The MoneySaver Podcast

In this episode of the MoneySaver Podcast, Ellen Roseman, Rita Sylvan, Barbara Stewart, Paulette Filion and Judy Paradis discuss the need for women to finance their longer lifespans, the problems women have finding a financial advisor they can trust and the types of products and services that suit women investors, are women risk adverse or risk aware, confidence - perception that they don't have enough money even if they do, the financial realities of being a woman among other topics. 

Questions Asked:

3:51  What are the barriers that might be holding some women back from investing?

9:10  Do you feel that people in the industry make it harder than it needs to be?  What do women want from an advisor?

11:01  Are women really risk adverse?  Or Risk-Aware?

15:43  It sounds like women might be a better client since they won’t panic and want to get out when the market has a downturn.  Is that the case?

16:31  Why do you think women are less panicky when it comes to market slowdowns?

18:39  Where is the sweet spot for a women who wants a financial planner but doesn’t want high-cost mutual funds?

In the 23rd edition of the MoneySaver Podcast, Ellen Roseman chats with Dale Roberts, blogger behind the Cut The Crap Investing!  In this episode we chat about robo-advisors, all-in-one ETF portfolios and Dale gives us his three best money tips that he has found useful in his life.

0:50  What led you to taking on the role of chief disruptor behind the Cut the Crap Investing blog?

5:10  What is the purpose of Cut the Crap Investing and what are you trying to do for the average person who would like to invest?

6:13 What does the “Crap” in your name stand for?

7:00  How do you analyze each robo-advisor and write it up in a way that you’re adding some value for Canadians who are trying to choose?

9:20  Can you give us a good description of what a robo-advisor is?

10:55  How quickly are robo-advisors growing in Canada and are they growing quick enough?

14:19  Do you think that the all-in-one ETF portfolios will replace robo-advisors?

15:45  It’s also much easier when a robo-advisor will rebalance for you.

19:19  What kind of stocks do you like to buy for yourself?

22:17  Because some companies like banks, telco’s, and railroads are protected, they do so well and customers cannot use their market power to force companies to lower their prices or make them more consumer friendly.  That makes them a better investment.

25:26  How do you move Canadians from the banks and their mutual fund offerings into something that will save them money like even funds who have much lower management expense ratios?

27:10  Give use your three best money tips that you have found useful in your own life?

In episode #22 of the MoneySaver Podcast, we chat with Dan Bortolotti, blogger, financial planner and podcast host of the Canadian Couch Potato about exchange traded funds (ETFs), index investing, passive vs active investing and all-in-one ETFs.

Questions Asked:

0:56 Tell us a little bit about what got you interested in the couch potato approach to investing.

3:02 You won a Globe and Mail award for The Couch Potato blog.

3:50 Can you explain index investing?  Why is it lower cost? What is the difference between passive and active?

7:58 What has held index funds back?

11:59 What made you decide to take the leap from being a full time journalist to a financial advisor?

17:18 What do you think about the growth in actively managed ETFs?

20:54 What do you think of the advent of robo-advisors as a way to fill the market gap for individuals who do not want to do the work on their own?

27:02 The newest product is the all in one ETF portfolio priced really low which seems to give you a lot of advantages of a robo-advisor.  What do you think of those?

36:00 What are three tips that are essential for Canadians to consider when they’re thinking about investing.

In the 21st episode of the MoneySaver Podcast, we chat with Robb Engen, blogger, journalist and consumer advocate.  We talk about how he (along with his mother) co-founded the long-standing blog Boomer and Echo, how he came to be a consumer advocate, how he hopes to reach financial independence by age 45 and he gives his best three financial tips.

Questions Asked:

1:04  You’ve been blogging since 2010.  Can you tell us a little bit of the evolution of your blog Boomer and Echo?  Boomer being your mom and you, Echo.

3:26  How widely read is your blog Boomer and Echo?

4:04  Are you still on track for Freedom 45? Or retirement at age 45?

4:53  Is your wife still home with the kids or do you have another income as well?

5:20  I’ve always admired your ability to manage a full time job and your online presence. 

6:18  How many blog posts to write on a weekly basis?

6:48  I found this fascinating article about how you turned the blog into a profitable business.  Tell us a little more about this.

8:43  What are the main qualities needed to begin blogging as a side-hustle?

