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The MoneySaver Podcast

Journalist Ellen Roseman, and Canadian MoneySaver Editor in Chief Lana Sanichar interview leaders in personal finance and investing, as well as top bloggers, authors and entrepreneurs. The goal is to help you save money and increase your assets. Learn how to make smart choices at every stage of your life, safeguard your interests and protect yourself from poor advice. Sponsored by Canadian MoneySaver Magazine. Follow us on Twitter @lana_sanichar, @ellenroseman, @cdnmoneysaver The views and opinions expressed by the Guests are theirs alone and do not necessarily represent the views and opinions of Ellen Roseman, Lana Sanichar, Canadian MoneySaver Magazine or the MoneySaver Podcast.

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Robo-Advisors, Women in the Boardroom and Investing

In the Episode #8 of the MoneySaver Podcast, we talk to Tea Nicola, CEO of Wealthbar, a robo-advisor.  We talk about robo-advisors, women in the boardroom, investing advice and Nicola Wealth Management funds. 2.49   How did your family connections help you get started? 4:55 Tell us what your firm is, what it does and what led you to opening this type of firm instead of a traditional firm. 7:55 How’s it going so far and who is your typical client? 9:20 Suppose I’m one of those pre-retirement people. How much advice would I receive from you and how do you deliver it? 11:40 I understand that In your firm, I will have a dedicated advisor. That is different from other firms that are robo-advisors. 14:00 And how do you like being a woman in the financial services industry? And how do you feel about encouraging female clients to handle their own money? 18:06 Are women well represented within your client base? 19:57   You are also involved in the government of Canada’s digital industries table. Can you tell us what that is and why you decided to take part? 23:08 You are also part of Nicola Wealth Management in that you offer some of their funds. How do you decide how much of the managed funds go into somebody’s account vs the ETFs that you also use. 25:30 What are the top 3 tips that you have found helpful? 28:37 Do you offer a socially responsible portfolio?

34mins

27 Sep 2018

Rank #1

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Financial Independence Retire Early (F.I.R.E.)

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?

40mins

4 Mar 2019

Rank #2

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Getting Beyond Shame and Blame to Reduce Your Debt

In episode #14 of the MoneySaver Podcast, Ellen Roseman chats with Shannon Lee Simmons, CFP and author of Living Debt Free about how she racked up over $9000 worth of debt in a fourteen month period and how guilt, shame and regret took over because of the debt. Questions Asked: 1:29  Tell us about the experience of being in debt and what you learned from it. 5:17  And you were worried about your now husbands reaction.  But it turned out to be ok? 7:16  How long did it take for you to raid your RSP to clear up the debt? 12:05  What made you decide to write your book and how is it different from other financial books on the market? 17:52  How long have you been a financial planner? 18:15 You’ve actually included some case studies in your book.  19:33  I understand that your main focus is the average, everyday Canadian.  How do you make financial planning accessible to those who may not necessarily be able to afford financial planning? 21:47  What does affordable mean in terms of your services? 26:34  Do you find that online courses work well? 32:02  What are your three best tips on money, life, and managing your money and your life. Ellen’s Tips and Tricks : What you can do when you run into problems with your new or newly purchased used car!

41mins

7 Feb 2019

Rank #3

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Episode #4: Rob Carrick from the Globe and Mail on Boomers, Real Estate, Investing and Robo Advisors

In the fourth episode of the MoneySaver podcast, we speak with Rob Carrick, personal finance columnist for the Globe and Mail.  We talk about Boomers, Millennials, your home as an investment, car loans Robo Advisors and a variety of other personal finance topics. Topics: 1:07:  How did you get into writing advice columns about money? 2:49: As a contrarian, what do you think about housing as an investment? 3:50: How will rising interests rates will affect Canadians who own homes? 6:18: Do you think Canadians are well-served by their banks? 8:40:  How do we teach our kids about money?  Is including personal finance as a part of the educational curriculum the answer? 11:45:  With regards to investing..what will it take to get Canadians to switch from their love affair with mutual funds to more low cost options like ETFs? 13:25:  What is a Robo Advisor? 20:10:  Do you follow your own advice when it comes to you and your family? 21:00:  So you're not a fan of the budget? 22:04:  What do you think of frugality? 24:00:  Boomer parents taking away from their retirement to help their children with money. 28:28:  Regarding frugality and splurging, what are some of the things that you splurge on? 29:23:  Do you save up in advance or use your credit card? 31:38:  Have you taught your kids about money?  Do they share your attitudes? 31:53:  What are your three best tips about what to do with your money? 34:21:  Ellen's Tips and Tricks:  Car and Home Insurance

