Episode 28 Humor, Quotes, and Debating Tipping Culture: A Varied Conversation.

Today's episode features a casual conversation between Jake and Lincoln, starting with joke exchanges about bees and polar bears. They then share an inspiring quote by Theodore Roosevelt about making mistakes as evidence of doing something. The conversation shifts to a big reveal, where they announce a winner via a phone number for their contest to pay a winner's bill, emphasizing the importance of listening to their podcast to claim the prize. Lastly, they delve into the topic of tipping in the service industry, expressing their views on when and why to tip, the changing expectations around tipping, and personal philosophies on generosity and supporting individuals directly.

00:00 Opening Banter and Jokes

00:33 Quote of the Day and Its Impact

01:07 The Big Reveal: Contest Winner Announcement

02:34 Tipping Etiquette: A Deep Dive

11:35 Donation Dilemmas: Corporate vs. Personal Giving

16:20 Generosity and Tipping: Final Thoughts

20:17 Closing Remarks and Contest Reminder

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Email: [email protected]

Episode 27

Enter to win a chance of having you credit card paid by us. WhatsApp: 306-661-0713

In this engaging discussion, Hosts' Jake and Lincoln delve into the importance of appreciating life amidst the pursuit of financial security. They start by sharing their gratitude for the recent snowfall and its implications for agriculture before transitioning into a light-hearted exchange of jokes. The conversation then shifts to a more serious examination of how to enjoy life without solely focusing on saving and investing for the future. They emphasize finding joy in simple, inexpensive activities and the significance of being present in the moment with loved ones. The discussion also covers practical tips for slowing down in life, like driving at the speed limit and taking time for silence and reflection. Additionally, they touch on the concept of journaling as a tool for self-discovery and memory preservation. The overarching theme highlights the importance of balance between financial prudence and enjoying the present, underscoring that relationships and personal contentment are invaluable aspects of a fulfilling life.

00:00 Opening Banter and Snowfall Discussion

00:49 Joke of the Day and Quote of the Day

01:51 The Importance of Slowing Down and Enjoying Life

03:03 Finding Joy Beyond Money

04:43 Being Present and Building Relationships

07:03 The Impact of Technology on Attention and Relationships

11:12 Embracing Limitations and Personal Responsibility

13:19 Finding Joy in Simplicity

13:35 Embracing Affordable Fun

14:26 The Value of Reading and Library Visits

17:12 The Importance of Quiet Time and Reflection

19:29 Journaling: A Tool for Thought and Reflection

20:54 The Power of Old Journals and Intellectualism

23:26 Concluding Thoughts on Slowing Down and Valuing People

Contact:

WhatsApp: 306-661-0713

Email: [email protected]

Episode 26 Overcoming Fear and Financial Empowerment.

WhatsApp number to the promo is: 1-306-661-0713

Email: [email protected]

In this episode of the Money Podcast with Jake and Lincoln, the hosts engage in a casual conversation about the beautiful weather, their hopes for more precipitation in Southern Alberta due to dry conditions, and share light-hearted jokes. The discussion transitions to a more serious topic of fear, inspired by a quote about the fear of failure. They emphasize the importance of facing fears, particularly in financial matters. The hosts announce a promotion where listeners can have a bill paid for by the podcast to assist with debt relief, outlining the criteria for participation. They delve into financial fears people have, discussing the uncertainties surrounding retirement, investments, and scams. The hosts encourage a positive outlook on the future, emphasizing that economic challenges and opportunities are part of a cycle. The episode concludes with advice on making informed decisions, the importance of doing what's right, and how understanding and action can mitigate fear, especially regarding money and investments.

00:00 Catching Up and Weather Talk

00:38 Joke Time: Hat and Belt Puns

01:03 Quote of the Day: Overcoming Fear of Failure

01:30 Bird Talk and the Push to Fly

02:56 Exciting Podcast Promotion Announcement

06:18 Navigating Financial Fears and Scams

12:40 Addressing the Fear of a Gloomy Future

13:32 The Reality of Buying a House Today

14:25 Changing Perspectives on Affordability and Investment

15:25 Historical Context: Overcoming Challenges Across Generations

16:57 Strategies for Financial Stability and Growth

20:34 Conquering Fear Through Knowledge and Action

24:11 Embracing a Hopeful Future with Righteous Actions

26:13 Closing Thoughts on Money, Fear, and Future Prospects

Episode 25. The Top 10 Millionaire Habits You Need to Know!

