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Across Canada, increasing housing prices have made home ownership unaffordable for many. Today we’re talking about the recent announcement by the federal government to help more Canadians get into the housing market: the new Tax-Free First Home Savings Account (FHSA) set to be implemented in 2023. The FHSA is the latest in a long list of investment and savings accounts available to Canadians for saving towards home ownership and retirement goals. At its core, this plan attempts to supercharge a young person's ability to save for a down payment.  In this episode, Marcelo and Keith review why the government is putting the FHSA in place, who can benefit from it, how it works, changes that the government might make before finalizing the FHSA, how it differs from the Home Buyers' Plan (HBP), and more! Thank you for listening! Key Topics: Introducing the FHSA (1:15) Why the FHSA was created (2:48) How the FHSA works (4:13) Tax implications of your FHSA (5:58) Details of the FHSA that are still under review (8:00) Key differences between the FHSA and the Home Buyers' Plan (HBP) (11:51) Who will benefit the most from the FHSA? (13:18) How young people should be thinking about saving for their future (14:38) The ongoing problem with the supply side of the housing market (17:03) Our takeaways on the impact of FHSA’s on the Canadian housing problem (19:27) Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

Home affordability is on most Canadian’s mind these days and is a topic that brings mixed emotions depending on whether you own a home or not. In the last decade, housing prices have skyrocketed. Many in the younger generation can’t afford to buy a home while empty nesters are stuck in larger homes as they can’t find suitable homes in their communities to downsize into. How do we start to tackle this issue? What can be done to relieve the pressure, introduce more supply, and give individuals of all income brackets more choices? Today we’re talking to public policy professional, Steve Lafleur, about the supply side of the Canadian housing market. Steve is a former Senior Policy Analyst at the Fraser Institute whose work has focused primarily on housing, transportation, local government and inter-governmental fiscal relations. He holds an M.A. in Political Science from Wilfrid Laurier University and a B.A. from Laurentian University where he studied Political Science and Economics. In this episode, Steve and Keith talk about what it means to have a supply issue in the housing market, the effect of current policies around housing, why the supply side needs to be addressed, policy changes that are needed to create more affordable housing options, and so much more! Thank you for listening! Key Topics: Why we’re talking about the Canadian home property market (0:56) Introducing Steve Lafleur (4:28) Drive to qualify has become a national trend (6:46) What it means to have a supply issue in the housing market (9:25) How the affordability of housing in Canada compares to the United States (11:53) Density levels in Canadian cities compared to other cities worldwide (14:00) The policy decisions that have kept the supply of housing low (16:59) Supply and demand in the housing market (19:45) What it really means to change supply (22:48) Why the Ontario's Housing Affordability Task Force was created (25:01) The main recommendations to come out of the Ontario's Housing Affordability Task Force (27:37) What’s behind the concern many residents have about changes in their neighbourhood (30:22) How re-zoning policies have been used in other countries and how they could be applied in Canada (33:11) Changes implemented as a result of the Ontario's Housing Affordability Task Force (36:14) Extended benefits of increasing density levels (37:17) The main obstacles to moving forward with rezoning (42:42) How we can effect positive change (45:56) Steve’s key takeaway for Canadians (49:56) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

“A portfolio is like a bar of soap. The more you handle it, the smaller it gets.”  - Darcy Howe Markets around the world are turbulent at the moment as inflation and geopolitical conflicts have many investors on edge. It’s human nature to want to take action in the face of instability. So what can you do to secure your future? Should you change your portfolio strategy? Are there new opportunities to take advantage of? Is it better to stay the course? In this episode, Marcelo and Keith talk about how to manage money during turbulent times. We explore the research around the performance of tactical asset allocation strategies, why these “opportunity funds” are appealing to many investors, how balanced funds perform compared to tactical allocation, key strategies you can use to weather the storm of volatile markets, and so much more! Thank you for listening! Key Topics: Introducing today’s topic and the four themes we’ll be covering (0:48) Why many investors might be wondering if it’s time to adjust their portfolio (1:56) What are tactical asset allocation strategies? (3:39) Testing our hypothesis about the effectiveness of moving money around (6:54) Tactical allocation versus balanced fund returns over the last 20 years (8:04) Adjusting for survivorship bias amongst tactical allocation funds (10:16) How portfolio structure trumps trading (13:28) Why outperforming the market consistently is highly unlikely (15:01) Market timing and the massive impact it has on your portfolio (17:36) The long-term value of consistency (21:44) Diminishing returns from tactical allocation (23:15) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

