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

What has happened will happen again. Bull and Bear markets come and go but it is important to study and understand the Bear markets and crashes so we don't make mistakes the next time they come around. 

This week we go over some the of the biggest North American stock market crashes and find out what triggered them, how the recovered and who those lessons can apply to today's Bear Market so you can protect and grow your investments.

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

What happens when you are no longer able to manage your finances? This is where a Power of Attorney comes into play. This week we talk about what this power is, how to choose a representative and how to structure it in a way which will help you live more comfortably and be able to take care of those you love better. 

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

Useful Resources:

Governmetn of Canada Report: "What every older Canadian should know about: Powers of attorney (for financial matters and property) and joint bank accounts" https://www.canada.ca/en/employment-social-development/corporate/seniors/forum/power-attorney-financial.html 

Economists say that over the next four years over a Trillion dollars will be moved from parents to kids in Canada. If you're lookling to better understand how to get money to your kids or are looking to start a conversation with family members then this weeks episode can help get that informed dialogue going and understand the benefits and limitations of estate planning.

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

Useful Resources:

Macleans's article on intergenerational wealth transfers: https://www.macleans.ca/economy/generational-wealth-often-comes-in-the-form-of-down-payments-and-trust-funds-does-it-also-include-grocery-runs/#:~:text=Kang%20says%20wealth%20is%20%E2%80%9Cthe,by%202026%20is%20the%20largest

From Manulife "Preparing your family for the great wealth transfer": https://www.manulifeprivatewealth.com/ca/en/viewpoints/investor-education/preparing-your-family-for-the-great-wealth-transfer  

There’s only one way to truly deal with my deep emotional struggles… Shopping Spree! This week we review “In the Realm of Hungry Ghosts” by Gabor Mate and talk about how the same underlying roots of addiction influence our poor spending choices. Better understand what our brain is doing and how we try to cope through addiction, spending and other long term destructive patterns done to make each day more bearable.

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

This week we talk about how your financial planner or advisor should be deciding which funds are the best fit for you. We cover all the ins and outs and everything you need to be aware of as you prepare to put your hard earned money to work with the right person. From KYP to KYC, sales charges, fund composition and everything in between we take away the mystery of investing with an advisor.

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

This week we give you an inside look at what goes on inside your first meeting with a financial planner. We go over the different desiganations and what they mean for you so you can make sure the person you're talking to is actually qualified. We then cover many of the best questions you can ask to determine if they are really the best fit for you and your family. There's also tips about proper expectations, governemnt regulations, industry protocols and sales practices you need to be aware of to ensure you're getting the best service possible.

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

Don't forget you can email us at contact@braunfinancial.com to get a sample of our client fact finder so you can see what to expect, and to make sure your planner is being as thourough as they should be. 

Useful Resources:

What it takes to become a Certified Financial Planner: https://www.fpcanada.ca/certifications/cfp-certification 

Today there seems to be all kinds of options when it comes to investment accounts. But knowing which one will benefit you the most isn't always obvious. Today we get a refresher on RRSP's and TFSA's but we also delve deep in to what a Non-Registered account is and when it's a good time to use one. Finally we talk about how you can maximize your savings and tax bill by using a combination of these different account types.

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

Useful Resources:

RRSP: Contribution rule info: https://www.savvynewcanadians.com/rrsp-deduction-limit-carry-forward-and-over-contribution-rules/

CRA and Capital Gains: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4037/capital-gains.html

Dividend Taxation: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12000-taxable-amount-dividends-eligible-other-than-eligible-taxable-canadian-corporations.html

This week we go deep into our motivations behind making more money and find out if the true cost of "success" is worth it. From recent sociological, economic and goverment studies we find out if it's really worth working yourself to the extreme in order to have more money.

