Build Wealth Canada Podcast

This is part 2 of the series on how to execute an early retirement, with financial planning veteran John Kalos. In this episode, we use our financial plan as a case study so that you and other Canadians can get some insights on how to execute an early retirement. The goal is to give you a better understanding of what a financial plan should include, what it can do for you, and give you some insider tips from a real ex-banker on what to look out for when you encounter a financial planner or advisor trying to sell you a service like that. If you do have some questions for John (the financial planner we used), or if you'd like to discuss potentially having him take a look at your financial situation too just like he did with my family, then you can sign up for a free consultation with him by going to buildwealthcanada.ca/john. It's totally free, and there's no obligation or anything like that. Links and Resources Covered Receive a free consultation with John and have your questions answered at www.buildwealthcanada.ca/john. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Questions Asked During the Interview: You and I went through the entire financial planning process together, with you as our financial planner. After you created the financial plan for us, one of the insights that came out of it, which goes against what we hear in the media a lot is that if you were to retire or semi-retire right now, you don't necessarily always need a 1 million dollar or more investment portfolio to pull it off.For example, our portfolio wasn't at $1 million and all the numbers supported that we still have enough for a full retirement right now. Why do you think we often hear in the media how you need that $1 million dollar portfolio, and why is this not necessarily always the case? To give everyone listening some actionable things that they can do when searching for a financial planner that's right for them, what are the red flags to look out for when meeting with a financial planner/advisor? I really like the process that you and I went through when you did our financial plan, and I think it's a really good example of what the process should be like. So now that we've talked about the negative things to look out for and what we don't want, can you give us a brief overview of your process?. I know this is something you've been optimizing for 20+ years so can you also highlight the critical pieces in the process that everyone should have when working with a financial planner? When you did my plan there were several critical components that you made sure you factored in that could really make a huge impact on whether someone can retire early or not. For anybody looking to do an early retirement, what were these key components that can really shorten the number of years that you need to work? Also, let's break this question down into 2 parts. First, let's talk about the controllable factors (ex. Spending, part time work, etc.) which we can all focus on that have the biggest impact on how early we can retire.And then after that, let's talk about the factors that we can't directly control, but that absolutely need to be factored into the financial plan, no matter who your financial planner or advisor is, because they have such an enormous impact on our ability to retire early (ex. Inflation, CPP and OAS). What I really liked in particular was the summary page that you produced where it talked about things like what's the most we can spend annually and still have enough to stay retired? And how much we actually need to retire? Using our actual numbers and financial plan as a real life example, can you speak to what the results for us were in the context of, what are the answers that we should have from our financial planner when getting a financial plan like this done> Early retirement execution questions: Now that we have all the numbers we need from doing a financial plan, let's switch gears and talk about how to actually execute an early retirement or semi-retirement once you know you have enough in your investments.To start, how should our portfolio change when we move from an accumulation phase (where we're working full-time, saving and investing), to the decumulation phase where we're not working at all or only working part-time. When in retirement, should Canadians tweak their portfolio to generate more yield and try to live off that? or do you suggest just selling-off a percentage of the portfolio every year during good years and keeping a cash cushion during that bad years so that we'r

In this episode, we use our financial plan as a case study so that you and other Canadians can get some insights on how to execute an early retirement. The goal is to give you a better understanding of what a financial plan should include, what it can do for you, and give you some insider tips from a real ex-banker on what to look out for when you encounter a financial planner or advisor trying to sell you a service like that. If you do have some questions for John (the financial planner we used), or if you'd like to discuss potentially having him take a look at your financial situation too just like he did with my family, then you can sign up for a free consultation with him by going to buildwealthcanada.ca/john. It's totally free, and there's no obligation or anything like that. Links and Resources Covered Receive a free consultation with John and have your questions answered here. Kornel's investing course: Free Sample Lessons Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on that page for all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Questions Asked During the Interview: You and I went through the entire financial planning process together, with you as our financial planner. After you created the financial plan for us, one of the insights that came out of it, which goes against what we hear in the media a lot is that if you were to retire or semi-retire right now, you don't necessarily always need a 1 million dollar or more investment portfolio to pull it off.For example, our portfolio wasn't at $1 million and all the numbers supported that we still have enough for a full retirement right now. Why do you think we often hear in the media how you need that $1 million dollar portfolio, and why is this not necessarily always the case? To give everyone listening some actionable things that they can do when searching for a financial planner that's right for them, what are the red flags to look out for when meeting with a financial planner/advisor? I really like the process that you and I went through when you did our financial plan, and I think it's a really good example of what the process should be like. So now that we've talked about the negative things to look out for and what we don't want, can you give us a brief overview of your process?. I know this is something you've been optimizing for 20+ years so can you also highlight the critical pieces in the process that everyone should have when working with a financial planner? When you did my plan there were several critical components that you made sure you factored in that could really make a huge impact on whether someone can retire early or not. For anybody looking to do an early retirement, what were these key components that can really shorten the number of years that you need to work? Also, let's break this question down into 2 parts. First, let's talk about the controllable factors (ex. Spending, part time work, etc.) which we can all focus on that have the biggest impact on how early we can retire.And then after that, let's talk about the factors that we can't directly control, but that absolutely need to be factored into the financial plan, no matter who your financial planner or advisor is, because they have such an enormous impact on our ability to retire early (ex. Inflation, CPP and OAS). What I really liked in particular was the summary page that you produced where it talked about things like what's the most we can spend annually and still have enough to stay retired? And how much we actually need to retire? Using our actual numbers and financial plan as a real life example, can you speak to what the results for us were in the context of, what are the answers that we should have from our financial planner when getting a financial plan like this done> Early retirement execution questions: Now that we have all the numbers we need from doing a financial plan, let's switch gears and talk about how to actually execute an early retirement or semi-retirement once you know you have enough in your investments.To start, how should our portfolio change when we move from an accumulation phase (where we're working full-time, saving and investing), to the decumulation phase where we're not working at all or only working part-time. When in retirement, should Canadians tweak their portfolio to generate more yield and try to live off that? or do you suggest just selling-off a percentage of the portfolio every year during good years and keeping a cash cushion during that bad years so that we're not selling our investments when the markets are down? For the fixed income portion of our portfolio how do you decide between using bonds vs doing a GIC ladder? What size of a cash cushion do you suggest for

Today's guest has written over 1,000 financial plans for Canadians and is truly as experienced as it gets in this field. He has extensive knowledge on some of the higher impact investment strategies that can really help accelerate our returns such as the Smith Manoeuvre and how to use an RESP properly. We also cover how to structure your investment portfolio and what investments to buy. Links and Resources Covered Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Questions Covered: 1. To start things off, tell us a bit about yourself and how you got into financial planning. 2. One of the strategies that I wish I knew about back when I was younger was how to make your mortgage tax deductible. Our friends in the US are able to easily deduct their mortgage interest against their taxes, whereas this is generally not allowed in Canada. However, you suggest a strategy called the Smith Manoeuvre for Canadians which when properly structured and deployed, lets Canadians deduct their mortgage interest as well. Now you've set this up for many Canadians within you financial planning practice. Can you start off by taking us through what the Smith Manoeuvre actually is, how it makes all this possible, and how much money can actually be saved by doing this. In other words, is this actually worth our time to look into? 2.1. I get the impression that Canadians use this with their primary residence a lot, but what if somebody has their mortgage paid off or has a rental property. Is it highly beneficial to use this strategy then too? (ex. taking out equity from the home using a HELOC and using it for leveraged investing?) 3. I've researched the Smith Manoeuvre a fair bit and a common theme seems to be that you have to be very careful with how it's set up so that the Canada Revenue Agency doesn't flag you and treat this as tax evasion where you end up paying all sorts of fees. Can you talk about what to be careful of, and what the common mistakes are when Canadians try to set this up? 4. A lot of Canadians hear about the free money you can get from the government if you put money in an RESP. I remember when we had our daughter I got numerous calls from companies that were trying the "help" us with setting up an RESP. To kick things off, can you explain what an RESP is, and is this something that we need a company to set up for us? When you work with clients, at what point do you advise them to start moving the investments to something less volatile like bonds once their child starts approaching the age when they start their post-secondary education? Do you start with a diversified, all stock portfolio, and then use a formula to know how much to move into bonds every year? 5. Let's say you had to retire tomorrow with a $1,000,000 portfolio. You have no debt, a paid off house, but no work pension. How would you structure your portfolio and what investments would you buy so that it would last you indefinitely? Would you change your investments and portfolio structure at all once you hit 65 (assuming that's when you choose to start receiving CPP and OAS from the government). 6. Traditionally, the general accepted rule has been that the older you get, the more you should put towards bonds to keep your portfolio less volatile. You wrote a very interesting article talking about how loading up too much on bonds isn't actually the sustainable thing to do. Can you talk about your findings and research. 7. Tell us more about where we can learn more from you? 8. What are some of the most common questions and problems that you tackle for your clients?

