In 2026, it is estimated that nearly half of all Canadian mortgages will be up for renewal. This involves over 1 million households here in Canada. Because of the change in interest rates, some of these households could see their monthly payments jump by 15% to 20% on average—and in extreme cases, even higher.

That's the bad news.

The good news is that if your mortgage is coming up for renewal, the stress test requirements have likely changed since the last time you took out a mortgage years ago.

You actually have more power than ever to leave your current mortgage provider if you find a better mortgage elsewhere, and this is because the stress test has been removed in certain cases. Homeowners who were previously "trapped" with their current mortgage provider can now freely move to a competitor offering a lower rate. This forces the lenders to actually compete for your business.

In this episode, we're going to cover exactly how you can navigate all of these changes so you can keep more of your hard-earned money invested in your portfolio, rather than handing over an excessive amount to your mortgage provider.

Specifically, we're going to cover:

• What Canadian mortgage holders need to know about these changes to the stress test to avoid "payment shock" and take advantage of the new switching flexibility.

• How to choose between a fixed-rate vs. variable-rate mortgage with everything that is going on in Canada right now, based on the latest rates.

• How to execute an advanced hybrid strategy using a re-advanceable mortgage if you have a lump sum of cash to invest, but are nervous about putting it all into the market at once with valuations at all-time highs.

To help us dive into all of this, I invited Sean Cooper back onto the show. Sean is the resident mortgage expert for this podcast, he's the bestselling author of the book "Burn Your Mortgage," and he's a fully licensed mortgage broker. He is who I go to and send all friends, family, and listeners of the show to for any mortgage-related questions and research. Because he actually does this as a full-time job, he is up to date on all the latest mortgage rules, changes, and the best interest rates currently available here in Canada.

If you have any mortgage-related questions, or if you just want to see Sean's up-to-date research on the best mortgages that he's been able to find across the dozens of lenders that he's constantly monitoring all over Canada, you can send him a message, or book a free call with him over at buildwealthcanada.ca/sean.

Alright, let's get into the show!

One of the most common questions I get, and honestly one of the biggest sources of anxiety for anyone nearing financial independence is: "How much can I spend without running out of money once I quit my job and start living off my investments?"

It's one thing to see a big number in your investment account; it's another thing entirely to hit the "withdraw" button and start taking money out.

Research, and my own experience shows that many Canadians end up underspending. They live a smaller life than they need to simply because they don't have a structured process they can trust.

Some blindly follow the "4% rule," while others just live off dividends, pensions, and/or government benefits, never touching their principal. This often results in a massive amount of money left over when they pass away. That is money that could have been spent enjoying life, creating memories with family, or donating to charity, rather than leaving a giant inheritance, and a giant tax bill to the government.

So, how do we find that balance? How do we calculate a spending number that is safe, but still lets us enjoy our lives?

To answer this, I invited Thuy Lam back on the show. Thuy is a Certified Financial Planner with over 20 years in the industry who recently built my personal financial plan. We discuss the specific cashflow plan she created for us, and the relevant insights and best practices you can apply to your own situation.

We dig into four critical areas:

1. First, the "Safe Withdrawal" question: We move past the 4% rule and discuss how to determine a sustainable spending rate that factors in current market conditions.

2. Second, the "Bucketing Strategy.": Thuy breaks down how to allocate your portfolio for short-term spending versus long-term growth. This is huge for keeping anxiety low when the market drops.

3. "Stress Testing" your plan: We talk about why using a simple average rate of return (like 8%) is a dangerous mistake, and how Monte Carlo simulations can help you see if your plan survives extreme scenarios.

4. Dynamic Spending Adjustments: We cover exactly when to tighten the belt if markets underperform, and how to safely increase spending if returns are high, so you don't die with a giant portfolio you never got to enjoy.

We're going to cover all that and more. Enjoy the Episode!

Links from the episode:

Meet with Thuy: Free Introductory Meeting & Discount Link

Free Access to my investing guide: What I Invest In and Why? (Kornel's Portfolio)

With the new year kicking off, investing is top of mind for many of us, especially with all the new contribution room that many of us just received in our different registered accounts here in Canada (TFSA, RRSP, RESP, FHSA).

