Money Mindset Mastery
By Jim Lao and Ryan Genoe TvH CacheFlo Solutions
"Money Mindset Mastery" – where wealth is a harmonious blend of mind and money. Join us on this journey to financial empowerment, and equip yourself with the tools to lead a richer life. Your path to a prosperous future starts here.
Money Mindset MasteryMay 02, 2024
Maximizing Profits in Hardscape and Renovation
In this episode of the Money, Mindset and Mastery podcast, host Jim Lao interviews Dean Mizzi, a hardscape and renovation expert, about his new business and the program he has launched to help contractors accurately estimate costs and maximize profits. Dean explains that hardscape is a division of landscaping that focuses on hard surfaces like walkways, driveways, and retaining walls. He emphasizes the importance of understanding the business side of contracting, particularly pricing jobs and managing numbers. Dean's program, called the Pro-Fit Estimator, provides contractors with a comprehensive dashboard that helps them estimate costs, create contracts, track expenses, and ensure profitability. The program is suitable for both new and seasoned contractors. Dean Mizzi discusses the importance of knowing your numbers as a contractor and how his profit estimator program can help contractors and homeowners alike. He emphasizes that contractors should not rely on other contractors to determine their pricing, as each business has different overhead costs. Knowing your numbers can lead to more success in running your own business and achieving profitability. The program is not limited to contractors and can also benefit investors and flippers. Dean plans to approach colleges to offer his program as an accreditation or certification program. The program is available worldwide through the Udemy platform. Sign up for the program: The Pro-Fit Estimator Program Suite (Program Download) | Udemy
A Four-Step Master Plan to Overcoming Financial Stress
Summary
In this episode of the Money, Mindset, and Mastery podcast, Jim and Ryan discuss a four-step master plan to overcome financial stress. They emphasize the importance of understanding your financial situation, educating yourself on financial matters, finding a trusted financial professional, and practicing self-care. They provide practical tips for managing stress, such as exercise, breathing techniques, and spending time with loved ones. The hosts also highlight the resources and tools available through TBH Group to help individuals improve their financial well-being.
Sound Bites
"Everyone seems to be stressed out right now with their finances."
"You need to have the financial tools. Our process is the reverse. First, we wanna make sure we teach you how to play the game."
"Try to speak with a financial professional. At least get a second opinion."
Chapters
00:00 Introduction and Overview
03:08 Understanding Your Financial Situation
10:42 Financial Education
29:03 Self-Care for Financial Wellness
Don't Sit on the Sidelines: The Impact of Hoarding Cash on Canadian Retirements
Summary
In this conversation, the hosts discuss the impact of hoarding cash and the reasons why people tend to do so. They highlight the fear of loss, lack of financial literacy, and the illusion of safety as common factors. They emphasize the importance of understanding the psychology behind hoarding cash and the need for education and professional advice to make informed financial decisions. The hosts also discuss the difference between saving and investing, and the impact of keeping money in savings accounts or GICs compared to long-term inflation rates. They caution against falling for temporary offers and highlight the need for proper education and research when it comes to financial decisions. The conversation focused on debunking common misconceptions and providing education around financial topics. One key theme was the importance of understanding retail banking and the potential risks associated with joint ownership of assets. The speakers emphasized the need for personalized financial advice and the dangers of following generic advice from banks. They also discussed the benefits of dollar cost averaging and the role of cash in a portfolio. The conversation highlighted the importance of having a well-diversified and well-managed investment portfolio to minimize risk. Lastly, the speakers emphasized the value of working with a trusted advisor and regularly reviewing and adjusting financial goals.
Takeaways
Hoarding cash can have a negative impact on long-term financial planning and retirement goals.
Fear of loss, lack of financial literacy, and the illusion of safety are common reasons why people tend to hoard cash.
It is important to understand the psychology behind hoarding cash and seek education and professional advice to make informed financial decisions.
Saving is for short-term needs, while investing is for long-term needs. It is important to strike a balance between the two and set clear financial goals.
Temporary offers and high-interest rates may not always be beneficial in the long run, and it is important to consider the fine print and potential hidden fees. Beware of generic advice from banks and retail banking. Seek personalized financial advice that considers your specific needs and goals.
Joint ownership of assets can have potential risks and may not always be the best solution. Consider the implications and consult with a financial advisor before making any decisions.
Dollar cost averaging is a strategy that allows for gradual investment over time, reducing the impact of market fluctuations.
Cash has a place in a portfolio and can provide stability and liquidity. It is important to consider the role of cash in your overall investment strategy.
