, such as mobility issues, cognitive decline, and incontinence, as well as chronic illnesses like diabetes, can qualify as disabilities under the DTC. Christine offers practical advice on navigating the application process and underscores the importance of educating both professionals and the public about this valuable financial tool.

Whether you’re exploring the DTC for yourself or a loved one, this episode provides essential insights into obtaining financial support for those with disabilities.

Thank you for tuning in!

Key Topics:

• Introduction to the Disability Tax Credit (0:39)
• Misconceptions about the Disability Tax Credit (1:21)
• The role of physicians in the application process (3:16)
• Eligibility criteria for the Disability Tax Credit (6:02)
• The importance of understanding 'severe and prolonged impairment' (6:29)
• Retroactive application of the Disability Tax Credit (9:57)
• The complexities of the T2201 application form (10:54)
• How Benefits2 assists with the application process (13:38)
• Common challenges faced by applicants (14:29)
• Importance of education and awareness about the credit (19:17)
• Dementia and other cognitive impairments on Disability Tax Credit eligibility (22:16)​
• Services offered by Benefits2 (26:42)
• The impact of cognitive decline and aging on eligibility (26:56)
• Overlooked disabilities and the importance of seeking help (29:03)
• Final thoughts on overcoming stigma and pursuing the Disability Tax Credit (35:12)

And so much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates
• Benefits2

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

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How should investors react to recent market volatility? What are the lessons from Intel's rise and fall that modern investors can learn from? Is diversification really the key to long-term success?

In this episode, Keith and Lawrence dive into the recent bouts of market volatility and share their thoughts on how you can maintain your composure during these turbulent times. They also delve into the cautionary tale of Intel, once a stock market darling of the late 90's, to emphasize the risks of over-concentrated investments in seemingly "can't miss" stocks.

Whether you're concerned about recent market trends or curious about the fate of once-dominant companies, this episode provides a clearer understanding of why it's essential to stay the course, ignore the noise, and maintain a diversified portfolio that aligns with your long-term financial goals.

Thank you for tuning in!

• Introduction to recent market volatility (0:45)
• Impact of U.S. unemployment figures on global markets (1:18)
• Contradictory economic data and its effect on the market (2:22)
• Importance of staying the course and avoiding short-term panic (2:55)
• Analysis of the VIX (volatility index) and its implications (3:46)
• Long-term investing mindset in volatile markets (5:05)
• Introduction to Intel's fall from grace (5:43)
• Intel's peak and subsequent decline (6:49)
• Comparisons between Intel and NVIDIA—cautionary tales (7:43)
• The dangers of concentrated investment in "superstar" stocks (8:45)
• Takeaways from Intel's story: Avoiding the allure of high valuations (9:26)
• Concluding thoughts on market volatility and Intel's lessons (10:07)
• Final message: Stay diversified and focus on long-term goals (10:21)

And much more!

• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. Feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media: LinkedIn, Facebook, and more!

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Mid-year review - inflation down, stocks and bonds up: In this episode Keith and Lawrence delve into the 2024 mid-year review, providing a comprehensive overview of year-to-date asset class returns.

They elaborate on the strong performance of various asset classes, particularly emphasizing how technology stocks like NVIDIA have propelled the S&P 500's gains. But they remind us of the importance of not chasing returns, and of the importance of maintaining a globally diversified portfolio for long-term performance and for risk management.

As they look ahead to the upcoming fall US elections, they advise us that sticking to a consistent, diversified investment strategy is far more effective than trying to predict investment outcomes based on election results.

Key Topics:

• Mid-year review of portfolios and investments (3:01)
• Evolving trends shaping investment strategies. (3:20)
• Star performers driving the market through June 30th, 2024 (3:48)
• Tech titans, especially NVIDIA, fueling market gains (4:44)
• Why spreading your investments globally is crucial. (5:31)
• How today’s valuations set the stage for tomorrow’s returns. (7:52)
• Insights into the styles of stocks and market trends (10:04)
• The significance of AI across industries (11:26)
• Inflation and its impact on your household debt and spending power. (12:29)
• Historical context of Bank of Canada's interest rate policies (13:40)
• Implications of higher interest rates on Canadian debt levels (15:15)
• Advice on balancing investments and debt (17:26)
• Upcoming U.S. elections and their impact on markets (17:41)

And so much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates
• BDO Canada

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

Are you thinking about selling your business but unsure where to start? Wondering how to maximize its value and attract the right buyers? How can you structure your finances to maximize the value of your business?

Tune in as host Keith Matthews and guest Uros Milekic, partner at BDO Canada, explore the critical strategies for enhancing business operations, ensuring accurate financial reporting, and structuring for optimal tax efficiency. Uros also explains the key factors that potential buyers look for and how to position your business to meet those criteria.

Whether you're looking to sell in the near future or planning long-term, this episode offers invaluable insights to help you navigate the complex selling process and secure your financial future.

Thank you for tuning in!

Key Topics:

• Why business owners need to prepare their businesses for eventual sale. [00:01:00]
• 5 Key Components: business processes, management structures, people, data and financials, and vision for future growth. [00:02:29]
• How business owners often get lost in daily operations and fail to plan for long-term goals. [00:03:28]
• The importance of accurate financial reporting, monthly reporting, and external audits. [00:12:26]
• The benefits of holding companies and family trusts for tax efficiency and planning. [00:14:11]
• Explanation of the lifetime capital gains exemption and its criteria [00:15:10]
• The timing and benefits of setting up holding companies and family trusts. [00:18:32]
• Understanding business valuation process, who uses it, and its importance in business sales. [00:23:13]
• Breakdown of different types of buyers (internal, strategic, non-related, and private equity) and how they value businesses. [00:26:03]
• The growing influence of private equity in the market and their criteria for purchasing businesses. [00:28:25]
• The differences between selling shares and assets, including tax implications and strategies. [00:31:36]

And so much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates
• BDO Canada

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and...

How can entrepreneurs effectively plan and accumulate wealth? What role do holding companies and the capital dividend account play?

Join host Marcelo Taboada and Uros Milekic from BDO Canada as they dive into key financial strategies for entrepreneurs. Learn how to optimize tax savings, protect assets, and set up holding companies for legal and tax benefits.