Now before we decide what to invest in with our contributions this year, I thought it would be wise to look into:

-What are some of the major and common mistakes that Canadian investors make when they do their own analysis on which investment to buy?

-When we are looking to compare two investments, whether it's a mutual fund, or an ETF, what is the process that we should follow to make sure that we are doing appropriate and thorough due diligence?

-Are we paying near the low-end vs the top-end of the spectrum when it comes to fees? What would be considered a "high" fee vs a "low" fee for the Canadian investor?

-Are there other charges or fees that we should be mindful of in addition to just looking at the MER for an ETF or mutual fund?

-How to properly compare investments that we are considering?

We go into all that and more in this episode. Enjoy!

Resources Mentioned:

ETF Comparison Tool

ETF Guide: What I Invest In and Why?

Disclaimer:

This podcast is sponsored by BMO Exchange Traded Funds. Build Wealth Canada is compensated under this arrangement by BMO ETFs.

This communication is intended for information purposes only. This update has been prepared by Build Wealth Canada and represents their assessment at the time of publication. The comments contained do not necessarily represent the views of BMO Global Asset Management (BMO GAM). The views expressed by the host and the interviewee are subject to change without notice as markets change over time. The information contained herein is not, and should not be construed as, investment advice to any party. Investments should be evaluated relative to the individual's investment objectives and professional advice should be obtained with respect to any circumstance.

Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds managed by BMO GAM. Any reference to a particular company is for illustrative purposes only and should not be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any investment fund managed by BMO GAM is or will be invested. This social media network is an independent organization and is not affiliated with BMO GAM.

One of my favourite types of interviews is when I get to interview someone who has hit their financial independence or retirement number early, and then picking their brain on how they got there, what worked well for them, what didn't, what mistakes they could have avoided, and learning what makes them feel happy and fulfilled both before and after hitting financial independence.

Well this time, I got to do this with one of the most famous personal finance experts in Canada, David Chilton, who, as you may know, was also one of the dragons on Dragon's Den.

Dave's bestselling book, The Wealthy Barber, was actually the first personal finance book that I ever read. I read it decades ago in high school, and in a way, it actually started me down this path of early financial independence.

Dave has recently released a massive update to the book, so we cover what has changed in personal finance and investing in Canada over the years, and what Canadians need to know about now when it comes to personal finance and investing in Canada.

I'm incredibly grateful that Dave has chosen to spend so much of his time educating Canadians and trying to improve financial literacy here in Canada. You can definitely tell that he's not doing it for some massive financial gain, and is genuinely trying to help.

Let's get into the interview.

Today, we have a Canadian guest who has literally done over 400 interviews with different personal finance experts over the years, many of which were specifically for Canadians. Today, I pick his brain on the common conclusions, best practices, and recurring advice he's heard after interviewing so many personal finance experts.

My guest, Kyle Prevost, is also part of the FIRE (financial independence, retire early) movement and was able to hit his financial independence number at a very early age. I pick his brain on what safe withdrawal rate he has settled on and why, based on his extensive research, so that he doesn't run out of money in his early retirement and is able to live off his portfolio permanently.

I also ask him what has really moved the needle for him in terms of growing his net worth to reach financial independence so quickly, and what he does now to help ensure that he stays financially independent and doesn't have to go back to work, when we have the next major stock market crash.

Free tickets to the Canadian Financial Summit:

https://buildwealthcanada.ca/summit

The Summit is from October 22-25 this year so be sure to grab your free tickets at the link above. You can also see all the speakers and talks at that link too.