36mins

18 Apr 2018

Rank #4

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Episode #5: Kelley Keehn, Personal Finance Educator

In the fifth episode of The MoneySaver Podcast, we speak to Kelley Keehn, award-winning author, media personality and personal finance educator. We discuss two of her books, She Inc and The Women's Guide to Money, instilling confidence in men and women, consumer protection, where/how to we begin the journey of personal finance. 2:29:  How did you come about to write the book "She Inc." 6:18:  Have women progressed to the point where women are now more confident about our finances? 12:33  Where/How do we start in terms of instilling confidence/accountability within men and women regarding their finances? 17:31  How did you become involved with Financial Consumer Agency of Canada and their work around consumer protection and the issues are facing Canadians? 22:05  What is your role at the Financial Planning Standards Counsel as their Consumer Advocate? 26:19  Do you have three tips on how Canadians can begin paying attention to their finances? 30:22:  Anything else that you feel Canadians should know about when it comes to their finances?

35mins

23 May 2018

Rank #5

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Episode #1: Ellen and Lana are on your side: More about the MoneySaver Podcast

In this edition of the MoneySaver Podcast, we discuss what you can expect to learn from the podcast and we get to know a little more about hosts Ellen Roseman and Lana Sanichar and how they help to educate Canadians about personal finance, how to safeguard your interests and avoid bad advice.

29mins

22 Mar 2018

Rank #6

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Steps that a woman can take to secure herself in the even of divorce or even the death of a spouse.

In the ninth episode of the MoneySaver podcast, we chat with Doris Belland, entrepreneur, motivational speaker and author of Protect Your Purse: Shared Lessons for Women about steps that a woman can take to secure herself in the even of divorce or even the death of a spouse.  We also chat about her women's money group and how she overcame $400 000 of debt after the death of her first husband. Getting to Know Doris, 0:35   What drove you to write your book Protect Your Purse: Shared Lessons for Women? 13:10   Tell me a little bit more about the book. 18:06  What steps did you take to clear up the $400 000 debt? 25:06  You write a lot about mindset and money habits.  Can you elaborate on how mindset can affect our money habits? 27:09  Do you have another book in the works? 27:49  How can women get involved in your women’s money group?  29:51  What are the three best tips that you recommend that someone can take to ensure their security?

36mins

19 Oct 2018

Rank #7

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Sustainable Investing - Investing and Values

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 moneyinfo@canadianmoneysaver.ca 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.

45mins

10 Apr 2019

Rank #8

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Millennial Check-in: Debt, Saving and Investing in the Stock Markets

In episode six, Ellen chats with Bridget Casey, creator of the blog Money After Graduation They discuss the debt snowball, debt avalanche and the debt snowflake methods of clearing up debt as well as the overall financial health of millennials in Canada. 0:52  Tell us how you got started and what your finances were like when you graduated university.  1:38  So you found blogging about your personal finances was motivating you to clean them up? 3:42  Tell us a little about what you’ve learned about personal finance as a new mother. 5:51  How are you managing to balance work and life right now especially with the high cost of daycare? 6:29  Tell us about what www.moneysaftergraduation.com is. 7:45  Tell us a little about your course, The Six-Figure Stock Portfolio.  9:00  How does your course, The Six-Figure Stock Porfolio,  compare to the Canadian Securities Course? 10:33  What is your personal approach to investing? 11:01  What is the typical age of the people who take your course? 11:16  Are they investing inside an RRSP or TFSA? 11:45  What approach do you take regarding debt and investing? 13:45  What do you think about the general financial health of millennials in Canada? 14:58  Earlier, you talked about the debt snowball vs debt avalanche.  Now I see you talking about the debt snowflake.  Maybe you could tell us a little about the different approaches. 17:15  You’re on YouTube a lot.  Do you do all the work yourself or do you have help with it? 19:45  Do you spend a lot of time editing videos? 20:02  What are your three best personal finance tips that you try to live by as well? 20:53  What is some practical advice to negotiating a salary? 23:11  As a self-employed individual, do you still use those negotiating skills in your own personal situation? 24:00  I heard you’re writing a book.  How is that going?   Ellen's Tips and Tricks:   Tips to improving your success when negotiating with big companies on their services.