Today I'm excited to have Mark Seed on the show, who runs the popular Canadian blog, My Own Advisor. On the blog, Mark documents his journey and lessons learned as he invests towards achieving an early retirement, and works on growing his portfolio to 1 million dollars. What's very interesting about Mark, is that he is a hybrid investor meaning he doesn't just invest in one particular way (for example, he doesn't just buy the index with ETFs). Instead, he uses ETFs to hold US and international companies, but when it comes to the Canadian portion of his portfolio, he holds individual stocks of strong dividend paying companies instead of just holding a single ETF that captures all the major companies in Canada. This is a bit of a different strategy than what I've been doing, so I thought it would be great to have Mark on the show to broaden our view by seeing how others invest, learn why he invests in that way (the pros and the cons), and see if maybe it's a good fit for the way you invest. Links and Resources Covered Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Questions Asked During the Interview: What made you decide to be a hybrid investor instead of just sticking with index investing or just dividend investing? What is your process you take for selecting which dividend paying companies to buy? Once you've done your due diligence on the company, what analysis do you do to determine whether now is the right time to buy? For example, how do you decide whether a company is currently overvalued or undervalued? How do you deal with the risk that you are investing in individual companies? As opposed to hundreds or thousands of companies through an ETF. For example, let's say you're holding CIBC. How do you deal with the worry that something might happen at that particular company and it could potentially never recover back to its previous stock price? (ex. Nortel, Blackberry) What made you choose to buy individual dividend paying companies vs buying something like the aristocrat ETF? Once you choose to retire, how do you plan on changing your asset allocation, if at all? (i.e. Going from an asset accumulation stage, to an asset decumulation phase). What if you retired early? What if you did a traditional retirement where CPP, OAS, and your pensions kick-in right away (or almost right away). If you did a much earlier retirement where CPP and OAS don't kick-in yet, would you move all or most of your investments to stable Canadian dividend payers partially due to the dividend tax credit? Speaking of asset allocation, what are your thoughts about using bonds as part of your portfolio, especially in retirement? Many Canadians are feeling reluctant to use them due to their low returns, and are expecting their prices to drop due to their fear of rising interest rates here in Canada. What's your take on this? A common criticism against the Canadian index is that we as Canada are too concentrated in just a few sectors (i.e. energy, financials, materials). I imagine you run into the same challenge with Canadian dividend investing. Do you do anything to offset this in your portfolio? Have you come across any good solutions? Do you have any other advice for dividend focused investors? (or investors in general) Tell us more about My Own Advisor and what's the best way to hear more from you?

Today we're going to take a deep dive into the world of real estate, and we're going to approach it from 2 sides: First, we'll talk about real estate as an investment (i.e. If you've ever thought about investing in a property and renting it out). Now if you've listened to past episodes of the show, then you know that it can actually be really hard to get the numbers to work when buying a home and trying to rent it out as an investment. Today's expert, however, is going to share some strategies with us that she uses to actually successfully invest, and make the numbers work, despite the high prices of real estate that we've been seeing. Next, we'll shift focus and talk about the different home buying tips, and expensive mistakes that you can avoid when buying a home for yourself. Even if you've bought a home in the past, I still recommend that you tune-in as the real estate market has likely changed since you last bought a home. Join me in welcoming today's guest, Limor Markman, as she shares the latest money saving tips and ways to protect yourself, whether you're buying a home for personal use, or as an investment. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Have a mortgage question? Ask our own in-house expert, Sean Cooper over at www.BuildWealthCanada.ca/sean Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

On this episode, we cover some of the top financial mistakes Canadians make, as well as common misconceptions that may be holding you back in accelerating your investments and net worth. Links and Resources: Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. The Canadian Financial Summit is available at CanadianFinancialSummit.com Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

In this episode, we talk about what a robo advisor is, and how it can be a lot less expensive than the traditional approach of investing in high-fee, actively managed mutual funds. I find robo advisors to be the easiest way to invest in Canada, but this does result in higher fees than if you were to just buy the investments yourself (which is actually really easy). I personally just buy the investments myself to get the lowest fees and pay the least tax possible (You can see exactly how I do it over at www.BuildWealthCanada.ca/invest.) With that said, I realize not everybody wants to learn how to actually be a passive investor and get the lowest possible fees, and so robo advisors can be a good option if you value simplicity of fees. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Questions Covered: 1. For those just getting started in investing, can you explain what a robo advisor service is, and especially why we as Canadians should care? 2. When you build investment portfolios for Canadians, why are ETFs such a core part of your portfolios? (perhaps explain what an ETF is first for all the listeners just getting started with this) 3. Nest Wealth mentions that you manage the money based on proven investing principles and Nobel Prize-winning theories. Can you elaborate on the Nobel Prize-winning theories component? 4. One thing I noticed on your Nest Wealth site, is that you actually list all the ETFs you buy (which is nice, I really like that transparency), but if I'm just a regular Canadian, why don't I just buy the ETFs myself through a discount brokerage (especially since some discount brokerages let me buy ETFs for free) and then save on the fees that Nest Wealth charges? 5. Anybody following the financial services industry knows that there are a LOT of robo advisor services out in Canada. What sets Nest Wealth apart from all the rest? 5.a. One of the things that really intrigued me when I first heard of you guys is that you have a flat fee model. For those not familiar, can you explain what that is and why it's actually a pretty big deal? 5.b. You mention that your portfolios are "custom built" unlike your competitors. Can you elaborate how this works and why it's so important? 6. I imagine that a big concern Canadians have is that with all these robo advisor companies out there, it's totally conceivable that not all of them will survive long term. Because of this, it wouldn't surprise me if some Canadians are holding back from investing because they are afraid of losing all their money if something was to ever happen. Can you speak to this concern? 7. What customer support do you offer? Ex. If somebody has questions while going through the automated portfolio building process? What about after all is set up? 8. One of the other things that intrigued me was that on your site you mention that as a client you get your own portfolio manager that you can speak with, text or call. What types of things is a Portfolio Manager ideally suited to help you with? And what types of question are beyond the scope of a Portfolio Manager like this? (I'm trying to gauge what kind of other professionals you need on your team apart from Nest Wealth). 10. I went through Nest Wealth and had it build a portfolio for me. I noticed that there were different goals that you can select, and I assume Nest Wealth will optimize your portfolio, depending on your goal correct? How does Nest Wealth change what portfolio it recommends depending on whether somebody is savings for retirement vs is already retired and now needs the income instead of growth? What about if they're saving for something like a down payment on a home or post-secondary education for their child? What's the strategy behind those types of portfolios? 11. I noticed Nest Wealth will build your portfolio based on your questions, but it won't actually tell you whether you will be able to actually retire by an age you specify, and whether your income in retirement is sustainable. Is that because that is an area where you actually need a financial planner to do a more in-depth, 1-on-1 personalized analysis with you? 12. How is the MER absorbed? Is that covered by the monthly fee? What about other fees? 13. To close things off, who is Nest Wealth not for? ex. Those with credit card debt? 13. Who is Nest Wealth ideally for? What type of person benefits most from what your service?