Discover the pros and cons of taking a salary versus dividends, managing cash flow, and planning for retirement. Uros explains the Capital Dividend Account (CDA) and Refundable Dividend Tax on Hand (RDTOH) for tax-efficient fund distribution, and highlights Individual Pension Plans (IPPs) as a powerful wealth accumulation tool.

Tune in to navigate financial planning complexities and make informed decisions for your business!

Key Points:

• Advisory Team: Importance of a team of accountants, tax advisors, and lawyers. (9:50)
• Setting Up Holding Companies: Advantages for legal protection and tax efficiency. (16:00)
• Salary vs. Dividends: Pros and cons, and tax Implications of taking a salary versus dividends. (25:32)
• Accumulating Wealth: Wealth strategies within a corporation, using RRSPs, TFSAs, and investments. (26:45)
• Capital Dividend Account (CDA): Using the CDA to distribute funds tax-free. (35:12)
• Refundable Dividend Tax on Hand (RDTOH): Understanding RDTOH for managing investment income. (40:12)
• Optimizing Financial Strategies: Techniques for managing cash flow, working capital, and retirement planning. (42:39)
• Incorporating a Business: Why and when to incorporate for tax benefits and asset protection. (51:37)
• Insurance Considerations: Types of insurance policies and their implications when held personally or within a corporation. (1:01:52)
• Individual Pension Plans (IPPs): IPPs as a wealth accumulation strategy for high-income business owners, benefits over traditional RRSPs. ​(1:05:00)

And so much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates
• BDO Canada

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn,

As parents, we all want to set our kids up for financial success. But how do you teach them about money in a way that sticks? In our latest episode, Marcelo speaks with Robin Taub, CPA and author of "The Wisest Investment," to get her expert advice on instilling money smarts from an early age.

Robin Taub is the bestselling author of The Wisest Investment. The Canadian edition of this book was awarded the Best Adult Book of 2022 by the Institute for Financial Literacy.

Join us as we discuss the practical tips and exercises Robin outlines in her book, explore her personal experiences, and understand why financial literacy is essential for children, adolescents and young adults. This episode is packed with insights for parents, grandparents, and mentors who are keen on making a lasting impact on their children’s financial future.

Thank you for tuning in!

​Key Topics:

• The Wisest Investment: Robin Taub’s book and its impact (1:04)
• Financial struggles of parents and the importance of teaching kids about money (5:25)
• Marcelo's personal experience and how his financial journey shaped his views (15:00)
• The role of values in financial education and how to instill them in children (25:30)
• Using teachable moments to impart financial lessons to kids (27:21)
• Robin's background and journey into financial education (30:32)
• Different approaches to allowances and tying them to chores (36:44)
• How budgeting can be made fun and engaging for kids (40:06)
• The importance of gratitude and giving in financial education (44:17)
• Introducing kids to investing and the stock market (49:49)
• Using board games to teach kids about money (48:33)
• The impact of technology and mobile banking on financial education (54:53)
• The significance of letting children make financial mistakes and learn from them (1:05:00)
• The importance of financial literacy (1:10:45)

And so much more!

Mentioned in this Episode:

• The Wisest Investment by Robin Taub
• Get Smarter About Money
• Atomic Habits by James Clear
• ECHOage
• The Good Life by Robert Waldinger
• 11 rings: The Soul of Success by Phil Jackson
• Man's Search for Meaning by Viktor E. Frankl
• Podcast: Teaching Kids about Money with Guest Will Rainey
• Tulett, Matthews & Associates

Thanks for Listening!

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What role do expectations and consumer culture play in shaping our financial well-being? How can we make smarter, long-term decisions that align with a meaningful life rather than short-term gratification? What lessons can we draw from those who’ve found financial independence through simplicity and intentionality? These are just a few of the powerful questions explored in today’s episode.

Marcelo Taboada sits down with acclaimed La Presse journalist Nicolas Bérubé to explore the deeper intersection between money, happiness, and our daily decisions. They examine popular topics from Nicolas’ widely read weekly financial columns, challenging us to think critically about how we spend, save, and define success.

This episode offers grounded wisdom for both younger listeners and seasoned professionals, covering everything from car buying habits and Uber Eats culture to the importance of gratefulness and long-term planning.

Thank you for tuning in!

● Introduction and guest background on Nicolas Bérubé (0:00)

● Nicolas’ early journey into journalism and passion for financial writing (3:50)

● The clarity and communication style that sets Nicolas apart (7:41)

● The origins and purpose of his column “L’argent et le bonheur” (11:32)

● How Canadians are reacting economically and emotionally to the US political climate (15:23)

● Choosing Canadian goods and reflecting on local economic impacts (19:14)

● On gratitude, health, and redefining wealth (23:05)

● The paradox of modern abundance and mental health struggles (26:56)

● Uber Eats, luxury spending, and opportunity cost in everyday life (30:47)

● Personal finance through the lens of real choices and trade-offs (34:38)

● Hedonic vs. eudemonic happiness and the pull of social media (38:29)

● What today’s habits reveal about future financial independence (42:20)

● Creating a meaningful life through intentional daily actions (46:11)

● Lifestyle inflation, children’s expenses, and thoughtful consumption (50:02)

● The power of compound interest and long-term financial vision (53:53)

And much more!

Mentioned in this Episode:

• From Zero to Millionaire by Nicolas Bérubé
• Les millionnaires ne sont pas ceux que vous croyez by Nicolas Bérubé
• La Joie et le Bonheur by Nicolas Bérubé
• Podcast: Maximizing Life Satisfaction and Happiness with Author Andrew Hallam
• Millionaire Teacher by Andrew Hallam
• Tulett, Matthews & Associates

Thanks for Listening!

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Join us as we celebrate 100 years of mutual fund history, reflecting on how they've helped shape investor access to the markets.

Keith and Marcelo discuss the journey of mutual funds (MF) from a niche product created in 1924 to a mainstay in the investment world, examining both the benefits and challenges they present for today's investors.

They highlight mutual funds' ability to provide diversified exposure to various markets, easy access to foreign investments, and convenience in buying and selling shares.