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

Useful Resources:

-Stats Can study on sources of stress: https://www150.statcan.gc.ca/n1/pub/11-627-m/contest/finalists-finalistes_2-eng.htm 

-Daniel Kahneman's 2010 study "High income improves evaluation of life but not emotional well-being": https://www.pnas.org/doi/10.1073/pnas.1011492107  

-Harvard Busniess School study on the corrolation between happiness and income: https://hbswk.hbs.edu/item/more-proof-that-money-can-buy-happiness#:~:text=When%20we%20wonder%20whether%20money,cause%20stress%2C%20new%20research%20shows

-Killingsworth's article from the Proceedings of the National Academy of Sciences Journal: https://www.pnas.org/doi/10.1073/pnas.2016976118 

-World Economic Forum study on a 4 day work week: https://www.weforum.org/agenda/2022/05/4-day-work-week-what-means-for-the-future-of-work/ 

Books Mentioned:

-Deep Work by Cal Newport

-The 80-20 Principle by Richard Koch

-Is Work Killing you by Dr. David Posen

Carbon Prices are going up! This week we talk about what Canadian Carbon Taxes meant to you and how you need to start preparing. What is the tax, how it's trying to change you behavior and how the choice for change is evaporating before us while we also stare down the barrel of a recession. 

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

Useful Resources:

Fraser Institute - Estimated Impacts of a $170 Carbon Tax in Canada: https://www.fraserinstitute.org/sites/default/files/estimated-impacts-of-a-170-dollar-carbon-tax-in-canada.pdf

International Energy Agency - Global Energy CO2 Status (2019): https://www.iea.org/reports/global-energy-co2-status-report-2019

Nature Climate Change Journal - Limited impacts of carbon tax rebate programmes on public support for carbon pricing: https://www.nature.com/articles/s41558-021-01268-3

BC Climate action tax credit info: https://www2.gov.bc.ca/gov/content/taxes/income-taxes/personal/credits/climate-action

Goverment of Canada - Carbon pollution pricing systems across Canada: https://www.canada.ca/en/environment-climate-change/services/climate-change/pricing-pollution-how-it-will-work.html

This week we tackle many examples of conventional wisdom and try to offer eight financial tips that will actually help you right now. Everything from education, job oppertunities, buying habits, and savings get put to the test to see what still bears proverbial fruit in 2022.

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

It's been a rough start to the markets in 2022, and high inflation and rising interest rates aren't making things any better. This week we take you behind the curtain for a look at what is happening behind the scenes with carriers and fund managers and how you can ask your financial planner the right questions about your investments.

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

It's Mothers Day (on the day we recorded) so what better time to learn about how to teach your kids about good financial management and decision making. From allowances, budgeting, credit and more we discuss topics worth talking with your kids about.

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

This week we test out the so called "tried and true" 4% and see if it still applies to the 21st Century. That's right we discuss the The 4% withdrawal rule, sequence of returns and retiring in a down market like the one we're in right now.

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

This week we talk about the true cost of rising interest rates and how it will impact you and your budget. Rates are going up so you need to get ready now to secure your financial future. 

As a bonus we also explain how the Bank of Canada and the Federal Government are able to make money appear out of thin air and why that is contributing to the rising cost of living.

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

Parliamentary report on how money is created in Canada: https://lop.parl.ca/sites/PublicWebsite/default/en_CA/ResearchPublications/201551E

So when do I start having debt freedom? That’s the neat part, you don’t! This week we talk about how our culture of debt  is designed to keep us in debt and how investors profit from it. Learn about asset backed securities, various mortgage repacking strategies and other ways your debt makes other people money, or even yourself?

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:

CMHC Total Outstanding Debt Report: https://www.cmhc-schl.gc.ca/professionals/housing-markets-data-and-research/housing-data/data-tables/mortgage-and-debt/total-outstanding-debt-payment-financial-obligation-canada-cma

This week we offer a flurry of tax tips just in time for your 2022 filling, to help you get more of the deductions and credits that you ma be entitled to.

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

Link mentioned in the episode:

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses.html

This week we breakdown the key points of Budget 2022 which will impact your personal finance decisions for the rest of the year. We'll cover changes to housing affordabilty, new programs and how it's all going to be paid for.

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

Having a family is a big financial responsibility but knowing whether or not to stay home with the kids is a difficult choice, especially today. This week we talk fomr our own experience of weighing the financial pro's and con's of childcare and how those choices impact your finances.

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

This week we discuss good and the bad about active investmetns and if paying fund managers and MER's is worth your investment Dollars. We also tackle what to look out for when choosiing an active investment option for yourself.

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

Investing can be complicated so many people choose to follow the "indexes" to make theri lives less complicated. This week we talk about what these main North American indexes are and how they can help you reach your financial goals.

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

This week we put the "personal" in It's Personal Finance Canada, as we go over our own story of how we got to where we are today. Learn how our experiences have shaped our views of personal finance and how try to help others through our own life lessons. 