10:30  You and I have collaborated on consumer issues before.  What makes you a consumer advocate?

13:43 You decided to start a financial planning practice but without conflicts.

14:50  Can you tell us more about the article that you wrote for The Toronto Star entitled How to make your own financial plan in Eight Easy Steps. 

16:38  Tell me a little more about the eight steps that you identify in the article with the first step step being identify your goals.

 19:32  You’ve identified your goal.  What are the next steps when you’re creating your financial plan?

22:00  At what point does investing come into play?  Do you begin allocating money towards investments or do you pay off debt first?  Or do you do both simultaneously?

24:19  When does creating an investment policy come into play?

28:31  One of the articles that you’re quite well known for was when you changed your investing style.  Are you still following this investing style?

31:15   Now you wouldn’t recommend this to everyone right?  Is there a reason why you don’t have any bonds or fixed income?

33:14  We ask all of our guest for their best three tips for retirement or how to start getting that financial plan in place.

In episode 20 of the MoneySaver Podcast, Ellen Roseman chats with Preet Banerjee, media personality, speaker, author and podcaster about his five personal finance tips that he lays out in his book "Stop Over Thinking Your Money" as well as renting vs. buying, his former career as an advisor and "MoneyGaps."

Questions Asked:

1:07  Tell us a little about your former career as a financial advisor and how you ended up where you are today.

5:14   I remember you did a book about RRSPs.

9:10  Tell us a little bit about MoneyGaps.

19:43  How would I find an advisor who is using MoneyGaps? 

22:14  You wrote a book in 2014 called “Stop Over Thinking Your Money.” Could you describe your 5 simple personal finance rules in “Stop Over Thinking Your Money"?  Disaster proof your life, spend less than you earn, aggressively pay down high interest debt, read the fine print and delayed consumption.

33:26  One of your top videos is about buying a house vs renting where you come down on the renting side.  Do you still feel that way?

36:33 You’ve given our listeners many great tips.  Do you have any others? 

In the 18th edition of The MoneySaver Podcast, we talk to elder law specialist Laura Tamblyn Watts on how to protect seniors from financial abuse, including scams and advice on aging gracefully.

Questions Asked:

1:20  Tell us about a report that you did about vulnerable investors.  Who are they? How should they be protected?

 3:45  One of your key recommendations was for a financial advisor to have the name of a trusted contact to work with them in the event of the client being under undue influence or are  not capable of making responsible decisions. Tell us about that.

5:30  In your work, do you see a lot of people who are subject to abuse by family members or strangers or are being taken advantage of?

11:25  How do you get the banking industry to at least flash some concerns to help protect vulnerable citizens?

17:20  How do you reach older adults who aren’t great candidates for online education since many government services aren’t publishing in paper any longer?

25:50  Do you think that it’s difficult to get this kind of protective campaign accepted by a government if it’s run by much more laissez faire-type individuals?

30:19  Give us some of the stats on seniors in Canada and the growing influence of older people on the population.

32:42  What are your three best tips around senior protection?

In this episode of The MoneySaver Podcast, Ellen Roseman chats with Tim Nash from www.sustainableeconomist.com about sustainable investing for those investors who want to align their investing style with their values. 

And NEW!!!  Ellen and I chat about our first exposure to investing!  We want you to join in the discussion.  Drop us a note with your story of your first exposure to investing and what works for you!  We may read them on a future podcast episode! 

Please send your story to Ellen at www.ellenroseman.com  or on twitter @ellenroseman or Lana on twitter @lana_sanichar or email [email protected]

Tim Nash Questions

1:39  Tell us about your background as an economist and how you became much more involved with investing vehicles.

3:19  Tell us a little bit about how you teach people about sustainable investing.

9:09 As an investor, how can you learn about companies that align with your values? 

12:50  One of the companies that used to be admired wildly was Johnson & Johnson.  Is J&J being dropped from some of these sustainable portfolios since the talcum powder scandal? 

14:55  Do you use webinars or face-to-face meetings to meet with your clients? And what are the costs associated with your service?

18:49  Do you have an opinion on any of the ETFs that are designed for people looking for certain criteria, like the women in leadership ETFs who look for companies with women on the board of directors of companies.

20:43  What about the whole value of the capitalist system?  Can you invest in something that isn’t oriented to growth?