Tax season can be quite a stressful time for many investors. We have dedicated this episode to getting you up to speed on the key areas you should be thinking about as you prepare to file your taxes. To help us dive deep into this topic, we’re joined by our own Hugh Campbell, a longtime Partner at Tulett, Matthews & Associates. Hugh is a Chartered Accountant and he oversees the tax preparation services offered to many of our clients of the firm. He graduated from McGill University with a BSc in Neurobiology & Physiology and later completed a diploma in Accounting at McGill before completing his CA. Thank you for listening! Key Topics: ●     How an RSP helps you pay yourself first (1:46) ●     The tax savings you can achieve through an RSP (2:28) ●     Why you must file your taxes on time (3:50) ●     Coordinating your family’s tax returns (5:50) ●     Declaring government payments on your tax return (7:13) ●     Can you claim a deduction for your work from home expenses? (8:55) ●     What you need to consider before claiming a home office deduction (10:49) ●     The general rule for determining which expenses are tax-deductible (12:35) ●     Tax credits available for seniors and retirees (13:40) ●     Disability tax credits (14:31) ●     The strict reporting rules around real estate transactions (16:14) ●     Why it’s important to consult a tax professional when settling an estate (18:00) ●     Reporting your foreign income on your Canadian tax return (19:17) ●     Being proactive in your tax reporting (20:40) ●     Incentives for charitable giving (22:30) ●     Why taxes are so variable from one person to another (24:57) ●     Responding to a Notice of Assessment (26:36) ●     What to do if you can’t afford to pay your tax bill (28:17) ●     How long should you keep your records? (30:05) ●     Key takeaways to keep in mind for tax season (31:26) ●     And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

Government pension programs give Canadians a source of reliable retirement income, even if they were unable to consistently save on their own. Despite being reluctantly received when they were first created, most Canadians count on government pensions as a valuable part of their retirement. Depending on where you live and your unique circumstances throughout your life, understanding your pension options can be challenging. Today Keith is joined by his colleague, Edmond Fhima to discuss the Canadian Pension Plan (CPP), Quebec Pension Plan (QPP) and Old Age Security (OAS). Edmond Fhima is a licensed financial planner at Tulett, Matthews & Associates and he's been in the financial industry for over 30 years as a licenced fee-only financial planner. Edmond currently provides clients with advanced strategies for estate planning, insurance planning, cash flow and debt management, tax planning, investment planning as well as retirement planning. In this episode, Edmond and Keith talk about how CPP, QPP and OAS work, the history of these programs and recent reforms, what you need to consider when deciding when to take your pension benefits, how survivor, disability and orphan benefits are calculated, and so much more! Thank you for listening! Key Topics: Welcome Edmond (0:39) The unique way Edmond's practice works (1:29) How CPP and QPP work (3:11) Why pensioners receive different amounts in CPP/QPP payments (4:38) What is OAS? (5:39) The history of Canadian pension programs (7:01) How to make CPP/QPP contributions (9:53) The forced savings aspect of CPP/QPP contributions (11:09) Major reforms to CPP and QPP contribution amounts in recent years (12:07) Considerations for deciding the age to start receiving your CPP/QPP benefits (16:08) How an advisor can help you when it comes to your CPP/QPP pension (18:00) The extra protection you gain by deferring your CPP/QPP pension (20:11) Qualification criteria for receiving survivor benefits work (22:10) Disability benefits under the CPP/QPP and how they impact your pension at retirement (23:54) Who is eligible to receive an orphan benefit (25:07) The latest CPP/QPP reforms to enhance retirement benefits (26:25) Qualification criteria for OAS (30:42) Why you might want to defer your OAS pension (31:53) What you need to know about income testing under OAS (32:54) Our main takeaways about CPP, QPP and OAS (36:10) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