1. After interviewing well over 400 personal finance experts over the years, what are some of the most impactful lessons or recurring pieces of advice that you've heard?
2. A few years ago, you created a retirement course where I remember my favourite section being your findings on the safe withdrawal rate - in other words, how much can we all withdraw from our investment portfolio to be able to live off it long-term? What are your current thoughts on a safe withdrawal rate, based on the research that you've seen, and have your views changed over time?
3. I know living abroad and travelling is something that you and your wife have done a lot of. When it comes to saving money on travel, can you give us 3 to 5 pieces of advice that you found really moved the needle for you when it comes to either not overpaying, or where you were able to really maximize the value that you received per dollar spent?
4. Now that you've hit FI years ago, do you still find earning more money to be a motivating factor for you? The last time you were on the show, you mentioned that it was as it lets you experience more when it comes to travel (among other things). Now that you've been FI for even longer, and since the markets have done so well over that time, do you find accumulating more money is still the motivator it once was? Or do you now get motivation and fulfillment from other things?
5. If both you and your wife were to stop generating any additional income through part-time work or side projects, how would you approach your cash position and asset allocation? Follow up: Since you are still generating some income as a household post FI, how does that change how much you keep in cash and how you structure your asset allocation?
6. With the markets at all time highs again, there are definitely those that are getting nervous and worrying about a drop in the markets in the near future. What do you personally do to ensure you don't run out of money and are forced to return to 9-5 work if we were to have another 2008 scenario?
7. Over the decades, what factors have truly moved the needle for you in terms of net worth generation?
8. Tell us where we can hear more from you and about the Canadian Financial Summit.

In this episode, my goal was to make it relevant for both types of listeners:

First, for those who are just getting started in do-it-yourself investing or are looking to transition to becoming passive index investors instead of trying to beat the market by stock picking or owning expensive actively managed funds.

We're going to build a strong foundation for you here to help you get started, such as discussing what it actually means to be a total market index investor, and what the research says about passive index investing versus actively trying to pick investments that will beat the market. We'll also talk about the different ways you can be a DIY passive index investor here in Canada and the pros and cons of each.

Next, we're going to tackle something that's a bit more intermediate level and something that I've personally been deliberating and have been curious about for quite some time: When it comes to the more stable, fixed-income portion of our investment portfolio (often called the bond portion), what are some of the options available to us here in Canada, and what are the pros and cons of each?

We've all heard of high-interest savings accounts, GICs, and all-in-one bond ETFs that capture the aggregate bond index and have an assortment of bond types in them. But what if we only want a specific type of bond in our portfolio because of the degree of volatility and income that it provides? What are these different types of bond ETFs that we can buy, and what's the trade-off that we incur by choosing one over another?

In the past, we have had both stocks and bonds fall at the same time (2022), so what are our options and tradeoffs when it comes to specific types of bonds that we can choose, so that we can avoid or mitigate the large drops in the "safe/less volatile" portion of our portfolio?

Links from the Episode

ETF Comparison Tool. This is especially useful for comparing fees (the management fee and MER) among similar ETFs. At this link, I've already included some comparisons for you.

Here is the episode on fixed-income choices that I mentioned during the episode: Fixed Income ETFs Episode

ETF Market Insights YouTube Channel

Investor Profile Questionnaire (to help you determine your asset allocation)

This podcast is sponsored by BMO Exchange Traded Funds. Build Wealth Canada is compensated under this arrangement by BMO ETFs.

This communication is intended for information purposes only. This update has been prepared by Build Wealth Canada and represents their assessment at the time of publication. The comments contained do not necessarily represent the views of BMO Global Asset Management (BMO GAM). The views expressed by the host and the interviewee are subject to change without notice as markets change over time. The information contained herein is not, and should not be construed as, investment advice to any party. Investments should be evaluated relative to the individual's investment objectives and professional advice should be obtained with respect to any circumstance.

Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds managed by BMO GAM. Any reference to a particular company is for illustrative purposes only and should not be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any investment fund managed by BMO GAM is or will be invested. This social media network is an independent organization and is not affiliated with BMO GAM.

Links to speak to today's guests: Thuy Lam: buildwealthcanada.ca/plan Alanna Abramsky: broadmoney.ca

After conducting hundreds of interviews over the past 10 years with different financial experts and those who have been able to hit their financial independence number early, one of the common themes and best practices that I've noticed emerge time and time again is that those who are wealthy actually track their spending.

At the end of the day, knowing what you spend every year on essential expenses versus discretionary expenses like vacations and fun activities lets you actually forecast with pretty good accuracy how much you need to become financially independent so that you can retire early if you wish.

