Our guest this episode is Brenda Hiscock, a CFP with Objective Financial Partners, one of Canada's leading advice-only planning firms. Brenda's route to financial planning was anything but easy. She lost her mother as a teenager, faced homelessness, battled addiction and overcame a cancer diagnosis, all while building a decades-long career in Canadian financial services. Today, she draws on those experiences to help clients navigate both the numbers and the emotions of money.

In this episode, Dave and Brenda dive into her remarkable life story: the childhood hardship and early family loss that shaped her, and the turning point that came through therapy, mentorship and self-forgiveness. 

The conversation also explores a wide range of retirement topics, including practical tips for people who start their financial planning later in life, retiring abroad, planning for the potential costs of long-term care and the psychology of actually spending your savings later in life. Brenda shares her thinking on protecting parents' retirements before making gifts to their kids, using trusts to protect generational wealth, RRSP meltdowns, delaying CPP and OAS, and facing retirement with a mortgage. 

This episode is packed with practical insights and an inspiring story you won't want to miss. 

Show Notes

(00:00) Intro & Disclaimer

(00:55) Intro to Brenda Hiscock

(02:09) Brenda's Childhood Hardship and Early Family Loss

(05:41) The Trauma of Eviction and Developing an Addiction

(07:31) The Turning Point: Therapy, Mentorship and Self-Forgiveness

(10:54) Overcoming a Cancer Diagnosis and Rebuilding Confidence

(11:54) Tips if You Start Financial Planning Later in Life

(14:10) How Brenda's Life Experiences Have Informed Her Views on Insurance

(16:00) Retiring Abroad

(18:29) Managing Client Fears About the Stock Market

(20:54) Planning for the Looming Potential Costs of Long-Term Care

(22:40) The Psychology of Spending Your Savings Later in Life

(25:08) Protecting Parents' Retirement Before Making Gifts to Their Kids

(27:39) Using Trusts to Protect Generational Wealth

(28:29) RRSP Meltdowns and Delaying CPP/OAS

(30:04) Who Seeks Advice-Only Financial Planning?

(31:01) The Impact of "Millionaire Teacher"

(32:00) Raising the Standards in the Canadian Financial Planning Industry

(35:00) Facing Retirement with a Mortgage

(37:23) Embracing Your Authentic Life Story

(39:50) Conclusion

Our guest this episode is Michael J. Wiener — retired cryptologist and the writer behind the long-running Canadian personal finance blog "Michael James on Money." After a high-tech career in cryptography that produced roughly 20 patents, Michael has spent nearly two decades applying an engineer's rigour to investing and retirement math, helping everyday Canadians make clearer, lower-fee, evidence-based decisions with their money.

In this episode, Dave and Michael dive into the real cost of investment fees, from high-fee group RRSPs to how seemingly small percentages quietly erode a portfolio over decades. They cover the evidence for passive investing over active management, how to optimize RESP contributions, strategies for smoothing taxes on retirement income and whether it makes sense to delay taking CPP and OAS.

The conversation also explores how Michael uses the CAPE ratio to adjust his asset allocation, planning ahead for cognitive decline, the debt paydown vs. investing question and why he's skeptical of Dalbar's famous mutual fund underperformance data. Along the way, Michael shares his takes on real estate investing, reverse mortgages, budgeting for healthcare and long-term care costs, and estate planning essentials.

If you want clear, math-driven thinking on investing and retirement from someone with no product to sell, this episode is packed with insights you won't want to miss.

Show Notes

(00:00) Intro & Disclaimer

(00:57) Intro to Michael J. Wiener

(03:09) The Impact of High Fees in Group RRSPs

(05:23) The Big Impact of Seemingly Small Investment Fees

(07:09) Active Management vs. Passive Investing

(08:46) Optimizing RESP Contributions: Lump Sum vs. Ongoing

(12:02) Smooth Taxation Strategies for Retirement Income Planning

(14:49) Should You Delay Taking OAS and CPP?