Today I'm excited to have Sean Cooper on the show. There's a good chance that you've already heard of Sean whether it's on the radio, TV, or the internet as Sean is the guy that bought his first house when he was just 27 and paid off his mortgage at 30 in 3 years. As you may know, my wife and I also paid off our mortgage early at the age of 28 and 29 (you can learn more about it by checking out past episodes of the show). But what makes Sean's story interesting, is that he did it in Toronto (which as we all know has some of the highest real estate prices in Canada), and he did it with a single income. That to me is really impressive, so it was fun to pick Sean's brain about how he did it, and the strategies he uses and recommends to save money and get out of debt. UPDATE: Since publishing this episode, Sean has become the show's Resident Mortgage Expert. If you have a mortgage question, you can speak to Sean for free over at www.BuildWealthCanada.ca/sean A bit more about Sean: He's an in-demand personal finance journalist, money coach and speaker. His articles have been featured in publications such as the Toronto Star, Globe and Mail, MoneySense and Tangerine's Forward Thinking blog. He makes regular appearances on national radio and television shows to discuss personal finance, real estate and mortgages. He's also the author of the new book, Burn Your Mortgage, which helps anyone —from new buyers to experienced homeowners — pay down their mortgage sooner and live well while doing it. Links and Resources Get a free one-on-one meeting with Sean to get your mortgage and home buying questions answered at www.BuildWealthCanada.ca/sean Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Questions Covered: To start things off, tell us your story and the steps you took that got you mortgage free at such a young age. Tell me about the moment when you realized that you need to write a book. What motivated you to write it in the first place? With the house prices being where they are, and the frenzy that we seem to be experiencing in the real estate market right now, do you think it still makes sense for millennials to buy a home? (as opposed to renting for a lot less and investing their excess cash flows). Are there exceptions? Are there some creative ways that you recommend Canadians (and millennials in particular) can get into the real estate market? Tell me about the internal dialogue that you had in your head, with yourself, when deciding whether you should pay off your mortgage quicker or invest. Now that you are debt free, are you also financially independent? Tell me your definition of financial independence. If yes, how do you structure your investments, cash flows, etc.? What are you doing with the cash flows that aren't going towards your mortgage anymore? -What are you investing in? -Your strategy. Reasoning? -How are you using registered accounts? Are you using non-registered too? Have you considered doing a home equity line of credit (HELOC) on your property and using the proceeds to invest? Are you thinking of buying more rental properties? What's next for you? To finish things off, tell us more about your book and what we can expect to learn from reading it. Where can we follow you if we want to learn more?

Today we have Susan Daley on the show and we're going to talk all about early retirement, such us how to pull it off, what to look out for, and some of the most common mistakes that Canadians make when trying to plan this out. Susan is an Associate Portfolio Manager at PWL Capital in Waterloo, where she provides financial planning and investment management services to a wide range of clients. She's also an Honours BBA graduate from Wilfrid Laurier University, which is actually where I graduated from too, so it's always fun to chat with a fellow grad about best practices when it comes to financial planning and investing. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest You can reach out to Susan at [email protected] and she's at www.pwlcapital.com/waterloo Questions Covered: For somebody that is saving money for a large purchase like a house, wedding, a car, etc., where do you suggest they keep their money to let it grow safely? What to consider when deciding between RRSP vs TFSA vs non-registered? What if you're planning to retire or semi-retire early (ex. 30s or 40s where it's still a long time before government benefits come in). Does that change anything in terms of what accounts you put the funds in? Is there any time that you would use a non-registered account before using an RRSP and TFSA? How to determine if you've saved enough to retire early? Once you hit that number, what changes do you make to your portfolio since now you're focused on sustainability instead of growth (changes in terms of asset allocation, and the investment products you choose). Would the answer be different if the person is in their 60s and about to receive government benefits vs if they are retired much earlier (ex. 40s)? What cash cushion do you recommend for those in retirement and semi-retirement? Some advisors recommend real return bonds for those in retirement. What are your thoughts? How to decide what accounts to take money from in retirement? (RRSP vs TFSA vs non-registered)

In this episode, we're going to continue covering the subject of "How to Not Run Out of Money in Retirement", specifically for Canadians. This is from a live webinar that I did for Canadian MoneySaver Magazine so in case you weren't able to make it, I wanted to provide you with as many tips as possible from that presentation in audio form. If you missed part 1 of the series, it's the episode right before this one (episode 31). Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Bonuses for Build Wealth Canada Listeners: You are eligible to receive a free 1-year paid subscription to Canadian MoneySaver Magazine by signing up for the free 5i Trial at www.buildwealthcanada.ca/trial. If you would like more information, just listen to the beginning of the episode or you can learn more about 5i Research below: In case you're new to the show, 5i Research is Canada's only conflict-free investment research network. What that means is that as you know, there is a lot of conflict of interest in Canada when it comes to people telling you what to invest in. So let's say you go to your bank and ask to speak to a financial advisor because you want to invest some money. Well what many of them will do, is try to sell you their investment products like their mutual funds for example. You'll get a well-rehearsed sales pitch, but what they don't tell you is how ridiculously high their fees are compared to just investing the money yourself using ETFs or stocks. There's also a conflict of interest because they are incentivised (either through bonuses or getting a promotion at work) to sell you products that make the company the most money, but may not necessarily be the best fit for you and make you the most money. So here's the thing, why would you ask someone what you should invest in when that person has a financial incentive to sell you what makes them the most money, as opposed to what makes you the most money so that you can, for example, retire early because you're not paying ridiculous fees on underperforming investments? Where 5i Research comes in is that they actually have a team of analysts that do the research, and all the financial math and analysis for you on the best investments to own (whether it's the top stocks or the top ETFs in Canada), and whether you're a growth focused investor, or a dividend focused investor. What makes them stand out, is that they don't try to sell you any investments, so they're not getting some commission or fee on the back-end, and the result is you getting unbiased investment analysis and insights, where you never have to worry that they are recommending something just because they are getting some sort extra compensation on the back-end. What's also neat, is that you can ask them questions, like if you're considering a particular stock or ETF. Or, maybe you have no clue what you should invest in, and in that case they can recommend some model portfolios for you depending on your risk tolerance, objectives, and whether you want to invest in ETFs, stocks, or both. They actually already have over 54,000 answered quested in their database, so you can actually see what others are asking too about the stock or ETF that you're considering buying, and see the answers to those too. Now as a listener of the Build Wealth Canada Show, you can actually get full access to everything for free for 1 month. In other words, you get full access to all the stock and ETF recommendations, all the model portfolios, as well as 5i's database of over 54,000 answered investing questions. I definitely encourage you to check it out as at the very least you'll learn a ton and it's all free anyway. And if for some strange reason that's not enough, I've also arranged for Build Wealth Canada listeners to get two extra bonuses: Bonus 1: The first, is that when you sign up for the free trial, you'll also get a 1 year, paid subscriptions to Canadian MoneySaver Magazine, absolutely free. This is the exact same magazine that you see at Chapters and other stores all across Canada, and you get the entire subscription, for free, for an entire year, no strings attached. Bonus 2: The 2nd bonus, is that you'll also get 1 question credit for free, on the 5i Research site. This means you can actually ask 5i's team of analysts your most pressing investment question and they'll answer it for you, using the knowledge and investment tools that you and I simply don't have access to. So enjoy, it's all free, you'll learn an absolute ton, and you can get it all by going to www.BuildW

