Smart Advice with Carissa Lucreziano – Details, episodes & analysis

Do you remember when and how you learned about money? From budgeting and saving to applying for credit cards or taking out a loan, building an early foundation of financial literacy is a key strategy to ensuring long-term financial success. That makes it all the more important for parents to grant their children a measure of money-savviness and financial know-how as soon as they can.

In a world where financial literacy is more vital than ever before, this episode of Smart Advice goes deep into teaching kids about money at any age and stage with the help of Robin Taub, author of The Wisest Investment: Teaching Your Kids to be Responsible, Independent and Money-Smart for Life. 

Whether you’re a parent eager to guide your children toward financial independence or an educator looking for insights on financial literacy, this discussion offers invaluable strategies to help shape financially responsible and confident young adults.

1. Discover practical tips for teaching financial literacy to children at any age.
2. Learn about Robin Taub’s five pillars of money management
3. Gain insights on how to be a financial role model for the next generation.

• Teach your kids about money using articles and resources from CIBC’s Ambitions Toolkit
• Pick up a copy of The Wisest Investment!

• Robin Taub, a CPA and mom, shares her journey from number-cruncher to financial educator.
• Her book was born out of a passion for helping parents feel confident in teaching their kids about money.
• Robin noticed that many parents feel out of their depth when it comes to money talks with their kids.
• She crafted the book as a go-to guide for raising financially savvy and responsible kids.

• Robin suggests kicking off money lessons as early as five, turning everyday errands into learning adventures.
• Simple activities like grocery shopping can become fun ways to introduce basic money concepts.
• Starting early gives kids a head start on building smart money habits that will last a lifetime.

• Robin breaks down money management into five key pillars.

[06:53] Robin: “So depending on the age that your child is, you're going to find these different types of teachable moments, but they are all going to come under what I call the five pillars of money, and those are earn, save, spend, share and invest.”

• These pillars grow with your child, adapting as they move from piggy banks to real-world finances.
• Parents are encouraged to level up their own financial knowledge to lead by example and teach with confidence.

[08:48] Robin: “It’s hard if you don't feel like you're particularly good with money yourself to feel like you can teach your children, but I try to encourage parents to learn along with their kids.”

• Being a role model isn’t just important—it’s the secret sauce to raising money-smart kids.

• Ontario high schools are stepping up with a new financial literacy test, and Robin is all for it.

[12:51] Robin: “Kids need to learn this stuff wherever they can. I mean, who you know? Going back to the original — if you're not teaching your kids about money, who is?”

• While schools are laying the groundwork, parents play a crucial role in reinforcing these lessons at home.
• As kids grow into young adults, they’ll need guidance on navigating credit, saving for college, and dipping their toes into investing.

• We have to remember too that children don’t have our level of financial education.

[19:12] Robin: “Sometimes the things that we take for granted that we know at this point, kids don't know.”

• However, financial education isn’t just top-down; parents can pick up new tricks from their tech-savvy kids.
• Some kids today are clued into the latest financial tools and trends, and parents can learn a thing or two from them.
• Making financial mistakes isn’t the end of the world—it’s a priceless learning opportunity, especially with parental support.
• Guiding your kids through financial missteps helps them bounce back stronger and smarter.

[21:14] Robin: “You need to let your kids — you want to teach them, but you also need to let them make mistakes and learn from them.”

• Lead by example. Your children will see you as a role model when it comes to money. This includes where you excel and where you make mistakes.
• Be on the lookout for teachable moments in day-to-day life. There will be something appropriate for a child of almost any age — even as young as five!
• Impart and build values when you give your child a financial education. Discovering what’s important to you and them can help shape their future decisions.

Robin Taub is a Chartered Professional Accountant (CPA) and a passionate advocate for financial literacy. With a background in finance and a deep understanding of the challenges parents face in teaching their children about money, she has dedicated her career to making financial education accessible and engaging for families.

Robin is the author of The Wisest Investment: Teaching Your Kids to be Responsible, Independent and Money-Smart for Life, a highly regarded guide that empowers parents to raise financially savvy children. Drawing from her experiences as both a financial professional and a mother, Robin’s work emphasizes the importance of starting financial education early and the role of parents as financial role models, making her a leading voice in the field of family financial education.

Connect with Robin Taub on LinkedIn, or visit her website.

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Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family — especially the parents! The earlier a child learns financial literacy, the better their chances of becoming money-savvy and successful as adults.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, Twitter, or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

In a world of financial uncertainty and rapid market changes, long-term investing success can be achieved by focusing on the areas and strategies that are within your control. You've undoubtedly heard that investing is an excellent way to build wealth, but there's more to investing than simple tricks like "buy low, sell high". 

This episode dives into a compelling conversation with Michael Keaveney, Vice President of Managed Solutions at CIBC, as he describes the key habits of successful investors including investment diversification, investing regularly and staying disciplined amid market volatility. 

Both novice and seasoned investors can leverage the insights and strategies discussed in this episode to enhance their portfolio and effectively manage their financial future. 