(17:02) How Michael Uses the CAPE Ratio to Adjust His Asset Allocation

(20:40) Addressing Cognitive Decline and Managing Your Investments

(22:25) Balancing Debt Paydown vs. Investing

(24:21) RRSP vs. TFSA Debate

(25:55) Is a 100% Equity Portfolio Right for Young Investors?

(27:19) Evaluating Dalbar's Mutual Fund Underperformance Data

(30:34) The Realities and Hassles of Real Estate Investing

(33:28) The Hidden Risks and Rules of Reverse Mortgages

(35:01) Common Financial Mistakes Savers Make in Retirement

(36:38) Budgeting for Healthcare and Long-Term Care Costs

(39:47) Cash Value Insurance vs. Term Insurance for Canadians

(41:24) Essential Estate Planning and Power of Attorney Tips

(42:15) The Importance of Decluttering for the Next Generation

(44:07) Engineering, Cryptography, and Quantum Computing Threats

(45:01) The Story Behind Michael's Pseudonym

(45:49) Finding an Initial Audience and Blogging Success

(46:34) Conclusion

Our guest this episode is Hanif Bayat — founder and CEO of WOWA.ca, one of Canada's largest personal finance platforms. A former quantitative analyst at BMO and RBC with a Ph.D. in theoretical chemical physics from the University of Toronto, Hanif left banking in 2018 to build WOWA into a resource of over 1,000 calculators, guides and market reports now used by millions of Canadians every year.

In this episode, Dave and Hanif dive into the state of the Canadian economy, starting with the story behind WOWA and how it grew into a platform reaching millions of page views. They explore the drivers of Canada's housing affordability crisis, why asset prices have climbed so far beyond the Consumer Price Index, and how loose monetary policy has reshaped what Canadians can actually afford.

Along the way, Hanif shares his perspective on policy solutions for Canada's real estate market, the looming US debt, the lack of financial knowledge among consumers, and where the mortgage industry stands today.

Whether you're trying to make sense of Canada's housing market or curious about the bigger economic forces shaping your finances, this episode is packed with sharp analysis and practical perspective you won't want to miss.

Show Notes

(00:00) Intro & Disclaimer

(00:55) Intro to Hanif Bayat

(06:44) What is the WOWA Platform?

(07:35) Reaching One Million Page Views

(09:16) The Origin of WOWA

(11:37) How AI Could Threaten Content Businesses

(15:09) Drivers of Canada's Housing Affordability Crisis

(18:44) Asset Prices vs. the Consumer Price Index (CPI)

(21:51) Competitive Realities of the Modern Job Market

(23:20) The K-Shaped Economy and the Impact of Asset Prices on Entrepreneurship

(25:55) Policy Solutions for Canada's Real Estate Market

(29:34) The Looming US Debt

(32:07) Addressing the Lack of Financial Knowledge Among Consumers

(35:05) Mortgage Industry Dynamics Today

(36:49) Conclusion

Our guest this episode is Sandi Martin — one of Canada's first advice-only financial planners and a Certified Financial Planner who left retail banking to build a practice built around her values. Sandi co-founded the Financial Planning Association of Canada, co-hosted the Because Money podcast and has spent over a decade championing a simple idea: helping everyday Canadians figure out what "enough" really looks like.

In this episode, Dave and Sandi dive into the advice-only model and why she walked away from the bank to build it. They unpack the CBC Marketplace exposé on the Canadian banking industry, the aggressive marketing of lines of credit and what really happens behind the sales culture most Canadians never see. Sandi also explains her transition into the advice-only space, the early strategies she used to find clients and why she has chosen to run a solo operation rather than scale.

The conversation also explores the everyday planning questions that trip people up, from the emergency fund debate (cash savings versus lines of credit) to the RRSP versus TFSA decision and why accounts are best understood as tools rather than goals. Sandi shares her perspective on the financial nuances of divorce and partnerships, the essential role planners play in building retirement income, the often-overlooked costs of late-life healthcare and assisted living, and why high-fee mutual funds still dominate in Canada. 

