The Personal Finance Show show

The Personal Finance Show

Summary: The Personal Finance Show with Beau Humphreys https://investwisely.ca The Personal Finance Show is for anyone who likes great conversations with interesting people and doesn't mind learning a little something about personal finance along the way. Host, Beau Humphreys, explores topics such as: FinTech, Financial Literacy, Financial Independence vs. Traditional Retirement, Banking, Investing, Debt, Savings, Spending, Giving, Dividends, Addiction, Mental Health, Mortgages, and Work-Life Balance.

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 Episode 27 with Brendan Lee Young and Brendan Wood | File Type: audio/mpeg | Duration: 00:47:47

There are two main types of investing, active and passive. Active investing is typically for people who have a deep understanding of the investments they are working with. They are trying to time the market by buying an investment when it is low, and growing it to the point where it's grown enough to achieve whatever profit goals they set, then selling that product for a profit. The classic buy low sell high strategy. You have to be paying attention to what's going on in the world and be ready for quick movement to avoid losses. There are people who are very good at this but it is highly risky and not for everyone. Passive investment is when you buy something and hold onto it. You pay attention as it grows over the years and you control your overall risk by keeping your investments balanced based on the amount of risk you are willing to accept. A typical passive investment is an exchange traded fund or index fund. Passive investment can be done through robo advisors automatically, they take care of the risk management for a small fee, or you can open a brokerage account and do it yourself. Typically passive investors fall into these two categories: You just want to keep it simple and live your life so you pay a robo advisor half a percent and they take care of everything. You decide you want control over your investments and also want to try to save money on fees and do it all yourself. Usually this type of person enjoys monitoring their investments and taking a hands on role, at least on a semi regular basis. But what if you fall somewhere in the middle? You don't want to spend a lot of time on your investments, but you also want to have full control and try to minimize your fees. Brendan Wood and Brendan Lee Young fall into this category. They wanted to invest their own money but realized there were so many tedious tasks that still had to be done manually through their online brokerage. So they created a tool to automate all the manual stuff. A kind of Swiss army knife for do-it-yourself investors. Both Brendans joined me from the province of New Brunswick to share their personal finance stories and talk about their new portfolio management tool Passiv. Passiv Website: https://getpassiv.com/ 5 Steps to Passive Investing for Retirement: https://getpassiv.com/blog/5-steps-passive-investing-retirement/ NEXT EPISODE If you liked this episode please subscribe to the podcast on Apple Podcasts or wherever you get your podcasts. It would mean a lot to me and it only takes a few seconds. For the show notes and any links from the episode, head over to my website investwisely.ca, and while you're there please feel free to send me a message on my contact page. Thanks so much for listening to this episode of The Personal Finance Show. I'll be back next week with Shannon Lee Simmons, founder of the New School of Finance and author of the new book Worry-Free Money.

 Episode 26 with Matt Matheson | File Type: audio/mpeg | Duration: 01:20:00

By day, Matt Matheson is a teacher and assistant principal, but when the day is done he takes on his role of Canada's newest personal finance blogger. Matt started writing at https://methodtoyourmoney.ca in October 2017 and since then has gotten the attention of some major personal finance publications. In January 2018 he was published in MoneySense magazine and just recently he was a guest blogger on the popular personal finance site https://getrichslowly.org. Matt joined me from Edmonton, Alberta to tell his personal finance story. NEXT EPISODE If you liked this episode please subscribe to the podcast on Apple Podcasts or wherever you get your podcasts. It would mean a lot to me and it only takes a few seconds. For the show notes and any links from the episode, head over to my website https://investwisely.ca, and while you're there please feel free to send me a message on my contact page. Thanks so much for listening to this episode of The Personal Finance Show. I'll be back next week with Brendan Lee Young and Brendan Wood, co-founders of a new company called Passiv.

