The Wealthy Barber Podcast – Détails, épisodes et analyse

The Wealthy Barber is back! Dave Chilton has spent over 35 years demystifying personal finance, offering understandable, unbiased, and actionable advice that has empowered millions of Canadians to achieve their financial goals. Now, he’s bringing that same wisdom to your favourite podcasting platforms, with regular episodes designed to make personal finance simple, relatable, and yes, even entertaining.

Welcome to the inaugural episode of The Wealthy Barber Podcast!

Our first guest is Preet Banerjee—one of the top financial educators in Canada, having been a regular for years on CBC's The National, renowned speaker and author of the bestselling book, “Stop Overthinking Your Money.” Recently, Preet completed a doctorate with his research focusing on the value of financial advice to Canadian households and how to improve the outcomes for the mass market. 

In this episode, we discuss what Preet learned from his research and all things Canadian personal finance, from RRSPs versus TFSAs, to active versus passive investing, to whether investing in Canadian rental real estate still makes sense, to who has the better hair and much, much more. You'll enjoy this discussion with Preet Banerjee, a great communicator and a truly great guy.

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The Wealthy Barber Podcast is Canada’s go-to source for approachable, entertaining, and free financial education. Hosted by none other than David Chilton—former Dragon on CBC’s ”Dragons’ Den” and the best-selling author of ”The Wealthy Barber” and ”The Wealthy Barber Returns”—this podcast is here to help Canadians manage their money better. Much better.

Find all episodes and more Canadian personal finance content at https://thewealthybarber.com.

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Show Notes:

(00:00:00) Introduction

(00:01:59) Preet’s Research

(00:06:16) Biggest Problem Young Canadians Face Today

(00:10:32) RRSP vs. TFSA

(00:13:06) FHSAs

(00:14:38) Active vs. Passive

(00:20:40) Men vs. Women Investing

(00:23:52) Inflation

(00:29:14) Who has better hair?

(00:29:47) Giving Advice to the Masses

(00:32:36) Group RRSP Matching

(00:34:58) Investing in Rental Real Estate in Canada

(00:37:41) Getting Help From Parents

(00:40:19) Emergency Funds

(00:43:08) Has the Pendulum Swung Too Far

(00:45:23) Other Personal Finance Creators

(00:48:02) An Experience That Changed Preet’s Perspective on Life

(00:51:35) Conclusion

Our guest this episode is Robin Taub—a financial educator focused on helping parents teach their kids to be responsible, independent and money-smart for life through her award winning book “The Wisest Investment” and public speaking engagements.

In this episode we discuss all things parents should know when teaching their kids about money, from allowances, to piggy banks, to how much kids should save, and much more. You'll enjoy this discussion with Robin Taub.

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The Wealthy Barber Podcast is Canada’s go-to source for approachable, entertaining, and free financial education. Hosted by none other than David Chilton—former Dragon on CBC’s ”Dragons’ Den” and the best-selling author of ”The Wealthy Barber” and ”The Wealthy Barber Returns”—this podcast is here to help Canadians manage their money better. Much better.

Find all episodes and more Canadian personal finance content at https://thewealthybarber.com.

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Show Notes:

(00:00:00) Introduction

(00:01:11) How Do You Teach Kids About Money?

(00:07:38) Allowances

(00:11:41) Robin's Book & Framework

(00:15:52) Teaching Kids About Investing 

(00:18:55) People Are Having Fewer Kids 

(00:20:00) Young People More Affected by Inflation 

(00:22:42) Piggy Banks 

(00:24:04) Spending in the Digital Era 

(00:26:01) "Cooling-Off" Periods

(00:27:25) How Much Kids Should Save

(00:28:59) Grandparents More Financially Involved Now 

(00:31:58) Biggest Money Mistakes Parents Make

(00:35:08) Money Stress is the Worst Stress

(00:37:14) The Importance of Sharing

(00:41:09) Dave & Robin's Kids 

(00:45:01) Other Resources for Parents

(00:47:08) Conclusion

Our guest this episode is Rob Carrick—one of the most well-known personal-finance experts in the country through his 30+ years as a financial writer and columnist for The Globe and Mail. 

