It's Personal Finance Canada

"The commitment needs to be a commitment to grow the economy, and the budget will balance itself,” -Justin Trudeau, Leader of the Opposition, February 2014. This week it's Budget Blow-out-palooza 20-24 exclusively on Tax-Payer Per View. Cameron makes the great sacrifice and reads through the proposed budget to see what will impact your personal finances the most in the coming year and onward. Plans for converting government assets into residential properties changes to capital gains structure and more are highlighted as Deficit-a-thon continues. If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada   Useful Resources: Federal Budget 2024: https://budget.canada.ca/2024/home-accueil-en.html?utm_campaign=fin-fin-budget-24-25&utm_medium=webfeat&utm_source=canada-ca Trudeau budget comments & infamous quote from 2014, timestamp 27:38 – 34:54: https://www.cpac.ca/primetime-politics/episode/february-11-2014?id=fb166bdf-0db1-4cbf-9250-5a3e552fabbb

Of course I’ve filled and paid my taxes, I did that over a year ago. This week we cover some helpful hints for this year’s tax filing season, and to make sure you don’t forget to file! Changes to RRSP Home Buyer’s Plan, CERB repayment deductions, indexation adjustments and more thrilling line items to help you take stock of the past year and what you’ve accomplished,     If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com    Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada   Useful Resources: CRA Indexation adjustment for personal income tax and benefit amounts: https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/adjustment-personal-income-tax-benefit-amounts.html

Of course I’m ready and saved up to retire, it should only cost about $1400 to get new tires on my van, oh wait that’s not what retirement means, it’ll cost how much!?? This week we review “How to Retire with Enough Money: And How to Know What is Enough” by Teresa Ghilarducci Ph.D, an academic that can actually communicate with average people. Find out why the author thinks people need to take retirement seriously, whether its better to budget 70% or even 100% of your current expenses for retirement, how many times income you'll want to save and more. Plus we provide needed Canadian context and alternatives to help you make this all work in your own life. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Nov 2023 Stats Can Retirement savings report: https://www.statcan.gc.ca/o1/en/plus/4868-canadians-retirement-savings-trend-upward-cost-living-continues-squeeze-budgets

What is the good life? “To crush your enemies, see them driven before you, and to hear the lamentations of their women.” This week we review “The Good Life” by Robert Waldinger & Marc Schultz to see how our health and well-being are dictated by our overall happiness and connections with others. What have these authors learned from The Harvard Study of Adult Development and how do we as Canadians stack up in the most recent World Happiness Report, spoiler alert its worse than last year.   Alternate opening for those celebrating easter: Yes we’re redefining the good, good, good life, yes it’s a good, good, good life, mmmhhh yes it is good *cue 10 min droning keyboard/synth solo*. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Companion site for the book “The Good Life” https://www.lifespanresearch.org/ 2024 World Happiness Report: https://worldhappiness.report/news/world-happiness-report-2024-most-comprehensive-picture-yet-of-happiness-across-generations/

What goes up can only go higher - you have no power here laws of thermodynamics! This week we talk about the classic business cycle and show how the stages of Recovery, Expansion, Slowdown, Contraction are unavoidable yet predictable. Find out where we are not in the cycle, what to look out for and how to thrive in these regular seasons of transition, prosperity and doom. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: The Conference Board “Business Cycle Indicators Handbook” https://www.conference-board.org/pdf_free/economics/bci/BCI-Handbook.pdf  The Conference Board Leading Indicators Description of Components: https://www.conference-board.org/data/bci/index.cfm?id=2160 Bank of Canada Indicators of financial vulnerabilities: https://www.bankofcanada.ca/rates/indicators/indicators-of-financial-vulnerabilities/ OCED Main Economic Indicators (Canada on Page 82): https://read.oecd-ilibrary.org/economics/main-economic-indicators/volume-2023/issue-12_ded67b87-en#page82

If I had nickel for every time someone told me about a myth that keeps me away from more nickels, I could retire. This week we evaluate “Smoke and Mirrors: Financial Myths that Will Ruin Your Retirement Dreams” by David Trahair. Has this Canadian accountant figured out the five myths which holds us back from financial success or are we just being nickeled and dimed by outdated advice? If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

Finally, it’s time for me to make money off someone else’s debt! This week we talk about all things fixed income and whether you want it in your portfolio or not based on your risk tolerance requirements. We explain what bonds are, why they’ve been broken in the past couple of years and what to expect going forward. So, get ready to see how, if and why fixed income can fix your income.   If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com    Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

At least when the robots take over I won’t have to pick my own stocks anymore. This week we go over fresh research from Ray Dalio and see if the current tech sector is in a bubble that is about to burst or is simply overvalued. What is the state of the Magnificent 7 ( or AAAMMNT for short), what could be the true impact of AI and are we all just getting worked up about nothing? If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Ray’s research: https://www.linkedin.com/pulse/we-stock-market-bubble-ray-dalio-zpdre?utm_source=share&utm_medium=guest_mobile_web&utm_campaign=copy