 Episode 25 with Eric Brotman | File Type: audio/mpeg | Duration: 01:12:55

Eric Brotman understands that a relationship with a financial planner is a multi-generational thing. I talk about this a lot on the show, but it’s all about a holistic plan that takes into account all the financial aspects of your life, and it’s about reviewing the plan once or twice a year and changing it to match your goals and objectives as they change throughout the course of your life. This is an ongoing thing. It’s not a one-time plan or a transactional thing. This is a lifetime deal. In the interview, Eric didn’t list what he calls his “alphabet soup” of designation letters after his name. He’s got a lot of professional designations and that’s not a bad thing, but as he says, you can’t get a diploma in integrity and hang it on the wall. Confidence is something you earn. So yes, credentials are nice, but never blindly trust someone because they have a lot of letters after their name. Talk to them and make sure that they’re listening to your story and working towards your goals. And it doesn’t hurt to get a second opinion. I couldn’t make it down to Maryland anytime soon so Eric joined me online to tell his personal finance story. NEXT EPISODE If you liked this episode please subscribe to the podcast on Apple podcasts, google play, soundcloud or whatever app you use to listen to podcasts. It would mean a lot to me and it only takes a few seconds. For the show notes and any links from the episode, head over to my website https://investwisely.ca, and while you're there please feel free to send me a message on my contact page. Thanks so much for listening to my 25th episode of The Personal Finance Show. Here’s to the next 25 and the next 25 after that and so on. But for now, I'll be back next week with Matt Matheson - he’s an assistant principal and also teaches his 5th and 6th graders about personal finance. And he’s got a great new blog called https://methodtoyourmoney.ca. DISCLAIMER: Eric offers securities through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Kestra IS and Kestra AS are not affiliated with Brotman Financial Group or any entity referenced herein. Neither Kestra IS nor Kestra AS provide tax or legal advice. The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra IS or Kestra AS. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation. Comments concerning the past performance are not intended to be forward looking and should not be viewed as an indication of future results.​

 Episode 24 with Cait Flanders | File Type: audio/mpeg | Duration: 01:10:33

In 2011, Cait Flanders had credit card debt of $30,000, no more available credit, $100 in the bank, and had to move back in with her parents. Cait decided to reboot the blog she had previously deleted, called Blonde on a Budget, hoping that writing about it would help with her debt repayment and struggles with overspending. Since that first post in June 2011, on what has now become https://caitflanders.com, Cait paid off her $30,000 in full, got a job offer because of her blog, and came up with this crazy idea of going on a one-year shopping ban. And then after a friend wrote an article on Forbes.com about her shopping ban, she was contacted by 6 different literary agents asking if she wanted to write a book. And she did! It’s called The Year of Less, and it came out in January 2018. Cait joined me in Toronto’s Trinity-Bellwoods park to talk about her personal finance journey. NEXT EPISODE If you liked this episode please subscribe to the podcast on Apple podcasts, google play, soundcloud or whatever app you use to listen to podcasts. It would mean a lot to me and it only takes a few seconds. For the show notes and any links from the episode, head over to my website investwisely.ca, and while you're there please feel free to send me a message on my contact page. Thanks so much for listening to this episode of The Personal Finance Show. I'll be back next week with Eric Brotman, president and managing principal of Brotman Financial Group. Note: special thanks to PaullPeterson (Twitter) realtorchef (Instagram) for the picture of us in the park.

 Episode 23 with Megan Nobrega of Carrot Rewards | File Type: audio/mpeg | Duration: 00:39:29

Update: Carrot Rewards now has over 750,000 users in Canada! What if I told you that you would get a reward every time you went for a walk? Ok, sometimes I'll reward myself by walking to the donut shop, but I'm not talking about that kind of reward. Carrot Rewards (www.carrotrewards.ca) is a free app for your smartphone or Fitbit that helps you earn your favourite reward points by making healthy lifestyle choices. My favourite part of the app is the steps section. It tracks the steps I take every day to come up with my average daily steps and then rewards me with a few points every day I exceed my average. But healthy lifestyle choices aren't just about walking. As I discussed in episode 20 with Canada's Financial Literacy Leader Jane Rooney, financial wellness is just as important as physical and mental wellness. And let's not forget environmental wellness which is about living a lifestyle that respects our surroundings. For all of these other wellness topics Carrot Rewards sends you offers in the form of quizzes and surveys within the app that take only a few minutes to complete. Megan Nobrega introduced me to Carrot Rewards at the Canadian Personal Finance Conference last November so I decided to visit her at her office and find out more about her personal finance story and how she ended up at Carrot. NEXT EPISODE If you liked this episode please subscribe to the podcast on Apple podcasts, google play, soundcloud or whatever app you use to listen to podcasts. It would mean a lot to me and it only takes a few seconds. For the show notes and any links from the episode, head over to my website investwisely.ca, and while you're there please feel free to send me a message on my contact page. Thanks so much for listening to this episode of the personal finance show. I'll be back next week with blogger, podcaster and author of the brand new book The Year of Less, Cait Flanders. P.S. Once you get the Carrot Rewards app, use my code to get bonus rewards: beauh1933