They also tackle the downsides of mutual funds head-on: high fees, lack of transparency, and sales-driven practices from big banks and others that plague the industry. Despite the availability of lower-cost alternatives like ETFs and other low fee MFs, Canadians continue to be pulled to high-fee MFs. Why?

Keith and Marcelo remain optimistic about the future, pointing to an increasing availability of low-fee investment options and the growing demand for independent, evidence-based financial advice.

Explore the pivotal moments in mutual fund history and gain insights into how understanding this history can benefit your investment strategy today.

Thank you for tuning in!

Key Topics:

● The historical significance and impact of mutual funds on investing (00:39)

● Overview of mutual fund benefits, including diversification and accessibility (01:15)

● Mutual funds' role in the democratization of financial markets (03:22)

● High fees associated with Canadian mutual funds and transparency issues (05:15)

● Evolution of mutual funds and the introduction of ETFs (07:30)

● The shift from defined benefit pensions to defined contributions (09:45)

● Canadian vs. U.S. investment trends in mutual funds and ETFs (11:05)

● Discussion on mutual fund fee structures in Canada (13:18)

● The changing landscape of investing and the rise of passive strategies (15:30)

● Long-term trends and future for mutual funds (18:25)

● Summary of key takeaways and the importance of informed investing (20:40)

● Adoption of Vanguard's ETF Portfolio and Shift Towards Passive Investing in Canada (22:18)

And so much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

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Are you wondering how the proposed 2024 Federal Budget changes might affect your investments? Curious about the implications of the increased capital gains inclusion rates? Want to know the key considerations for financial planning in light of these changes? Today's episode dives deep into these questions and more.

Today, Keith is joined by Gerry Theus, a seasoned tax expert, to explore the nuances of the proposed capital gains inclusion rate increases. They will discuss the transition from the old rate to the new, highlight the direct impacts on various investment structures, and unravel strategies to optimize financial outcomes under these new regulations.

This episode is crucial for anyone looking to understand and navigate the new tax laws effectively.

Thank you for tuning in!

Key Topics:

● Gerry's background in tax law (02:29)

● Which types of investment structures are impacted by capital gains taxes (04:52)

● Assets that are exempt from capital gains taxes and clarifying common misconceptions (07:21)

● Assets that are typically subject to capital gains taxes upon appreciation (09:38)

● Tax bands and implications for individuals (12:26)

● Triggering gains before law changes (14:48)

● Strategies for dealing with capital gains from real estate (17:24)

● Advantages of being able to sell parts of a portfolio to manage potential capital gains tax liabilities (19:46)

● Future considerations for entrepreneurs holding commercial property (24:31)

● Capital gains adjustments for entrepreneurs (26:53)

● Updates on the the Lifetime Capital Gain Exemption (LCGE) increases (29:14)

● Update of the new Canadian Entrepreneurs Incentive program (31:41)

Mentioned in this Episode:

• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

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Wondering how you can simplify your investment strategy without sacrificing returns? How does a straightforward approach to investing lead to financial security? Discover the answers in this episode as we discuss the principles of index investing and the power of keeping it simple.

Keith Matthews is joined by Nicolas Bérubé, an award-winning financial journalist and author (of From Zero to Millionaire), to explore the benefits of a stress-free investment strategy. Nicolas shares his journey from being a curious reporter during the financial crisis to becoming a proponent of index investing, highlighting the importance of understanding market behavior and the futility of trying to predict the future.

We dissect common misconceptions about active and passive investing, why aiming for average returns is a pathway to exceptional long-term success, and how maintaining discipline in your investment strategy can lead to financial empowerment.

Thank you for tuning in!

Key Topics:

● Introduction to Nicolas Bérubé and his journey in financial journalism (00:39)

● Impact of the 2008 financial crisis on investment perspectives (03:20)

● Misconceptions about stock market investing and the reality of index funds (05:56)

● The significance of behavior in investment success (13:02)

● Importance of starting early in investing and the concept of compounding (20:50)

● Debunking the myths around index investing and market timing (27:14)

● Discussion on the downside protection in index funds (34:07)

● Nicolas Bérubé's investment philosophy and his view on being a 'lazy investor' (38:22)

● Future of index investing in Canada and globally (43:00)

● The early adoption of exchange-traded funds (ETFs) and the gradual recognition of their benefits in the investment community (44:57)

● Why active management often underperforms index funds, even in volatility(49:13)

And much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates
• Nicolas Bérubé’s book, "From Zero to Millionaire"
• La Presse

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more! Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

Have you ever wondered what happens to your tax obligations when you leave Canada to become a non-resident? What about the complexities of owning property in Canada while living abroad? Are you aware of the intricate tax implications involved in these scenarios?

In today’s episode, Marcelo Taboada speaks with Julie Cote from Chaise Bleu. With her extensive experience in taxation and specializing in non-resident Canadians owning property in Canada, Julie sheds light on the often misunderstood and overlooked aspects of taxation for non-residents. This episode is a deep dive into non-residency status, property ownership, and the critical tax considerations that come with these situations.

Join us as we unravel the complexities of non-residency and property ownership from a taxation perspective. This episode is not just for those directly affected but also serves as a knowledge reservoir for anyone who might know someone in such circumstances. Tune in to equip yourself with essential insights and strategies for efficient tax planning and compliance.

This podcast episode with Julie Cote was recorded on Nov 11th, 2023. Since then, have been two important changes.

1 - The minimum late filing penalty for the Underused House Tax UHT has been reduced:

• To $1,000 for individuals (previously $5,000 as mentioned in the podcast)
• To $2,000 for corporations (previously $10,000 as mentioned in the podcast)

2 - The Ban on foreign Buyers has been extended by two years to January 1st, 2027.

Key Topics:

• Understanding non-resident status and tax implications (8:00)
• Myths and facts about property ownership as a non-resident (15:30)
• strategies for non-residents planning to return to Canada (25:01)
• The impact of foreign buyers on the Canadian property market (30:53)
• Demystifying the underused housing tax (34:49)
• And much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112. 

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

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Can you quantify the value of financial advice? How does an advisor enhance your investment returns? What role does behavioral coaching play in your financial success? Dive into these compelling questions in our latest episode of The Empowered Investor. Join us as we explore the intricate relationship between financial advice and investment success, featuring the insightful expertise of Emile Bouchard from Vanguard.