How Much Do You Need to Retire? No matter what age you are, chances are you've asked yourself this critical question at some point. The stakes are high, and there are no do-overs, so how can you best prepare yourself now to ensure that you have enough to live the lifestyle you want in retirement? Join me as I dive into the best practices and key factors to consider when figuring this out for yourself. Is there a magic retirement number that you should aim for with your investments? What levers can you pull to retire early, and sustain that retirement long-term? Whether you're decades away from retirement or are getting close to that big day, join me to learn some of the key considerations to ensure that you have enough to retire. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

Today we have a very special guest who has worked as an advisor for some of Canada's largest banks, giving him some great insider information on how we can all save money when dealing with the Banks. His name is John Kalos and he is an unbiased, non-commission, fee-for-service financial planner. John is the financial planner that I used before executing our early retirement, and he offers all Build Wealth Canada listeners a free 30-minute consultation so that you can get some of your financial questions answered too. You can sign up to speak with him for free over at www.BuildWealthCanada.ca/john Links and Resources You can get a free 30 minute call with John to get some of your questions answered by going to www.BuildWealthCanada.ca/john Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Questions Covered: When it comes to safe investments, what are the options we have as Canadians, and how can we get the best rates at the bank? (ex. if we're saving money for education, a downpayment, a car, etc.) Do you then keep them within an RRSP or TFSA account at that bank? (ex. If you're saving for a downpayment) When it comes to negotiating with the bank, in what areas do the banks tend to have some flexibility? How hard can you generally push them to get the discounts, and do you have any tips that can increase the chance of them agreeing? (ex. Showing comparable mortgage rates at other lenders). Areas to discuss: Mortgages Lines of credit Bank fees Investment products Are there any marketing/sales traps to look out for? (ex. Being offered life insurance together with your mortgage) You mention in your podcast that there is potential conflict of interest between banker/advisor and their clients. Can you elaborate on this and give us a few actual examples? What does a financial planner do at a bank vs someone like a fee for service or fee-based financial planner? What are the top ways you recommend to save money on your investments? What do you recommend to your clients? (ETFs? Individual stocks? Focus on dividends,? growth? etc.)

In this episode, I've pulled together the newest numbers of what you can expect from your investments. These are based on historical returns using several different highly reputable sources that I personally use and trust. In other words, this isn't some subjective opinion of what one person thinks you'll get on your investments. Instead, it's actual data, studies, and reports that reputable sources in the industry have put together, and is what I personally use. I've also created a summary where you can see the ranges of possible investment returns based on the different sources (which use different times frames and assumptions). You can get all that by going to the episode's show notes over at www.BuildWealthCanada.ca/29 Links and Resources The summary, graphs, and text version of this is available in the episode's page at www.BuildWealthCanada.ca/29 Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

When it comes to the Build Wealth Canada show, there are 2 questions that I get asked more than any other. The first is how to actually buy ETFs, so how to actually be an index investor, what tools to use, which ETFs are great ones to consider, and how to actually do it step-by-step. So that's why I built the course (to basically answer this question). If you're interested, you can check it out at www.BuildWealthCanada.ca/invest Now the 2nd question that I get most often is from Canadians who are either in their 50 or 60s, are about to retire (or will be retiring in 10 years or less) and are looking learn how to do it properly. So how do you withdraw from your portfolio properly to pay as little tax as possible? What are some best practices and things to look out for so that you don't run out of money during your retirement? Obviously when it comes to retirement planning like this, things gets really complicated, and the risks are ridiculously high since you're basically at a life stage where you're going to start spending the money that you've been saving and investing throughout your whole life. So, the stakes are really high. We're dealing with a lot of real money here, and the terrifying thing is that there are no do-overs. In other words, if you mess this up, you can't just hit the rewind button, get all your money back and try again. Because of this, it's extremely important to get this right as the worse case scenario is basically you running out of money during retirement. Also if you do run out of money, then going back to the workforce may not be an option due to the physical and/or mental health that you may be in at that time. Employers might also have a preference to hiring someone younger that they can pay less money for, and groom to stay with the company long term (unlike you since you'll be back in retirement at the first possible opportunity). Also with all the development in medical technology, now more than ever we are faced with the new challenge of living too long and outliving our money. This makes having a good financial plan that you review with a professional periodically even more important to ensure that you are living the type of lifestyle that you want in retirement, while minimizing the risks of running out of money. Now I'm not trying to instill fear or anything like that, but I say all this just to help anybody out there realize that this is critically important, doing it wrong can be catastrophic to you and your partner's life, and so you have to take accountability and responsibility for your financial situation, and not just hope that everything will turn out okay. So with that said, I'm of the opinion that since the stakes at this stage of life are so high, you need a customized financial plan specific to your particular situations. This is definitely one of those times where you can't just read a blog post about the top 10 retirement tips and assume that you're all set, and that some "general" guidance is good enough for you as well. You simply can't do this because the stakes are too high (i.e. you running out of money in retirement), and there are too many variables in your life that can change the plan drastically. For example: The assets and liabilities you have The income sources you'll have in retirement The dependents you'll have Your health Your goals and ambitions for retirement Inflation and market returns that you've endured in your lifetime The emergency fund you have The lifestyle you want in retirement Family dynamics like marriages, deaths and inheritances Your risk tolerance and the list goes on and on. To address and help you with this, I'd like to introduce you to Sandi Martin who is a professional fee-for-service financial planner here in Canada. Sandi has been requested by listeners of the show, and in this interview I chat with Sandi about the top questions that I've been asked from Build Wealth Canada listeners, especially those in their 50s and 60s that are nearing or at retirement. So enjoy the interview, and thanks for submitting the questions. Now just to give you a bit of a background, Sandi is an expert in helping Canadians answer questions specific to their situation such as: Are you on track to retire? Did you miss something in your analysis? Are you saving enough for retirement? What's the best way to take out income from your portfolio to minimize taxes (based on all your assets and income sources) How much do you need to save so that you can retire comfortably? When can you retire? Can you fully retire or semi-retire now? When should you choose to take your CPP and OAS? What kind of lifestyle can you expect when you retire based on your current savings? How can you help ensure that you don't run out of money in your retirement? Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to hel

Today I wanted to cover the subject of debt consolidation. What is it? Should you do it? and if so, then what are the options available to you? Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Questions Covered What does it mean to consolidate your credit, and in what circumstances should somebody consider doing this? A common argument against credit consolidation services is that they don't solve the underlying issue. In other words, somebody might consolidate their debt which frees up space on their credit cards or line of credit, and then they just end up taking on more debt since they haven't changed their lifestyle and habits to live a debt free life. How can someone prevent this from happening to them? Since you deal with a lot of individuals that have gotten into significant debt and are struggling to get out, what are the most common mistakes that you see people make that get them in this situation in the first place? What are you thoughts on the use of emergency funds? Some experts suggest keeping it in cash, while others suggest having a line of credit for emergencies and using any available cash to pay off the debt. Where do you stand on this debate? After paying off any high interest debt, what are your recommendations on paying off student loans and the mortgage vs investing the money for retirement? For somebody that wants to see if consolidating their credit is right for them, what is the process that they get taken through with you from beginning to end?