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

This week Christine goes over the key questions you need to ask yourself about sustaining yourself during retirement. Learn the ins and outs of different investment strategies and whay you need to be on the look out for in you golden years so they don't turn into your rusted years.

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

What are the three pillars of your retirement and how much do you need to stock up to live comfortably in retirement? This week Christine helps you understand how a successful retirement package is built and how you can impliment it into your own life.

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

Budgeting doesn't have to be a painful or depressing experience. Leanr how Christine manages her own finances with her Simple Budget process which will help you getyour finances in order in only a few minutes each pay period. 

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

Inflation is hitting everyone hard these days and there seems to be no relief in sight. Learn today about the role of the Bank of Canada and how it impacts your wallet, ability to pay for groceries and if you could ever buy a house.

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

Oh God, not the verbal bees, I can’t take anymore of these buzzwords. This week we talk about clarity, priorities, leveling up and saying no along with other concepts Christine learned recently at a coaching event and reading two different books. We examine “10x is Easier than 2x” by Dan Sullivan & Dr. Benjamin Hardy and “Essentialism” by Greg McKeown and find out how to live with clarity and intention. 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

This week we look at all of the in's and out's that can impact your decision to start you own side hustle 2022. Find out what lies beneath all of the corporate bells and whistles and prepare yourself to somehting that'll be profitable in every area of your life.

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

This week Christine talks about all of the hidden advantages of opening up an RESP for your kids at a young age. Here's a hint, do it right and get free money put into it every year.

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

This week we get into the nitty gritty of how an RRSP can help you defer taxes and put more money in your pocket today and in the future.

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

Go behind the scenes and get the scoop about what insiders are saying about the market outlook in early 2022. Prepare yourself as both a consumer and an investor and learn how to thrive in this coming season.

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

This week Christine talks about all of the benefits and hidden gems you need to know about RRSP's and TFSA's. Learn how to lower your tax bill, prepare for retirement and make the most of your investments.

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

This week we talk about personal finance tips to get you ready for the upcoming year and help you to avoid any tax surprises which may be lurking in the early months of 2022. 

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

In today's episode we take a loot at Canada's housing affordability crisis and talk about how interest rates, the bank of Canada and desirability are feeding this staggering growth of real estate prices.

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

In part two of our look at living benefits we discuss how Critical Illness Insurance and Long Term Care insurance can help you protect your family from unexpected illness and life altering conditions without leaving you bankrupt. 

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

Life is chaotic and unpredictable but there are ways to protect your family and your income. Learn today how to become unstoppable though the power of disability insurance and how it can help you take care of the people you love.

It can be daunting to tackle your own personal finances but learning how is actually easier than you realize. Join us in our debut episode where Christine lays out many of the lessons she’s learned as the owner of a financial planning firm where she helps average Canadians just like yourself.

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

This week we respond to a fan question about whether or not it’s a good idea to withdraw from an RRSP before age 71. We talk about strategies that can work and some of the pit falls that can increase taxes, lower benefits and generally waste your hard earned investment gains.

 

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

Picking a fund is like buying an apple… why are there so many of them... Gala and Fuji are different… forget it I’ll just get this green one. This week we go behind the scenes and talk about how we evaluate and compare investment funds for our clients day to day, all without losing our sanity. We talk about how we break down geography, risk, sector, performance, philosophy and other metrics all through the lens of a clients story and financial goals in life. 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

A dollar saved is a dollar that still doesn’t trust you. This week it’s another edition of financial planner confessions as Christine give you quick tips on how to save money and better allocate your financial resources. Money saving tips such as don’t take kids to candy stores, keep Christine away from espresso beans and how to assign true value to all the shiny things we want.   If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com    Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

The key to retire early is to just give up… working… everyday. This week we confront a new study which shows the changing face of retirement expectations in Millennials. The classic forced march to 65 is out and a new face of retirement is emerging where people are looking to better enjoy their lives. Despite inflation, and high interest costs, and low job prospects, and unstable stock markets and no where to live; Millennials sure are an optimistic bunch.

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

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

Useful Resources:

Toronto Star Article: https://financialpost.com/fp-work/young-canadians-think-retiring-65-outdated-concept#:~:text=Seventy%2Dfour%20per%20cent%20of,survey%20published%20by%20Wealthsimple%20Inc.

Wealthsimple White paper: https://newsroom.wealthsimple.com/canadians-seek-to-redefine-retirement-years