Chapters
00:00 Introduction and Irritation with Hoarding Cash
02:25 Psychology Behind Hoarding Cash
04:19 Impact of Hoarding Cash during Market Volatility
07:13 Impact of COVID on Hoarding Cash
10:22 Difference Between Saving and Investing
11:30 Impact of Cash and GICs on Inflation
24:18 Importance of Education and Seeking Professional Advice
28:08 Challenges with Banking Employees' Knowledge and Advice
28:37 Misinformation from Banks
29:35 The Risks of Joint Ownership
30:14 The Importance of Proper Estate Planning
32:03 Dollar Cost Averaging and the Benefits of Cash
33:28 Overcoming Fear and Misconceptions about Investing
36:31 The Role of Cash in a Portfolio
37:03 The Risks of GICs and Estate Settlement
38:00 The Importance of Liquidity and Access to Capital
40:21 The Complexity and Education of Investing
42:13 Understanding Risk and Loss in a Well-Diversified Portfolio
45:35 The Value of Slow and Steady Investing
47:09 The Importance of Coaching and Behavior in Investing
49:01 The Role of Cash in a Portfolio (Final Thoughts)
49:12 Setting Goals and Educating Yourself
50:02 Monitoring and Adjusting Your Financial Plan
50:32 Contact Information and Conclusion
50:43 Money Minsdet Mastery Intro.mp4
Unveiling the Launch of TvH Wealth and the Future of Finance with Denis Bisson
In this episode, Jim and Ryan introduce Denis Bisson, the head of TVH Wealth, and discuss the announcement of the referral arrangement with TVH Group. Denis shares his background in the financial services industry and his journey to becoming an independent portfolio manager. They highlight the benefits of TVH Wealth, including access to a team of specialists and a focus on risk management. Denis explains the importance of an investment policy statement and the comprehensive approach to financial planning at TVH Wealth. The conversation covers topics such as assessing investment portfolios, market conditions and outlook, future plans for TVH Wealth, managing cash and other assets, and final thoughts and contact information.
Takeaways
- TVH Group has entered into a referral arrangement with TVH Wealth, led by Denis Bisson, an independent portfolio manager.
- Denis brings expertise in financial planning, portfolio management, and trust and estate planning to TVH Wealth.
- TVH Wealth offers access to a team of specialists in legal, accounting, and mortgage services, providing a comprehensive approach to financial planning.
- The investment philosophy of TVH Wealth focuses on risk management and a slow and steady approach to wealth accumulation. When assessing investment portfolios, it is important to consider the client's overall financial situation, including any outside investments they may have.
- Regular reviews and risk assessments are crucial to ensure that clients are properly invested and not exposed to unnecessary risks.
- Market conditions can be unpredictable, and it is important to stay informed and make investment decisions based on a well-rounded strategy rather than chasing short-term gains.
- TVH Wealth aims to provide comprehensive portfolio management services and maintain open communication with clients to keep them informed and satisfied.
- Transferring stock portfolios and mutual funds in kind can be a viable option to avoid unnecessary fees and taxes.
- Holding cash in a high-yield cash ETF or cash account can be a suitable option for short-term goals and expenses.
- TVH Wealth is focused on attracting new clients, keeping current clients happy, and making positive changes to its portfolio management services.
Chapters
00:00Introduction and Announcement
01:09Denis Bisson's Background in Financial Services
07:02Denis Bisson's Designations and Expertise
10:53TVH Group Services and Team Collaboration
20:52TVH Wealth's Approach to Wealth Management
25:21Alignment with TVH Group's Tortoise vs. Hare Philosophy
28:12Importance of Investment Policy Statement
33:20Comprehensive Financial Planning with TVH Wealth
33:30Assessing Investment Portfolios
37:03Market Conditions and Outlook
42:21Future Plans for TVH Wealth
55:28Managing Cash and Other Assets
58:05Final Thoughts and Contact Information
Meet Your Mortgage Ally: Josh Brooks Unveiled
In this episode, Jim, Ryan, and special guest Josh Brooks discuss Josh's journey in the mortgage industry and his transition to a client-facing role. They explore Josh's motivation and passion for mortgages, emphasizing the importance of building relationships with clients. They also highlight the valuable lessons Josh has learned from working with John and the TVH team, including the balance between communication and timing. The conversation delves into the collaborative nature of the TVH group and the efficiency of working with multiple professionals under one roof. Finally, they discuss the process of guiding clients through the mortgage journey and the importance of considering long-term financial planning. In this conversation, Josh Brooks discusses the role of TVH Group in helping clients navigate the mortgage process. He emphasizes the importance of staying on top of interest rate announcements and ensuring clients are prepared for mortgage renewals. Josh also highlights common pitfalls in the mortgage search and recommends starting the process at least six months in advance. Outside of work, Josh enjoys staying active by going to the gym, playing rugby, and hiking. He values referral partners who share TVH Group's commitment to long-term relationships and client success. Josh prefers face-to-face meetings but is also open to virtual interactions. To connect with Josh, clients can reach out via phone or email.
Takeaways
Building strong relationships with clients is crucial in the mortgage industry.
Learning from experienced professionals and duplicating their success can lead to personal growth and success.
Balancing communication and timing is essential in providing excellent service to clients.
Collaboration within a team of professionals can enhance efficiency and provide comprehensive solutions for clients.
Guiding clients through the mortgage process involves understanding their goals and providing ongoing support and guidance. Stay on top of interest rate announcements and let TVH Group handle the details.
Start the mortgage renewal process at least six months in advance to avoid last-minute scrambling.
Avoid common pitfalls in the mortgage search by seeking advice from professionals like TVH Group.
Josh Brooks values referral partners who prioritize long-term relationships and client success.