1. Learn why investors should prioritize their own financial objectives and maintain realistic expectations about returns.
2. Discover how a well-diversified portfolio can manage risk and enhance returns.
3. Understand the benefits of a regular investing plan.

CIBC Asset Management insights hub: Preparing your portfolio for market volatility

CIBC Smart Advice hub: Three tips to make your regular investments work harder 

CIBC Investor’s Edge poll: Many Canadians’ financial strategies overlook investing 

• Optimism for investors is growing, with 2024 poised to bring a resurgence in market performance.
• Despite past challenges with inflation and rising interest rates, the future looks promising for the market, especially when considering investment diversification.
• CIBC's economic team expresses cautious optimism about the economy's resilience and its positive influence on investments.
• The value of the Canadian dollar remains an important consideration for crafting effective investment strategies.

[01:17] Carissa: “Everyone has a different investment goal, different appetite when it comes to volatility and duration in the market.”

• Investors need to understand and focus on their individual goals. Set realistic expectations for their success and timelines.
• Educating yourself about the market is crucial. As an investor, remember that the market is complex and always affected by various factors.

[05:50] Michael: “Markets are not linear in the return path that they generate for you. A lot of your overall return comes from a relatively small number of really good periods. And we don't know exactly when those best times will come.”

• Market volatility is an inherent feature, not a flaw, of the market. Investors should prepare for and accept this volatility as part of the investment process.
• Many investors lose market opportunities because of jumping in and out of the market. People tend to jump out after the worst days and miss the best time.
• Shift your investor mindset. Understand that short-term downturns will happen instead of jumping in and out of the market.

• Diversification remains a powerful strategy for managing risk and enhancing potential returns.
• A well-balanced portfolio can smooth out the ride by reducing overall volatility.

[08:42] Michael: “Diversification reduces volatility due to less than perfect correlation between asset classes.”

• The approach to balanced portfolios has evolved, now incorporating broader foreign exposure and innovative alternative investments.
• Constructing a balanced portfolio involves adapting and fitting expert ideas from different asset classes into your diversified portfolio.

• Short-term market dips are natural. Staying invested through market cycles is often more effective than trying to time the market.

[18:21] Michael: “There's always going to be something in the portfolio that is the laggard. That's the whole point.”

• Regular investing is crucial in order to achieve key financial goals such as a comfortable retirement. A regular investing plan can help you finance your whole lifetime.
• To achieve long-term investing success, focus on the areas you can control. This includes personal goals, risk tolerance, and investment strategy.
• Currently, negative news and uncertainty push people to make fear-driven decisions. Instead, focus on your long-term goals.

• A lack of knowledge and fear of loss often hold potential investors back from making informed decisions.

[23:20] Michael: “Fear is not conducive to long-term success.”

• Michael identifies what makes a good investor: having clear and realistic goals, learning from your mistakes and other people’s, discipline in investing, and cautious optimism.
• Gaining insight into the inner workings of balanced portfolio management can demystify the investment process and bolster investor confidence.

Michael Keaveney is the Vice President of Managed Solutions at CIBC. With a strong background in investment management, Michael leads the development and oversight of CIBC’s managed investment solutions. He is known for his expertise in portfolio management, investment strategies, and client-focused financial planning.

Michael has played a pivotal role in evolving CIBC's balanced portfolio offerings, including increasing foreign exposure and alternative investments. His work with Morningstar also gave him powerful insights into the investment behaviour of several demographics. His approach emphasizes investment diversification, disciplined investing, and helping clients navigate market volatility with confidence.

Connect with Michael Keaveney on LinkedIn

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family and share valuable insights into how investment diversification becomes your shield against volatility.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, Twitter, or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

Navigating rising housing and grocery prices, managing bills, and dreaming of homeownership by 30? Wondering if retiring at 65 is still feasible? The financial roadmap has shifted from what our parents and grandparents once knew.

The art of financial multi-tasking—juggling multiple financial goals simultaneously—can be a game-changer. It allows you to steadily chip away at your financial milestones, ensuring you're not just focused on one, but making progress across the board.

In this episode of Smart Advice, Globe and Mail personal finance columnist Rob Carrick offers a real-world view of modern finance. Drawing from over three decades of personal financial experience, he understands the evolving milestones of today, different from yesteryears.

Join us to explore whether you should still chase the financial dreams of previous generations or carve out your own path.

Resources

·         The Stress Test Podcast

·         Carrick on Money

·         Financial advice for every step of the way available on CIBC Smart Advice

·         Connect with Rob Carrick on: LinkedIn | Twitter | Website | Globe and Mail

Artificial Intelligence (AI) has been a popular topic in recent years, especially with the advancement of generative AI and the creation of tools like ChatGPT. People and businesses alike are exploring ways to integrate the technology into our daily lives from education and services, to businesses and investing.  

To look at the growing opportunities for generative AI in finance, Robertson Velez is here to join us on Smart Advice. He is a Portfolio Manager with CIBC’s Global Equities team responsible for stock selection, portfolio construction and risk control for the Technology and Communications sleeves of the Renaissance Global Technology Fund and CIBC Global Technology Fund. He also has a 12-year career in computer engineering. This makes Robertson uniquely qualified to help us better understand the impact of AI on finance and beyond. He dives into how AI has been used in the past while identifying opportunities for the future. 