In this episode Dave and Rob discuss how personal finance in Canada has changed over the last 35 years including how more parents are helping their adult-age children financially, how social media is increasing the pressure to spend, why FHSAs are the ultimate no-brainer and much, much more.

You'll enjoy this discussion with Rob Carrick.

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The Wealthy Barber Podcast is Canada’s go-to source for approachable, entertaining, and free financial education. Hosted by none other than David Chilton—former Dragon on CBC’s ”Dragons’ Den” and the best-selling author of ”The Wealthy Barber” and ”The Wealthy Barber Returns”—this podcast is here to help Canadians manage their money better. Much better.

Find all episodes and more Canadian personal finance content at https://thewealthybarber.com.

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Show Notes: (00:00:00) – Introduction (00:03:30) – It's More Expensive to Have Kids Today (00:06:01) – Pressure to Spend (00:07:24) – Crazy What People Spend on Cars (00:09:24) – Spending & Lines of Credit (00:12:27) – What Dave is Seeing From People's Spending Summaries (00:13:47) – It’s Financially Difficult to be Single (00:15:12) – Costs Are Rising for Seniors (00:19:06) – More Parents Are Helping Their Kids Financially (00:22:09) – People Need Help with Retirement Planning (00:27:05) – Fee-Only Financial Planning (00:31:19) – Divorce Rates Going Down (00:32:18) – People Are Having Fewer Kids (00:33:13) – Boomers Had It Easier (00:36:18) – Pensions Are Making a Comeback (00:38:18) – Counting on Inheritances (00:39:05) – Some Young People Are Giving Up (00:40:16) – Anyone Can Manage Their Money Well (00:41:24)  – Is Personal Finance Harder Today? (00:42:17) – Pets Are More Expensive Than You Expect (00:44:30) – You Have to Make Spending Tradeoffs (00:46:16) – You Feel Better When You’re On Top of Your Finances (00:48:44) – Debit vs. Credit Cards (00:50:54) – Should Couples Manage Their Money Together? (00:54:01) – FHSAs (00:55:08) – TFSAs (00:58:11) – The Problem with the Bank-Branch System in Canada (01:00:23) – FHSAs Are a No-Brainer (01:03:39)  – Why Hasn’t Canada Embraced Passive Investing Like the US? (01:05:38) – The Wrong Way to Use ETFs (01:08:26) – Men vs. Women Investing (01:12:19) – Why Don’t Canadians Use Mortgage Brokers? (01:14:08) – RRSPs are Still Great (01:16:48) – Conclusion

Our guest this episode is Jessica Moorhouse—a Canadian personal finance creator, host of the “More Money Podcast,” and soon-to-be-published author of the book “Everything but Money: The Hidden Barriers Between You and Financial Freedom.”

In this episode Dave and Jessica discuss how our emotions and past experiences affect our relationship with money including bad financial habits people learn from their parents, biases that get in our way, why the financial industry benefits from making it seem more complicated than it is and much, much more.

Don’t miss this engaging discussion with Jessica Moorhouse.

Show Notes 00:00 – Introduction 00:56 – Jessica's Background 03:21 – How Jessica's Podcast Started 05:51 – Jessica's Upcoming Book 11:43 – Bad Money Habits We Learn From Our Parents 15:34 – Money and Shame 17:18 – How to Take Control of Your Relationship with Money 19:07 – Status Quo Bias 22:15 – Anyone Can Learn to be Good With Money 24:33 – Overconfidence Bias in Young Men 27:02 – Women and Investing 29:02 – Emotions and Investing 31:51 – Index Investing & Fintech 33:51 – Focus on What You Can Control and Don't Give Up Hope 38:10 – Living in Toronto 40:37 – The Best Financial Educators Are Truly Trying to Help 43:55 – Happiness and Financial Planning 46:39 – COVID 49:18 – Where to Get Jessica’s Book

Our guest this episode is Ben Felix—Chief Investment Officer at PWL Capital and co-host of “The Rational Reminder” podcast. You might also know him from his popular YouTube channel where he creates meticulously researched videos on investing, financial decision-making and living a good life (although you may not recognize his stunning new hairstyle!).