 Episode 22 with Richard Peddie | File Type: audio/x-m4a | Duration: 01:11:06

Since he was 20 years old, Richard Peddie dreamed about being president of an NBA basketball team. In November of 1996 his dream became reality when he was offered the job of president of the Toronto Raptors. In 1998, the Toronto Maple Leafs bought the Raptors and Richard became President and CEO of Maple Leaf Sports and Entertainment or MLSE. Richard ran MLSE for 14 years and for 6 of those years, I worked there as Event Accountant in the Live Entertainment department, or as we liked to say, the E in MLSE. What I remember most about Richard was that he always seemed very approachable. He was always very appreciative of our work in Live Entertainment, and probably the biggest fan of the company band, which I was lucky enough to be part of for 6 years. I got to play on stage at the Air Canada Centre several times, and one time I even got to do a live performance with Alan Frew from the band Glass Tiger. I doubt that any of this would have happened if Richard didn’t approve. Richard taught me the importance of having a vision and values in business but also in the rest of your life as well. Knowing my core values helps me feel confident about big decisions I make. And I believe it’s important that when you’re applying for a job that you make sure that at least a few of your top values align with those of the company. Since retiring from MLSE, Richard has written two books. Dream Job is his autobiography and takes you through his journey in detail. 21 Leadership Lessons is his second book and though at first you might think it is a book reserved for business leaders, after reading it I realized how applicable these lessons are to everyone. I wanted to have Richard on the show because I believe his lessons about values, leadership, integrity, and yes even thank you cards, are important for everyone to hear, and can be applied to your personal life as well as your career. Today, at 71, Richard is a passionate city builder and philanthropist. He is active on Twitter and regularly writes posts on his website forabettertoronto.ca. I feel very fortunate to know Richard and grateful that he agreed to host me in his home for this interview. NEXT EPISODE If you liked this episode please subscribe to the podcast on Apple podcasts, google play, soundcloud or whatever app you use to listen to podcasts. It would mean a lot to me and it only takes a few seconds. For the show notes and any links from the episode, head over to my website investwisely.ca, and while you're there please feel free to send me a message on my contact page. Thanks so much for listening to this episode of the personal finance show. I'll be back with a new episode next week featuring Megan Nobrega from Carrot Rewards.

 Episode 21 with Lindsay and Graham Plumb | File Type: audio/x-m4a | Duration: 01:06:34

Lindsay and Graham Plumb want you to be unstoppable with your personal finances. If you’re 30 to 45 years old, for example, and you have a couple of kids, and a mortgage, maybe unstoppable is not the first word that comes to mind when you think of your finances. But this is actually the most important time of your life financially. This is the time when tracking your spending, paying down your mortgage, having the right insurance and building up that emergency fund is crucial. And then there’s the investing part - do you want to put some away for the kids’ education in an RESP account, and what about investing for retirement? Lindsay and Graham know how hard it is to wrap your head around all this stuff. They were working in the traditional mutual fund and insurance business and realized there wasn’t a whole lot of holistic financial planning available. Holistic financial planning is when someone looks at your whole financial picture. Do you have debt? Do you have existing investments that cost too much? What are your goals around money? Do you want your kids to have a education fund or would you rather they take out loans themselves in the future and learn something in the process? Do you have an emergency fund? Do you have insurance? And when Lindsay and Graham tried to help clients with basic personal finance stuff like tracking and budgeting, the company they worked for told them: We don’t do that here. How were they going to make you unstoppable, if all they were allowed to do was sell you products and then send you on your way? This is the story of Lindsay and Graham Plumb and their company Moola Financial Coaches and Advisors. (www.yourmoola.ca) NEXT EPISODE Next week on The Personal Finance Show I have a very special guest, Former President and CEO of Maple Leaf Sports and Entertainment, Richard Peddie. If you enjoy listening to The Personal Finance Show, please show your support by subscribing to the podcast on Apple Podcasts, Google Play, Stitcher or your favourite podcast app. Please check out my website investwisely.ca, where you can find all of the podcast show notes and links, and of course all of my blog posts. I’d love to hear from you so please feel free to send me an email at beau@investwisely.ca.