Chapters
00:00 Introduction and Background
01:07 Josh's Journey in the Mortgage Industry
04:13 Motivation and Passion for Mortgages
05:21 Building Relationships with Clients
07:04 Learning from John and Duplicating Success
08:01 Balancing Communication and Timing
09:23 Helping Clients Take the First Step
11:37 Importance of Client Relationships
13:22 Long-Term Planning and Repeat Clients
15:15 Collaboration within the TVH Group
20:12 Guiding Clients through the Mortgage Process
22:04 Establishing Goals and Building a Foundation
23:29 Considering Long-Term Financial Planning
25:16 Providing Guidance Beyond the Mortgage
26:32 Addressing Client Concerns and Questions
27:59 Staying Informed and Communicating within the Team
28:32 Helping Clients Navigate the Mortgage Process
29:13 Navigating Mortgage Renewals
30:21 Common Pitfalls in Mortgage Search
32:22 Providing Options and Avoiding Confusion
35:12 Personal Interests and Hobbies
41:27 Preferred Referral Partners
43:11 Face-to-Face or Virtual Meetings
48:18 Contacting Josh for Mortgage Advice
50:14 Closing Remarks
Agent: Josh Brooks
Licence #M20000810
Brokerage Name: Verico TvH Mortgages Inc.
Overcoming Behavioral Biases: Unlocking Retirement Success
In this conversation, Jim and Ryan discuss the importance of behavioral biases in financial decision-making. They highlight the impact of behavior on financial success and the common biases that can derail financial plans. They delve into specific biases such as hurting, endowment effect, present bias, selective attention, illusory superiority, and social desirability bias. They also introduce the concept of money mindsets, including the brick wall, bunker, justifier, dreamer, undercover agent, masquerader, and optimist. They emphasize the value of understanding one's money mindset and how it can influence financial decisions. They encourage listeners to take the money mindset quiz to gain further insight into their own mindset. In this conversation, Jim Lao and Ryan Genoe discuss important behavioral aspects of personal finance. They emphasize the need to lower the mental value of possessions to avoid missed opportunities and emotional decision-making. They also caution against blindly copying others and making decisions based on unrealistic promises. The hosts highlight the importance of breaking repetitive patterns and making positive changes over time. They advise against using savings or debt to cover expenses and stress the need for a mindset shift to make money work for individuals. The conversation concludes with an overview of their financial capability program and contact information.
Takeaways
Behavioral biases can have a significant impact on financial success and should be considered in financial planning.
Common biases such as hurting, endowment effect, and present bias can derail financial plans.
Understanding one's money mindset is crucial in making informed financial decisions.
The money mindset quiz can provide valuable insights into individual money mindsets and help guide financial planning. Lower your mental value of possessions to avoid missed opportunities and emotional decision-making.
Question and research decisions before blindly copying others or making unrealistic promises.
Break repetitive patterns and make positive changes over time.
Avoid using savings or debt to cover expenses and shift towards making money work for you.
Take Our Money Mindset Quiz: https://cacheflo.typeform.com/19d4dcfc
Chapters
00:00 Introduction and Importance of Behavioral Biases
03:01 Financial Behavior and Biases
11:53 Hurting, Endowment Effect, and Present Bias
16:24 Selective Attention and Illusory Superiority
25:40 Money Mindsets: Brick Wall, Bunker, Justifier
32:44 Money Mindsets: Dreamer, Undercover Agent, Masquerader, Optimist
39:53 Money Mindset Quiz and Conclusion
42:26 Lowering the Mental Value of Possessions
44:22 Question Before You Copy
45:35 Don't Get Stuck on Repeat
48:35 Using Savings or Debt to Cover Expenses
52:03 Financial Capability Program
56:11 Conclusion and Contact Information
Exploring Reverse Mortgages Unveiling Financial Flexibility with Jon Sowerby
Summary
This conversation explores the topic of reverse mortgages, a financial instrument that is often misunderstood and underutilized. The hosts, Jim and Ryan, are joined by John, a mortgage broker, to discuss the benefits, eligibility criteria, and misconceptions surrounding reverse mortgages. They emphasize that reverse mortgages should be considered as a viable option, not just a last resort, for retirees who want to age in place and maintain financial flexibility. The conversation also touches on tax benefits, accessing capital, and the steps involved in setting up a reverse mortgage. Overall, the conversation aims to provide clarity and guidance for individuals considering reverse mortgages.
Takeaways
Reverse mortgages can be a beneficial financial tool for retirees who want to age in place and maintain financial flexibility.
Reverse mortgages should be considered as a viable option, not just a last resort, for individuals who want to relieve financial stress and access the equity in their homes.
There are eligibility criteria for reverse mortgages, including age and property ownership, but income is not a significant factor in the approval process.
Reverse mortgages offer tax benefits, such as tax-free access to equity, but it's important to consider the tax implications of investing the funds.
Working with a mortgage broker and financial planner can help individuals navigate the process of setting up a reverse mortgage and develop a comprehensive retirement plan.