“Past performance is not indicative of future results.” It’s a common phrase that you’ll see on a lot of investment material but its implications are often missed by investors. Chasing performance is what happens when you see a stock or sector performing well or other investors reaping big rewards so you decide to buy in at the high levels. It’s not at all a new phenomenon as there are always stocks with new and exciting stories inducing the fear of missing out. In this episode, Marcelo and Keith explore what chasing performance looks like, examples from the last two years that have trapped investors and destroyed capital, why many investors end up chasing performance, why money-weighted returns are important and how to avoid chasing performance. Thank you for listening! Key Topics: Introducing today’s topic (1:58) Why many investors are pulled towards chasing performance (3:04) What it means to chase performance (4:04) Why it’s important to share real-world stories about the impact of chasing performance (5:51) The emotional pull towards exciting narratives and being part of a successful group (7:03) The amplifying effect of social media (8:00) Why chasing is dangerous for your portfolio (9:53) The declining performance of disruptive technology stocks over the past 18 months (10:38) How strong narratives are reflected in the stock prices for certain sectors (12:10) Comparing the performance of blue-chip stocks and disruptive securities (15:46) The disappointing journey of marijuana stocks in Canada (18:03) Chasing performance in the 1990s (21:25) The effectiveness of diversifying with The ARK Innovation ETF (22:48) Why you need to understand money-weighted returns (25:05) The problem with a “core and explore” portfolio strategy (27:00) How Sir Isaac Newton lost his fortune chasing performance in the early 1700s (27:53) Strategies you can use to avoid the lure of chasing performance (31:21) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112  Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more!  Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

All of us at Tulett, Matthews & Associates are shocked and saddened by the human and emotional toll the conflict is inflicting on the Ukrainian and European populations. With heightened investor anxiety, we have recorded this episode to shed some light on how the stock markets have reacted to past wars and global conflicts and what it might mean for current long-term investors. In this episode, Marcelo and Keith talk about geopolitical risk/shock in investing. When we're facing major geopolitical events, war, health crises, or a recession, many investors' immediate reaction is that we've never seen something like this before. We hear - this time is different. Unfortunately, that often leads investors to make short-term, reactive decisions that ultimately harm their long-term investment plan.   We hope that today's episode helps you with perspectives on long-term investing. Key Topics: Introducing today's topic (0:55) Why we're talking about the implications of the Ukraine war (2:41) Geopolitical risk is not a new aspect of investing (3:10) The dangers of the "this time is different" concept (4:05) How social media feeds into our fears (7:17) Trends in stock market reactions to major geopolitical events (8:31) Distinguishing between a geopolitical event and a recession (10:28) Russian equity exposure and portfolio construction (12:49) How investment organizations are decreasing their exposure to Russian equities (13:43) Getting through these crises and preparing for the future (15:14) The lifeboat drill we use with our clients (16:11) Your capacity and emotional ability to bear risk (17:25) Investment philosophy as a central pillar of your investment plan  (20:01) The key to ensuring your portfolio can weather any storm (21:29) Our main takeaways for investors (23:19) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

“There are two topics that will affect your life whether you're interested in them or not: money and health.” - Morgan Housel While we’re typically here to provide insights on financial topics, we've realized that our listeners would greatly benefit from a fresh perspective on concepts that are equally as important to their overall wellbeing. Our first episode exploring this angle was with author Andrew Hallam. While the world's noise encourages us to think that more is better and newer is best, Andrew’s message on balance to increase happiness and satisfaction resonated loud and clear with our listeners. We knew we needed to share more. Today we’re joined by Heather Martin, author of The Wheel of Wellness. Heather’s book presents us with not only the seven key habits of healthy, happy people but also a clear roadmap on how to implement them in our lives. With a combination of scientific research and her naturopathic experience, Heather explains why each element of her wheel matters and why they integrate well together. In this episode, Heather and Keith talk about her motivation for writing The Wheel of Wellness, the changing public perception of wellness, the role of genetics versus lifestyle in longevity, how to start the journey of finding your purpose, and so much more! Thank you for listening! Key Topics: Introducing Heather Martin (1:57) Why we're talking about wellness (3:56) What is wellness? (6:12) The rising interest in health and wellness (7:26) Heather’s mission for The Wheel of Wellness (8:51) The science of wellness (10:19) The pioneering work of Candace Pert (11:33) Our evolving perspectives on wellness (13:50) How Heather’s mother inspired her to go deeper into wellness (16:49) What makes the Wheel of Wellness unique? (19:51) The role of genetics versus lifestyle in longevity (21:13) Why community is at the center of the Wheel of Wellness (23:42) How to start building your community (25:47) Eating well and the Rule of Four (29:10) Improving your habits with incremental changes (32:25) How Heather uses the 80/20 rule to find balance (33:22) Thinking about your lifestyle with a wider lens (35:06) The protective value of sleep (39:26) Why melatonin supplements may do more harm than good (42:16) Heather’s top recommendations for getting a good night’s sleep (43:30) How your constitution impacts your health and wellness (44:54) Ayurveda and the three constitutional types (46:51) Physiological benefits of a mindset of gratitude (50:03) Effects of endorphins and stress hormones on our bodies (53:14) Finding the cross-section between what brings you joy and your talents (56:41) The power of combining elements of the wheel (1:01:26) Key takeaways from The Wheel of Wellness (1:03:15) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