 Episode 20 with Jane Rooney, Canada's Financial Literacy Leader | File Type: audio/x-m4a | Duration: 00:47:37

Did you know that Canada has a Financial Literacy Leader? It's true. Jane Rooney was appointed Canada's Financial Literacy Leader in 2014 within the Financial Consumer Agency of Canada (FCAC). (https://www.canada.ca/en/financial-consumer-agency.html) Yes, there is a government official whose main job is to make sure Canadians are financially literate. Jane is awesome and she's joining me in the second half of this episode. But first let’s talk about the only reason i even know Jane exists, and that’s because of the Conference Board of Canada. Earlier this week, February 21st and 22nd, 2018, they hosted a conference called Financial Wellness and Retirement Readiness. (http://www.conferenceboard.ca/conf/financewellness/default.aspx) While preparing for the conference I found out the FCAC was a sponsor and they offered me an interview with Jane Rooney. From the Conference Board I was offered an interview with their Vice-President of Industry, Strategy and Public Policy, Louis Thériault. Louis gave a great presentation about the current state of financial wellness in the workplace. After the presentation I sat down with Louis and asked him how he got into this world of economic and policy analysis. As Louis says in the interview, there is a quadruple gain with financial wellness programs: The employee gets financial information and support to get out of financial trouble or to prevent them from getting into it in the first place; the employer benefits from less down time and more productivity; the insurers save money when overall health is improved; and, overall wellness is good for society as a whole. So companies are making positive changes, what about the government? When I started researching Jane Rooney for this interview, I was totally surprised by the commitment the government has made to strengthen the financial literacy of Canadians. A common theme at the conference and in the discussion with Jane is the importance of overall wellness. Whether you go through what I did and have mental health issues that caused addiction which led to financial problems, or whether you have unanticipated financial issues, which in turn may cause mental health issues, we now understand that one can’t be addressed without looking at the others. And though we didn’t focus on it, physical wellness including healthy eating habits play a huge part in overall wellness as well. I would like to thank Jane and Louis for taking the time to share their stories and insight. It’s comforting to know that there are people out there who are looking out for us and trying to improve the overall well-being of Canadians. Here's the link to the FCAC hotline that Jane mentioned in the episode: https://www.canada.ca/en/financial-consumer-agency/corporate/contact-us.html NEXT EPISODE Next week on the personal finance show, Lindsay and Graham Plumb from Moola Financial Coaches and Advisors. I had a really fun chat with Lindsay and Graham and how they are helping Canadians become unstoppable, which is now my favourite word. If you enjoy listening to The Personal Finance Show, please show your support by subscribing and leaving a review on iTunes. No time for a review? Just leave me a star rating - takes 2 seconds on iTunes. investwisely.ca is where you can find all of the show notes and links and of course all of my blog posts. I’d love to hear from you so please feel free to send me an email at beau@investwisely.ca.

 Episode 19 with Allison Suter of SimpleTax | File Type: audio/x-m4a | Duration: 00:58:51