Questions Covered For those Canadians new to this type of investing style, can you explain what dividend investing is? When should someone consider doing dividend investing? (i.e. Is there a particular life stage when it's most appropriate?) Is there a type of person that is most suited for this type of investing? (ex. time commitment, personality, etc.) What are the pros and cons of this investing style vs something like index investing, mutual fund investing, or stock picking for growth? The idea of investing to "live off the dividends" sounds very tempting to Canadians. How realistic is this? What is actually needed to pull this off? What are some of the top mistakes Canadians make when investing in Dividends? (ex. Chasing yield) At 5i one of the things I noticed you do, is that you have sections of the site dedicated specifically for dividend investors, and I noticed that in there you recommend primarily Canadian companies. Can you explain why that is? (i.e. preferential tax treatment, anything else?) Peter said (in a previous interview) that at 5i you like companies that have a growing dividend. If somebody is researching a company themselves, how can they check if a company is growing its dividend? What are some good resources for somebody that is considering, or wants to learn how to do dividend investing? I know you guys offer a lot of help on this to 5i subscribers so feel free to talk about some of the resources that you have available for investors too. Links and Resources You can get a free 1 month trial of 5i Research by going to www.BuildWealthCanada.ca/trial. As a "thank you" for trying it out and checking out their research, you'll also receive a free 1 year subscription to Canadian MoneySaver Magazine (Canada's largest personal finance and investing magazine). Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

In this episode, I cover several mistakes and misconceptions that held me back from maximizing the growth of my investment portfolio. By sharing my mistakes and what held me back, I hope that it will help you avoid these same mistakes. Fortunately, things still ended up great, although not perfect, and definitely not the most efficient in terms of net worth growth. These are the lessons about the money left on the table, and what I would tell my younger self. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

This episode covers how to protect yourself from overpaying in hidden investment fees, and how to ensure that you are getting unbiased advice from your financial professionals. Did you know that there is a lot of conflict-of-interest that exists with many of the financial advisors here in Canada. We also have one of the highest investment fees in the world. While there are ways to bypass these fees, you need to know what to look for so that you can spot if your advisor is recommending a poor investment that is primarily designed to maximize their firm's profits, instead of growing your net worth. Join me as we cover some of the most dangerous traps that exist for us Canadians in the investing and financial services industry. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

My guest today is Miranda Marquit who is at the top of the heap when it comes to being a freelance writer and professional blogger. She is the author of her book called Confessions of a Professional Blogger, and has basically achieved what many freelancers just starting off are hoping to achieve. I thought it would be great to get her on the show to give some advice to aspiring freelancers and bloggers. Miranda is also very honest, so it's really great to hear someone tell it like it is, instead of hearing some fairy-tale advice that doesn't coincide with reality. Miranda also talks about the importance of having a website to build your brand (whether you're a freelancer or someone who is trying to have their own business). You can check out my free step-by-step video course on how to build your own website here: Buildwealthcanada.ca/build or if you want to learn what is involved in started a side-business in Canada you can learn it all here: BuildWealthCanada.ca/business. Links and Resources Covered Miranda's Book: Confessions of a Professional Blogger Free Video Course: How to Start a Side Business in Canada Free Video Course: How to Build a Website from for your Freelancing Practice and/or Side-Business Miranda's Sites: mirandamarquit.com plantingmoneyseeds.com

Today I have Dragon's Den winner Lee Renshaw on the show, and we're going to talk all about tips and strategies that you can implement if you want to start your own business on-the-side here in Canada. One of the things I noticed based on the emails I received from listeners of the show, is that a lot of Build Wealth Canada listeners would actually like to start their own business on-the-side here in Canada but aren't exactly sure how to do it and how to set it all up since a lot of the information out there is specifically for the US, and there isn't a good step-by-step guide out there specifically for Canadians. Because of this, I decided to built a free step-by-step video guide for you about everything you need to know about setting up your own side business here in Canada. You can check out the full video guide over at BuildWealthCanada.ca/business. In addition to that, it's a good idea to have your own website for your new business on-the-side, so I've created a 2nd free video guide showing you step-by-step on how you can easily build your own website whether you're looking to start a blog, provide a service, or sell a product. What's also neat is that in the guide, I'm actually building a real-life website for a real business, and I recorded step-by-step how I do it so that you can follow along, and build your own website. I'm sure you'll love it, it's totally free, and the link to that guide is BuildWealthCanada.ca/site Link's & Resources Covered Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest How to Start a Side Business in Canada Video Guide: Buildwealthcanada.ca/business How to Build Your Website Video Guide: Buildwealthcanada.ca/site Lee's Site: www.risegear.com/ Question's Covered Tell us your story and how did you end up dominating Dragons' Den? Let's fast forward. What kind of an impact did being on Dragons' Den have? How is your business doing now? For those wanting to have a business-on-the-side, or eventually their own full-time business, what are some tips you have for them when they're just getting started. What specifically did you have to do to start your own business here in Canada? What are some top mistakes you made, and how would you have done things differently knowing what you know now? What are your key success factors that got you to where you are today? When it comes to marketing and promoting your business, what is working well for you now? (marketing channels, specific tactics, etc.) If you had to start over completely from scratch where your business didn't exist, and all you had was $500 saved up, where would you invest your time and money to start your business Where can we learn more about you and Rise Gear?

Today I have author Valerie Rind on the show and we're going to talk all about how to avoid getting into difficult financial situations when it comes to friends and family. Valerie has interviewed a ton of people who have actually gone through these types of problems in their lives, and is going to share with us how we can avoid some of these catastrophic financial issues that can creep up when we're dealing with friends, family and co-workers. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Valerie's Book: Gold Diggers and Deadbeat Dads: True Stories of Friends, Family, and Financial Ruin Velerie's Site: valerierind.com

This is part 2 of the interview with Peter. If you missed part 1, it's the episode right before this one. Episode Description: Today I'm thrilled to have Peter Hodson on the show who is the owner of 5i Research, the Canadian MoneySaver Magazine, and in his investment career, has managed over $1-billion dollars in assets. I've always wanted to have Peter on the show to pick his brain about investing best practices here in Canada, and see what he learned over his decades of professional investing. Peter and his team have also been generous in providing Build Wealth Canada listeners with a special offer where you can get your investment questions answered, and learn more investment best practices by getting a free trial membership over at www.buildwealthcanada.ca/trial. As a "thank you" for taking a look at their research, you'll also receive a free 1 year digital subscription to Canadian MoneySaver magazine (Canada's largest personal finance magazine). Links and Resources Free 1 month trial plus free 1 year subscription to Canadian MoneySaver Magazine: www.buildwealthcanada.ca/trial Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Questions Covered: Can you start by telling us your background, and your story from your days on Bay Street, to now running 5i Research and owning Canadian MoneySaver magazine? In Canada it seems that investors fall into one of 5 main categories. They either: Buy mutual funds Buy indexes Buy individual stocks for growth Buy individual stocks for dividends Buy a combination of the above. Can you walk us through these options and how do we decide what type of investing is right for us? Before we dive into more detail and talk about 5i, what are some key investing lessons that you've learned over the years that we can apply to our own investing lives? Let's talk about 5i Research. For those Canadians that haven't heard of 5i, can you tell us more about what it is that you do, and how is 5i different? You have a model portfolio for growth, and another for income on 5i. Can you explain the difference between the two and how do we know which one to follow based on our situation? How do we choose between a growth vs a balanced portfolio? How have these portfolios been performing compared to the index? Why don't I just invest in indexes instead of following the 5i portfolio? Is it just because of the potential for higher returns or are there some other advantages or disadvantages? (ex. greater diversification among different industries) What if I don't want to be researching and analyzing individual companies. Is 5i still a good fit for me? (i.e. can I just model your portfolio and not do anything else other than re-balance?). Or, do I need to be actively researching the companies you suggest after your initial recommendation to ensure that they are still a good fit? Is your portfolio just for Canadian companies? If so, what sort of asset allocation do you suggest outside of Canada for diversification purposes? Would you recommend using the 5i portfolio completely for the Canadian portion of our portfolio, and then use ETFs for international exposure? ETFs that model a broad market index can now be purchased for free from certain discount brokerages here in Canada. If we are to follow the 5i portfolio, then we now have to deal with paying transaction costs every time that we purchase a stock. If somebody would like to invest a set percentage of their salary every month, what's the step-by-step process that they should take to do it most efficiently and to minimize fees while still being diversified (which is hard to do if you're only buying one company or two at a time)? Would this workflow/strategy change depending on how much someone has to invest every month? What if we have a lump sum to invest? Should I use my TFSA or RRSP for the 5i portfolio? What about using an unregistered account? Should I ever be using that instead? (i.e. preferential tax treatment on dividends). Does this vary based on whether I follow your income portfolio vs your growth portfolio? Your portfolio has done really well. What if we're concerned that we've missed the boat and are now buying these companies when their prices are already at their peak (especially for those companies that have done really well)? What are your thoughts on asset allocation between stocks and bonds? Do you recommend bonds? If not, what do you suggest? You assign a letter grade to the stocks in your portfolio too. Is that more if we aren't following your portfolio and are just picking and choosing stocks