The 4% Safe Withdrawal Rule was created as a guideline for how much you can withdraw from your portfolio in each year of retirement without running out of money. In an ideal world, following the 4% rule would allow you to plan your retirement cash flows in a way that ensures your investments can support you throughout retirement. But as with all generalizations, the 4% rule comes with both advantages and disadvantages. Today we’re exploring how the 4% rule came to be and whether it’s still valid for Canadian investors in 2022. Keith is joined by his colleague, Lawrence Greenberg, who is part of our next-generation advisory team. Together, they discuss the intricacies of this financial theory and whether or not it is applicable in all economic environments. Key Topics: Why we’re discussing the 4% safe withdrawal rule (1:47) The meaning and origin of the 4% rule (2:25) Modifying the 4% rule for early or late retirement (6:14) Why the 4% rule has become a fascinating concept for Canadian investors (7:26) What the research tells us about the retirement readiness of the average Canadian (8:43) Your burn rate versus the 4% rule (10:40) The benefits of figuring out your burn rate (13:55) Why the 4% rule needs to be adjusted in the current market landscape (15:12) The impact of current stock valuations and bond yields on future safe withdrawal rates (16:08) Critical factors that are not accounted for under the 4% rule (17:34) Variable withdrawal rates (19:04) One of the main criticisms of the 4% rule (21:06) Our approach to planning retirement cash flows (22:18) The three stages of retirement spending (23:23) Our key takeaways (25:49) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

In this episode, Marcelo and Keith review how asset classes performed in 2021. Last year was a unique year in global stock markets. If you look at a chart of stock market performance for 2021, it looks pretty steady. But when you dig a little deeper you’ll see that there was style and leadership turbulence underneath. Coming out of the end of 2020 - a period when you almost couldn’t lose in the market - 2021 was a year that separated the investors who stuck to their well-planned portfolio strategy from those who bought into the narratives and stock stories that came up earlier in the pandemic. We will review investment strategies and principles for investors to apply with their portfolios as we head into 2022.  Thank you for listening! Key Topics: Introducing today’s episode (1:44) How the various asset classes performed in 2021 (2:19) Companies whose returns flopped during 2021 (4:00) Industries that struggled during 2021 (7:14) The power of a story (8:58) What’s behind the rise in inflation (10:45) The skyrocketing housing market (12:43) IPO performance in 2021 (17:00) Cathie Wood and the ARK strategies (19:58) The important difference between time-weighted and money-weighted returns (21:36) The big themes of 2021 (27:36) Our key takeaways for investors (28:22) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