(Sign up for SimpleTax here: https://simpletax.ca/?refCode=investwisely) When someone mentions income taxes, do you get excited or are you filled with dread? Do you wait until the last possible moment to file your taxes? When you finally start the process, are you so on edge that if the slightest thing goes wrong you want to throw your laptop across the room? And when it’s over, are you 100% sure that you messed it up somehow? If this sounds like you, you should probably check out SimpleTax. Allison Suter is a former tax lawyer. She is a total tax nerd. One day she was doing her taxes online and started wondering: Why is preparing my tax return so complicated? Why is tax software so slow and expensive? If a tax nerd like Allison thinks it’s complicated, what hope is there for the rest of us? Luckily for us, Allison and her co-founders decided to build what they like to call “the best tax software in Canada”. Allison joined me from Vancouver to talk about how she went from tax lawyer, to world traveller to wedding photographer and finally to SimpleTax. EPISODE LINKS Sign up for SimpleTax here: https://simpletax.ca/?refCode=investwisely I just checked out the CRA website and SimpleTax is now certified for your 2017 taxes. So you can go and get started but remember that NetFile doesn’t open until February 26th. And although you have the option to pay $0, please consider paying something. NEXT EPISODE Next week on The Personal Finance Show I will be talking with Jane Rooney who is Canada’s Financial Literacy Leader, within the federal government’s Financial Consumer Agency of Canada. She was appointed to that position in April 2014 to exercise leadership at the national level to strengthen the financial literacy of Canadians. If you enjoy listening to The Personal Finance Show, please show your support by subscribing and leaving a review on iTunes. No time for a review? Just leave me a star rating - takes 2 seconds on iTunes. investwisely.ca is where you can find all of the show notes and links and of course all of my blog posts. I’d love to hear from you so please feel free to send me an email at beau@investwisely.ca. (If you don’t have iTunes, you can review the podcast on Stitcher: https://www.stitcher.com/podcast/beau-humphreys/the-personal-finance-show)

 Episode 18 - Payments Race Follow-up Interview with Amélie Arras | File Type: audio/x-m4a | Duration: 00:47:00

Imagine you’re visiting Europe for the first time. For some reason you didn’t think to buy any Euros before you left home. You are Canadian, so all you have is Canadian dollars on you. You find out that things have changed recently in Europe and there is no longer a way to exchange your Canadian dollars for Euros. Your only option is to try to find businesses and people who will accept your Canadian dollars. You’ll need food so you start by asking at various restaurants, and each one says, sorry, we don’t accept Canadian dollars. You have internet access so you’re able to search for the Canadian community in the city you are in. You eventually find someone who agrees to take your Canadian dollars in exchange for some food and transport to your hotel. But not every city in Europe will be like this. Luckily you have some hotels pre-booked, but for most everything else you’re going to have to figure it out along the way. This is what it’s like to travel with only Bitcoin. For the Money 20/20 payments race in October 2017, Amélie Arras chose bitcoin as her method of payment and made her way from Toronto to Las Vegas in a week. Somehow, using only bitcoin, she won the payments race. Amélie joined me from the UK to tell her bitcoin story. EPISODE LINKS How do you think you would have done in Amélie’s shoes? Do you think she was lucky, resourceful, or a bit of both? You can find all the videos from Amélie’s journey here: http://adastra-marketing.com/insight/abc/ And here is her Youtube Channel: https://www.youtube.com/channel/UCWiaP3A1ErwY982IsSlnSkQ And if you’re curious, here’s the link to the Bucephalus Bike Shop in Evanston, IL that helped Amélie out: http://bucephalusbikes.com/ NEXT EPISODE Next week on The Personal Finance Show I will have Allison Suter from SimpleTax (https://simpletax.ca?refCode=investwisely). If you enjoy listening to The Personal Finance Show, please show your support by subscribing and leaving a review on iTunes. No time for a review? Just leave me a star rating - takes 2 seconds on iTunes. investwisely.ca is where you can find all of the show notes and links and of course all of my blog posts. I’d love to hear from you so please feel free to send me an email at beau@investwisely.ca. (If you don’t have iTunes, you can review the podcast on Stitcher: https://www.stitcher.com/podcast/beau-humphreys/the-personal-finance-show)

 Episode 17 - Payments Race Follow-up Interview with Jessica Moorhouse | File Type: audio/x-m4a | Duration: 00:35:31