Chapters
00:00 Introduction and Purpose of the Conversation
02:06 Introducing John and the Topic of Reverse Mortgages
03:01 Understanding Reverse Mortgages and Their Differences
05:19 Benefits of Reverse Mortgages
06:17 Increasing Demand for Reverse Mortgages
07:15 Challenges of Traditional Mortgages for Retirees
08:40 Tax Benefits and Strategies with Reverse Mortgages
09:32 Eligibility Criteria for Reverse Mortgages
10:58 How Lenders Make Money with Reverse Mortgages
13:22 Preference for Aging in Place and Staying in Current Homes
14:47 Considerations for Children of Parents Considering Reverse Mortgages
18:09 Reverse Mortgages as a Viable Option, Not a Last Resort
22:32 Accessing Capital and Different Options for Reverse Mortgages
25:51 Reverse Mortgages as Part of a Comprehensive Retirement Plan
29:41 Case Study and Financial Stress Relief with Reverse Mortgages
32:29 Steps and Process for Setting Up a Reverse Mortgage
34:54 Addressing Concerns and Misconceptions about Reverse Mortgages
37:11 Consideration and Tips for Those Considering Reverse Mortgages
38:08 Contact Information for Further Questions
Mastering Your Money: The Power of Behavioral Cash Flow Planning
Summary
In this conversation, Jim and Ryan discuss the importance of mastering your money and the power of behavioral cash flow planning. They highlight the limitations and challenges of traditional budgeting and the benefits of a cash flow plan. The conversation covers various signs that indicate the need for a behavioral cash flow plan, including lack of a fully funded retirement plan, retirement goals based on income replacement rather than projected expenses, inadequate life insurance coverage, and unstable car leasing or loan terms. They also discuss the importance of maximizing TFSA contributions, addressing short-term revolving debt, and the absence of a cash flow plan. In this conversation, Jim Lao and Ryan Genoe discuss the importance of financial education and adapting to current financial circumstances. Jim emphasizes the value of learning about money, investing, and cashflow planning, as it can significantly impact one's financial situation. He highlights the difference between the experiences of previous generations and the realities of today's financial landscape. Ryan encourages listeners to start the new year with a fresh start and consider exploring different approaches to financial planning. The conversation concludes with closing remarks and an invitation to continue the discussion in future episodes.
Takeaways
Behavioral cash flow planning is a powerful tool for mastering your money and achieving financial goals.
Traditional budgeting has limitations and may not address the behavioral aspects of spending and saving.
Signs that indicate the need for a behavioral cash flow plan include inadequate retirement savings, reliance on investable assets for retirement, and unstable car leasing or loan terms.
Maximizing TFSA contributions and addressing short-term revolving debt are important steps in improving cash flow.
A cash flow plan provides a clear understanding of income, expenses, and financial goals, allowing for better financial decision-making.
Chapters
00:00 Introduction and New Beginnings
01:18 Mastering Your Money and Behavioral Cash Flow Planning
10:08 Retirement Planning and Income Replacement
12:05 Retirement Goals Based on Expenses
13:51 Mobility Challenges and Medical Expenses in Retirement
14:48 Inadequate Life Insurance Coverage
17:54 Unstable Car Leasing or Loan Terms
19:00 Carrying Short-Term Revolving Debt
20:45 Maximizing TFSA Contributions
22:51 Dependence on Investable Assets for Retirement
23:27 Inability to Spend Frivolously
24:46 Withdrawing from or Halting Contributions to Long-Term Investments
27:00 Absence of a Cash Flow Plan
34:08 Challenges and Misconceptions of Behavioral Cash Flow Planning
43:24 The Importance of Financial Education
44:06 Adapting to Current Financial Circumstances
44:32 Closing Remarks
Complete Our Cash Flow Assessment
Visit our website wwwwe.tvhcashflow.ca
Mastering Holiday Spending: Smart Strategies from Suzanne Yar Khan's Blog
In this episode, Jim and Ryan share five smart spending tips to help manage holiday spending effectively. They discuss the cost of the holidays and the importance of setting a budget. They also provide insights on leveraging sales, being mindful when shopping, and rethinking credit card use. Additionally, they emphasize the value of utilizing gift cards, participating in holiday gift exchanges, and making group donations. They encourage listeners to incorporate smart spending habits into their everyday lives and highlight the benefits of behavioral cashflow planning for the new year.
Takeaways
Set a budget and make a list of gifts and expenses to stay on track with holiday spending.
Take advantage of sales and be mindful of price matching to save money.
Use separate accounts or cash envelopes to allocate funds for holiday spending.
Consider adopting a family or participating in group donations to make a positive impact during the holiday season.
Incorporate smart spending habits into everyday life to maintain financial wellness.
Chapters
00:00 Introduction and Overview
01:28 The Cost of the Holidays
05:04 Tips for Managing Holiday Spending
08:04 Understanding Cash Flow and Budgeting
11:32 Rethinking Credit Card Use
15:44 Utilizing Gift Cards
19:23 Holiday Gift Exchanges and Group Donations
27:29 Incorporating Smart Spending Habits
29:59 Preparing for 2024 with Behavioral Cashflow Planning
35:26 Final Thoughts and Encouragement
Decoding 2023: Interest Rates, Real Estate, and Inflation
Summary
In this conversation, mortgage broker John Sowerby discusses the current economic landscape, the Bank of Canada's interest rate decisions, the similarities to the 2008 financial crisis, the implications for the real estate market, Ottawa's fiscal update and mortgage stress test, tightening lending and qualification, consolidating debt and refinancing, and the outlook for 2024. The conversation highlights the importance of building relationships in the mortgage industry and the value of personalized service. It also emphasizes the need to contact John for mortgage-related questions and provides multiple ways to reach out. The topic of renewing mortgages and the ideal timing for reaching out is discussed. The episode concludes with a farewell and the suggestion of future live events.
Takeaways
The Bank of Canada has been increasing interest rates, but there may be a shift towards rate cuts in the near future.
The real estate market is experiencing an under supply of housing, which is driving up prices.
Consolidating debt and refinancing can help improve cash flow and provide financial flexibility.
