It's Personal Finance Canada

We did it bureaucrats, we saved the country from income inequality, now everyone is poor. This week we check in with several new reports on the growing trend of poverty in Canada and how 25% of people are struggling to cope with this new reality. Canadians are suffering from a perceived loss of control, increased stress and other related issues and are looking for a way back into the middle class lifestyle. If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com  DIY Investing at: https://get.modernadvisor.ca/braun-financial/ Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada   Useful Resources: New StatsCan survey: https://www.statcan.gc.ca/en/survey/household/5378 Food Banks Canada Report: https://fbcblobstorage.blob.core.windows.net/wordpress/2024/06/FBC_2024PovertyInCanada_ENG_v6.pdf

There’s only one way to truly deal with my deep emotional struggles… Shopping Spree! This week we review “In the Realm of Hungry Ghosts” by Gabor Mate and talk about how the same underlying roots of addiction influence our poor spending choices. Better understand what our brain is doing and how we try to cope through addiction, spending and other long term destructive patterns done to make each day more bearable. If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com  DIY Investing at: https://get.modernadvisor.ca/braun-financial/ Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

So when do I start having debt freedom? That’s the neat part, you don’t! This week we talk about how our culture of debt  is designed to keep us in debt and how investors profit from it. Learn about asset backed securities, various mortgage repacking strategies and other ways your debt makes other people money, or even yourself? If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com  DIY Investing at: https://get.modernadvisor.ca/braun-financial/ Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: CMHC Total Outstanding Debt Report: https://www.cmhc-schl.gc.ca/professionals/housing-markets-data-and-research/housing-data/data-tables/mortgage-and-debt/total-outstanding-debt-payment-financial-obligation-canada-cma

Oh God, not the verbal bees, I can’t take anymore of these buzzwords. This week we talk about clarity, priorities, leveling up and saying no along with other concepts Christine learned recently at a coaching event and reading two different books. We examine “10x is Easier than 2x” by Dan Sullivan & Dr. Benjamin Hardy and “Essentialism” by Greg McKeown and find out how to live with clarity and intention. If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com  DIY Investing at: https://get.modernadvisor.ca/braun-financial/ Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

This week we respond to a fan question about whether or not it’s a good idea to withdraw from an RRSP before age 71. We talk about strategies that can work and some of the pit falls that can increase taxes, lower benefits and generally waste your hard earned investment gains.   If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com    DIY Investing at: https://get.modernadvisor.ca/braun-financial/ Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada

Picking a fund is like buying an apple… why are there so many of them... Gala and Fuji are different… forget it I’ll just get this green one. This week we go behind the scenes and talk about how we evaluate and compare investment funds for our clients day to day, all without losing our sanity. We talk about how we break down geography, risk, sector, performance, philosophy and other metrics all through the lens of a clients story and financial goals in life. If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com    DIY Investing at: https://get.modernadvisor.ca/braun-financial/ Keep the conversation going on our Facebook Page and Group:  https://www.facebook.com/itspersonalfinancecanada

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

The key to retire early is to just give up… working… everyday. This week we confront a new study which shows the changing face of retirement expectations in Millennials. The classic forced march to 65 is out and a new face of retirement is emerging where people are looking to better enjoy their lives. Despite inflation, and high interest costs, and low job prospects, and unstable stock markets and no where to live; Millennials sure are an optimistic bunch. If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Toronto Star Article: https://financialpost.com/fp-work/young-canadians-think-retiring-65-outdated-concept#:~:text=Seventy%2Dfour%20per%20cent%20of,survey%20published%20by%20Wealthsimple%20Inc. Wealthsimple White paper: https://newsroom.wealthsimple.com/canadians-seek-to-redefine-retirement-years

Don’t you know DIY is the way to go with everything in life, goodbye plumbers, accountants, lawyers, and doctors, wait why am I suddenly sick, being sued, getting audited and wet? This week take you through the wild west of financial advisors and help you understand everything about pricing, designation types, services offered, specializations for planners and more. Find out from Christine what to look for in a Certified Financial Planner and how they can help you fulfill your financial goals. If you live in British Columbia, Alberta or Saskatchewan let us help you take care of the people you love and visit braunfinancial.com  Keep the conversation going on our Facebook Page and Group: https://www.facebook.com/itspersonalfinancecanada Useful Resources: Toronto Star article: https://www.thestar.com/business/personal-finance/a-financial-plan-can-cost-you-thousands-heres-how-to-get-one-on-the-cheap/article_cfd602e4-af2d-11ee-975f-4b77b9554e8a.html#:~:text=There%20isn't%20a%20standard,%241%2C200%20to%20thousands%20of%20dollars.

"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