It’s October 2017 and I’m at the SIBOS global financial services conference in Toronto. I post something about the conference on Facebook and my friend Jessica Moorhouse comments that she’ll be at the conference tomorrow. I had just found out that she would be participating in this payments race - think of it as the amazing race for money nerds. It turned out the race was going to start the next day from the conference that I was already attending. I was able to get an interview with all 5 contestants in the race, Jessica being the only Canadian. (https://investwisely.ca/money-2020-payments-race-podcast/) All 5 racers had to make it from Toronto to Las Vegas in a week, using different methods of payment. There was bitcoin, gold, contactless ring and apple pay, cash, and Jessica had to use a chip and pin credit card. Maybe you’re thinking, that’s easy. You can pay for everything with a chip and pin credit card in North America, right? That’s what the race is all about. The organizers didn’t do a trail run from Toronto to Vegas and try all of those methods to see if it was possible. The race was created to find out if it is possible. So Jessica and the other contestants headed out into the unknown to see whether it would be a breeze or if they would run into obstacles along the way. Jessica joined me a few weeks after the race to tell her side of the story. LINKS FROM EPISODE If you’re wondering, Jessica did eventually pay Barry back. ;-) If you want all the details about Jessica’s payments race journey, you can find them here: https://jessicamoorhouse.com/youtube https://jessicamoorhouse.com/survived-trip-across-america-using-chip-pin/ Personal finance bloggers who helped Jessica along the way: Cait Flanders: https://caitflanders.com/ Michelle Jackson: https://michelleismoneyhungry.com/ Barry Choi: https://www.moneywehave.com/ NEXT EPISODE Next week on The Personal Finance Show I have another payments racer, Amelie Arras, who actually won the race using only bitcoin as a method of payment. How did she pull this off? You’ll have to tune in next week to find out. If you enjoy listening to The Personal Finance Show, please show your support by subscribing and leaving a review on iTunes or your favourite podcast app. No time for a review? Just leave me a star rating - takes 2 seconds on iTunes. investwisely.ca is where you can find all of the show notes and links and of course all of my blog posts. I’d love to hear from you so please feel free to send me an email at beau@investwisely.ca. (If you don’t have iTunes, you can review the podcast on Stitcher: https://www.stitcher.com/podcast/beau-humphreys/the-personal-finance-show)

 Episode 16 with Stephen Weyman | File Type: audio/x-m4a | Duration: 00:42:05

In my opinion, credit cards should only be used in one way. I think you should only buy something with a credit card if that money is sitting in your bank account right now. Credit cards are not for borrowing. Please don't use credit cards for borrowing. There are times in our lives when we need to borrow money. But credit cards are one of the worst tools for borrowing. The interest rate is way too high. So just promise me that if you ever really need money, right now, and you're thinking about borrowing it with a credit card, look at other options first. Maybe a loan or a line of credit with a lower rate. Just look at other options and only borrow with a credit card as a last resort. Credit cards are a tool for convenience and benefits. Now that you have agreed to only spend money you have in the bank, I can introduce you to Stephen Weyman and his new website called creditcardgenius.ca There are so many options when it comes to getting a credit card. Before I talked to Stephen, I would have told you to never get a credit card with an annual fee. You know I hate fees. But what if the benefits you get when you use the card are much higher than the annual fee? Example: Before I owned a car I rented cars all the time. Many credit cards come with collision and damage coverage if you book the rental car with the card. If you don't have a card with collision and damage coverage, the rental company will charge you $30 per day. That's an extra $210 on a rental for just a week. So if you rent a car for a week, even once a year, maybe a $99 annual fee on a credit card isn't so bad. This is just one example of a credit card benefit. But there are so many that trying to remember them is making my brain hurt. That's where Stephen and creditcardgenius.ca can help. For over 7 years Stephen has been the mastermind behind the website howtosavemoney.ca. And while he included credit card reviews on howtosavemoney.ca, he realized the world of credit card selection was complex and needed its own space. So Stephen found all of the credit card options in Canada and put them on one site. Turns out there are more than 150 different options. He even built some cool features to help you find the credit card that works best for you. Stephen joined me in downtown Toronto for my first outdoor and underground mobile episode of The Personal Finance Show. What an interesting experience to record a podcast while walking around outside and in the Toronto underground path. Did you notice when we walked into the subway station about halfway through? Thanks Stephen for being up for a different kind of interview. And a special shout out to Daniel Trezub from savewithdan.ca for making that cameo at the end. NEXT EPISODE Next week on The Personal Finance Show I get to chat with my pal Jessica Moorhouse about that time she travelled from Toronto to Las Vegas in a week using only a chip and pin credit card to pay for everything. You might want to check out episode 7 of The Personal Finance Show where I interviewed all 5 contestants in the Money 20/20 Money Race, right at the beginning of the race before they left on their journey to Vegas. If you enjoy listening to The Personal Finance Show, please show your support by subscribing and leaving a review on iTunes or your favourite podcast app. No time for a review? Just leave me a star rating - takes 2 seconds on iTunes. investwisely.ca is where you can find all of the show notes and links and of course all of my blog posts. I’d love to hear from you so please feel free to send me an email at beau@investwisely.ca.