24:41  Can you explain what social impact bonds are? 

27:53  How do you find out about these social impact bonds?

32:18  What are your three best tips on investing and even life?

Ellen's Tips and Tricks:  Ellen and Lana talk about their first exposure to investing and how they increased their knowledge as Do It Yourself Investors.

Ellen chats with Bruce Sellery, speaker, television personality, personal finance expert and author of "The Moolala Guide to Rockin' Your RRSP".  We chat about RRSPs, TFSAs, ignoring the noise and saving for retirement.

Questions Asked:

1:06  Let’s start by talking about your lifelong business career and the switch to business media personality and personal finance.

5:48  How did you come up with the “Moolala” name? 

6:42  Do people still use the word “moola” for money?

6:53  So what you’re really saying is that the business media is about short-term events when really, in personal finance and investing, you should ignore the noise and think long-term?

9:23  In the first Moolala book "Why Smart People Do Dumb Things with Their Money - And What You Can Do About It" you talk a lot about psychological issues surrounding money.  Can you boil it down into a few sentences?

11:51 The internet can help for remaining anonymous when you have questions about money, credit card debt or how much you need for retirement.

12:45  How do you like the transition from employment to working for yourself?

15:00  Do you have a specific niche subject that you talk about or do you cover many topics surrounding personal finance and investing?

18:36  And isn't it difficult to get people to open up to their advisors?

20:11  What are your best tips for rocking your RRSP?

22:26  What do you think about the TFSA and the debate about whether young people should start with a TFSA or RRSP when they're saving for retirement?

25:35  Have you made any money mistakes yourself?

27:43  What are your three best money tips that you use in your life or that you follow?

Ellen's Tips and Tricks:  A confession.  She has withdrawn money from her RRSP.

We chat with Melissa Leong, author of "Happy Go Money", social media and television personality, in the 16th episode of the MoneySaver Podcast.  She talks about how more money won't make you happier and that you should be happy with the money that you have. She also explains what the hedonic treadmill is and how spending money on "experiences" instead of "stuff"  will allow you to be happier.

Questions Asked:

1:03  Tell us about your book “Happy Go Money” and how you embarked on the road to being a published author in the personal finance space.

3:02  Tell us about what happened to your husband.

5:18  Could you explain what the Hedonic Treadmill is?

6:59  Social media is a big influence also.  It makes us think that everyone else has it so why don’t we.

8:59   Is it a problem that we are always looking at other people and comparing ourselves?

11:45  How do you make sure that you are happy with what you have and do not feel like you’re missing out?

15:22  Another thing that you talk about in the book is “experiences” and not “stuff”.

19:22 A lot of what drives our money behaviour is psychology.

21:10  Did you struggle over the writing of your book “Happy Go Money” or was it generally pretty straightforward?

25:12  Tell us a little about your side hustle.

28:52  What steps did you take to get all those sales all around the world.

31:59  What are your three best tips for money and life?

Ellen’s Tips and Tricks

The Gender Wealth Gap.  Let’s be part of the change.

The the 15th episode of the MoneySaver Podcast, we talk to Bob Lai, the blogger behind tawcan.com on the Financial Independence Retire Early or F.I.R.E. He dispels myths to describe how to quit the daily grind and live life (and retirement) the way you want to.

Questions Asked:

0:51  Tell me a little bit about yourself.

 2:13  Can you explain what the Financial Independence Retire Early (F.I.R.E.) movement is?

 9:20  Who is F.I.R.E. for?

 11:32  If you’re interested in following the F.I.R.E. movement, what are the first steps that you should take?

 12:25  Is it akin to penny pinching?

 16:45  I understand that tracking is extremely important in the F.I.R.E. movement.  How much are you saving in terms of percentage as a F.I.R.E. follower?

 17:54  Is investing the primary source of passive income for followers of the F.I.R.E. movement?

 23:39  How do you prepare for large purchases like cars or even funding your children’s education?

 27:01  Is it easier to follow F.I.R.E. here in Canada than in the U.S?

 29:22  Let’s talk about your blog. There are a lot of great topics that apply to everyone regardless of whether they are following the Financial Independence Retire Early movement.

 35:03  What are your three best tips that you can impart to our readers, not only achieve Financial Independence Retire early but also to achieve the retirement they deserve?