Join us as we discuss the growing use and potential of generative AI on this episode of Smart Advice.

Resources

·         CIBC Smart Advice

·         Read the CIBC Asset Management Market Spotlight on Generative AI

·         Watch Generative Artificial Intelligence: What investors need to know

·         Listen to Robertson Velez on the Advisor To Go podcast: Identifying investment opportunities in AI

·         Learn more about the CIBC Global Technology Fund

The strength of the economy and how it impacts Canadians is top of mind right now. Over the last year, Canadians have faced high inflation, multiple interest rate hikes and a rising unemployment rate. So it’s no surprise, many are wondering what to expect next.

In this episode, CIBC’s Managing Director and Chief Economist, Avery Shenfeld joins us to give his insights and analysis on the market and answer some pressing questions about the Canadian economy. From inflation and interest rates to buying and investing, Avery talks to us about the current economic situation in Canada and what it might look like in the next few years.

Listen to this episode and find out what the Canadian economy looks like today and how that can impact your daily life.

• CIBC Smart Advice
• Avery’s weekly newsletter, The Week Ahead
• View the latest research and commentary from CIBC's Economics team

There’s growing interest in investing in the housing market right now, but starting a portfolio in real estate investing can be challenging and many may even be wondering if this is the right time to invest, given the current climate.

In this episode, Scott McGillivray joins us on Smart Advice with his answer — don’t think about timing the market, instead, think about how much time you will be in the market. This episode is a goldmine for new and experienced investors alike, as we discuss the strategies Scott used to build his portfolio and key considerations you need to think about when choosing the right location and renovations.

Looking to step into real estate investing or want to review your portfolio? This episode can help inspire you to make better decisions! And for more valuable insights from Scott and Carissa, check out season 3 of Buying In.

• Listen to our previous episodes on Rent vs buy with Benjamin Tal and the First Home Savings Account with Jamie Golombek
• Check out the CIBC Smart Advice Mortgage Affordability Calculator as well as articles on buying or renovating a home
• Connect with Scott at his Website. Alternatively, follow him on Facebook, Twitter, Instagram, and YouTube

Homeownership is a dream that many Canadians aspire to, but with rising home prices — especially in places like Ontario or Vancouver, BC — achieving that dream is becoming more difficult.

That’s where the First Home Savings Account comes in. It’s a new savings plan introduced to help first-time Canadian homebuyers land their first home. In this episode, Jamie Golombek gives us an overview of the FHSA and how it can be used to its fullest potential. We also review some scenarios where the FHSA is — or isn't! — applicable.

The new First Home Savings Account (FHSA) is coming to CIBC this November. Connect with your advisor or visit cibc.com/FHSA to sign up for updates

Resources

• Listen to the previous episode with Benjamin Tal, Rent versus Buy!
• CIBC Smart Advice
• Look up Jamie Golombek’s website for tax advice!

Managing your finances can be difficult and stressful. This is especially true when you don’t know how financial planning works. Financial planning is essential for anyone who wants to achieve financial security and wellness. Fortunately, professional financial planners are here to help you build a plan and implement it for a better, financially secure life.

In this episode, Tashia Batstone joins us on Smart Advice. As the President and CEO of FP Canada, Tashia is passionate about promoting financial wellness among all Canadians. She talks about the changes that need to be made to encourage people and educate them on financial planning. We dive into how financial planning can help improve life for all Canadians.

Don't let your finances get you down. Listen to this episode to find out how financial planning can help you!

When it comes to difficult conversations, those around wills and estate plans tend to top the list. The planning can be emotional, overwhelming or costly. But it is a conversation worth having, if you want to ensure your wishes are carried out and the process itself doesn’t need to be as complicated as you may think.

On this episode of Smart Advice, we are joined by Willful’s CEO and Co-Founder, Erin Bury. She shares the inspiration and motivation behind the birth of Willful, a do-it-yourself online will platform that simplifies essential components of the estate planning process. Erin also talks about the importance of estate planning early on and when to update your estate plan.

If you want to ensure your loved ones are taken care of, long after you are gone, this episode is for you.

Create a will online in less than 20 minutes and get a 20% discount as a CIBC client with our partnership with Willful

The recent market trends have taken even the most seasoned investor for an emotional roller coaster ride. And those feelings can have a significant impact on financial decisions, driving both savvy and irrational investment choices.

In this episode of Smart Advice, CIBC’s Managing Director and Head of Institutional Equities Mark Herzog joins us. As a seasoned trader and investor, Mark shares his insights into emotional investing and how creating a rock-solid investment plan can allow you to make well-balanced decisions and navigate the market with confidence.

 

If you want to discover how to have a framework around your emotions when investing, this episode is for you.

Watch Mark Herzog in “CIBC Investor’s Edge: Greed, fear, hope, regret… repeat”