As investment professionals, we focus a lot on saving, investing, and retirement planning. But a successful life is about more than just money, it’s about satisfaction and happiness.  Today we’re widening our scope and bringing a sense of purpose to why we work and why we have money. To explore this topic, we’re joined by bestselling author Andrew Hallam who shares his strategies and the research that has been done on how to improve our life satisfaction levels. Andrew Hallam is the international best-selling author of Millionaire Teacher, The Nine Rules of Wealth You Should Have Learned in School, and Millionaire Expat: How To Build Wealth Living Overseas. His latest book, Balance: How to Invest and Spend for Happiness, Health, and Wealth, takes readers on a holistic journey of success. Profiled on such media as CNBC, and The Wall Street Journal, he's also the first person to have a #1 selling finance book on Amazon USA, Amazon Canada, and Amazon UAE. He has written columns for The Globe and Mail, Canadian Business, MoneySense, Internaxx, and AssetBuilder. Since 2016 he has spoken at businesses and international schools in over 30 different countries. In this episode, Keith, Marcelo, and Andrew talk about why we invest, what success looks like, the four quadrants of success, the importance of connection and relationships, the power of gratitude, saving for experiences, and so much more! Thank you for listening! Key Topics: Introducing Andrew Hallam (1:00) Why Andrew wrote Balance (5:11) Redefining success (7:10) Digging into why we invest our money (9:27) The four quadrants of success (11:42) Spending for life satisfaction (14:48) Why continuously upgrading reduces our life satisfaction (17:04) The desert island litmus test (20:18) What the Blue Zones teach us about relationships and life satisfaction (23:36) The importance of human connection (27:05) The happiness curve (30:47) Recognizing what matters most (33:02) Managing the social pressure to acquire status symbols (35:33) Setting boundaries for social media (37:29) Embracing appreciation (40:46) Improving your spending patterns (44:10) Aligning your spending with your values (46:19) Rethinking early retirement (49:53) Andrew’s career as a high school teacher (52:49) The inspiration for writing Millionaire Teacher (55:09) What research shows about the benefits of working past 65 (1:04:15) Expanding your perception of time (1:07:12) Finding a sense of accomplishment and purpose (1:10:41) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

One of the things a lot of us regret is not getting serious about our finances at a younger age. By developing great financial savings and investment habits early, young adults can significantly increase their odds of long-term financial stability and success. If you have kids between the age of 16 and 30 or are in that age category yourself, and are wondering how to start saving and investing, this episode is for you.  Marcelo Taboada and co-Host Lawrence Greenberg are joined by Ryan (20) and Matthew (17) for today's episode. Ryan and Matt share their refreshing perspectives on saving and investing. They talk about the important role social media plays in introducing young people to investing, the key lessons they’ve learned, their best advice for other young people, and so much more! Thank you for listening! Key Topics: Introducing Ryan and Matthew (4:37) How TikTok helped Matthew realize he should start investing (6:14) Why Ryan chose Boeing for his first investment (7:00) Ryan’s current portfolio strategy (8:55) Matthew’s portfolio composition (10:18) Managing the unknown aspect of cryptocurrencies (11:18) Using research to combat FOMO (14:09) Ryan and Matthew’s approach to learning about investing (16:08) How learning about crypto helps Matthew’s stock portfolio (18:08) Balancing saving and personal spending (20:31) Common pitfalls that prevent young people from saving and investing (22:46) Developing behaviours that will benefit your finances for life (24:57) Missteps in investing (26:08) Ryan and Matthew’s best advice for young people and saving (27:57) What young people need to know about investing (29:13) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

Inflation can be an investor’s worst enemy. It has the potential to deteriorate the financial structure you’ve worked so hard to build. By understanding what drives inflation, you can take steps to protect your financial affairs; despite economic uncertainty. In this episode, Marcelo and Keith talk about why the current inflation rates are a problem, how we got here, the big debate on how long these rates will last, implications for you as an investor, and so much more! Key Topics: What you need to know about the current rates of inflation (1:49) Economic factors driving inflation (2:38) The huge jump in gasoline prices (3:19) Understanding the 10-year implied inflation rate (4:39) Why we’re seeing inflation on the rise (7:03) The destructive impact of inflation on our day-to-day lives (9:07) Getting perspective on the current inflation rates (12:05) How long we can expect inflation rates to stay high (13:38) The groups whose income is protected and those who are most vulnerable (16:14) Adjusting your expectations as an investor (18:20) The benefit of investing in businesses (20:37) Day-to-day implications for your budget and savings (22:43) Why proper financial planning is more important now than ever (25:29) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