Today I'm thrilled to have Peter Hodson on the show who is the owner of 5i Research, the Canadian MoneySaver Magazine, and in his investment career, has managed over $1-billion dollars in assets. He's also been called "The Warren Buffett of Canada" by the Globe and Mail. I've always wanted to have Peter on the show to pick his brain about investing best practices here in Canada, and see what he learned over his decades of professional investing. Peter and his team have also been generous in providing Build Wealth Canada listeners with a special offer where you can get your investment questions answered, and learn more investment best practices by getting a free trial membership over at www.buildwealthcanada.ca/trial. As a "thank you" for taking a look at their research, you'll also receive a free 1 year digital subscription to Canadian MoneySaver magazine (Canada's largest personal finance magazine). Links and Resources Free 1 month trial plus free 1 year subscription to Canadian MoneySaver Magazine: www.buildwealthcanada.ca/trial Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Questions Covered: Can you start by telling us your background, and your story from your days on Bay Street, to now running 5i Research and owning Canadian MoneySaver magazine? In Canada it seems that investors fall into one of 5 main categories. They either: Buy mutual funds Buy indexes Buy individual stocks for growth Buy individual stocks for dividends Buy a combination of the above. Can you walk us through these options and how do we decide what type of investing is right for us? Before we dive into more detail and talk about 5i, what are some key investing lessons that you've learned over the years that we can apply to our own investing lives? Let's talk about 5i Research. For those Canadians that haven't heard of 5i, can you tell us more about what it is that you do, and how is 5i different? You have a model portfolio for growth, and another for income on 5i. Can you explain the difference between the two and how do we know which one to follow based on our situation? How do we choose between a growth vs a balanced portfolio? How have these portfolios been performing compared to the index? Why don't I just invest in indexes instead of following the 5i portfolio? Is it just because of the potential for higher returns or are there some other advantages or disadvantages? (ex. greater diversification among different industries) What if I don't want to be researching and analyzing individual companies. Is 5i still a good fit for me? (i.e. can I just model your portfolio and not do anything else other than re-balance?). Or, do I need to be actively researching the companies you suggest after your initial recommendation to ensure that they are still a good fit? Is your portfolio just for Canadian companies? If so, what sort of asset allocation do you suggest outside of Canada for diversification purposes? Would you recommend using the 5i portfolio completely for the Canadian portion of our portfolio, and then use ETFs for international exposure? ETFs that model a broad market index can now be purchased for free from certain discount brokerages here in Canada. If we are to follow the 5i portfolio, then we now have to deal with paying transaction costs every time that we purchase a stock. If somebody would like to invest a set percentage of their salary every month, what's the step-by-step process that they should take to do it most efficiently and to minimize fees while still being diversified (which is hard to do if you're only buying one company or two at a time)? Would this workflow/strategy change depending on how much someone has to invest every month? What if we have a lump sum to invest? Should I use my TFSA or RRSP for the 5i portfolio? What about using an unregistered account? Should I ever be using that instead? (i.e. preferential tax treatment on dividends). Does this vary based on whether I follow your income portfolio vs your growth portfolio? Your portfolio has done really well. What if we're concerned that we've missed the boat and are now buying these companies when their prices are already at their peak (especially for those companies that have done really well)? What are your thoughts on asset allocation between stocks and bonds? Do you recommend bonds? If not, what do you suggest? You assign a letter grade to the stocks in your portfolio too. Is that more if we aren't following your portfolio and are just picking and choosing stocks? For our ETF portion of the portfolio, what are yo

Questions Covered: You're very involved in helping others get out of debt. Can you tell us a little bit more about yourself, and how you started helping others in this area? Getting out of debt has a very large psychological component. What are some of the psychological barriers that you found keep people in debt? Can you tell us more about the methodology that you follow in your life and your program to help others get out of debt? Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Book: Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence

Today I'm really excited to have Rob Carrick on the show, who is the main Personal Finance Columnist at the Globe and Mail. Rob is also the author of five personal finance books for Canadians, and all in all is easily one of the most respected and well known personal finance experts here in Canada. Today we'll cover whether you should be putting your savings in an RRSP, a TFSA, or use it to pay down your mortgage quicker (if you have one). We also cover: Where you should be investing your money? Where to keep your money safe if for example, you're saving for a downpayment on a house? What should your priorities be when it comes to debt? What asset allocation should you go with? (ex. stocks vs bonds mix) Links & Resources Covered: Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Rob at the Globe and Mail: http://www.theglobeandmail.com/authors/rob-carrick Rob's Site: http://www.robcarrick.com/ Rob's Books: Rob Carrick's Guide to What's Good, Bad and Downright Awful in Canadian Investments Today How Not to Move Back in With Your Parents: The Young Person's Complete Guide to Financial Empowerment How to Pay Less and Save More For Yourself: The Essential Consumer Guide to Canadian Banking and Investing

This is part 2 of the interview on The Student's Guide to Personal Finance and Post-Secondary Education with Kyle Prevost. If you missed part 1, it's the episode right before this one. Today we have arguably the #1 expert in Canada when it comes to personal finance for students. Whether it's about saving money as a student, or setting yourself up for success with your post-secondary education, we cover it all in this in-depth two part series. My guest Kyle Prevost is not only a teacher, but has also been featured in the Financial Post, The Globe and Mail, The Toronto, Star, MoneySense Magazine, and many many more. He is also the co-author of the book "More Money for Beer and Textbooks" where he teaches students who are about to enter post-secondary education (and those already there) how to: Make the right decisions so that you can have a successful career after graduating Make your dollars stretch further while you are in school Set yourself up for financial success both during school, and when you graduate Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Kyle's Book: More Money for Beer and Textbooks

Today we have arguably the #1 expert in Canada when it comes to personal finance for students. Whether it's about saving money as a student, or setting yourself up for success with your post-secondary education, we cover it all in this in-depth two part series. My guest Kyle Prevost is not only a teacher, but has also been featured in the Financial Post, The Globe and Mail, The Toronto, Star, MoneySense Magazine, and many many more. He is also the co-author of the book "More Money for Beer and Textbooks" where he teaches students who are about to enter post-secondary education (and those already there) how to: Make the right decisions so that you can have a successful career after graduating Make your dollars stretch further while you are in school Set yourself up for financial success both during school, and when you graduate Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Kyle's Book: More Money for Beer and Textbooks

Today I'm excited to have one of the top personal finance bloggers in Canada on the show. Tom Drake is the president of Drake Media Inc. and the owner and manager of dozens of personal finance sites, including his primary site: MapleMoney where you can learn more about the best credit cards in Canada, as well as other personal finance best practices. He has been called the godfather of personal finance, and today I'm thrilled to have him on the show to talk all about the best practices when it comes to using credit cards, as well as the top credit cards that he recommends. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Tom's site: MapleMoney (formerly Canadian Finance Blog) Questions Covered: What are some best practices when it comes to credit card use? Some credit cards have perks like extended warranty on purchases or travel insurance. How do you take advantage of these benefits? Is it a hassle to claim them? Many credit cards are free while others have a fee but have better rewards. Is there an easy way of determining whether it's worth to get the paid option? What if you can't pay off your entire balance at the end of the month? What are some options you'd recommend if you actually need to borrow some money (i.e. HELOC, secured loan, unsecured loan). Your thoughts on saving for an emergency fund vs paying off credit card debt. What are the advantages and disadvantages of having credit cards? Should we be concerned about credit limit utilization? (ex. keeping credit limit utilization under 30%) What are the top credit cards in Canada that you'd recommend?