It's also one of the key, critical ingredients that you need to be able to know whether you can sustainably live off your portfolio, and for how long.

Now, I will admit, tracking expenses is not something that I personally find fun. It's one more thing to do, and we're all busy enough as it is. But literally every single financial planner that I have ever worked with over the years who knew what they were doing, and every single person that I've talked to who was able to retire early or reach financial independence early, had expenses as one of the key components that they managed and that they needed to know to be able to determine with accuracy when it is safe to stop working and live off your investments forever.

It really is a skill and process worth developing that you will literally be using your whole life. My wife and I have now been either fully retired or semi-retired for the past 9 years here in Canada, and I can tell you that knowing our expenses year to year has been critical in making sure that we don't overspend and have to go back to work. And, as I've mentioned in the past, knowing this has also been a huge financial anxiety reducer for me personally, since you actually know how much you have and how much you need, and so you aren't in a state of anxiety every time that the credit card bill comes in, hoping that you and your family didn't overspend this month.

In this episode, I invited 2 highly experienced financial coaches here in Canada to discuss how we should be tracking our expenses, whether we actually need a traditional budget, the different processes that we can follow to properly manage this key component of our financial lives as efficiently as possible, and what tools we can use here in Canada to make this whole process less tedious and more automated and productive.

Our first guest is Thuy Lam. Thuy is a Certified Financial Planner (CFP) with over 20 years in financial planning, financial coaching, wealth management, and business consulting experience. She enjoys working with clients who value financial advice conveyed in an easy-to-understand fashion, and especially those looking for help with cash flow planning while going through a life change, such as a new job or career, marriage, divorce, or retirement. I've worked with Thuy personally, and she's been amazing at helping my wife and I plan out our finances in our early retirement.

Our second guest is Alanna Abramsky. She has been financial coaching for over 10 years and has helped more than 1,000 Canadians over this time. She has over 30 years of experience in the personal finance field, and she started Broad Money with the mission of empowering Canadians to take control of their financial futures, offering support and guidance every step of the way.

Have you ever felt that knot in your stomach watching the stock market tumble, especially after you've just invested some of your hard earned money? Have you ever wondered how seasoned investors with large amounts invested handle those gut-wrenching portfolio drops?

Well in this episode, we're tackling market volatility head-on. Our guest Marc Beavis is a seasoned investor who's lived through multiple major crashes over the decades, and he shares powerful mindset shifts and actionable strategies to help you stay calm, stay invested, and stay on track—even when the headlines scream chaos.

I also share my own strategies that have helped me stay calm, anxiety-free, and stay invested after nearly two decades of investing which has played a huge impact in helping us achieve financial independence in our early thirties.

Saily Discount Link for 15% Off their Data Plans: https://saily.com/buildwealth

One of the reasons that I really wanted to have Marc on the show is that:

1. He's been in the industry for decades working with clients, so he's got not only wisdom on what has helped him stay the course over the decades with multiple stock market drops, but also what has worked well for others that he's worked with; Canadians with different personalities and temperaments.

2. He's retired and in his 60's so he actually has real life experience going through the crashes with a significant amount of his own money invested, like in the 2008 financial crisis and the tech crash in the 2000s, just to name a few.

3. He also runs one of the largest Canadian investing YouTube channels in Canada, called Beavis Wealth, so despite retiring, he's still very much on top of what's been happening and what we can do to better handle declines in our own portfolios.

Thanks to Marc's help, you'll learn the mindset shifts needed to endure significant declines, and discover proven strategies for staying calm and confident when your investments plummet.

Today's episode is a must-listen for anyone who's ever felt confused, anxious, or just plain stuck when it comes to money. We're diving deep into the emotional and psychological side of personal finance with Jessica Moorhouse, an accredited financial counsellor who's spent over a decade helping Canadians untangle their money struggles.

In this conversation, Jess reveals the most common patterns she's seen over the years—from overspending traps to financial fears we rarely talk about—and the simple, practical strategies that can truly make a difference.