27mins

19 Jun 2018

Rank #9

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Millennial Expert talks about Home Ownership, Retirement and Investing Goals

Lana Sanichar talks with Jessica Moorhouse, host of the Mo'Money Podcast, blogger and millennial expert about the most pressing issues on millennial minds right now.  We touch on topics about home ownership, investing, retirement and side hustles. Questions Asked: 2:40 Tell us a little bit more about yourself. Tell us about your personal finance journey. 7:24 Who were your mentors?  What were you reading to help you make that leap from your old career to becoming a speaker, educator, blogger and an accredited financial councillor? 10:25 Describe who your listeners are.  11:15 What are the most pressing financial issues that millennials are facing today? 16:53  How is the stress test affecting millennials? 17:39  Are millennials active investors?  21:32  Are millennials thinking about retirement?  23:55 Are millennial women actively engaged in their personal finances? 29:14 Have you faced any barriers as a woman in the personal finance industry? 30:40 What are your best three tips that you tell people or that you have used personally to reach your money goals. 31:35 What do you use to track your spending?

39mins

25 Jan 2019

Rank #10

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Protecting Seniors from Financial Abuse

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?

39mins

30 Apr 2019

Rank #11

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Financial Advisors, Embedded Compensations, ETFs and His three best tips to manage their portfolios.

In the seventh edition of the MoneySaver Podcast, we chat with John De Goey, Portfolio Manager, Author of four books, Canadian MoneySaver contributor and frequent Business News Network. We talk about embedded compensations, regulatory reform, ETFs and portfolio management. Getting to Know John De Goey: Questions Covered 1.28 What questions should ask when I am looking for in a good financial advisor? 6:22 What do you think about setting future expectations on portfolio performance based on past performance? 10:38 Do you think that a call from your manager/advisor is necessary when the market is down? 14:00 How did you get into industry? 16:09 You’ve written four books. What is your new book about? 22:25 What do you think the prospect are for getting rid of embedded compensation? 24:39 What do you think is behind the surge in ETFs? 29:18 How do you get the bulk of the financial money managers to accept ETFs? 33:49 How optimistic are you that some of these needed reforms will happen in the next three years? 35:24 What are your three best tips for consumers to manage their portfolios responsibly?

40mins

23 Jul 2018

Rank #12

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More Money Won't Make You Happier

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.

39mins

8 Mar 2019

Rank #13

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Create Your Financial Plan

In the 11th edition of the MoneySaver Podcast, we speak with Rona Birenbaum, Certified Financial Planner, from Caring For Clients.  In honour of Financial Planning Week, we discuss financial planning, the process of creating a financial plan, debt, spending and her new tech start-up Viviplan, a new, low-cost financial planning service for Canadians.  :48  Tell us a little bit about what attracted you to financial planning. 3:51  You’re one of the few fee-only certified financial planners.  Is it much more difficult to make money with this type of service model? 5:41  For the benefit for our listeners can you explain how the process of creating a financial plan works and what fee an individual who seeks out your service can expect to pay? 9:50  How many hours do you think it takes to create a financial plan for someone who has even just a simple situation? 10:50 Tell us about Viviplan and the $800 fee expressed on your website. 14:03  Describe how you tailor this new service to the client? 17:45  Could you explain the two financial goals at most that is mentioned on your website? 18:38  As we all know, start-ups take money. How are you doing on the financing front? 20:30  Robo-Advisors have, for the most part, gotten rid of much of the personal interaction with customers. How essential is it for a customer to keep that personal relationship with a Certified Financial Planner in the process? 22:60  I understand that you’re looking at a subscription model.  24:47  What kind of a monthly fee are you expecting? 26:29 What are you top three tips for our listeners when it comes to managing their finances? Ellen’s Tips and Tricks – Skin Care Subscription Fraud

36mins

21 Nov 2018

Rank #14

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How to Rock Your RRSP: Saving and Investing for Your Retirement!

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.

35mins

19 Mar 2019

Rank #15