Dive into a lively and insightful conversation with Jake and Lincoln revealing the top 10 habits that set millionaires apart. Starting off with light-hearted jokes, the discussion quickly deepens into the value of reading, smart financial strategies, and the philosophy of living below your means. Learn why millionaires shun luxury, embrace investing, prioritize meaningful relationships, and consistently practice delayed gratification. Discover the surprise top habit that underscores the importance of continuous learning through reading. This conversational journey offers practical advice and motivational insights into transforming your financial mindset and habits on the path to becoming a millionaire.

00:00 Kicking Off with Light-Hearted Banter

00:41 Diving into the Quote of the Day

01:19 The Mindset Shift: From Broke to Millionaire

02:16 Exploring the Habits of Millionaires

06:26 Investing Wisely: The Millionaire's Approach

09:19 Living Below Your Means: The Millionaire Lifestyle

11:32 Understanding Your Finances: The Foundation of Wealth

14:22 Planning for a Million Dollar Net Worth

16:01 Debunking the Myth of Consumer Debt

16:54 The Real Cost of 0% Financing Deals

19:23 Choosing Relationships Wisely for Success

24:42 The Power of Delayed Gratification

28:02 Millionaires: Avid Readers and Leaders

31:06 Recap and Closing Thoughts

Email: [email protected]

Episode 24, Understanding Financial Independence Number (FIN) and Investment Lifestyle

In this comprehensive discussion, Jake and Lincoln talk about the concept of Financial Independence Number (FIN), a target you aim for that will allow you to retire without worrying about money. They emphasize how investing is not only about money but it is a lifestyle that needs to be incorporated and nurtured. The hosts break down calculations and explain how inflation will drastically change required income over the years. The session allows listeners to understand the value of investing for reasons other than tax breaks and the risk of over-housing oneself. They play around with different percentages of investment and demonstrate potential inflation impacts. The episode is an encouragement to listeners to build an investment lifestyle and develop a saving mindset as it assures one a better future and contingency plans for unpredictable life scenarios.

00:00 Introduction and Catching Up

00:58 Reflecting on the Last Episode and Listener Feedback

02:11 Addressing Listener Questions: Basement Suite Rentals

05:21 Transitioning to the Main Topic: The Financial Independence Number

05:55 Understanding the Financial Independence Number

08:15 Calculating Your Financial Independence Number

10:20 The Power of Investing 10% of Your Income

12:14 Understanding Your Financial Commitments

12:49 The Impact of Rising Incomes and Real Estate Prices

14:02 Investing as a Lifestyle

14:10 Upcoming Investment Course

14:34 The Paradigm Shift in Investing

15:19 The Importance of Saving Money

17:50 Understanding Your FIN Number

22:23 The Five Reasons to Save Money

23:28 Reaching Out for Financial Advice

24:05 Closing Thoughts on Money and Character

E-mail: [email protected]

 Episode 23: A Discussion on the Money Podcast with Jake and Lincoln about Real Estate.

00:00 Introduction and Welcome

00:38 Jokes and Listener Feedback

01:41 Course Feedback and Improvements

03:31 The Importance of Specifics and In-depth Analysis

04:17 Real Estate: Investment or Liability?

06:14 The Financial Implications of Renting vs Buying

08:31 The Power of Proper Investment

12:33 The Future of Real Estate Investing

13:28 Understanding Mortgage Payments and Interest Rates

13:58 The Importance of Down Payments in Real Estate

14:21 Breaking Down a Real Estate Investment Scenario

15:52 The Reality of Property Maintenance and Unexpected Costs

16:10 The Strategy of High Down Payments and Cash Flow

16:39 The Concept of a 'FIN' Number and Retirement Planning

17:25 The Power of Rental Income and Mutual Fund Investments

17:58 Understanding Real Estate as an Asset and a Liability

19:30 The Emotional Aspect of Home Ownership and Debt

25:47 The Importance of Cash Flow and Investment Diversification

27:17 Closing Thoughts on Money, Time, and Character

Email: [email protected]

In this episode of the money podcast, hosts Jake and Lincoln celebrate their achievement of posting their 21st episode, which puts them in the top 1% of podcasters. They also discuss income tax returns; emphasizing that the money was always the taxpayer's to start with. The hosts encourage listeners to treat their tax refund wisely by reinvesting it, paying-off debt, or improving their living conditions. They also discuss their free course 'How Money Works', which aims to educate people about financial planning and the concept of insurance.