Custodians provide confidence and a secure network in the world of portfolio management. While a portfolio management (PM) firm is responsible for managing money, portfolios, and other wealth management services, they don’t hold money or client accounts at the firm. That’s where a third-party independent custodian comes in. Today we’re getting the inside scoop from Matthew Pollock on the role of custodians in the financial services world. Matthew is Regional Vice President at National Bank Independent Network; one of two custodians that TMA works with to custody client assets. In this episode, Matthew and Keith talk about why third party custodians are crucial partners for PM firms, how discount brokerages can afford to offer no trading fees, the latest trends Matthew has identified from his work with PM firms across the country, succession planning in PM firms, and so much more! Thank you for listening! Key Topics: Why custodians are important for PM firms (1:33) Introducing Matthew Pollock (2:53) What is a custodian? (5:17) What it means to be an independent firm (5:43) Why we chose to be an independent PM firm (6:47) Different service offerings of portfolio managers (7:50) Advantages of the US Registered Investment Advisor model (9:11) Huge opportunities for independent firms to expand their services (11:30) Why discount brokerage platforms can charge zero trading fees (14:40) What makes the professional money manager model different (16:28) Benefits of working with a custodian (18:19) How custodial relationships protect investors from bad actors (19:58) Why it’s difficult to get a portfolio manager license (22:26) Using technology to provide a better client experience (24:41) Emerging trends in client communication (25:53) Why we think the move to virtual is here to stay (27:08) Succession planning for portfolio management firms (29:16) TMA’s Next Gen Advisor strategy (30:19) Why experienced investment advisors are leaving large firms (31:02) Why Matt enjoys working with independent PM firms (33:20) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

Without proper financial planning, death can result in a heavy tax burden for the family left behind. Whether we want to think about it or not, every family experiences the sad situation of losing someone dear to their heart. Unfortunately, while coping with their grief, families often find themselves having to deal with a large burden brought on by the management of the estate. As an empowered investor, proper estate planning is crucial. That starts with being aware of the common pitfalls and understanding when to seek help from professionals so you can reduce this burden as much as possible. To help us navigate the topic of death and taxes, I’m joined by my colleague, Hugh Campbell. Hugh Campbell is a Partner at Tulett, Matthews & Associates and is responsible for legal, accounting, and other administrative functions of the firm. Hugh is a Chartered Accountant and is also responsible for overseeing the tax preparation services offered to the clients of the firm. In this episode, Ruben and Hugh talk about the role of the executor of the estate, why it’s important to work with legal and financial professionals for estate planning, the implications of not having a proper will, how different types of investments are treated after death, why the winding up of an estate takes so long, and so much more! Thank you for listening! Key Topics: The most important thing you should do to plan for death (2:45) Why the executor/liquidator is so important (4:49) The honor and burden of the executor (5:56) Why it’s a long process to wind up an estate (7:35) The need for a detailed list of assets and debts (8:09) Thinking about estate tax (10:23) What you need to know about probate (11:22) How retirement accounts are taxed at death (13:55) The connection between estate planning and your tax burden (16:07) Tax considerations for TFSAs held at the time of death (17:06) The importance of paperwork (18:59) Maximizing how much your beneficiaries receive from your estate (21:04) What to consider if you own shares in a private corporation (23:58) Complications that arise around partnerships (25:07) Tax filing requirements after death (26:16) An executor's final responsibility (29:13) How financial and legal professionals can help (31:54) Hugh’s key takeaway for Canadians (32:49) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

Between transitioning from residency to retiring from professional life, doctors need to give careful consideration to their financial planning. Today we’re discussing the crucial planning stages in a doctor’s career and the tax and financial planning matters to consider. We’re joined by Riccardo Zerbino of Baker Tilly to help us explore this topic in more detail. Together, we’ll break down the key issues and considerations for young doctors, mid-career doctors, and retired doctors and shed some light on how to set yourself up for success at each stage. Riccardo holds the position of Director of Taxation at Baker Tilly Montreal and a professor at McGill University. With nearly ten years of professional experience in audit and taxation, Riccardo has helped his clients better understand the world of corporate taxation; a complex and constantly evolving sector. Riccardo holds a university degree from McGill University, earned the Chartered Professional Accountant designation, and followed with a Masters in Tax Law (LL.M.) obtained at HEC Montreal. He is also involved in charity with the Leukemia & Lymphoma Society of Canada and motionball. In this episode, Ruben, Marcelo, and Riccardo talk about early career challenges for doctors, what to do about student loan debt, whether doctors benefit from forming a corporation, the advantages of RSPs and IPPS, what doctors need to think about when it comes to retirement planning, and so much more! Thank you for listening! Key Topics: Welcome Riccardo (3:52) Early career challenges for young doctors (5:19) Potential benefits of delaying repayment of student loans from medical school (6:15) How financial professionals can help with cash flow management (7:47) The problem with following peer advice on your finances (9:59) When doctors should start thinking about incorporation (11:58) How tax reforms have impacted professional corporations (14:53) Why mid-career doctors should take advantage of RSPs (17:52) Mitigating risk by utilizing RSPs (19:28) Deciding between taking dividends or a salary (22:13) Understanding IPPs (23:34) The main advantages of using an IPP (25:36) Retirement considerations for doctors with corporations (27:15) What doctors need to know about estate planning (28:58) Who will benefit from doing an estate freeze? (30:10) Family trusts for doctors (32:15) The benefits of working with a financial advisor (35:01) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