The government giveth, and the government taketh away. This week we catch you up on several changes the federal government has unleashed in 2024. Changes that’ll put more or less money in your pocket, or realistically give you more so they can take even more back. Get ready for repriced carbon tax, new dental care options, increased TFSA limits and more. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Canada Carbon Rebate amounts for 2024-25:\ https://www.canada.ca/en/department-finance/news/2024/02/canada-carbon-rebate-amounts-for-2024-25.html Fuel Charge Rates: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/fcrates/fuel-charge-rates.html Who is eligible Carbon Rebate: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/cai-payment/who-eligible.html Canadian Dental Care Plan: https://www.canada.ca/en/services/benefits/dental/dental-care-plan.html

I have altered the meaning of RRSP, pray I do not alter it any further. This week Cam makes up a new acrostic about RRSP’s, Christine goes over advice from a trusty accountant, and we give our 4 factors to determine if you should make an RRSP contribution. So, dig out your trusty 2023 T1 General tax form and follow along. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: CRA tax form: https://www.canada.ca/en/revenue-agency/services/forms-publications/tax-packages-years/general-income-tax-benefit-package.html

Today is about loss, heartbreak and the idea that it won’t happen to me. Part of life is about adapting to things we wish didn’t happen and how to best prepare for the unthinkable. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

“My investment strategy used to be with ‘it’, but then they changed what ‘it’ was. Now what I’m with isn’t ‘it’ anymore and what’s ‘it’ seems weird and scary. It’ll happen to you!" This week we talk about the market and economic outlook for 2024 and see that it is a tale of two conflicting opinions. Is recession still a risk, what equities are over or under valued and how can you prepare your strategy for the coming year before everything gets weird and scary… or not. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

Make work not profit, oh that’s where I went wrong. This week we conclude our two-part series on small business and talk about how to build a realistic business plan that enhances profitability. Find out how your personal finance habits can make or break your company, and profitability, and sanity. Plus some tips from Mike Michalowicz’s book “Profit First” to help you make sure you remember to pay yourself in all of this. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Bank for Canadian Entrepreneurs: https://www.bdc.ca/en

The best way to not get laid off, is to be your own boss… I hope. This week we talk about one of the best ways to take control of your personal finances, starting a small business. Is it right for you, can you handle being a “jack of all trades,” and can you master the art of systemization? Find out what it really takes to make things work and the pro’s and con’s of being your own boss. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

This week we talk about how different stages in your life impact how you use RRSPs and TFSAs. What is strategy could be best for each age group, what will help you net the most returns and what is some of the fine print that most people don’t notice. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

A new year, a new me, a new series of mistakes to make. This week we help you start the year off right with some of our favorite personal finance tips that we think will help you in 2024. Everything from market timing, to adjusting your finances for wanted & unwanted life changes and finding low cost ways to reduce stress. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

Jingle bells, budget’s broke, bills are on the way, Oh, what fun it will be, to live in a one-horse open sleigh, hey! This week we reminisce about our most popular and engaged with podcasts of 2023 and see if our advice… ramblings, still holds up. Also we talk about what happens behind the scenes and what we are looking forward to talking about in 2024. Merry Christmas and Happy Holidays! If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

“Family, religion, friendship. These are the three demons you must slay if you wish to succeed in business.” This week we talk about Ray Dalio’s book “Principles for Success” and how you can better live your life thanks to the founder of an asset management firm. Turns out the secret isn’t finding joy through buying and crushing smaller business. Rather this is Ray’s way of guiding young entrepreneur’s on how to find true fulfillment in life. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Ray’s Life Principles: https://www.principles.com/principles/418eaeca-564f-41e8-bd90-8e0d042f28d5/#table-of-contents Video Companion to the book: https://www.principles.com/principles-for-success#play

Step:1 evaluate all of your 2023 financial decisions, Step: 2 drink coco and watch Christmas rom-com’s, Step: 3 gaze into the void, Step 4: repeat step 1. This week we go over 14 different tips you help you close out 2023 and get ready for another exciting year (can we please just have one boring year). Everything from budgeting, insurance, debt management and goal setting we help you get off on the right foot for 2024, or maybe the left foot, which ever works. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

The best way to spread Christmas Cheer, is spending loud for all to hear. This week we see how much Canadians are expected to spend over the holidays. Some are saying spending going up, pleasing Santa and others say its going down to the delight of Scrooge. Find out what factors are at play and how can you better prepare for the Christmas season without the soul crushing debt, because really, that's the gift that keeps on giving the whole year. If you live in British Columbia, let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Deloitte Holiday Retail Outlook: https://www2.deloitte.com/ca/en/pages/strategy/articles/holiday-retail-outlook.html JLL’s Canada Retail Holiday Survey: https://www.jll.ca/en/trends-and-insights/research/canada-retail-holiday-survey