In this episode Dave and Ben dive deeply into the world of investing. They cover everything from active versus passive styles to why CPP is a one-of-a-kind asset to why people underperform so badly in mutual funds and much, much more. 

This is a must-listen episode featuring two of Canada’s top financial educators.

Show Notes:

00:00:00 – Intro & Disclaimer

00:00:55 – Intro to Ben Felix

00:04:25 – Ben’s New Hair

00:05:50 – Why Is It So Difficult to Beat the Market?

00:08:02 – Why It's Hard for Active Managers to Consistently Outperform

00:11:42 – “Buy the Haystack” (Passive Investing)

00:13:55 – The Market is Forward Looking

00:17:45 – Why Dave & Ben Don't Listen to Market Forecasts

00:21:46 – Dave's Only Market-Timing Story (Gone Wrong)

00:25:22 – Performance Gaps for Individual vs. Fund Performance

00:29:55 – Lump Sum vs. Dollar-Cost Averaging

00:35:18 – Everyone's Risk Tolerance is Different

00:36:56 – Countries With High Economic Growth ≠ High Stock Returns

00:41:35 – Beware of High Growth Industries & Thematic ETFs

00:46:00 – The Difference Between Investment Planning & Financial Planning

00:51:20 – How Can Everyday Canadians Get Good Financial Advice?

00:55:44 – Trust is Key in Financial Planning

00:57:26 – Why a 2% Mutual Fund Fee Is So Costly

00:59:11 – Canadian Banks

01:01:19 – Keep it Simple! Complexity Underperforms

01:04:09 – Venture Capital

01:05:42 – Can the US Market Continue to Outperform?

01:13:36 – Robo-Advisors

01:17:44 – Would Ben Ever Be a Landlord?

01:20:00 – CPP – Four Reasons Why You Should Wait to Take It

01:26:11 – Conclusion

Our guest this episode is Barry Choi, the ultimate expert on all things credit card points and loyalty programs in Canada. You may also know him from his frequent TV appearances or his personal finance website www.moneywehave.com.

In this episode Dave asks Barry everything Canadians need to know about credit card points and loyalty programs including which programs offer the most lucrative sign-up bonuses, tips for how to maximize the value of your points, which card is best for travel and much, much more. 

This is a highly informative episode and you’ll be sure to take away a few valuable tips by listening.

Show Notes

00:00 – Intro & Disclaimer

00:56 – Intro to Barry Choi

03:02 – Loyalty Programs and Data

06:35 – Learn a Few Programs Inside Out

08:51 – Transferring Points to Increase Value

10:47 – Credit Card Points as an Employee Benefit

12:04 – Tips to Maximize Points

14:39 – How to Optimize Points for Travel

17:12 – Which Credit Card is Right for You

18:56 – Sign-Up Bonuses

22:16 – Dave’s Reservations About Credit Cards

25:32 – High-Income Canadians with Credit-Card Balances

28:01 – Barry’s Spending

30:02 – When Barry Took His Family to Hong Kong

34:09 – American Express

37:37 – Dave Doesn't Use Airport Lounges

38:26 – Non-Point Benefits

41:20 – The Lifecycle of a Fintech Company

42:25 – Consumerism & Stuff

45:49 – Donating Loyalty Points

46:58 – Fraud with Loyalty Points

48:37 – Conclusion

Our guest this episode is Richard Coffin—better known to many as "The Plain Bagel." Richard is a CFA and CFP professional working as a Portfolio Manager in Ottawa. He has nearly 1 million subscribers on his YouTube channel where he creates entertaining and educational videos on finance, investing and economics.

In this episode, Dave and Richard discuss the rise of "Finfluencers" in today’s social-media-driven world and explore the fascinating landscape of behavioural finance. They cover everything from the origins of “The Plain Bagel,” to the pros and cons of getting financial advice online, to the biases that affect us all and much, much more. 

Enjoy this fantastic episode featuring two of Canada’s top financial educators.