Whether you're rethinking who you take financial advice from or simply want a clearer, no-nonsense view of how planning actually works, this episode is packed with practical takeaways you can implement right away.

Show Notes

(00:00) Intro & Disclaimer

(00:55) Intro to Sandi Martin

(03:24) The CBC Marketplace Exposé on the Canadian Banking Industry

(09:52) The Problem with Aggressive Marketing of Lines of Credit

(12:00) Sandi's Transition into the Canadian Advice-Only Space

(14:25) Early Marketing Strategies for Getting Advice-Only Clients

(17:37) Why Sandi Runs a Solo Operation

(19:49) Financial Planning Nuances in Divorce and Partnerships

(24:08) Maintaining Autonomy and Control Over Your Work Schedule

(25:55) Emergency Funds Debate: Cash Savings vs. Lines of Credit

(29:14) The RRSP vs. TFSA Debate and Viewing Accounts as Tools

(34:05) The Essential Role of Planners in Retirement Income Strategies

(38:45) Factoring Late-Life Healthcare and Assisted Living Costs into Your Financial Plan

(42:40) The Dominance of High-Fee Mutual Funds in Canada

(47:08) The Benefits of Talking Openly About Money

(49:37) Conclusion

Our guest this episode is Ben Rabidoux — founder of North Cove Advisors and Edge Realty Analytics, and one of Canada's most closely followed housing and macroeconomic analysts. Ben's data-first research is relied on by institutional investors and real estate professionals across the country, and he returns to the show to break down where Canada's real estate market is headed in 2026.

In this episode, Dave and Ben dive into the state of the Canadian economy and what it means for housing. They unpack the disconnect between strong bank earnings and a weakening economy, the rising power of sales, and what corporate results from companies like Tim Hortons and Pizza Pizza reveal about the health of the consumer. Ben also explains why new rents may be poised for a trend reversal and what the latest data signals for the months ahead.

The conversation also explores the pressures facing real estate agents, whether a coming wave of baby boomer property sales could suppress prices, and early signs of life in the GTA condo market. Ben also weighs in on government tax changes and development fees, blanket appraisals in the condo market, and what next year's mortgage renewal environment could look like.

Whether you're a homeowner, an investor or simply trying to make sense of where Canadian real estate is heading, this episode is packed with data-driven insights you won't want to miss. 

Ben’s Real Estate and Mortgage Intelligence Reports: http://www.edgeanalytics.ca/

Show Notes

(00:00) Intro & Disclaimer

(00:55) Intro to Ben Rabidoux

(02:36) Explaining the Disconnect Between Bank Earnings and the Economy

(04:11) What is Driving the Increasing Power of Sales?

(06:34) Reconciling Weak Economic Data with Packed Restaurants

(10:22) What Tim Hortons' and Pizza Pizza's Earnings Tell You About the Economy

(11:13) Predicting the Trend Reversal in New Rents

(17:17) How Having Fewer International Students is Affecting Certain Markets

(19:55) Alternative Ways to Measure Population Growth

(22:09) Temporary Foreign Workers Program

(23:59) North Cove Advisors and Edge Analytics

(27:42) Real Estate Agents are Facing Pressures

(30:11) Where Are Canadian Housing Prices Headed?

(34:47) Will the Future Wave of Baby Boomer Property Sales Suppress Housing Prices?

(38:00) GTA Condo Market Showing Signs of Life

(38:54) Evaluating Government Tax Changes & Development Fees

(41:34) Blanket Appraisals in the Condo Market

(47:36) Forecasting Next Year's Mortgage Renewal Environment

(50:17) Conclusion

Our guest this episode is Andrea Thompson — Founder and lead financial planner of Modern Cents, a virtual, advice-only firm she launched in 2022 after more than 16 years in the financial industry. A CFP who also writes and marks the national CFP exam for FP Canada, Andrea built her practice to serve Canadians who have cash flow instead of assets, making quality financial advice accessible to younger people and those below traditional asset minimums.