 Episode 15 with Randy Cass | File Type: audio/x-m4a | Duration: 00:52:19

“Over a period of time it’s become incredibly difficult for any individual to stand in front of the data or the facts, and say that there is a defensible edge that I have in picking stocks, or creating strategies in this market that will outperform the passive indices.” - Randy Cass http://try.nestwealth.com/BeauHumphreys Randy Cass is a professional investor. After speaking to him for just a few minutes, it’s clear he knows investing. Randy spent years as an active portfolio manager making big money for big pension plans and institutions, managing their investment portfolios using complicated strategies that most people wouldn’t understand. An active portfolio manager gets paid based on how well the portfolio does so it’s in their best interest to spend all their time coming up with the best ways to make money. Active portfolio managers work hard and it’s their full-time job, so people don’t mind paying them high management fees. But what if you could get the same investment returns without paying the high management fees? What if it turned out that there were passive investments, with very low management fees, that performed just as well as the high fee ones? Over time, real data started to prove this was true. The high fees were good for the active managers but not for Canadian investors. Randy eventually took a break from actively managing portfolios and became the host of BNN’s television show Market Sense. While at BNN conducting interviews and reporting on investment products, he realized that the majority of Canadians were still losing out on so much growth because of high fees, despite the fact that there were so many low fee options emerging. Randy decided it was time to create a better way to help Canadians grow their money. This is the story of Randy Cass and NestWealth EPISODE LINKS Randy’s new podcast is called “And Then What Happened?” You can find it on iTunes or by clicking here: https://goo.gl/4H2x9u To try Nest Wealth for yourself, click here: http://try.nestwealth.com/BeauHumphreys NEXT EPISODE Next week on the show I have Stephen Weyman of the popular personal finance blog https://www.howtosavemoney.ca/ and we will be discussing his new site https://creditcardgenius.ca/ If you enjoy listening to The Personal Finance Show, please show your support by subscribing and leaving a review on iTunes or your favourite podcast app. No time for a review? Just leave me a star rating - takes 2 seconds on iTunes. investwisely.ca is where you can find all of the show notes and links and of course all of my blog posts. I’d love to hear from you so please feel free to send me an email at beau@investwisely.ca.