We'll also unpack powerful insights from her new book, "The Hidden Barriers Between You and Financial Freedom", including why even those who are financially secure can still feel stressed about money. You'll learn how to spot the invisible forces that keep you stuck, and more importantly, how to move past them.

Plus, if you're in a relationship, this episode is packed with real-world advice on managing money as a couple—without the fights and resentment.

By the end of this episode, you'll walk away with actionable tips and the clarity you need to take control of your financial future—without losing your peace of mind.

A Big Thanks to Our Sponsors:

Incogni: Get 60% off Incogni by using the link: https://incogni.com/buildwealth

ETF Market Insights and BMO ETFs: Catch the latest episodes on YouTube Here: https://www.youtube.com/@ETFMarketInsights

Sun Life MyRetirement Income: To learn more about if Sun Life MyRetirement Income is right for you, visit https://buildwealthcanada.ca/myretirementincome.

BMO Asset Allocation ETFs: I use these ETFs a lot, and they are the largest Canadian ETF provider. You can see them and learn more here: http://www.bmoetfs.com/

Today I'm excited to have a panel discussion with some of the largest personal finance and investing personalities, here in Canada.

Together they have over 46 million views on YouTube (that's more than the entire population of Canada), and in this episode, I thought it would be great to pick their brains on how they actually invest their own money, what types of investments do they actually buy? what specific ETFs do they buy and what type of investing style have they found to work best for them?

They also ask me the same questions so you'll get a pretty diverse view of the different options out there, for us Canadians, when it comes to investing.

You'll notice too that while some of our styles overlap, we do also diverge in a few areas, and so we also tackle what are the pros and cons of the different styles, allowing you to make an informed and more educated decision, on what is the best fit for you.

Saily Discount Link Mentioned in the Episode:

Get an exclusive 15% discount on Saily data plans! Go to saily.com/buildwealth or download the Saily app on your phone and use the code "buildwealth" at checkout.

Questions Covered:

1. Let's start by introducing the panel. Brandon, can you start by telling us a bit about yourself, your area of expertise, roughly how much you currently invest in ETFs, and tell us about the investing style or strategy that you've chosen for yourself.

2. To kick things off, I thought it would be good to start with what I consider, one of the easiest investing styles to implement and get started with, while also being extremely effective, very passive, and low cost.

   Brandon, as you can probably guess, I'm of course talking about asset allocation ETFs which you mentioned is your preferred investing style. For anybody new to this, can you explain what asset allocation ETFs are, and then go into why you chose this as your primary investing style, along with the ETFs that you actually buy and why.

3. Let's open it up to the panel: Does anybody else here buy asset allocation ETFs? Why or why not? And if you do, what specific asset allocation ETF do you buy?

4. Adrian, you like to buy the underlying ETFs, instead of just one asset allocation ETF. For anybody new to this, can you explain what that actually means, why you choose to invest in this way, and can you share specifically which ETFs you like to buy as part of this investing style.

5. Let's open it up to the panel: Does anybody else invest in this way, and if so, what are your favourite ETFs, and give us some explanation on why you chose them and this style of investing.

6. Are there any negatives that you think are worth mentioning when it comes to this investment style of buying the underlying ETFs?

7. Marc, so far our conversation has been dominated a bit by equities (the stock portion of the portfolio), but of course, fixed income is also something that most investors find to be a good fit, especially since not everyone can stomach having a 100% equity portfolio and dealing with those occasional 30% or 40% drops and just riding those out and not panic selling. You have some focus on fixed income in your portfolio which can help reduce that volatility. Can you take us through your thought process on having these types of investments, along with which ones you like and why?

8. Thanks Marc. Would anybody from the panel like to add anything to the fixed income discussion? Are there any fixed income ETFs that you like to buy?

9. Adriano, let's talk about your investing style now. Yours is a bit different from the vanilla, total market, index investing strategy that most of us on this panel use. Can you speak to why you chose your particular investing style, the pros, the cons, who is it for, and do you have any favourite ETFs or other investments that you like to use as part of it?

10. Let's open it up to the panel: Do you have any questions, concerns or comments?