In this episode, we delve deep into Vanguard's groundbreaking research on the value of financial advice. Emile Bouchard, a seasoned professional in the financial services industry, shares his insights on how Vanguard's approach to evidence-based investing and low-cost strategies is reshaping the industry. We dissect the critical components contributing to the value added by financial advisors, including portfolio construction, behavioral coaching, and holistic wealth management.

Wrapping up, we reflect on the evolving landscape of financial advice in the age of AI and robo-advisors. Discover why the human element in financial planning remains irreplaceable, fostering trust, understanding, and customized strategies that align with your unique life events and goals.

Thank you for tuning in!

Key Topics:

• Emile's background and role at Vanguard (1:37)
• Overview of Vanguard's research on the value of advice (3:11)
• Importance of asset allocation and portfolio construction (11:49)
• Emphasis on low-cost investments and their benefits (17:38)
• Holistic wealth management and its impact (22:09)
• The critical role of behavioral coaching (25:07)
• Discussion on AI, robo advisors, and the future of financial advice (34:55)

Mentioned in this Episode:

• Tulett, Matthews & Associates
• Vanguard

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

How did the key financial events of 2023 shape the investment landscape? What lessons can investors take from these developments as we move into 2024? Join us in this episode as we delve into these questions and more.

Keith Matthews and Lawrence Greenberg offer a comprehensive analysis of 2023, highlighting the performance of different asset classes, the role of major tech firms, and the impact of inflation and central bank policies. They discuss strategies for navigating the markets and how to avoid common investment mistakes, providing valuable insights for investors

Thanks for joining us on this journey through the past year and into the future. We hope these insights will guide your investment decisions in 2024.

Thank you for tuning in!

Key Topics:

• Discussion on 2023 asset class returns (1:41)
• Analysis of the 60/40 portfolio performance (2:29)
• Impact of the Magnificent Seven tech firms on the market (4:53)
• Style factors in the stock market (8:19)
• Major economic and stock market themes of the year, including rates and inflation (9:16)
• Interest rate policy and its effects (11:21)
• Possibility of a soft landing or a recession? (14:05)
• Canada's economic growth and TSX returns (14:43)
• Discussion on stock pricing and recession expectations (16:13)
• Analysis of Federal Reserve rate cuts (17:08)
• Long-term investing perspectives (18:20)
• Bond yields and investor positioning (19:03)
• Enthusiasm around artificial intelligence and its market impact (22:37)
• Importance of avoiding errors and pitfalls in investing (23:50)
• And much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

Are we learning from history or repeating the same patterns in different contexts? How does understanding human behavior enhance our investment strategies? Can the past unlock secrets for future financial success? In this episode, hosts Marcelo Taboada and Jackson Matthews engage in an insightful book review of Morgan Housel's latest work, 'Same as Ever.' This episode not only delves into the book's key themes but also connects these ideas to practical investment strategies and financial planning.

Morgan Housel, in 'Same as Ever,' explores the repetitive nature of human behavior through various historical lenses, emphasizing that while contexts may change, core human traits like fear, love, power, greed, and envy remain constant. Marcelo and Jackson analyze these themes, primarily focusing on how they relate to investors' decisions and the financial world.

The discussion pivots to lessons for investors, emphasizing the importance of managing expectations, understanding the role of envy in financial decisions, and the necessity of adopting a long-term perspective in investment strategies. The episode ends with a reflection on the core principles of Tulett, Matthews & Associates, reiterating their commitment to client-centric services, evidence-based investment philosophy, playing the long game, and diversification.

Thank you for tuning in!

Key Topics:

• Introduction and overview of 'Same as Ever' (01:10)
• The role of envy in financial decisions and its historical context (3:45)
• Managing expectations: the key to economic and personal well-being (11:00)
• The importance of a long-term perspective in investment strategies (17:30)
• Diversification and evidence-based investing as core principles (28:00)

Mentioned in this Episode:

• Same as Ever: A Guide to What Never Changes by Morgan Housel
• The Psychology of Money by Morgan Housel
• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and

Curious about what a "soft landing" in the economy means? Is the United States on the brink of achieving one amidst current economic challenges? Interested in how such a scenario could affect your investment portfolio?

In today’s episode, we dissect the elusive concept of a "soft landing" economically, analyzing the potential for such an outcome in the current U.S. economy. Keith and Marcelo guide you through the implications for investors, discussing historical examples and recent market dynamics. They will share strategies to manage your investments in these uncertain times, emphasizing the vital role of diversification and maintaining a consistent investment philosophy.

Join us as we navigate the intricate cycles of the economy and unveil actionable strategies for you. This episode promises to enhance your understanding of economic fluctuations and how to embrace a consistent investment approach. Tune in now for a deep dive into economic resilience and investor empowerment.

Thank you for tuning in!

Key Topics:

• Analyzing the dynamics of economic "soft landing" and "hard landing" (1:30)
• Comparing economic trends in the U.S. and Canada (8:39)
• Historical precedence of soft landings amid high inflation (10:05)
• The role of diversification for long-term financial stability (13:16)
• And much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

In this episode, we dissect the intricate world of dividend investing, breaking down common assumptions and exploring its role within a well-rounded investment strategy.

We'll delve into the impact of dividend reinvestment on total returns, the tax advantages of controlling distributions, and the importance of not relying solely on dividend paying stocks for diversification. Our discussion will shed light on the psychological allure of dividends during market volatility and why a broader perspective that includes capital appreciation is crucial for wealth growth.

Join Lawrence and Keith as they navigate the complexities of dividends, offering insights that challenge the status quo and empower you as an investor.

Key Topics:

• Understanding the pros and cons of prioritizing dividend-paying stocks (1:05)
• Examining the impact of dividend distribution on stock market prices (5:33)
• Comparing tax treatments for dividend income versus capital gains (10:24)
• Debunking the myth that all stocks offer similar appreciation rates (11:11)
• Clarifying that dividends are an integral component of total investment returns (13:16)
• The long-term effects of not reinvesting dividends on investment growth (17:10)
• Addressing the misconception that dividend payouts are always reliable (19:54)
• Analyzing how dividend-centric ETFs fare when interest rates rise (23:33)
• The pitfalls of dividend investing strategies, including tax inefficiencies (25:29)
• And much more!