The outlook for 2024 suggests a better year for the economy and the real estate market.
Chapters
00:00 Introduction and Background
03:13 Understanding the Current Economic Landscape
08:01 Bank of Canada's Interest Rate Decisions
13:33 Similarities to the 2008 Financial Crisis
19:29 Variable Rate Mortgages vs. Fixed Rate Mortgages
23:45 Implications for the Real Estate Market
30:47 Ottawa's Fiscal Update and Mortgage Stress Test
35:51 Tightening Lending and Qualification
40:50 Consolidating Debt and Refinancing
46:18 Outlook for 2024
48:13 The Importance of Building Relationships
49:31 Contacting John for Mortgage Questions
50:24 Renewing Mortgages and Timing
51:27 Conclusion and Farewell
The Truth About Budgeting: How Behavioral Cash Flow Planning Can Help You Achieve Financial Freedom
Does this sound familiar? ●I have debt, but also want to save for my future. ●I’m not sure where my money goes at the end of the month. ●I’m nearing retirement, and I’m not sure if there is anything more I can do to prepare. ●I make great income, but I feel like I should get more out of it. In this episode we will discuss: ●The flaws of budgeting ●Smarter spending strategies ●Debt reduction & tips ●Finding money for your goals
How to Avoid 3 Debt Traps
While many experts are now calling for a soft landing in Canada instead of a recession, we aren’t out of the woods yet. The Consumer Price Index (CPI), which measures inflation and the change in prices for consumer goods, is rising. In fact, it increased 8.5% in July, following a 9.1% increase in June, according to Statistics Canada.
That means that without wages rising at the same rate (which they aren’t), it’s getting more costly for Canadians to afford everyday items, like groceries, clothing and gasoline. This could cause many people to use their credit cards, or take out a loan just to make ends meet.
Remember that debt isn’t bad. Using credit responsibly can actually help you increase your credit score. Read our blog on what to know about credit utilization to learn more.
But if you overextend yourself, it can cause you to miss payments or make it difficult for you to pay even the minimum payment because you simply don’t have the funds. And that hurts your credit score (more on that below). So watch to learn about three debt traps to avoid, as well as some tips so you don’t find yourself in a dire situation.
Original Blog Post https://www.cacheflo.co/posts/how-to-avoid-3-debt-traps
Find out more about TvH CacheFlo Solutions www.tvhcashflow.ca
Book an appointment to find out more about Behavioural Cash Flow Planning https://calendly.com/tvhfinancial-jim/behavioural-cash-flow-planning-discovery-meeting
Introducing TvH CacheFlo Solutions: Mastering Your Money Mindset with Behavioral Cash Flow Planning
Welcome to another insightful episode of the Tortoise and Hare Financial Podcast! 🎙️ In this episode, our hosts Jim and Ryan are thrilled to introduce you to an incredible innovation in the world of finance: Behavioral Cash Flow Planning by TVH CacheFlo Solutions. Join us as we dive deep into the story behind CacheFlo Inc. and how it's changing the game when it comes to managing your finances effectively. We're joined by the visionary CEO and Co-Founder of CacheFlo Inc, Stephanie Holmes-Winton, who shares her incredible journey and the motivation behind creating this groundbreaking solution. Discover how Behavioral Cash Flow Planning offers you a whole new way to manage your money, making financial education easy, interactive, and most importantly, effective. As an individual seeking better control over your finances, TvH CacheFlo Solutions has something extraordinary to offer. But that's not all! We have an exciting announcement you won't want to miss, so make sure to stay tuned until the end of the episode! Ready to take control of your financial future? Visit www.tvhcashflow.ca to find out more about Behavioral Cash Flow Planning with TvH CacheFlo Solutions. It's time to empower yourself with the knowledge and tools you need to make informed financial decisions. Don't miss out—visit the website now! 💰💡 If you enjoyed this episode, be sure to like, share, and subscribe to our channel for more invaluable financial insights. Your financial journey starts here! #CacheFlo #FinancialPlanning #MoneyManagement #TVHCashFlow #FinancialEducation #Podcast #Finance #BehavioralCashFlowPlanning
"Turbocharge Your Wealth: The Portfolio Review Power Play!"
In this episode, Jim and Ryan dive deep into a topic that could transform your financial future – the importance of completing a portfolio review. They'll show you how the tortoise's slow and steady approach to financial wellness can lead to success, while the hare's impulsive decisions can spell disaster. 📊 Why Portfolio Reviews Matter 📊 Discover why regular portfolio reviews are the secret sauce behind successful investing. Jim and Ryan discuss the benefits, share real-life stories, and present compelling statistics that prove the value of staying informed about your investments. 💼 Special Offer Alert! 💼 Tortoise and Hare Financial are excited to offer you a **complimentary portfolio review** for accounts with a minimum balance of $100,000.00. Find out how this offer can help you optimize your investments and secure your financial future. https://tvhgroup74996.ac-page.com/tvh-financial-portfolio-review?test=true 🛠️ DIY Portfolio Review Tips 🛠️ For those who want to take matters into their own hands, Jim and Ryan provide quick tips for a DIY portfolio review. Remember, while you can do it yourself, professional guidance is crucial for complex portfolios. 📌 Stay Connected and Informed 📌 Subscribe, rate, and review the Tortoise and Hare Financial Podcast to stay connected with valuable financial insights. Tune in for the next episode, where we'll explore another exciting financial topic. 📞 Contact Us 📞 Have questions or want to take advantage of our special offer? Reach out to Jim and Ryan at 647-727-4668 or financial@tvhgroup.ca *Disclaimer: The advice provided in this podcast is general in nature. For specific financial situations, always seek professional guidance.* Don't let your financial future be a race you lose. Tune in now and secure your path to financial success with Tortoise and Hare Financial! 🐢🏆🐇
Achieving Financial Independence: Steps to Break Free from Financial Stress
Welcome to The Tortoise and Hare Financial Podcast. In today's episode, your hosts, Jim Lao and Ryan Genoe are diving deep into the concept of financial independence – what it means, why it's crucial, and how you can attain it. Whether you're a financial newbie or a seasoned investor, this episode will provide valuable insights into securing your financial future.