Emotions and investing are not a great cocktail. As we head into the last quarter of 2021, there is plenty of uncertainty in the economic environment being fueled by the unpredictable Delta variant. Volatile markets and uncertain consumer trends may have you feeling like you need to jump in and react. Today we’re helping you navigate the current economic climate by looking at what you need to know about the Delta variant and the do's and don’ts for investors. In this episode, Marcelo, Ruben and Keith talk about how the Delta variant has impacted investors so far, what we’ve seen in the bond and stock markets, the pitfalls you need to avoid as an investor, why your investment philosophy is your biggest asset, and so much more! Thank you for listening! Key Topics: What is the Delta variant? (1:26) The Delta variant’s impact on investors so far (2:36) How uncertainty and emotion are reflected in the economy (4:22) The bond market’s reaction to the Delta variant (6:30) Rotations in the stock market (7:35) Factors that have helped the stock market to keep going up as a whole (10:07) Should you get out of the stock market? (13:13) The problem with making reactive financial decisions (14:54) Changing your investment style (16:11) Short-term thinking and emotional decisions (17:38) Relying on your investment philosophy (19:24) Pitfalls for investors to avoid in the current economic climate (20:06) Our key takeaways for investors (22:02) Our upcoming French podcast, L'investisseur Transformé (23:34) And much more! Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

With the number of easily accessible robo-advisors on the rise, there has never been an easier time for Canadians to start saving and investing. With as little as $100 per month, you can build diversified portfolios at a relatively low cost which is a very empowering option. In this episode, Marcelo, Lawrence and Keith discuss how Robo-Advisors work, the opportunities and advantages created for Canadian investors, as well as the risks and dilemmas of using these investment platforms. Key Topics: Lawrence’s background and journey into wealth management (1:38) What is a robo-advisor? (4:00) Advantages of using a robo-advisor (6:04) Why robo-advisors create more opportunities for Canadian investors (7:19) Drawbacks of investing with a robo-advisor (8:34) Understanding the limits of robo-advisors (10:20) How Lawrence helps our young investors to get started with Wealthsimple (12:13) Young investors’ experiences using Wealthsimple (13:12) Comparing Wealthsimple and Tangerine (14:55) The value of empathy in investing (16:05) Feedback from young investors about using robo-advisors (17:01) How robo-advisors are democratizing access to investing (19:01) The three doors of Wealthsimple (21:18) Why robo-advisor platforms can end up distracting investors (22:34) The slippery slope of the core and explore portfolio strategy (24:11) Creating market value at the expense of the end-user (25:36) The negative effect of the gamification of investing (26:54) Our key takeaways for Canadian investors (28:40) Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