Thank you for listening!

Mentioned in this Episode:

• Tulett, Matthews & Associates

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

 Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

In this episode, we continue our in-depth look at international diversification strategies for Canadians. Building on last week’s conversation, today we ask the burning question: How much should you invest in different global markets - US, International or Emerging Markets? We dive into the nuances of valuations and expected returns adding clarity and confidence in global diversified portfolios.

Learn why Canadians should rethink their home bias in investing, especially when our national market constitutes just 3% of the global stock market. We also revisit Vanguard's recommendation that 70% of your equity holdings should be invested outside of Canada. Discover the critical interplay between valuations and historical returns, helping you understand and embrace an investment strategy that is truly global and diversified.

Join Keith and Marcelo as they guide you through the maze of international investing backed by the latest research and expert opinions.

Thank you for tuning in!

Key Topics:

• Why Canadians should explore international investing strategies for global market allocations (1:12)
• How the AQR report impacts views on the U.S. versus international stocks (4:12)
• Why international stocks may offer growth with lower PE ratios (7:46)
• Examining decade by decade the differences in performance of U.S. and international markets (11:15)
• Why diversification protects long-term returns despite short-term market volatility (13:54)
• The ease and affordability of international investing for Canadians (18:56)
• And much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates
• Vanguard

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

What sparked the most dramatic stock market volatility in recent memory? Why did tariffs suddenly become the centerpiece of U.S. economic policy? How should investors respond when uncertainty hits at lightning speed? We explore all of this—and more—in today’s deep dive on market turmoil triggered by Trump’s sweeping tariff announcements.

Keith Matthews and Marcelo Taboada break down the global shockwave of “Liberation Day,” explain how markets and investors reacted, and offer critical lessons on staying invested when storms hit. From VIX surges to record—setting daily returns, they connect the dots between policy, volatility, and long-term perspective.

If you’ve ever felt anxious during a market correction - or wondered if “this time is different”—this episode will guide you through the recent market turbulence with evidence-based insight and calm.

Thank you for tuning in!

● Today's show focuses on recent market volatility and U.S. tariff policy (0:55)

● Marcelo introduces the geopolitical backdrop and tariff volatility (1:34)

● Liberation Day and Trump’s tariff announcement explained (2:56)

● Historical impact and global scale of the tariffs (3:30)

● VIX and other measures of market fear during this period (3:48)

● S&P 500 drops 10% in two days after Liberation Day (4:13)

● Market expectations before the announcement were wrong (4:59)

● Global reach and economic shock of the announced tariffs (5:20)

● Canada, EU, Japan, China: Who was affected and how (5:38)

● VIX compared to past crises like COVID and 2008 (6:06)

● How the bond market reacted and its deeper message (6:33)

● Reversal of tariffs and a 90-day pause sparks 9.5% S&P rebound (7:55)

● Lessons on timing the market and importance of staying invested (16:58)

● Performance failures of tactical asset allocation strategies (19:13)

● How markets recover after recessions and bear markets (24:03)

● Evidence-based investment philosophy and long-term planning (28:22)

And much more!

Mentioned in this Episode:

• Dimensional Report: Navigating Market Volatility
• TMA Report: Shifting Allocations is the Wrong Strategy
• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. Feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

Follow Tulett, Matthews & Associates on social media: LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and

In today's episode, we highlight the benefits of global diversification for Canadian investors. We highlight actionable strategies for Canadians looking to invest outside their home turf, making the once-challenging access to US and international markets more straightforward and affordable.

We start by reviewing the groundbreaking work by Henry Markowitz on modern portfolio theory, illuminating how diversification can help you gain better returns with less volatility. We discuss the Canadian investor tendency towards home bias in investments and discuss the merits of looking beyond national borders.

Wrapping up the episode, we point to a recent Vanguard report that outlines the ideal equity allocation for Canadian investors.

Join your hosts Keith & Marcelo as they guide you through this intricate yet vital topic, helping you craft a global investment strategy that's well-rounded and research based.

Key Topics:

• Why Canadian investors should consider global diversification for better returns (1:46)
• How diversification enhances returns while reducing risk (5:47)
• Exploring the home bias among Canadians and its effect on their portfolios (13:13)
• Global investors favor home markets; Americans least biased, Australians and Canadians most biased (16:48)
• Assessing concentration risks in the Canadian equity market (20:41)
• Analyzing Vanguard Report's endorsement for global diversification in Canadian portfolios  (22:54)
• Review of Vanguard's recommended global allocation for Canadian investors: 30% Canadian equity, 70% international (US, EAFE & Emerging Markets)
• Why it’s easier than ever for Canadians to build globally diversified portfolios (26:53)

Mentioned in this Episode:

• Tulett, Matthews & Associates
• Vanguard

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

Behavioural Biases and Investment Decisions

Have you ever found yourself blindly following the crowd, even when deep down you knew it wasn’t the right decision? Have you ever wondered if the way your brain thinks is tricking you and influencing your investment choices, sometimes leading you astray?

In this episode, we delve into the fascinating world of behavioral biases and their profound impact on investment decisions. Join us on a thought-provoking journey as we explore the hidden survival instincts that drive our actions, often without us even realizing it. Discover why humans may not be naturally wired to make rational decisions when it comes to navigating our financial path.

We shed light on concepts like herding behavior, the pitfalls of overconfidence, and the dangers of confirmation bias and more. Throughout our exploration, we weave in real-world examples to provide you with a comprehensive understanding of human behavior and its significant role in investment choices.

Join hosts Marcelo Taboada and Lawrence Greenberg as they share practical strategies to counteract these ingrained biases and foster decision-making processes that are both rational and aligned with your financial aspirations.

Thank you for tuning in!

Mitigating Investment Biases:

• Exploring the role of behavioural biases in investment choices (1:47)
• Uncovering the evolutionary roots of behavioural biases in investing (4:42)
• Overconfidence in investing leads to risky behaviour; humility and process can mitigate it (9:42)
• Avoid confirmation bias in investing by conducting diligent research and considering opposing views (13:26)
• Stick to your investment philosophy to avoid hype and bubble-like securities (16:11)
• People tend to treat money they receive differently and should view it holistically (20:25)
• How advisors act as emotional anchors, guiding clients away from costly investment errors influenced by biases (26:37)
• And much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

Improves decision making for all investors.