Legacy Unlocked: Navigating Estate Planning for Harmony & Prosperity
Welcome to the Tortoise and Hare Financial Podcast, where we unravel the secrets to financial wellness at a steady pace. Your hosts Jim Lao, and Ryan Genoe we have an eye-opening episode lined up as they dive into the world of estate planning with the help of the brilliant lawyer, Sonia Kociper.
They'll be exploring an insightful article titled "Your Estate Plan: Promoting Harmony and Preserving Family Relationships." This article brings to light some crucial aspects often overlooked in estate planning, such as digital assets and tax considerations.
As technology takes center stage in our lives, many Canadians fail to include their online accounts and digital tools in their estate plans. We'll learn how to proactively address these complexities with the guidance of legal professionals experienced in digital estate planning.
In addition to digital assets, we'll delve into the world of estate taxes and how they can impact your loved ones. Working with an accountant to optimize tax efficiency can ensure more money is left for your beneficiaries and charitable organizations.
DIY estate planning can be tempting, but we'll discuss the importance of knowing when to seek professional help. Setting up trusts for disabled beneficiaries and strategic tax planning require expertise that's best left to specialists.
A team approach to estate planning is crucial, allowing you to tap into a pool of knowledge, ensuring no critical details are overlooked. From tailored solutions to emotional support, we'll uncover the benefits of working with a team of professionals.
And let's not forget about the importance of regularly updating your estate plan. Life is dynamic, and circumstances change, making updates vital to align with your current wishes and avoid unintended consequences.
Estate planning is for everyone, regardless of age or financial status. It's about preserving your legacy, protecting your loved ones, and leaving a positive impact on their lives.
Join us as we navigate through this captivating discussion with Sonia Kociper and unravel the secrets to a comprehensive and effective estate plan.
Money Matters Unveiled: The Tortoise and Hare Financial Podcast Takes on Canadian Financial Stress!
Welcome to the Tortoise and Hare Financial Podcast, where slow and steady wins the race to financial freedom! Your hosts Jim Lao and Ryan Genoe, together, are here to bring you the latest insights and strategies to conquer those money worries.
We've got some eye-opening surveys to share with you, revealing the financial challenges Canadians are facing.
According to FP Canada's Financial Stress Index, money remains the top source of stress, beating out health, relationships, and work.
But don't worry, folks! Financial Wellness planning can provide some much-needed relief.
That's right, Inflation might be burdening us, but with the right strategies, you can ease that financial strain.
We'll dive into the survey findings, exploring rising costs, saving challenges, and even the impact on mental health.
And here's an interesting twist: working with professional financial planners can make a significant difference!
The survey shows that those who worked with financial planners felt more hopeful about their financial futures.
So, join us as we unravel the secrets to financial peace of mind.
We'll also discuss the Fidelity Retirement Report, which highlights the importance of having a written financial plan.
Canadians who had a plan felt more prepared, both financially and emotionally, for retirement.
But guess what? Less than one-third of respondents had a written plan. Let's change that!
Get ready for expert advice, actionable tips, and inspiring stories of financial success.
Because here at the Tortoise and Hare Financial Podcast, we believe that everyone can win the race towards financial freedom!
So, grab your headphones, subscribe to our podcast, and get ready to take control of your financial future.
Remember, slow and steady wins the race!
Stay tuned for the Tortoise and Hare Financial Podcast, where your journey to financial freedom begins.
Why Some People Struggle With Retirement
Welcome to the Tortoise and Hare Financial Podcast! Your hosts Jim Lao and Ryan Genoe tackle a topic that's on the minds of many: Why do people fear retirement? Retirement should be a time of relaxation and enjoyment, but for some, it can be anxiety-inducing. We're here to uncover the reasons behind this fear and provide insights on how to overcome it. From the fear of the unknown to concerns about financial stability and social isolation, we'll explore all aspects of retirement anxiety. So, join us as we delve into this fascinating topic and help you navigate the path towards a fulfilling and worry-free retirement. Read the article https://www.advisorstream.com/read/forbes/money/why-some-individuals-struggle-with-retirement/?c=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJub2RlX2lkIjozMDgyMSwicHJldmlldyI6ZmFsc2UsImNvbW1faWQiOjc2MzIyMzksImRlc3RfaWQiOjEwMTE4NDgzLCJyZWFkZXJfaWQiOm51bGwsInBlcnNvbmFfcHJldmlldyI6ZmFsc2V9.IdZwt3sLH1haLaOTcKhDqR189Ll_-VqinTiUXMIYl4M&fbclid=IwAR2HH1UN22SnLWY3GLwFOgu-Bn9zuH_7W96e8VLxjDSJ4h0jch7k3deDrgE
Money decisions that will leave you full of regret – and maybe even divorced
Welcome to the Tortoise and Hare Financial Podcast, where we help you navigate the ups and downs of personal finance. Your host, Jim Lao, and co-host, Ryan Genoe discuss an article that delves into the most common money mistake that people make - living with the fear of money. Fear can cause us to make decisions that leave us with a costly financial hangover and even lead to divorce. But the good news is, financial fear can be overcome. By facing our fears and learning how to make better financial decisions, we can set ourselves on the path to a better financial future. So, let's dive into this topic and explore some of the money decisions that are rooted in fear.