In this episode, Dave and Andrea dive into the rise of advice-only financial planning in Canada. They explore why she walked away from the traditional model to build Modern Cents, the factors fueling the model's growth, how advice-only planners find clients and where the pricing sweet spot lands. They also break down one of the model's biggest hurdles, the implementation gap between receiving a plan and actually executing it, along with the question of whether financial planners and investment advisors should stay in their respective lanes.

The conversation also explores Andrea's specialty in cross-border financial planning, including the common mistakes Canadian residents make with their US 401(k) accounts. They discuss the overlooked psychological and financial value of annuities and why so many people resist them, how young adults should balance saving for a down payment against retirement, and the case for term insurance over permanent cash value policies. 

Whether you're curious about the advice-only model, weighing the value of professional financial advice or navigating the complexities of cross-border planning, this episode is full of practical takeaways you can put to use right away. 

Show Notes

(00:00) Intro & Disclaimer

(00:55) Intro to Andrea Thompson

(02:43) Why Andrea Started Her Advice-Only Firm

(06:43) Factors Fueling the Growth of Advice-Only Planning in Canada

(07:55) Lead Generation for Advice-Only Planners

(09:25) How CFP Education Has Improved Over the Years

(11:55) Community and Collaboration Within Canada's Financial Planning Industry

(13:55) Overcoming the Implementation Challenge in Advice-Only Financial Planning

(21:23) Navigating Investment Execution for Advice-Only Clients

(23:47) Should Investment Advisors and Financial Planners Stay in Their Respective Lanes?

(28:03) Should You DIY Your Retirement Plan?

(29:52) What's the Pricing Sweet Spot for Advice-Only Planners?

(32:27) Cross-Border Financial Planning Challenges

(35:35) Common Mistakes with US 401(k) Accounts for Canadian Residents

(36:53) The Psychological and Financial Value of Annuities

(40:41) Why Don't People Like Annuities?

(43:34) Balancing Down Payments and Retirement Savings for Young Adults

(47:43) Childhood Money Lessons from an Actuary Father

(48:29) Term Insurance vs. Permanent Cash Value Insurance

(50:07) The Critical Importance of Disability Insurance

(51:29) Conclusion

Our guest this episode is Adam Bornn — founder of Parallel Wealth Financial Group and the creator of the Parallel Wealth YouTube channel, one of Canada's largest channels devoted to retirement planning. Adam returns to the show to focus on a single, high-stakes subject: how Canadians can build a retirement plan that actually works, and the common mistakes that quietly derail one.

In this episode, Dave and Adam dive into the realities of the retirement transition, from the most common mistakes people make to how to balance spending early with the cost of care later in life. They break down the "go-go, slow-go and no-go" years, why health and finding joy matter as much as the numbers, and when the ideal time to start planning really is. Adam also explains when it makes sense to convert an RRSP to a RRIF and how a TFSA can act as a flexible lever account inside a broader plan.

The conversation also explores the issues that complicate real-world retirement, including the squeeze on the sandwich generation, why more retirees are helping their adult kids financially, and how to plan around large age gaps or being single. Adam digs into some of the costliest missteps too, from taking CPP early when you don't need to, to letting registered accounts grow tax-deferred for too long and running into the OAS clawback. Along the way, they cover tax planning when liquidating cottages and rental properties, the limited role of reverse mortgages and HELOCs, and how to think about high market valuations and cash wedges in retirement.

Whether you're years away from retirement or already making the transition, this episode is packed with practical, tax-smart insights to help you avoid the mistakes that cost retirees the most. 

Show Notes

(00:00) Intro & Disclaimer

(00:55) Intro to Adam Bornn

(01:30) Common Retirement Transition Mistakes

(03:22) Balancing Early Spending & Late-Life Care

(05:25) Go-Go, Slow-Go & No-Go Years

(07:37) Finding Joy and the Importance of Health in Retirement

(10:56) Adam's YouTube Channel and Focus on Retirement Planning

(13:35) When Is the Ideal Time to Start Retirement Planning?