Have you ever wondered whether your financial decisions align with your future goals? Do our emotions play a pivotal role in shaping our financial choices, and influencing our long-term outcomes?

Join your hosts Marcelo Taboada, Lawrence Greenberg, and Jackson Matthews as they discuss takeaways from Morgan Housel’s book, Psychology of Money. It’s an incredible personal finance book filled with great concepts and stories that can help improve decision making for all investors.

Thank you for tuning in!

Key Topics:

• "Psychology of Money" by Morgan Housel: Surprising, impactful, and relatable financial insights through storytelling (1:32)
• Emotions' role in investing, pitfalls, and examples (3:00)
• How a Janitor Became a Millionaire by Saving and Investing (5:14)
• Balancing rationality and personal comfort in financial decision-making (8:43)
• Smart doesn't guarantee right decisions. Behavior matters more than knowledge (12:12)
• Compounding's power lies in exponential growth over time (14:22)
• Social comparison drives spending, but wealth is often what you don't see (18:14)
• Healthy financial habits: Pay yourself first, develop an investment philosophy, tune out noise (20:56)
• Media understands psychology, but lacks understanding of individuals (27:41)

Mentioned in this Episode:

• Tulett, Matthews & Associates
• The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness - Morgan Housel

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

Lifestyle creep—a subtle increase in expenses as income grows—can have a substantial impact on your financial future. It is a subtle yet powerful force that can silently erode your retirement plans. Ignoring this phenomenon can have serious consequences, potentially downgrading your anticipated lifestyle and derailing your wealth-building goals.

Recognizing the importance of aligning yourself with the right financial influences can be a game-changer in successful retirement planning.

Join Keith and Marcelo as they dive deep into effective strategies that will help you circumvent the lifestyle creep trap. They’ll shed light on how this pervasive trend affects retirement planning and equip you with the knowledge you need to safeguard your financial well-being. Empower yourself with this invaluable information and set yourself up for a successful future.

Thank you for tuning in and taking control of your financial destiny!

Key Topics:

• Lifestyle creep: identifying it, avoiding it, and problems that can arise (0:50)
• The importance of matching retirement savings to lifestyle expenses (5:28)
• Avoiding lifestyle creep by budgeting, planning, establishing shared values (12:27)
• The growing perception that home ownership is unattainable (15:30)
• Feel rich by associating with frugal friends who have similar financial goals (15:36)
• And much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates
• Keith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

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Today, we delve into the art of crafting a rewarding retirement with Susan Hogan, an expert coach specializing in the non-financial aspects of retirement.

Susan staunchly believes retirement has the potential to be the happiest phase of one's life, leading her to develop her coaching program, Inspired Retirement, to help retirees uncover their unique paths to a gratifying and purposeful retirement.

Inspired Retirement demystifies non-financial retirement planning, offering invaluable insights and support for those on the cusp of retirement and recent retirees alike. It's here that individuals learn to navigate the physical, mental, social, and emotional facets of retirement and create their personalized, non-financial retirement blueprint.

Join us on this enlightening episode where we cover retirement preparation, dementia prevention, lifestyle transformation, the empowering journey to self-discovery in retirement, and so much more!

Thank you for listening!

Key Topics:

• Evolution of retirement from a short period of rest to a longer phase of life
• Identifying post-retirement goals and making the most of this phase
• The impact of alcohol and substance abuse in retirement
• Introduction to Susan’s coaching program, Inspired Retirement
• Dr. Richard Leiter's happiness curve
• The importance of pre-retirement preparation
• Dementia is retirees' greatest fear
• The challenges retirees face when work is taken away and the loss of structure and purpose
• Retirees not finding retirement fulfilling
• The potential risks and challenges of the retirement transition
• The importance of a growth mindset in fighting the natural decay of aging
• Inspired retirement GPS: Good Health, Passion and Purpose, and Social Network
• Phases of retirement: anticipation, honeymoon, disenchantment, stability
• And much more!

Mentioned in this Episode:

• Tulett, Matthews & Associates
• Keith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios
• Inspired Retirement
• The Retirement Quotient

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

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Mid-year review - inflation down, resilient economy, stocks up: As of now, recession concerns haven't materialized as many had predicted six months to one year ago. In 2023, portfolios are positive so far, with most asset classes having + ytd returns including; bonds, Canadian, US and international stocks. The development and growing influence of artificial intelligence is capturing investors' imaginations, and creating investor enthusiasm.

In this episode Marcelo and Keith discuss ytd investment observations that include; why investors should stay clear of investment narratives, why investors should continue investing on a global basis, the performance of growth versus value stocks, investor benefits of opening economies, and the challenges and opportunities posed by higher interest rates.

Thank you for listening!

Key Topics:

• The economy’s continued resilience and growth (3:31)
• How Chat GPT managed to generate stunning, effortless poetry (7:08)
• Why diversification remains crucial despite recent outsized growth by a few companies (9:31)
• Ups and downs in the battle between growth and value (13:13) 
• Why you should be cautious trying to use any narratives to predict market performance (15:36) 
• How global diversification protects against long-term underperformance of one particular region(20:54)
• Diversifying and sticking to your plan to produce better returns while reducing stress (24:33) 

Mentioned in this Episode:

• Chat GPT
• Tulett, Matthews & Associates
• Keith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

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Many Canadian retirees homeowners are home equity-rich but investment-light.

Whether it’s to fund their 20 to 30 years retirement or simply to access money for a project without a monthly repayment obligation, a reverse mortgage can offer an opportunity to unlock that home equity and provide much-needed cash flow. 

Today we’re joined by experienced independent mortgage broker Morgan Englebretsen to talk about the ins and outs of reverse mortgages and what Canadian homeowners need to know to make an informed decision.

In this episode, Morgan and Keith talk about the ideal candidates for a reverse mortgage, current reverse mortgage trends, which institutions issue reverse mortgages, the rules and costs around the reverse mortgages, how they are repaid, alternatives to reverse mortgages, and so much more!

Thank you for listening!