Show Notes

00:00:00 – Intro & Disclaimer

00:00:55 – Intro to Richard Coffin

00:03:28 – Origin of “The Plain Bagel”

00:08:13 – Richard’s Work & Educational Background

00:12:13 – The Rise of Finfluencers

00:16:34 –   The Laws Around Giving Financial Advice Online

00:20:14 –  How to Evaluate Online Financial Advice

00:21:24 – Trusting Finfluencers More than Wall Street

00:25:20 – The “Beginner” Finfluencer

00:28:58 – Investing Courses

00:38:42 – Trustworthy Canadian Finfluencers

00:44:41 – It’s Easy to Fake Wealth Online

00:47:57 –  YouTubers Being Paid to Promote Stocks

00:55:27 – Behavioural Finance & Loss Aversion

01:02:56 – Confirmation Bias

01:06:35 –  The Skills Behind Creating Content People Enjoy Watching

01:08:46 – Recency Bias

01:13:41 – Framing Bias

01:19:02 – Conclusion

Our guest this episode is Ron Butler—a 30-year veteran of the mortgage industry and owner of Butler Mortgage. Some of you may recognize Ron from his social media rants or his “Angry Mortgage Podcast” where he uses colourful language and profanity to express his opinions (and share his wisdom!) on the world of real estate and mortgages. 

In this episode, Dave and Ron discuss all things real estate including the pros/cons of using a mortgage broker, where they think interest rates are headed, whether people should use fixed- or variable-rate mortgages and much, much more. 

Enjoy this entertaining and insightful episode.

Show Notes

00:00 – Intro & Disclaimer

00:57 – Intro to Ron Butler

03:20 – Pros/Cons of Using a Mortgage Broker

05:29 – Canada vs. USA Use of Mortgage Brokers

08:19 –  Where Ron Thinks Interest Rates Are Headed

09:47 –  Divergence Between Haves vs. Have-Not

11:48 – Fixed vs. Variable Mortgage Rates

13:54 – Parents Helping with Down Payments

18:02 –  The Financialization of Housing

20:07 – Where Are Housing Prices Headed?

25:51 – The Small-Condo Market

30:09 – 30-Year Amortizations

32:10 – High Transaction Costs in Real Estate

34:46 – Renovations

39:37 – Big vs. Small Homes

43:23 – High Housing Costs Causing People to Leave Canada

46:10 –  The Housing-Affordability Crisis

51:42 – Rapid-Fire Questions

57:16 – An F-Bomb-Filled Ron Rant

59:03 – Conclusion

We’re joined this episode by Dan Bortolotti—Portfolio Manager at PWL Capital, creator of the hugely popular “Canadian Couch Potato” blog, author of “Reboot Your Portfolio: 9 Steps to Successful Investing with ETFs” and co-host of the “Rational Reminder” podcast.

In this episode, Dan and Dave dive deep into index investing, covering everything from active vs. passive investing styles to tips for DIY investors, asset allocation strategies, the pros and cons of all-in-one ETFs in Canada and much more. There’s a lot to unpack, but Dan and Dave make it all easy to understand.

This episode is a must-listen for anyone serious about DIY investing—tune in now!

Show Notes

(00:00:00) Intro & Disclaimer

(00:00:55) Intro to Dan Bortolotti

(00:02:04) The Origins of the “Canadian Couch Potato”

(00:06:56) What is an Index Fund

(00:08:52) Why Don't Most Active Managers Outperform the Market?

(00:15:12) How Dave's Dad Can Beat Professional Money Managers

(00:16:57) Group Retirement Plans

(00:19:25) Mutual Fund Underperformance

(00:22:42) Should People Speculate with 5-10% of Their Portfolio?

(00:26:31) The Financial-Planning-First Model

(00:33:42) How to Construct An Index-Fund Portfolio

(00:35:52) Risk Tolerance and Asset Allocation

(00:42:50) When Stocks & Bonds Both Went Down

(00:44:56) What Goes Into a Financial Plan?

(00:46:34) Get Life Insurance!

(00:47:59) There is No "Optimal" Financial Plan

(00:49:52) When to Take CPP

(00:51:21) The Risks of Helping Kids/Grandkids with Down Payments

(00:53:52) All-in-One ETFs

(00:58:16) Withholding Taxes on US Stocks

(01:02:27) Online Investment Platform Recommendations

(01:04:26) Conclusion