The Power of Perspective: How Seeing Things Differently Can Improve Your Finances
Welcome to the Tortoise and Hare Financial Podcast, where we bring you the latest insights and strategies for building a successful financial future. Your host Jim Lao, is joined by fellow advisor and co-host, Ryan Genoe.
Today's episode is all about the power of perspective. We'll be sharing a story about a blind man who was suddenly given the gift of sight, and how he was able to use his new perspective to navigate the world in a completely different way. We'll explore how this concept can be applied to your own financial journey, and how adjusting your perspective can help you identify opportunities and navigate challenges with greater success.
As financial advisors, we've seen time and time again how a change in perspective can make all the difference when it comes to achieving your financial goals. So sit back, relax, and get ready to see things in a whole new light on this episode of the Tortoise and Hare Financial Podcast.
Protecting Yourself from Real Estate Scams in Ontario: Insights from a Real Estate Lawyer
The topic of today's discussion is an important one - how to protect yourself from mortgage and real estate fraud. With the rising popularity of online transactions and the increasing complexity of real estate transactions, it's more important than ever to be aware of the potential risks and take steps to protect yourself.
Sonia Kociper is an expert in the field of real estate law and has worked with numerous clients to help them navigate the complexities of real estate transactions. In this episode, she will be sharing her insights and tips on how to protect yourself from mortgage and real estate fraud.
So sit back, grab a cup of coffee, and join us for this informative and insightful discussion on the Tortoise and Hare Financial Podcast.
Life at 50: Jim Lao's Reflections on Aging and Recovery
Welcome to the Tortoise and Hare Financial Podcast, where we help you navigate your financial journey at your own pace. Today, we have a very special guest joining us, Jim Lao, the President of TvH Financial. Jim will be sharing his thoughts on turning 50 and how it has affected his perspective on aging and recovery after his open-heart surgery four years ago. As we discuss these topics, we hope that our listeners can gain some valuable insights into their own lives and financial planning. So, let's dive into this episode and hear what Jim has to say about life at 50.
Mobility and Independence: Improving Lives with Michel Tordjman from Mobility for Life
Welcome to the Tortoise and Hare Financial Podcast, where host Jim Lao dives into the world of personal finance and the impact it has on our daily lives. Today, Jim is joined by Michele Tordjman, the owner of Mobility for Life. Mobility for Life was established in 2012 to serve the needs of our community by providing a wide range of products, services, and installations of Home Health Care, Accessibility, Mobility Aids, Rehabilitation, and Respiratory Medical Equipment. Michele and his team go above and beyond to ensure that their clients receive a tailored and superior service in the comfort of their own home. Tune in as Jim and Michele discuss the importance of mobility and independence in our daily lives and the various funding options available for those in need. Stay with us as we learn more about Mobility for Life and the impact it has on the lives of those they serve.
Find out more: Mobility for Life – solutions for a barrier free life (mobilitysolutionsnow.com)
Find out more about MyDignity: TVH Financial is concerned… – MyDignity Partners
Book an Appointment with Jim or Ryan: TvH Financial Inc. (office365.com)
20 Reasons to Delay Your Retirement
Original Story Written by: Beatriz Rose
20 Reasons to delay your retirement, according to experts
Meeting Ryan Genoe: Associate Financial Advisor
In today's episode of The Tortoise and Hare financial podcast, we're excited to introduce our newest team member, Ryan Genoe. Ryan brings a wealth of experience and knowledge to our team, and we're thrilled to have him on board. In this episode, Ryan will be sharing his background, as well as the strategies he uses to help clients achieve their financial goals. Whether you're just starting out or you're a seasoned investor, this episode has something for everyone. We'll also be talking about the benefits of working with a financial advisor and how to choose the right one for you. So grab a notebook and a pen, and join us as we delve into the world of personal finance with Ryan Genoe. This is The Tortoise and Hare financial podcast.
TvH Financial Q1 Market Update - 2022
U.S., Canadian and global equities ended Q1 positively, posting gains in March, but for the overall quarter, markets were mixed. Geopolitical tensions, rising oil prices, high inflation, supply chain disruptions and central bank policy weighed on the S&P 500 Index, Nasdaq, Dow Jones, MSCI EAFE Index and global indexes. The energy-rich TSX Composite Index, on the other hand, benefited from the market turbulence.
The History of TvH with Special Guest Jon Sowerby
Over the years clients have asked how TvH came to be. In this episode, Jim will be walking down memory lane with co-founding partner, Jon Sowerby.