00:00 Introduction and Jokes

01:15 Celebrating Podcast Milestone

02:19 Understanding Tax Returns

05:12 The History of Taxes

07:45 How to Spend Your Tax Return

14:22 Understanding Canada Pension Plan

15:32 Understanding Private Credit and Government Deductions

16:46 The Reality of Pensions and Personal Investments

17:11 The Importance of Investing and Financial Independence

17:59 The Pitfalls of Whole Life Insurance

18:55 The Importance of Financial Knowledge and Education

19:04 Investing Your Income Tax Return Wisely

20:02 Understanding the Value of Your Assets

21:37 The Role of Government and Taxes in Personal Finance

25:40 The Importance of Financial Education and Empowerment

29:37 The Impact of Money on Character

30:11 Conclusion and Call to Action

Email: [email protected]

Setting Financial Goals and Building a Supportive Community

In this episode of the Money Podcast with Jake and Lincoln, the hosts reflect on how their year is starting. They stress the importance of budgeting, especially as they enter a busy business period, and discuss their personal goals for the year. They also address goal setting in general, suggesting that any goals set should be measurable and backed by a plan for achievement. The hosts then consider the importance of community in pursuing personal development, indicating that the people one surrounds themselves with can greatly influence one's success. Among other topics, they consider the impact of associating with individuals who are financially more successful in order to learn and grow. The discussion also touches on the importance of recognizing and learning from financial shortcomings.

00:00 Introduction and Catching Up

00:33 Holiday Recap and New Year Plans

01:47 Goals for the New Year

03:18 Financial Wellness Course Introduction

05:11 Importance of Goal Setting

07:01 Facing Financial Reality

10:35 The Fight or Flight Response in Financial Planning

12:33 Admitting Ignorance and Seeking Knowledge

12:59 The Importance of Understanding

14:18 The Journey of Learning and Growth

14:25 The Wisdom of Youth and the Humility of Age

16:26 The Power of Community and Learning from Others

19:06 The Role of Community in Financial Success

20:10 The Importance of Surrounding Yourself with the Right People

24:30 Understanding the Purpose of People in Your Life

26:22 Closing Thoughts on Money and Personal Growth

Contact us:

E-mail: [email protected]

Money Podcast Episode: Understand Taxation - Corporations, Sole Proprietorship, Dividends, RRSP Contributions, and More!

In this episode of the Money Podcast, hosts Jake and Lincoln, along with their guests Tina and Rick from First File Accounting, delve into the complex world of taxation. They discuss how corporations and sole proprietorships are taxed differently, the best tactics to employ when closing a business, the benefits of a tax-efficient balance between payroll and dividends, and how these financial strategies can impact your RRSP contributions. They highlight the constant changes in tax laws and underscore the importance of staying current for the sake of financial management. If you're a business owner or planning to become one, or simply interested in understanding financial dynamics, this podcast episode is an unmissable resource.

00:01 Introduction to the Money Podcast

00:33 Humorous Start: Jokes about Taxes

01:03 Deep Dive into Tax Avoidance and Tax Evasion

01:32 Debate on Taxes and Legal Theft

01:52 Discussion on Corporate Taxes

02:12 Insights into Bookkeeping and QuickBooks

02:33 Exploring the Best Ways to Close a Business

02:33 Discussion on Selling Assets and Closing a Business

03:10 Understanding the Difference between Sole Proprietorship and Corporation

07:47 Understanding Corporate Tax Structure

10:31 Exploring Dividends and Payroll in a Corporation

19:52 Understanding Child Tax Credit Benefits in a Corporation

24:49 Conclusion and Final Thoughts

In this episode of The Money Podcast with Jake and Lincoln, the hosts, along with two Tax professionals Tina Hiebert and Rick Giesbrecht, explore an important topic for business owners - vehicle expenses. They discuss different scenarios such as being employed, self-employed, or incorporated and how this impacts the ability to claim vehicle expenses. They delve into the nuances of vehicle classification, insurance, mileage claim, and depreciation. The concept of 100% tax write-off for purchasing vehicles is discussed along with the new special circumstances introduced due to COVID-19. The consequences of buying expensive vehicles for tax benefits are outlined. The hosts encourage listeners to make informed decisions about such expenses and not to spend recklessly just to save on taxes.

00:00 Introduction to the Money Podcast

00:21 Discussing the Last Episode and Upcoming Topics

01:22 Introducing Guests and Discussing Common Tax Questions

01:59 Exploring Tax Evasion Strategies

03:59 Understanding Vehicle Expenses and Tax Deductions

04:56 Exploring the Impact of Vehicle Class on Tax Deductions

08:00 Comparing Employee, Self-Employed, and Corporate Vehicle Expenses

18:10 Discussing the Importance of Tracking Kilometers for Tax Purposes

19:46 Understanding Depreciation and Tax Implications in Corporations

21:46 Wrapping Up the Discussion on Vehicle Expenses

22:13 Conclusion and Closing Remarks

Contact us:

Email: [email protected]