 Episode 14 with Mike Wickware | File Type: audio/x-m4a | Duration: 01:26:16

Interview with Mike Wickware Episode 14 The Personal Finance Show with Beau Humphreys https://investwisely.ca/mike-wickware “It’s not vanity. It’s sheer survival of the soul.” - Esther Perel Are you one of the lucky ones who has always had a clear picture of what you wanted to do with your life? There are many different names for this part of our life: job, career, work, what we do for a living. Whatever you call it, it’s the thing - or things - that we do to make money. The ideal situation is that the thing we do every day to make money is also something we enjoy, and that aligns with our core values. A core value is something that is important to you. For example, one of my top 10 core values is helping others, so if I’m doing work and the end result of that work doesn’t help others in some way, I won’t be happy doing that work. You might have heard someone say: what would you do with your life if money wasn’t important? When you’re starting out in the working world, you don’t generally have that luxury, so you might take the job that pays you well enough for the skills you have at that moment in time. But most of the time, you don’t stay in that job for the rest of your life. Not anymore anyhow. You might move up in a company, learn more about what you are good at, and eventually you might find out that you want to do something completely different. Some people think that when we change jobs, or follow our passions, we’re being selfish. But to quote Esther Perel: It’s not vanity, it’s sheer survival of the soul. If you are doing something everyday and that something doesn’t feel quite right, it is very important to listen to that feeling. It doesn’t mean that you’ve been doing the wrong thing for the past 10 years, it just means that over that time you’ve learned more about yourself and what it is you truly want. I believe that this is something that can only come from experience. THE INTERVIEW Mike Wickware started out having no idea what he wanted to do with his life and now he is Chief Marketing Officer of a new company called Planswell. Along the way, Mike had to make hard decisions about what was right for him and really think about what he wanted to do with his life. There will always be people that tell you that you have to stay on a certain path because of safety and security or the fact that you spent money on a degree and you shouldn’t waste it. Most of the time these people are well intentioned and they are just looking out for you. They don’t want you to get into trouble. But the key thing to remember is that these people aren’t the ones living your life. You have to do what’s right for you. Even if people don’t understand. Even if you end up somewhere you could have never predicted. This is Mike’s story. --- If you’d like to find out more about Planswell, head to https://planswell.com If you decide to build a free financial plan, please let the Plan Pro know that you heard about Planswell through The Personal Finance Show, or go to my link: http://teamplanswell.com/beau Next week on the show I have Randy Cass, Founder and CEO of NestWealth. If you enjoy listening to The Personal Finance Show, please show your support by subscribing and leaving a review on iTunes or your favourite podcast app. No time for a review? Just leave me a star rating - takes 2 seconds on iTunes. https://investwisely.ca is where you can find all of the show notes and links and of course all of my blog posts. I’d love to hear from you so please feel free to send me an email at beau@investwisely.ca.

 Episode 12 - Personal Finance in East Africa | File Type: audio/x-m4a | Duration: 00:40:14

“What we are looking for is partnerships, opportunities to learn, and collaborations to push forward the betterment of humanity.” - Richard Ndahiro of the United Nations Capital Development Fund When I attend any conference, I’ve realized the most valuable part is the time that exists between scheduled activities. Mainly meals and breaks. This is generally when I meet the most amazing people and have the best conversations. At the SIBOS 2017 (https://www.sibos.com/) conference in Toronto this past October, 8,000 delegates came from all over the world so I was definitely hoping to have great conversations with interesting people from different countries. I got to have many conversations over the 4 days of the conference but when I met a group of delegates from Uganda at my lunch table on day 2, I immediately knew they would be on my podcast. Since my visit to Kenya last year I’ve been wanting to tell people about the state of personal finance in East Africa but my knowledge only scratches the surface. (When I say East Africa I mean the East African Community(EAC) of Kenya, Uganda, Tanzania, Rwanda, Burundi, and South Sudan.) In Canada we take things like bank accounts, credit reports and credit scores for granted. We have credit cards and loans available to us from multiple sources. If we have talent, is it not hard to find the opportunity to use that talent to get a paying job or get funding for a business. It isn’t that easy in East Africa. THE INTERVIEW My 3 guests on today’s episode are: Richard Ndahiro, Digital Finance Expert for the United Nations Capital Development Fund or UNCDF (http://www.uncdf.org/) Ronald Azairwe, Director of Business Development for a Fintech company called Pegasus Technologies (http://www.pegasustechnologies.co.ug/) Eric Kamau, Managing Director of a Fintech company called True African (https://trueafrican.com/) Richard, Ronald and Eric have all made it their life’s work to improve the way that East Africans manage their finances. Only 11% of East Africans have bank accounts. In contrast, according to the World Bank, 99% of Canadians have bank accounts. Without a bank account, your cash is at risk, you can’t really prove you make any money, you don’t exist from a bank’s perspective, and you are unlikely to be able to get credit anywhere. I am very happy that Richard, Ronald and Eric made the trip from Uganda to Toronto to join me in an inspiring conversation about bringing opportunity to those who need it most. NEXT EPISODE There is one more episode coming for 2017 and that’s a special holiday giving episode featuring Todd Bender, founder of a Canadian charity called CityKidz (https://citykidz.ca/). Look for that one on Xmas eve, otherwise I will be taking a break for the holidays and I’ll be back in the middle of January 2018 to start a new year of great conversations.

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