(15:40) When to Convert an RRSP to a RRIF

(17:35) The Power and Flexibility of a TFSA Lever Account

(19:23) Factoring in Lump-Sum Obligations to Your Retirement Plan

(21:36) Careless Tax Mistakes Can Cost You Huge Money

(23:18) The Sandwich Generation

(25:00) Why Some Retirees Are Helping Their Kids Financially

(28:14) Navigating Retirement Planning with Large Age Gaps

(30:07) The Disadvantages of Retirement Planning for Single People

(31:57) The Biggest Retirement Mistake: Taking CPP Early if You Don't Need To

(34:16) Avoid the Trap of Growing Registered Accounts Tax-Deferred For Too Long

(36:18) Optimizing to Avoid the OAS Clawback

(37:55) Tax Planning When Liquidating Cottages and Rental Properties

(40:53) The Limited Use of Reverse Mortgages and HELOCs

(41:40) High Market Valuations, Equities & Cash Wedges in Retirement

(44:38) Conclusion

Our guest this episode is Benjamin Tal — Managing Director and Deputy Chief Economist at CIBC Capital Markets. Benjamin has spent over two decades publishing CIBC's influential "In Focus" research, has been recognized by the International Monetary Fund as a leading expert on Canada's real estate market and has testified before Parliamentary committees on the country's most pressing economic issues.

In this episode, Dave and Benjamin dive into the state of Canada's economy heading into 2026. They break down what's gone wrong with Canada's real estate market, evaluate recent central bank decisions and unpack the impact of HST/GST relief and development charges on housing supply. Benjamin also explains the structural shift toward a rental culture in Canada and why rent control has been so disastrous for affordability.

The conversation also explores the widening productivity gap between Canada and the U.S. in the AI era and the possibility of universal income guarantees on the horizon. Along the way, Benjamin shares his perspective on monopolies and limited competition in Canadian industry, the overwhelming red tape facing small businesses, the real effects of immigration on the market and why CPI calculations may be understating the true cost of living.

Whether you're a homeowner, an investor or simply trying to make sense of where Canada's economy is heading, this episode is packed with sharp, data-driven insights from one of the country's most trusted economists. 

Show Notes

(00:00) Intro & Disclaimer

(00:55) Intro to Benjamin Tal

(02:32) Why It's Important to Connect Macroeconomics to Personal Finance

(03:15) Understanding Canada's Broken Real Estate Market

(07:23) Evaluating Central Bank Decisions and Interest Rates

(08:05) Impact of HST/GST Relief and Development Charges

(09:48) A Shift Toward a Rental Culture in Canada

(11:38) The Disastrous Impact of Rent Control

(13:22) How the Condo Market and Developer Landscape Is Changing

(16:18) Canada Versus U.S.A. Productivity & The AI Revolution

(20:56) Are We Headed Towards Universal Income Guarantees?

(21:45) Monopolies and Limited Competition in Canadian Industry

(22:23) Overwhelming Regulations and Red Tape for Small Businesses

(24:25) The Current Immigration Situation and its Market Effects

(25:52) Inaccuracies in CPI Calculations and the Real Cost of Living

(26:29) Conclusion

Our guest this episode is Robb Engen — a Qualified Associate Financial Planner (QAFP), advice-only financial planner and the longtime voice behind Boomer & Echo, one of Canada's most-read personal finance blogs. Robb returns to the show to share what he's learned helping regular Canadians plan, save and spend through retirement with confidence.

In this episode, Dave and Robb take a deep dive into one of the biggest paradoxes in retirement planning: why so many Canadians who have done everything right are still afraid to spend their savings. They break down the "golden tax planning windows" in your sixties, the trade-offs between RRSP and TFSA withdrawals and why DIY retirement income planning is much harder than the accumulation years that came before it. Robb also explains how to budget for lumpy, one-time retirement expenses and why the current RRIF minimum withdrawal rules deserve a rethink, especially for single retirees.