Key Topics:

• What is a reverse mortgage? (1:18)
• Why this is an important topic for Canadians right now (2:56)
• How a reverse mortgage works (5:04)
• The people who can benefit most from a reverse mortgage (6:13)
• Strategic users of reverse mortgages (9:50)
• Reverse mortgage eligibility criteria (11:23)
• How much of your home equity you can access through a reverse mortgage (12:27)
• The institutions that facilitate reverse mortgages (14:54)
• How many people are accessing reverse mortgages (15:46)
• The reverse mortgage application process (17:12)
• How an independent mortgage broker can help you with a reverse mortgage (19:11)
• Current interest rates for reverse mortgages (21:35)
• What you need to know about repayment options (22:45)
• Alternatives to a reverse mortgage (24:12)
• Pros and cons of reverse mortgages (26:21)
• And much more!

Mentioned in this Episode:

• Morgan Englebretsen on Instagram
• Morgan Englebretsen on TikTok
• Mortgage Architects Website
• The Empowered Investor | Episode 74: Navigating mortgages and high interest rates with specialist Morgan Englebretsen
• CHIP Reverse Mortgage
• Equitable Bank Reverse Mortgage
• Tulett, Matthews & Associates
• Keith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

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With so much of our lives online, are you aware of the risks you face?

Despite only 5-10% of people reporting fraud, the Canadian Anti-Fraud Centre received fraud and cybercrime reports totaling a staggering $530 million in victim losses in 2021. From phishing scams to ransomware and identity theft, the responsibility ends up on us as individuals to ensure we protect ourselves from cyberattacks as far as possible.

Today Marcello is joined by cybersecurity expert James Fournier to talk about protecting yourself against cyber threats and what to do if you fall victim. James has been in the industry for over 20 years, and he’s seen it evolve and the different trends that crop up over time. As a technology expert, he has an emphasis on cybersecurity, and he’s a wealth of knowledge in the field. 

In this episode, James and Marcello discuss what cybersecurity really means, the foundations everyone should have to protect themselves, online security's do's and don'ts, why you need to use two-factor authentication and password managers, red flags to avoid, and so much more!

James has been instrumental in training us at TMA on what to be aware of what to do and what not to do, and we think you’ll learn a lot from what he has to share.

Thank you for listening!

Key Topics:

• Why every Canadian needs to educate themselves on cybersecurity (2:06)
• Scary statistics on the prevalence of fraud and cybercrime in Canada (4:17)
• James’ background and journey into the IT industry (6:01)
• Our approach to cybersecurity at TMA (8:08)
• What is cybersecurity? (9:35)
• The most common cybersecurity pitfalls (11:53)
• Red flags that can signal a phishing attack (14:54)
• Different types of cyber attacks that can impact investors (18:31)
• Why preventative systems are crucial (24:07)
• Steps to take if you think you’ve been scammed (26:32)
• How two-factor authentication (2FA) works and why you need it (29:18)
• Why James recommends using a password manager (31:16)
• How to think about using antivirus software (36:32)
• Why training yourself on the potential risks and best practices is essential (39:36)
• And much more!

Mentioned in this Episode:

• James Fournier’s Website | JFITS.ca
• Tulett, Matthews & Associates
• Keith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

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Canada's housing affordability crisis has put the purchase of a home out of reach for many young aspiring homeowners. The government created the first home savings account (FHSA) in response.

An FHSA is a vehicle people can use to save for purchasing their first home while receiving a tax deduction on contributions. The money grows tax-free, and you can use it to buy a house without needing to refund the account; unlike the RRSP's Home Buyers' Plan.

Keith and Marcelo first spoke about the FHSA when it was announced in June 2022, and today they're coming back with more answers as we head towards the account's rollout. In this episode, Marcelo and Keith talk about what exactly an FHSA is, how it works, who benefits from using them, how it may impact the housing crisis, and so much more!

Thank you for listening!

Key Topics:

• The purpose of the first home savings account (FHSA) (3:05)
• Young Canadians’ attitudes toward homeownership (3:53)
• How the FHSA works (5:38)
• Parameters for using an FHSA (7:04)
• The main benefit of using an FHSA (8:24)
• How the FHSA works alongside a Home Buyers' Plan (HBP) (9:33)
• Implications of choosing not to buy a home (11:53)
• The main difference between the FHSA and the HBP (13:52)
• Primary beneficiaries of the FHSA (15:14)
• Rising criticisms of the FSHA (17:00)
• Advice for young investors (19:28)
• And much more!

Mentioned in this Episode:

• The Empowered Investor | Episode 56: Tax-Free First Home Savings Account (FHSA)
• Tulett, Matthews & Associates
• Keith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

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Will I have enough money to retire comfortably? Am I on track? Should I be saving more? These are the types of questions clients bring to us daily. We turn to financial planning and modelling into the future using expected returns to answer them.

Expected returns estimate the average return that an investment or portfolio should generate over time. Being able to create realistic projections requires starting with appropriately developed expected returns.

In this episode, Marcelo and Keith talk about how investors and advisors should use expected returns, what you need to know about how they’re determined, why they’re essential for retirement projections, the organizations that create expected returns, and so much more!

Key Topics:

• What are expected returns? (3:17)
• The relationship between valuations and expected returns (4:33)
• How financial advisors use the Projection Assumption Guidelines from FP Canada™ and the IQPF (6:35)
• Expected returns for different asset classes according to the 2023 Projection Assumption Guidelines (8:09)
• What the reports from firms like Vanguard say bout expected returns (9:52)
• How we use expected returns in financial planning (11:20)
• A side-by-side comparison of current returns and historical returns (14:11)
• Real returns of stocks over the last 120 years (16:37)
• What you can do to improve the odds of a successful planning and investment experience (21:21)
• How management fees have changed over time (23:20)
• Why we’re optimistic about the future (27:10)
• And much more!

Mentioned in this Episode:

• 2023 Projection Assumption Guidelines
• Elroy Dimson, Paul Marsh & Mike Staunton’s Book | Triumph of the Optimists: 101 Years of Global Investment Returns
• Tulett, Matthews & Associates
• Keith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

Are you ready for tax season? Do you know the key deadlines and the essential documents you need to file your 2024 tax return? Have you explored all the deductions and tax relief options available to you?