Today I'm really excited to have Bruce Sellery on the show from MoneySense Magazine and Moolala.ca, to tell you all about how to save and invest for your retirement. Bruce is a bestselling author, and you might have seen him on TV as he's been on CTV, CNN, BNN, MSNBC, as well as the Lang & O'Leary Exchange with Kevin O'Leary from Dragon's Den and Shark Tank. He is also the author of the book "The Moolala Guide to Rockin' your RRSP" which is a fantastic book that I'd recommend to everyone. In it, he actually does a great job of inspiring you to take action when it comes to planning and saving for your retirement (which is great if you know this is something you should be doing but just aren't feeling motivated to do it). He also provides a great step-by-step guide that you can actually implement to pull it all off. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Bruce's Latest Book: Moolala Guide to Rockin' Your RRSP: Start Rockin' in Five Easy Steps Bruce First Book: Moolala: Why Smart People Do Dumb Things with Their Money – and What You Can Do About It Bruce's Articles at: www.Moneysense.ca Bruce's Site: www.Moolala.ca Questions Covered 1. Why should Canadians even care about saving for retirement through their RRSPs and TFSAs?. 2. What are the top mistakes Canadians make when it comes to their RRSPs, and retirement planning in general? 3. Tell us about the 5 steps in your book that listeners can use to retire early. 4. For someone that is looking to buy their first home: They may want to save money for a down payment inside their RRSP since they can withdraw it when they're ready to buy using the Home Buyers Plan. In this case, what should they put their money into? (i.e. bonds, bond ETFs, GICs?) Especially considering interest rates are low and Canadians are worried about getting hurt on bonds if rates go up. GIC rates are very low too so it doesn't seem very appealing for most. What about those Canadians that are getting very close to retirement? Is the strategy different for them? In other words, what are the best safe options in the current low interest rate environment? 5. RRSP loans: What are they and when is it a good option? 6. How to factor in inflation when doing retirement planning calculations? (i.e. Would you just use the anticipated rate of return and subtract out inflation? Or use some other method?) 7. Is there a way to be able to take some of your spouse's RRSP contribution room if you're in a higher tax bracket? 8. Your thoughts on using annuities for retirement? (please define annuities first) 9. Your thoughts on using broad market index funds or ETFs vs buying smaller indexes like small cap stocks or different bond ETFs?

This is part 2 of the interview on How to Retire Early, with MoneySense Senior Editor Julie Cazzin. In Part 1 we covered the beginner level questions. In part 2, we take it up a notch and get into the more intermediate and advanced level questions. If you missed part 1, it's the episode right before this one. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Julie's Articles on MoneySense Questions Covered: What are some top tips you can give to Canadians that want to retire early? How can we figure out if we have enough to retire early? What are some top mistakes someone can make if they want to retire early? What are some top mistakes someone can do if they are already retired? (whether it was early retirement or not) While saving for an early retirement, would you recommend index investing by purchasing broad market ETFs or funds, or do you recommend a different strategy? (ex. dividend investing) While saving for an early retirement, would your asset allocation be different compared to someone that is planning on retiring early? What are some of the unique challenges that we have to worry about if we are planning to retire early vs doing the more traditional retirement at age 65. (i.e. Impact of CPP, OAS, and pensions come to mind). Once we manage to retire early, what suggestions can you make in terms of asset allocation? Your thoughts on a safe withdraw rate? How would you suggest using TFSA, RRSP, and unregistered accounts while saving? How would you suggest using TFSA, RRSP, and unregistered accounts while retired early? What are annuities and is it possible to purchase annuities here in Canada if we are a young retiree?

Today I am REALLY excited to have none other than Julie Cazzin on the show, who is going to tell us all about how we can retire early. Julie is a national award winning business and personal finance journalist. She is a founding member and Senior Editor at MoneySense. While she consistently writes some of the most popular columns for MoneySense, she's also written for Readers Digest, Canadian Business, Maclean's, and many others. Julie has also appeared as a television guest on CityTV, Rogers and CTV as well as several radio shows throughout the years, speaking on a wide range of personal finance topics. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Julie's Articles on MoneySense Questions Covered: What are some top tips you can give to Canadians that want to retire early? How can we figure out if we have enough to retire early? What are some top mistakes someone can make if they want to retire early? What are some top mistakes someone can do if they are already retired? (whether it was early retirement or not) While saving for an early retirement, would you recommend index investing by purchasing broad market ETFs or funds, or do you recommend a different strategy? (ex. dividend investing) While saving for an early retirement, would your asset allocation be different compared to someone that is planning on retiring early? What are some of the unique challenges that we have to worry about if we are planning to retire early vs doing the more traditional retirement at age 65. (i.e. Impact of CPP, OAS, and pensions come to mind). Once we manage to retire early, what suggestions can you make in terms of asset allocation? Your thoughts on a safe withdraw rate? How would you suggest using TFSA, RRSP, and unregistered accounts while saving? How would you suggest using TFSA, RRSP, and unregistered accounts while retired early? What are annuities and is it possible to purchase annuities here in Canada if we are a young retiree?

This is part 2 of the interview on How to Invest in Canada, with author and investor Dr. John Robertson. In Part 1 we covered the beginner to intermediate level questions. These were perfect for those just getting started on their investing journey. In part 2, we take it up a notch and get into the more advanced level questions. If you missed part 1, it's the episode right before this one. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest John's Blog: Blessed by the Potato Questions Covered Tell us your story and what prompted you to write your book. What are the most common mistakes you see beginner investors make when they're just starting out? What about those in their 40-50s that have been investing for a while? In your book, you make a really strong case for investing in broad market indexes. For our listeners who are just starting off in investing, can you tell them what this means, and why this is a good way to invest? What is an "asset allocation" and how would you change the asset allocation for someone fresh out of school vs someone nearing retirement? You thoughts on investing in stocks versus bonds and on creating an all stock portfolio. In a low interest rate environment like we are in right now, what are your thoughts on investing in bonds? Especially considering rates are bound to go up eventually which would hurt the existing bond prices. How are you investing now? If you could go back to when you made your first investment, what advice would you give yourself. Over the years in your investment journey, what's worked for you, and what hasn't worked so well? Was there ever a point that you didn't feel confident about what you're investing in, and the investment choices you made? Your thoughts on investing in other indexes like small cap companies instead of just broad market? (many argue that they generate higher returns at the cost of higher volatility) Thoughts on dividend investing vs broad market index investing. What is the 4% rule and what are your thoughts on it? Do you prefer a variation of it?