Spring Cleaning - Declutter Your Financial Life
The start of spring marks not only a good time for cleaning your house and garden, but is also an opportune time to clean up your finances and get things in better order. Done right, it should make your life easier throughout the rest of the year. Your financial life will be less cluttered, and you will be able to work more efficiently.
Spring Cleaning - Declutter Your Financial Life (leapcommunity.com)
Why a Doctor Invented Critical Illness Insurance
This podcast addresses why a prominent doctor was instrumental in creating the first Critical Illness Insurance policy.
TvH Financial Market Update February 2021
Listen to a brief market update for February 2021.
2020 Market Recap - By Jim Lao TvH Financial Inc.
2020 was a year none of us will soon forget. It started strongly, with equity markets at all-time highs and unemployment near record lows. But by mid-March, a new coronavirus had reached North America after emerging overseas in late 2019. Governments around the world abruptly shuttered their economies and issued shelter-in-place orders in an effort to slow the spread of the disease – resulting in sharp and drastic declines across major stock indexes globally.
If anything should happen to me…. - Jim Lao
If you are like most people you have a "to do" list running through your head and from time to time, possibly after a close call on the freeway, you might think “I really have to get my affairs in order”.
Nobody wants to plan for their death but then again nobody plans for their family to be left in chaos either. One of the greatest gifts you can give your family is a well-prepared transition and this episode provides you with a well thought out list for your loved ones to follow in their time of loss.
As our good friend Ben Franklin would say “An ounce of prevention is worth a pound of cure.”
As always, please feel free to share this information with anyone you think might find it of interest.
What Would it Be Like to Have a Million Dollars
Survey Reveals Millionaire Investor's Mistakes
The biggest mistake millionaires make when it comes to investing is relying on guidance from historical returns, according to a global survey carried out by deVere Group.
DeVere survey reveals millionaire investors' biggest mistakes
30 days to a more financially secure future.
By Lesley-Anne Scorgie Contributing Columnist
Mon., Oct. 19, 2020
Financially organized people save more money, have less debt and lower stress. Even through the financial uncertainty of 2020, these folks have their house in order; following best practices to simplify their accounts, aligning with their partner on money mindset, protecting their household from financial losses and growing savings for their family’s future. If a financially strong household is what you want, there are a number of things you can do in the next 30 days to improve your cash flow and net worth.
https://www.thestar.com/amp/business/personal_finance/2020/10/19/30-days-to-a-more-financially-secure-future-its-possible-heres-how.html
7 Ways You Throw Away Money Every Day
Sometimes, the best way to save money is simply to stop wasting it.
Unnecessary expenses can eat away at your bank account without providing any real benefit. Taken one by one, these everyday spending errors might seem small, but they can add up to thousands of dollars wasted each year.
Article Written by Emmet Pierce of Money Talks News https://www.moneytalksnews.com/slideshows/7-ways-you-throw-away-money-every-day/
The Seasons of Life
Jim discusses the seasons of life and how each season applies to COVID - 19, our personal lives as well as our financial lives.
Life Lessons Learned from Facing Death - By Jim Lao
In this episode Jim will share some lessons learned from facing death and also questions God's role and his own father's role in saving his life.
Why purpose is key to a happy retirement
Jim highlights some points from the blog post written by Newport Private Wealth and share his experience with assisting clients transition from working to retirement. Jim will share how people romanticize about retirement but the reality is they experience stress, anxiety and fear and depression.
Jim will share strategies on how to transition into retirement and make it a much more enjoyable experience.
Becoming Financially Prepared in an Uncertain World - Ben Rovee
The world has changed dramatically over the last 6 months, both from a medical and economic standpoint. Nobody could have foreseen this global pandemic nor have comprehended the devastating impacts that were about to unfold. Although quarantine has given all of us plenty of time to spend with family, complete unfinished projects around the house, helping others in need, we also began to reflect on the past. Asking ourselves, could I have been more financially prepared? So, how can you become financially prepared in these extraordinary times?
Everyone owes themselves the opportunity to have financial peace of mind. Now is the time to figure out what you can do to be better positioned financially, now and in the future. Consider following some basic foundational principles that focus on building essential groundwork and a strong ‘defense’ for your financial life. A well-positioned defense is the key to creating a sound financial life.
Recovering From Open Heart Surgery
He Held My Heart in His Hands! - The Day of My Surgery - Jim Lao
In this episode I'll take you through the rollercoaster ride of mine and my family's life. I'll share with you what happened to me the evening before the surgery, the surgery itself and the chaos that happened when I finally woke up in the ICU.
COVID-19 Mortgage Update: A summary of the last 90 days featuring Jon Sowerby
Well, what a difference a few months can make. With March 2020 sure to go down as one of the most volatile months on record with 3 interest rate cuts totaling 150 basis points in declines this really is a once in a generation kind of interest rate situation. With the markets in complete turmoil and our finances teetering on the brink I would say (tentatively) that we have some light at the end of the tunnel. The next few months will tell us if this is the road to recovery or simply an oncoming freight train. So while we’re not out of the woods yet the markets have now seen two bank announcements regarding key over night rates (no changes) and a modicum of stability has returned to the market.
My Critical Illness Diagnosis - By Jim Lao
My Critical Illness Story - Leading up to the diagnosis - By Jim Lao
Introducing Tortoise and the Hare Financial Podcast
This is an introduction to the Tortoise and the Hare Financial Podcast hosted by Jim Lao.