A Conservative, A Liberal, and a Financial Advisor: Recent Episodes
A Conservative, A Liberal, and a Financial Advisor
We have enlisted the help of our financial expert, Colin Reid of Reid Financial Strategies, to help us answer both simple and difficult financial questions that Canadians face on a daily basis. We cover topics like how to financially save for your children, how much you should spend on your house compared to your income, whether it makes more sense to pay into an RRSP versus a TFSA, and much more. Colin Reid provides the insight and knowledge while two of our panel members, the liberal leaning Dave Mowbray and the conservative leaning T-Jay Shwetz, often find themselves on opposing sides of an argument. Our host, Justin Johnson, tries his best to keep everything civil and on topic. The podcast is presented in an informative, fun, and welcoming way. There are no dumb questions and there are quite a few laughs. A lot of people tend to be nervous when it comes to asking questions about their money or how they should be saving and this podcast is a way to answer those questions with no judgments. The podcast is about helping people and their families understand that no matter what your income is, there is always something you can do.
On this episode, we dive into the different techniques you can use to help your kids develop an understanding of finances. It's important to remember that there are a lot of right ways to go about this and we simply make some suggestions based on experience and Colin's expertise.
Also on this episode, we discuss a heartwarming story of a lady's missing cat, a finder's reward, and a boy who had a dream of getting an x-box.
There's not much fighting in this episode between our conservative and liberal wings, but we think that's because when it comes to our kids, everyone tends to want the same thing, the best for them. We hope you enjoy it and that if you needed some help, it lends a small hand.
In this Episode, we discuss what you can do to help financially prepare your kids for their future. In part 1, we discuss what you as a parent can do and spoiler alert, a lot of it has to do with the RESP (Registered Education Savings Plan). It's a really interesting way to help save money for your kids' futures while also earning free grants from the government, and NO, it doesn't necessarily have to be used to pay for schooling.
We also bring to light some truths about devious and malicious companies like CST (Canadian Scholarship Trust). We have no problem on this podcast calling companies like CST predatory and Colin goes into detail as to why. DO NOT GET AN RESP THROUGH CST or any other company like it.
And did you know you can get life insurance for your children that will stay with them for the rest of their lives? So even if they contract a rare disease later on in life and are ineligible for life insurance, the plan you got them when they were just a child will still cover them and protect their family in the future.
We dive into it all on this episode!
We hope you learn something along the way. If you have any questions, hit up our FB or Instagram pages and the guru himeself will have some answers for you!
Cheers,
The CLFA Team
**Episode 2
Main Topic:** RRSP or TFSA
- Which one makes sense for you?
- The two most popular means of saving in Canada
- It's all about tax brackets
Crazy Financial Story: Charity auctioning off chance to blow up a Trump tower- Dave loves it, T-Jay hates it
**Episode 1
Main Topic:** Wills
- Important for everyone, whether you have dependents or not
- Arguably the most important aspect a financial planning for your family
- A significant percentage of the Canadian population do not have adequate wills in place
- People put strange things in their wills (cue the Mel Gibson jokes)
Crazy Financial Story: South Korean City Offering Money to have Childrean- Crossed the threshold into more deaths than births
- The city is offering a loan to married couples with added grants for each child born into the family