In this episode, Keith Matthews and Andrea LeRoyer guide you through a structured approach to preparing your taxes efficiently. From crucial deadlines to tax-saving opportunities, they cover everything you need to stay compliant and optimize your return. They also discuss major changes for the 2024 tax season, including updates on the capital gains inclusion rate, home flipping rules, and the latest home buyer plan withdrawal limits.

Whether you’re a salaried employee, self-employed, a retiree, or a parent, this episode provides a simple and practical framework to handle your taxes effectively. Don't miss this essential conversation to help you file your 2024 return with confidence!

Thank you for tuning in!

• Overview of the 2024 tax season (0:39)
• Introducing co-host Andrea LeRoyer and her background in tax and finance (1:47)
• Five key points covered in this episode (2:02)
• April 30: General filing deadline (3:21)
• June 16: Self-employed individuals’ deadline (4:19)
• Income slips (T4, T4A, T3, T5, etc.) (4:50)
• Notice of Assessment: Why it matters (5:35)
• Installment payment summaries (6:58)
• Childcare and activity credits (8:42)
• Tuition and education-related deductions (9:43)
• Medical expenses and insurance coverage (11:01)
• Charitable donation changes and extended deadline (13:36)
• Home office deductions: Employees vs. self-employed (14:28)
• Tax credits for home support services (16:45)
• Caregiver tax credits (17:19)
• Multigenerational renovation tax credit (17:44)
• Disability tax credit and eligibility (20:08)
• Changes in relationship status (22:09)
• Moving, renting, or selling property (23:02)
• Foreign asset ownership and T1135 requirements (24:03)
• Capital gains inclusion rate update (25:48)
• Short-term rental compliance rules (26:47)
• Home Buyers’ Plan withdrawal increase (27:57)
• New tax rules for property flipping (29:10)
• Crypto asset reporting for Quebec residents (30:26)
• Alternative Minimum Tax (AMT) updates (31:26)
• Final tax season tips & best practices (32:20)
• Closing thoughts & embracing tax season (32:51)

And much more!

• Tulett, Matthews & Associates

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. Feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.

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Whether you're a first-time home buyer or a seasoned real estate investor, understanding the intricacies of mortgages is a game-changer in your financial journey. Navigating the mortgage journey can be an intimidating experience, and mistakes can have long-lasting consequences. 

With many potential pitfalls, confusing jargon, and seemingly endless options, proper guidance throughout the mortgage process is invaluable. Today we’re joined by experienced independent mortgage broker Morgan Englebretsen to break down the ins and outs of mortgages, ensuring that you have the knowledge you need to make informed decisions.

In this episode, Morgan and Marcelo discuss how to get ready for the mortgage process, strategies you can use to save money, why it’s sometimes worth it to get a higher interest rate, how to decide how much of a deposit to make, the benefits of working with a mortgage broker, what to think about when deciding between lenders, the fixed and variable costs of buying a property,

Morgan’s advice for a first-time home buyer and so much more!

Thank you for listening!

Key Topics:

• Why it’s valuable to get an independent perspective on mortgages (1:25)
• How Morgan moved from automotive financing to home financing (4:12)
• Growing up in a rational environment with both parents as academics (5:30)
• The behavioural aspect of financial decision-making (6:55)
• What does an independent mortgage broker do? (8:20)
• The primary benefits of working with an independent mortgage broker and a lender (10:10)
• How independent mortgage brokers can offer their services for free (12:01)
• The increasing number of Canadians using mortgage brokers (13:33)
• The hidden benefits of working with a mortgage broker (15:40)
• All lenders are not created equal (17:36)
• How to choose the best lender for you (21:50)
• The fixed and variable costs of buying a property (23:44)
• The biggest pain points for Canadian home buyers right now (27:46)
• Morgan’s advice for a first-time home buyer (31:42)
• The benefits of a holistic approach to your finances (34:42)
• How you can save yourself some money with your mortgage (39:42)
• What to do to get ready for taking a mortgage (44:45)
• Different ways to leverage the equity in your home (46:26)
• And much more!

Mentioned in this Episode:

• Morgan Englebretsen on Instagram
• Morgan Englebretsen on TikTok
• Call Morgan Englebretson: 514-923-6606
• Mortgage Architects Website
• Tulett, Matthews & Associates
• Keith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on

With Tax Day on the horizon, tax tips, tricks, and hacks are being shared more than ever. From making charitable donations to incorporating and running everything through a company, word on the street is that the wealthy use particular tax strategies to minimize the amount of tax they owe.

But while it might be tempting to try them, making the wrong decision about your taxes is an expensive mistake that can cost you many times more than what you would have paid initially.

To help make sure you’re on the right track, tax specialist Réginald Pierre-Louis is back for part two of our tax myth series. Réginald has more than ten years of practice in the field and has a great way of making complex taxation rules and legislation more understandable so you can make sure you’re filing accurately.

In this episode, Marcelo and Réginald talk about why it’s challenging to define a threshold for richness, how facts and feelings shape our perspective, what research shows about who pays the most taxes, and why many of the commonly shared “rich people” tax strategies might not be suitable for you.

Thank you for listening!

Key Topics:

• Why it’s so hard to come up with a definition of a rich person (1:37)
• How facts and feelings shape our perspective on wealth and poverty (7:25)
• People on both ends of the wealth spectrum are abusing the system (10:25)
• Surprising income statistics across Canada (12:35)
• Myth #1: The rich don’t pay taxes (16:33)
• Tax distribution across income levels (19:21)
• Myth #2: When wealthy people make charitable donations, they’re doing it because they’ll get it back on their tax return (22:00)
• Myth #3: I’ll create a company for myself like the rich do so I can get tax savings (26:18)
• Myth #4: I can include my personal expenses within my company (31:32)
• Myth #5: My corporation can pay a salary to my spouse and children, and since they have a lower tax rate, I’ll pay less in taxes (35:58)
• Myth #6: My company should own my home (37:07)
• Myth #7: I’m saving money in my business by paying cash and avoiding sales taxes (43:05)

Mentioned in this Episode:

• Réginald Pierre-Louis on LinkedIn
• Tulett, Matthews & Associates
• Keith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on