With increasing global connectedness, the world today is smaller than it’s ever been. Countries are coming together to share information in a global trend towards greater transparency and with that, undeclared assets are much more likely to be discovered. So if you’ve found yourself in a situation with undeclared assets, what can you do to get on the right side of things? That’s where voluntary disclosures come in, allowing taxpayers to come forward voluntarily and correct tax filings with the assurance that there will be no investigations for tax avoidance or evasion. To help us explore voluntary disclosures, we’re joined by an expert in the field, Stephen Solomon. Stephen is a partner at De Grandpré Chait and North American chair of the Global Tax team of Interlaw and he has extensive experience with the provincial and federal voluntary disclosure programs, especially in the context of undeclared foreign assets and income. In this episode, Marcelo and Stephen talk about how Canadians can utilize the voluntary disclosure program, the advantages of the program, and the consequences for non-disclosure. Key Topics: Why Canadian investors need to know about the voluntary disclosure program (1:00) Introducing Stephen Solomon (2:59) Why Stephen became a lawyer (5:35) Stephen’s unusual journey to a focus on tax law (7:11) Stephen’s introduction to offshore banking and voluntary disclosures (9:10) How the voluntary disclosure program helps Canadian taxpayers (12:03) Common scenarios where voluntary disclosures are used (14:27) Canadian tax obligations that apply to your foreign holdings (15:50) Two types of voluntary disclosure programs (18:08) The psychological side of non-disclosure (20:20) Why we’re seeing an increase in voluntary disclosures (21:43) The global trend towards greater transparency (23:25) Global initiatives to reduce corporate tax avoidance (24:51) Case studies of voluntary disclosure versus getting caught (25:31) Why the process of determining taxes owed often gets complicated (27:32) Advantages of working with an experienced team (28:58) What to do if you find yourself with undeclared assets (31:14) Inheriting undeclared assets (32:49) How the tax planning landscape has changed in recent decades (34:09) Why it’s worth your while to research tax planning strategies (35:11) Tax considerations when trading cryptocurrency (36:58) Why it’s crucial to maintain your own records for cryptocurrency transactions (38:53) Our key takeaways for Canadian taxpayers about voluntary disclosures (40:58) Thanks for Listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112  Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more!  Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)

In early 2020, Canadians were worried about how the pandemic would negatively impact their financial affairs.  One year later, Canadians are pleasantly surprised to see how well they've done, both in terms of their investments and their home values.  In the 1st part of this podcast, Marcelo and Keith dive into the 2021 Credit Suisse Global Wealth Report and share how Canadians are performing in net worth growth relative to the US and other global players. They discuss the key factors that played a role in the increased net worth of Canadians.  In the second part of the podcast, Marcelo and Keith discuss the latest increased inflation numbers, how inflation impacts your finances, and what you can do to strengthen your portfolio.  Key Topics: PART 1: Increasing Net Worth  Why client annual reviews have been especially positive this year (2:43) Spectacular net worth gains in 2020/21 (3:47) What the Credit Suisse Global Wealth Report 2021 revealed about the net worth of Canadians (4:55) The three main factors that contributed to the growth of wealth (6:02) How the growth of wealth in Canada compared to the decline of the economy (8:03) What the Credit Suisse Global Wealth Report highlights about wealth inequality (9:10) Unprecedented stock market performance during the pandemic (10:31) The current state of the Canadian real estate market (12:19) How the real estate market factors into the growth of wealth (13:40) Comparing Canadian and US house prices (15:06) PART 2: Inflation  Why investors need to be aware of how inflation impacts their finances (17:21) My experience with high inflation in the 1970s (18:45) Opposing expert views on inflation (20:29) How increasing inflation in the past year has affected Canadians (22:24) Why we can’t predict the outlook for inflation (24:22) The role our collective psychology plays in how the economy functions (25:14) The potential impact of inflation on your portfolio (27:02) Why diversification is one of the best tools for strengthening your portfolio (28:47) Keeping realistic expectations (29:49) Thank you for listening! Be sure to subscribe on https://podcasts.apple.com/us/podcast/the-empowered-investor/id1508663970 (Apple), https://podcasts.google.com/?feed=aHR0cHM6Ly9mZWVkcy5jYXB0aXZhdGUuZm0vdGhlLWVtcG93ZXJlZC1pbnZlc3Rvci8 (Google), https://open.spotify.com/show/1mBnYMtqkbGqP2xyEThAUc (Spotify), or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on https://www.linkedin.com/company/tulett-matthews-&-associates-inc/ (LinkedIn), https://www.facebook.com/TulettMatthewsAssociates/ (Facebook), and more! Follow The Empowered Investor on https://www.facebook.com/theempoweredinvestor/ (Facebook), https://www.linkedin.com/company/theempoweredinvestor/ (LinkedIn), and https://www.instagram.com/theempoweredinvestor/ (Instagram)