Whether you're approaching retirement, already there or just trying to think more clearly about decumulation, this episode is packed with practical, no-nonsense insights from one of Canada's most trusted personal finance voices.

Show Notes

(00:00) Intro & Disclaimer

(00:55) Intro to Robb Engen

(03:15) The Longevity of Robb's Blog Boomer & Echo

(05:56) Why Robb Focuses on "Regular Canadians"

(09:12) The QAFP Designation

(11:19) RRSP vs. TFSA: Retirement Tax Brackets & Delaying CPP

(14:21) The Ideal Age to Start Retirement Planning

(15:31) Why It's Hard to DIY Retirement Income Planning

(17:28) Golden Tax Planning Windows in Your Sixties

(19:17) Budgeting for Lumpy and One-Time Retirement Expenses

(20:30) Rethinking RRIF Minimum Withdrawal Rules for Singles

(23:22) Many Retirees Are Hesitant to Spend

(25:13) How to Get Retirees to Safely Spend More

(27:56) Countering Retirees' Fears of Overspending

(29:25) Unlocking the Tax-Free Compounding Power of TFSAs

(32:05) Is It Wise to Plan Around Worst-Case Monte Carlo Simulations?

(33:55) Robb's Advice-Only Model

(37:36) Will the AUM Model Come Under Pressure?

(39:44) The Value of Advisory Continuity and Turnover Realities

(41:15) Robb's Worries: Navigating Media Anxiety and Alternative Investments

(43:51) Dave's Thoughts on Alternative Investments

(46:05) "One More Year" Syndrome

(48:00) Employer RRSP Matches

(49:50) Conclusion

Our guest this episode is Dr. Daniel Crosby — psychologist, behavioral finance expert and Chief Behavioral Officer at Orion Advisor Solutions. Daniel is the bestselling author of several books on the psychology of money, including "The Behavioral Investor" and "The Soul of Wealth," and is the host of the popular podcast "Standard Deviations." His mission is to help investors and advisors understand how psychology shapes financial decisions and what true wealth really means.

In this episode, Dave and Daniel dive into the psychology behind investing and the behavioral biases that quietly sabotage even the smartest investors. They break down the four major investor biases, why overconfidence is the most damaging of the bunch and Daniel's "Three E's" framework for overcoming them. They also explore why money is emotional rather than purely mathematical and the role behavioral fintech design can play in helping people make better long-term decisions.

The conversation also explores the rise of the "gamblification" of investing, the impact of social media on young investors and why personal benchmarking tends to serve people far better than chasing the S&P 500. Along the way, Daniel shares his framework of believing, belonging and becoming as the keys to a good life, his perspective on managing anxiety in uncertain times and why so many investors still fall into the trap of buying high and selling low.

Whether you're a seasoned investor or just starting to think about your relationship with money, this episode is packed with insights that will help you understand yourself as much as the markets.

Show Notes

(00:00) Intro & Disclaimer

(00:55) Intro to Daniel Crosby

(03:02) Daniel's Path From Psychology to Finance

(05:21) Statistics on Reading

(06:48) The Four Major Investor Biases

(13:12) The Three E's to Overcome Biases

(18:25) Why Overconfidence Is the Most Damaging Bias in Investing

(19:02) Money Is Emotional, Not Just Mathematical

(22:50) Daniel's Role at Orion & Behavioral Fintech Design

(24:56) Personal Benchmarking vs. Chasing the S&P 500

(25:45) Mental Accounting & The House Money Effect

(26:50) The Gamblification of Investing & Young Men

(30:36) Social Media's Damage to Young Investors

(33:51) Believing, Belonging & Becoming: Keys to a Good Life

(38:56) Managing Anxiety in Uncertain Times

(42:05) Why We Buy High & Sell Low

(44:19) Conclusion