It's Personal Finance Canada – Details, episodes & analysis

Reality is fluid, ever changing, all consuming force imposing its will on the world, unstoppable in all ways, except for one weakness, our expectations.  This week we conclude our retirement trilogy with a report from the Ontario Security Commission which shows how our expectations and the realities of retirement intersect, for better or worse. How do people really spend their time and money compared to what they expected and how will the next generation of retirees differ drastically from today.

If you live in British Columbia, Alberta, Saskatchewan, Manitoba or Ontario let us help you take care of the people you love and visit braunfinancial.com 

DIY Investing at: https://get.modernadvisor.ca/braun-financial/

Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

Useful Resources:

Ontario Security Commission Report: https://www.osc.ca/sites/default/files/2024-01/inv-research_20240110_profiles-of-retirement.pdf

Retirement is just the culmination of all of the decisions we made during our working years…. uh oh! This week we talk about what happens when you wait until the last minute (or decade) to prepare for retirement, and how there is still hope for a decent retirement. It’s the battle of dedication vs expectation that will determine how you enjoy those golden years and what you get to do with your time.

If you live in British Columbia, Alberta, Saskatchewan, Manitoba or Ontario let us help you take care of the people you love and visit braunfinancial.com 

DIY Investing at: https://get.modernadvisor.ca/braun-financial/

Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

We did it bureaucrats, we saved the country from income inequality, now everyone is poor. This week we check in with several new reports on the growing trend of poverty in Canada and how 25% of people are struggling to cope with this new reality. Canadians are suffering from a perceived loss of control, increased stress and other related issues and are looking for a way back into the middle class lifestyle.

If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com 

DIY Investing at: https://get.modernadvisor.ca/braun-financial/

Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

Useful Resources:

New StatsCan survey: https://www.statcan.gc.ca/en/survey/household/5378

Food Banks Canada Report: https://fbcblobstorage.blob.core.windows.net/wordpress/2024/06/FBC_2024PovertyInCanada_ENG_v6.pdf

You wouldn't think that goals and lifestyle could be at odds in your life, but when your goals and lifestyle disagree with each other you'll find yourself stuck in life. This week we talk about the balance needed between our short-term goals and our overall lifestyle that we are trying to cultivate. We also talk about how both goals and lifestyle can work with and against each other is we don't know what we truly want in life.

If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com

Over 40% of Canadian couples get divorced, and money issues are the leading cause. This week we talk about the true cost of divorce and what happenes when irreconcilable financial differences drive people apart. Everything from child support to seperating assets, it all has a long term cost on your financial future.

If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com

Useful Resources:

BMO's 2014 survey on Divorce in Canada: https://globalnews.ca/news/1144095/top-reason-for-divorce-money-says-bmo-poll/ 

Federal Child Support Calculator: https://www.justice.gc.ca/eng/fl-df/child-enfant/2017/look-rech.aspx

Federal Spousal Support Calculator: https://www.justice.gc.ca/eng/fl-df/spousal-epoux/index.html

Renting is becoming harder, more expensive and for many people their only option. This week we talk go over some tips you help you through all stages of this process. Making the right decisions is key as housing for many is the biggest part of their monthly budget.

If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com

Useful Resources:

Info on tencancy agreements from the BC Government: https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/starting-a-tenancy/tenancy-agreements 

Sample Tenancy Agreement from the BC Goverment: https://www2.gov.bc.ca/assets/gov/housing-and-tenancy/residential-tenancies/forms/rtb1_chrome.pdf 

Sample Roomate Agreement: https://tenants.bc.ca/wp-content/uploads/2020/05/Roommate-Agreement-Template.pdf 

Renting 101 from the CMHC: https://www.cmhc-schl.gc.ca/en/consumers/renting-a-home

This week we follow up our talk on wills and go into detail about how a person's assets are transfered after they die. How property, investments money and other items ends up in the hands of those your love can be complicated but we unpack things so you can better understand how to structure your assets today so that more gets transfered to others later.

If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com

Useful Resources:

BC- WESA info: https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/09013_01 

Pecore vs. Pecore supreme court of Canada ruling: https://scc-csc.lexum.com/scc-csc/scc-csc/en/item/2355/index.do 

Don't be one of the 50% of Canadians who don't have a will and leave their fortunes in the hands of the courts. This week we talk about the reasons you need a will so you can continue to take care of the people you love even when you're gone. 

If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com

Useful Resources:

- Link to estate law resources by province https://www.canada.ca/en/financial-consumer-agency/services/estate-planning/resources-estate-law.html

- The Government of Canada web site provides a great deal of help in dealing with the many tasks to be handled in the event of a death: https://www.canada.ca/en/financial-consumer-agency/services/estate-planning.html  

Our goals are often sacrificed to our desires. This week we talk about the power that spending can have on our lives and how it can derail our dreams for our future and our goals in general. Learn how shopping is used to squeeze happiness out of our lives which feel more and more out of control, and what we can do about it.

If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com

Useful Resources:

Forbes article about how happiness being tied to being able to spend money: https://www.forbes.com/sites/traversmark/2020/01/21/why-showing-off-our-wealth-makes-us-happier-than-wed-like-to-admit/?sh=7c50f5c12c1b

2014 study from the Journal of Consumer Psychology on retail therapy: https://www.sciencedirect.com/science/article/abs/pii/S1057740813001149 

Ipsos Reid “ Understanding Retail Psychology to maximise conversions”: https://www.ipsos-retailperformance.com/en/insights/g-understanding-retail-psychology-maximize-conversions/#:~:text=Retail%20psychology%20is%20the%20study,to%20boost%20their%20own%20performance

This week we go over some of the top options available to invest in during this down market, ranked from highest risk options like stocks to lowest risk like GIC"s with a little surprise in the middle. Plus Cameron talks about why paying attention to a stocks Beta is so important in how you value stocks and funds and why so many people miss out on big gains when they don't.

If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com

Useful Resources:

Harvard Business School - "The Low Beta Anomaly: A Decomposition into Micro and Macro Effects" https://www.hbs.edu/ris/Publication%20Files/FINAL%20Decomposition%20of%20Low%20Risk_36c1e488-c814-496a-bd3b-113e54b3be1d.pdf