Today we are going to learn all about how to invest if you're living here in Canada. For all our non-Canadian listeners, we're also going to cover best practices when it comes to investing so you can definitely start applying those too and get a lot out of the show. To make this series beneficial to everyone, we're going to start with answering beginner level questions intended for those just starting out in their investing journey. As the interview goes on, we're going to progress into more advanced level questions. This way if you are already investing you'll still get a LOT out of the show by learning some best practices, and how to optimize your portfolio and save money by eliminating unnecessary fees. To help me with this, I'm very excited to have Dr. John Robertson on the show. John is a is a PhD scientist, a writer, investor, and he teaches newbie investors on how they can actually start investing. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest John's Blog: Blessed by the Potato Questions Covered Tell us your story and what prompted you to write your book. What are the most common mistakes you see beginner investors make when they're just starting out? What about those in their 40-50s that have been investing for a while? In your book, you make a really strong case for investing in broad market indexes. For our listeners who are just starting off in investing, can you tell them what this means, and why this is a good way to invest? What is an "asset allocation" and how would you change the asset allocation for someone fresh out of school vs someone nearing retirement? You thoughts on investing in stocks versus bonds and on creating an all stock portfolio. In a low interest rate environment like we are in right now, what are your thoughts on investing in bonds? Especially considering rates are bound to go up eventually which would hurt the existing bond prices. How are you investing now? If you could go back to when you made your first investment, what advice would you give yourself. Over the years in your investment journey, what's worked for you, and what hasn't worked so well? Was there ever a point that you didn't feel confident about what you're investing in, and the investment choices you made? Your thoughts on investing in other indexes like small cap companies instead of just broad market? (many argue that they generate higher returns at the cost of higher volatility) Thoughts on dividend investing vs broad market index investing. What is the 4% rule and what are your thoughts on it? Do you prefer a variation of it?

This is part 2 of the interview with Justin on how he retired at the age of 33. In case you missed it, part 1 is the episode right before this one. In the interview, we talk about everything from how Justin was able to retire at 33, to what he invests in, and we even cover other subjects like how to save money on vacations and how he manages his money so that he never has to work again. Lastly, Justin gives us some great tips that you can start applying today to retire early. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Justin has a great blog at RootofGood.com where he talks more about how he was able to retire early, and gives more details on the strategies he uses.

Today I'm excited to have Justin on the show who actually retired at the age of 33! This is a huge 2 part interview where we talk about everything from how he was able to retire at 33, to what he invests in, and we even cover other subjects like how to save money on vacations and how he manages his money so that he never has to work again. Lastly, Justin gives us some great tips that you can start applying today to retire early. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Justin has a great blog at RootofGood.com where he talks more about how he was able to retire early, and gives more details on the strategies he uses. Questions Covered: Tell us your story and how were you able to retire at 33? How much do you need to make per year to retire? What did you do during the 2008 crash? How did that affect you? You bought a lot of equities during and after the crash, how did you know that it was the right time to buy? What was your asset allocation like before retirement and after retirement? How are you withdrawing your money during retirement so that you don't run out? If you could go back to when you made your first investment, what advice would you give yourself? Are you an index investor, a dividend investor, or do you use another strategy? What would you do differently knowing what you know now? You earned 11 scholarships when you were in school, do you have any tips for students looking to get scholarships? On your blog you also talk about cost saving vacation strategies. Can you give us some tips on that? Is there any other wisdom that you can share so we can all retire earlier?

Today I'm excited to have financial planning expert Carl Richards on the show. Carl has been in the financial planning industry for over 20 years, has a column in the New York Times, the Morningstar Advisor, and he's even been featured on Forbes.com and Oprah.com. I thought it would be nice to pick his brain a little bit and pick-up some of that knowledge that he's gathered over the years. In the interview, Carl shares much of his 20 years of experience, and takes us through the financial planning process that he does with his private clients. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest Carl has a new book called "The One-Page Financial Plan: A Simple Way to Be Smart About Your Money" and you can pick it up from Amazon Here.

Welcome to part 2 of the interview with Matt Inglot (owner of Freelance Transformation and Tilted Pixel). If you missed part 1, it is the episode prior to this one. In this session, Matt covers some critical tips on how to succeed if you want to earn money-on-the-side with Freelancing. Specifically, we discuss: How to differentiate your freelancing business from the competition How to compete with cheap labour overseas offering similar work for less (think China, India, etc.) The 1 HUGE mistake that can cut your income in half How much to charge for your services How to use the power of "being local" to your advantage How to add value through responsiveness The advantages and disadvantages of freelancing versus "passive income" businesses How to find buyers for your service The power of networking and referrals The common freelancing mistakes to avoid Links and Resources FreelanceTransformation.com – Matt's company teaching the best practices in freelancing. Tilted Pixel (www.tiltedpixel.com) – Matt's professional web development company. Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

I'm really excited today as we have a very special Canadian entrepreneur on the show who is an expert on earning money-on-the-side with freelancing. In this interview Matt will tell us: How he was able to pay for his university by freelancing on the side and how he turned his company into a high end web development company The top mistakes to avoid when freelancing How to structure your freelance business so that you can work anywhere in the world, setting your own hours What to do if you don't think you have any skills that you can freelance The number one mistake freelancers make when getting started The best steps to take when you're just starting out And much more. Links and Resources FreelanceTransformation.com – Matt's company teaching the best practices in freelancing. Tilted Pixel (www.tiltedpixel.com)– Matt's professional web development company. Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

This is the comprehensive guide to all the ongoing costs you need to know about before purchasing a home. This guide will help you prepare for and budget for all these ongoing expenses. In the guide, I also give you some actual cost figures so that you at least have a ballpark figure on what the different items can cost. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest As mentioned in the episode, there is a fantastic guide written by Romana King from MoneySense that breaks down all the maintenance expenses that you're likely to incur in your home. You can view the full article here: Ultimate Home Maintenance Guide. This should give you a great idea of all the different items that you should maintain, which ones to maintain yourself, and which ones to save up for (such as a roof replacement, furnace replacement, etc.).

This is a comprehensive guide to all the costs you need to know about before purchasing a home. This guide will help ensure you don't get caught off guard by surprise expenses, or get tricked into paying any unnecessary extra fees. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest As mentioned in the episode, having a downpayment of less than 20% will require you to obtain mortgage insurance through the CMHC (the Canada Mortgage and Housing Corporation). The amount will vary depending on how small your downpayment is. You can get the current rates directly from the source here: CMHC Mortgage Insurance When getting your mortgage ready, you can also get the exact amounts that you'll need to pay by speaking with your potential mortgage provider or mortgage broker. Since publishing this episode, we now have a resident mortgage expert on the show. If you have mortgage questions, you can get them answered for free at www.buildwealthcanada.ca/sean

In this session, you'll learn everything you need to know before deciding to rent or buy a home. Nothing is left out as we dive into the financial and lifestyle factors that you need consider before making the big decision. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. UPDATE: We now have a resident mortgage expert that can help you with your mortgage questions for free. You can book a free call at www.buildwealthcanada.ca/sean Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

This is the audio version of an article that got published on us on how my wife and I became mortgage free just after I turned 29. In it, I share some practical tips that have helped my wife and I achieve debt freedom at such a young age and they're tips that you can start applying right away in your life too. As this podcast and blog continues, I'm going to share more and more tips and guides to how we did it as well as some best practices from other experts but in the meantime, think of this as the first few steps that you can start applying immediately. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest

Welcome to the very first episode of the Build Wealth Canada Podcast! This episode is all about what you'll get out of this podcast series and what you can expect in future episodes. More specifically, the podcast series will focus on: How to become debt free in the quickest time possible (and how I did it becoming mortgage free at 29). How to master money management without spending hours entering receipts, cutting coupons, while still taking vacations, going out and enjoying life. How to invest so you can retire early (or have the freedom to do what you want, when you want). How to use your favorite hobby to make money on-the-side for guilt-free spending (restaurants, vacations, etc.), to pay-off debt, or save for an early retirement. Links and Resources Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I've personally used to help us achieve financial independence in our early 30s. They're also what we use now to optimize and manage our finances, and ensure that we're paying the lowest fees while getting solid returns on our investments. Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest