Retirement planning is more than just crunching numbers—it’s about aligning your money with your dreams and building a life that feels rich beyond the finances. In this episode of Your Life and Money, hosts Brad Smith and Tim Borody dive into how true financial planning encompasses emotional, social, and physical preparation for retirement. Together, they unpack the latest Fidelity report on Canadians' views on retirement, revealing what really matters for a fulfilling future.Join us as we discuss:The power of a life-centered plan: Why aligning your finances with your values leads to a more satisfying retirement.Planning for the “other side” of retirement: Beyond finances, what it means to be emotionally, socially, and physically ready.Real stories: How retirees’ expectations about retirement evolved and why many found themselves unexpectedly loving the freedom from work.Addressing common fears: Tips on handling inflation, supporting your lifestyle, and ensuring your plan is adaptable for life’s surprises.Expect expert insights on how to get a holistic retirement plan that doesn’t just let you survive but truly thrive in your retirement years. Whether you’re nearing retirement or still years away, this episode offers actionable advice to help you get clear on your goals and dreams.Tune in and discover how a life-centered approach to financial planning can pave the way for a more secure, joyous retirement.

Retirement planning has evolved beyond numbers—it’s about aligning money with your life and values. In this episode of Your Life and Money, Brad Smith and Tim Borody explore the changing landscape of retirement, sharing insights from a new report that uncovers Canadians’ shifting attitudes and priorities as they approach this major life transition.Join us as we dive into:The latest findings on Canadians’ retirement outlook and what’s driving a dip in confidence.How rising inflation and interest rates impact retirement savings and spending.Why retirement timing is shifting and how economic uncertainty is influencing decisions.Practical steps to enhance retirement confidence and flexibility in a volatile world.Whether you’re nearing retirement or years away, this episode offers valuable insights to help you feel prepared and empowered. Got questions or feedback? We’d love to hear from you! Listen in as we unpack the trends and help you set a course for a retirement that aligns with your life goals.

Welcome to Your Life and Money! In this episode, we’re diving into the intricate world of mortgages and financial planning with our guest, Julia Bernier, a seasoned mortgage broker. We’ll explore how to align your financial choices with your life goals, helping you make informed decisions in a fluctuating market.Join hosts Brad Smith and Tim Borody as they uncover practical insights from Julia’s journey in the mortgage industry over the past year. Whether you’re a first-time homebuyer or considering a renewal, this episode is packed with valuable advice and strategies to help you navigate the current landscape.In this episode, we discuss:Recent changes in mortgage rates and what they mean for buyers.The psychological impact of interest rates on first-time homebuyers.Proposed changes to CMHC mortgage rules that could open new doors for buyers.Key strategies for approaching mortgage renewals in a shifting market.Real-life stories of individuals who’ve successfully aligned their financial goals with their personal values.This episode offers you practical takeaways, expert insights, and inspiration to approach your financial future with confidence.Tune in and discover how to take control of your financial journey while staying true to what matters most in your life!

Are you ready to embark on one of the most important transitions of your life? Welcome to Your Life and Money, where financial planning goes beyond numbers—it's about aligning your money with your life, values, and priorities. In this episode, Brad Smith and Tim Borody dive deep into the emotional and financial complexities of exiting a business and what comes next.Whether you're a business owner preparing for retirement, a company sale, or passing the reins to the next generation, these transitions can be daunting. But fear not! This episode provides real-life stories and expert advice to guide you through the ups and downs of leaving your business behind and moving on to your next chapter.Key Takeaways:How to emotionally and mentally prepare for a business exit and avoid the “failure to launch” stage.The rollercoaster of emotions post-exit: isolation, doubt, excitement, and how to manage them.Why most people only get one or two chances to exit a business and how to make yours count.Practical tips for planning ahead to ensure your business thrives, even after you leave.The importance of finding purpose beyond your business and how to create a fulfilling life post-exit.What You’ll Gain:Insightful strategies to create a seamless and successful business exit.Inspiration and motivation to prioritize your personal well-being after leaving your business.Real-world examples of business owners who’ve walked the path before you.A roadmap to avoid the emotional and financial pitfalls of exiting a business.Don’t miss this valuable episode on mastering life’s transitions and creating a life-centered plan for your future! Tune in now for expert insights and actionable advice that will help you plan a healthy and successful exit.

Ever wondered how to align your money with your values while planning for life’s biggest transitions? Welcome to Your Life and Money, where we believe financial planning isn’t just about numbers—it’s about your life. Join Brad Smith and Tim Borody as they dive into real stories of people using life-centered financial planning to achieve their goals and live out their dreams.In this episode, we explore the emotional and strategic side of business succession and major life transitions like retirement and career changes. Drawing from personal experiences and expert insights, we break down the crucial elements of transitioning well, ensuring that you not only exit but exit with purpose and satisfaction.Key topics we cover:How to align your money with your life goals and valuesThe importance of planning for your business exit strategy early onEmotional phases of transitioning, from increasing anxiety to the "lame duck" phaseThe staggering number of business owners who regret their exit and how to avoid that trapStrategies to ensure you exit with fulfillment, not regretThe critical role of financial planning during life transitionsWhether you’re a business owner planning for succession, a professional contemplating retirement, or anyone facing a significant life shift, this episode will provide you with actionable insights to make these transitions smoother and more aligned with your personal goals. Hear firsthand experiences that will inspire you to finish well and find contentment on the other side of change.Tune in to ensure your life and financial transitions are as rewarding as your journey.

Welcome to "Your Life and Money," where financial planning isn't just about numbers—it's about your life. I'm Brad Smith, joined by Tim Borody, and each episode, we share inspiring stories from real people who have achieved their dreams through life-centered planning. In today's episode, we're excited to welcome a special guest, Anneline Breetzke, a successful business owner and a longtime client.In this episode, you'll discover:The power of aligning your money with your values and priorities.Anneline's unique journey from South Africa to Canada and her transition from teaching to entrepreneurship.The challenges and rewards of starting and growing multiple businesses.Insights into the importance of niching down and focusing on business development.The value of building a strong team and effective project management.How life-centered planning has supported Anneline in achieving her personal and professional goals.Join us as Anneline shares her story, the lessons she's learned, and the strategies that have helped her succeed. Her journey is a testament to the power of potential and the importance of planning for the future. Whether you're an aspiring entrepreneur, a seasoned business owner, or someone looking to align your finances with your life goals, this episode offers valuable insights and inspiration.Tune in to learn:How to identify and focus on your niche for business success.The benefits of having a dedicated business development team.The role of a project manager in ensuring smooth operations and growth.Practical tips for balancing personal drive with team collaboration.Strategies for effective financial planning and decision-making.Don't miss this inspiring episode that emphasizes the transformative power of aligning your life and money. Tune in and take the next step towards achieving your goals!

Ever wondered how to align your financial goals with your life aspirations? Welcome to "Your Life and Money," where we believe financial planning is not just about numbers but about crafting a life you love. Hosted by Brad Smith and Tim Borody, each episode brings you real stories from individuals who have achieved their dreams through life-centered financial planning.In this episode, we are thrilled to have Travis Forman, a key figure in financial planning and portfolio management, joining us. Travis shares his journey and insights into life-centered financial planning, offering invaluable advice for aligning your money with your values and priorities.Key Topics Covered:The importance of aligning money with life goals and values.Travis Foreman's dual roles at Harbor Funds and Strategic Wealth Council.The concept and benefits of private investment pools.Differences between private and public investments and why they matter.Practical advice on integrating private investments into traditional portfolios.What You'll Gain:Inspiration and motivation from real-life success stories.Expert insights into life-centered financial planning.Practical advice on how to align your financial plans with your life goals.Understanding the value and benefits of private investment pools.Join us on this journey to a life-centered financial plan, and let's make your money work for your life. Tune in now and discover the path to financial success that aligns with your dreams and priorities!

Welcome to "Your Life and Money," where financial planning is more than just numbers—it's about your life. I'm Brad Smith, joined by Tim Borody, and in this episode, we delve into the often overlooked yet crucial topic of life insurance. Discover how aligning your money with your values can pave the way to achieving your goals and dreams.In This Episode, We Cover:Understanding Life Insurance: Why it's a vital part of your financial plan and how it provides both provision and protection.Real-Life Examples: Stories of individuals using life insurance to meet their unique needs, including Tim’s personal experiences and a case study of a single-income family with special needs planning.Reviewing Your Insurance: The importance of regularly reassessing your policies to ensure they align with your changing life circumstances.Living Benefits of Insurance: An overview of disability and critical illness insurance, highlighting their significance and practical applications.Tailored Insurance Solutions: How to customize insurance policies to fit your specific requirements, ensuring peace of mind and financial stability.By the end of this episode, you'll gain valuable insights into making informed decisions about life insurance, ensuring your financial plan is robust and life-centered.Tune in to learn how to secure the best life possible with the time and money you have. Let's get started on your journey to a life-centered financial plan!

Welcome to "Your Life and Money," where we believe financial planning is not just about numbers, it's about your life. I'm Brad Smith, joined by Tim Borody, and in each episode, we share stories from real people who have used life-centered planning to achieve their goals and dreams. Today, we're diving into the world of risk management and insurance, with a focus on life insurance.Understanding the types of life insurance can be confusing, but we're here to simplify it. In this episode, we explore the history and evolution of life insurance, breaking down the three main types: whole life, term life, and universal life. We'll help you understand the differences, benefits, and which might be best for your specific needs.In This Episode, We Cover:The history and evolution of life insurance from the 1700s to the present day.The fundamentals of whole life insurance and its benefits.The concept of term life insurance and why it might be the right choice for many.The birth and advantages of universal life insurance.Common misconceptions about life insurance.Practical advice on choosing the right insurance based on your personal goals and financial situation.Benefits of Listening:Gain a clear understanding of the different types of life insurance.Learn how to align your insurance choices with your financial goals.Get practical advice on selecting the best life insurance for your needs.Discover how life insurance can play a crucial role in your overall financial plan.Tune in and take the first step towards a life-centered financial plan that aligns with your values and priorities. Don't miss out on this insightful episode of "Your Life and Money"!

Are you ready to transform your financial journey? In this episode of "Your Life and Money," hosts Brad Smith and Tim Borody dive deep into the art of aligning your finances with your values. We believe that financial planning is not just about numbers—it's about your life. Join us as we share real stories and practical advice to help you achieve your goals and dreams through life-centered planning.Episode Highlights:Decluttering Your Finances: Discover how decluttering your physical space can parallel decluttering your financial life.Aligning Money with Values: Learn the importance of matching your financial decisions with your personal priorities.Risk Management and Insurance: Understand the often overlooked but crucial pillar of financial planning.Philosophy of Risk Management: Explore our approach to risk management and how it fits into a life-centered financial plan.Provision vs. Protection: Shift your mindset from mere protection to provision and stewardship.Mortgage Insurance Insights: Get the lowdown on the differences between bank mortgage insurance and traditional term life insurance.Practical Tips and Real-Life Examples: Benefit from specific examples and actionable advice to manage your insurance needs effectively.This episode offers practical insights and valuable strategies to help you organize your financial life, align your money with your values, and make informed decisions about risk management and insurance. You'll gain inspiration and motivation to take control of your financial future with confidence. Don't miss this episode filled with expert insights and practical advice. Listen now to start decluttering your financial life and aligning your money with what truly matters to you.

Welcome to "Your Life and Money," where financial planning goes beyond numbers to enrich your life. I'm Brad Smith, joined by Tim Borody. In each episode, we share real-life stories of people who have used life-centered planning to achieve their dreams, alongside actionable advice to help you align your money with your values and priorities.In today's episode, we dive into the concept of return on life and how it can guide major life transitions. We discuss my recent personal experience of moving homes, a transition inspired by the Return on Life Index, and how this move aligns with our goals and enhances our lifestyle.In this episode, we cover:Understanding the Return on Life Index: How it evaluates various aspects of your life beyond finances.Major Life Transitions: Navigating the emotional and practical aspects of significant changes, such as moving homes.Aligning Your Home with Your Needs: Evaluating if your current residence meets your evolving needs and desires.Financial Planning Beyond Numbers: How focusing on quality of life can drive financial decisions.The Impact of Federal Budget Changes: Analyzing recent budget changes and their effects on housing and capital gains.Strategies for Wealth Transfer: Practical advice on minimizing tax burdens during wealth transfer, with a focus on life insurance.Benefits of Listening:Gain insights on how to align your financial decisions with your life goals.Learn practical strategies for managing major life transitions.Understand the implications of recent federal budget changes on your finances.Discover expert tips on minimizing taxes during wealth transfer.Tune in to this episode for valuable insights on how life-centered planning can enhance your financial and personal well-being. Let's embark on this journey together to achieve a fulfilling and financially secure life.

Welcome back to "Your Life and Money," where we delve deep into the intersection of financial planning and personal values. In this episode, we continue our conversation with Christine Tessier as she unpacks the megatrends shaping our economic landscape.In part two of our discussion, we explore how demographic shifts, geopolitical tensions, clean energy initiatives, and the rise of AI and machine learning are impacting investment strategies and financial planning decisions. Christine provides expert insights into these trends and offers practical advice for investors navigating uncertain times.Key Points Covered:Demographic Shifts:Aging populations and its implications on wealth transfer and workforce dynamics.Population migration and its impact on housing, healthcare, and labor markets.Work trends among different demographic groups and their influence on real estate investments.Geopolitical Tensions:Rising global tensions and their inflationary effects on markets.Implications for industries like transportation, infrastructure, and food stability.Anticipated regulatory changes and their impact on market dynamics.Clean Energy Initiatives:The intersection of environmental sustainability and economic considerations.Risks and opportunities associated with clean energy investments.Regulatory changes and their effects on energy infrastructure and investment strategies.AI and Machine Learning:The transformative potential of AI and machine learning in various sectors.Anticipated challenges in pricing productivity gains and managing risks.Regulatory concerns and the need for innovation in the face of technological advancements.Investment Strategies:Diversification strategies in response to changing economic conditions.Considerations for private debt and real estate investments.Balancing risk and opportunity in a volatile market environment.Gain valuable insights into investment opportunities and risk management strategies in the face of evolving megatrends. Learn how to align your financial goals with broader economic shifts and position yourself for long-term success.As we navigate the complex landscape of global megatrends, understanding their implications on our finances is more crucial than ever. Tune in to gain expert insights and actionable advice to thrive in an ever-changing economic environment. Don't miss out on this insightful episode of "Your Life and Money."

Welcome aboard to "Charting Paths," where we navigate the twists and turns of financial markets with expert guidance. In this special two-part episode, we dive deep into the realm of economic uncertainty and portfolio management with Christine Tessier, the Chief Investment Officer of Harbourfront Wealth Management.In Part 1, we kick off our discussion with an exploration of the current economic landscape, analyzing the contradictory signals and trends shaping market dynamics. From inflation concerns to interest rate fluctuations, we unravel the complexities of today's financial world.Key Points Covered:Understanding the significance of aligning financial decisions with personal values and priorities.Exploring the theme of uncertainty in economic data and market projections.Insights into inflation trends, interest rate forecasts, and their impact on investment strategies.Analysis of the Canadian federal budget and its implications for investors.Christine's recommendations on diversified asset allocation and portfolio management strategies.Highlighting the importance of comprehensive financial planning amidst economic fluctuations.Practical Takeaways for Listeners:Gain valuable insights into navigating economic uncertainties and making informed investment decisions.Learn how to diversify your investment portfolio across various asset classes for long-term growth.Understand the significance of aligning financial goals with personalized life-centered planning strategies.Explore practical tips for optimizing your financial plan in response to changing market conditions.Tune in to Part 2 of our conversation with Christine Tessier as we delve deeper into economic megatrends and actionable strategies for building a resilient financial future. Don't miss out on this insightful journey toward financial empowerment and stability.

Welcome to another episode of "Your Life and Money," where we delve into the intricate relationship between financial planning and life's deeper values. In this episode, we revisit key insights from a recent interview and explore the profound impact of aligning money with personal truth.Key Points Covered:Reflections on an interview with Paul, emphasizing the importance of embracing mortality and living authentically.The significance of telling the truth about money and dispelling misconceptions in financial planning.Contrasting traditional product-centric approaches with a focus on lifestyle desires and financial sustainability.Addressing societal shifts towards prioritizing life experiences over excessive accumulation.Core values driving meaningful financial planning and client-centered strategies.Benefits for Listeners:Gain insights into embracing mortality and aligning financial decisions with life goals.Understand the transformative power of truthful financial planning beyond product comparisons.Explore strategies for creating a life-centered financial plan that prioritizes personal fulfillment.Engage with thought-provoking discussions on wealth stewardship and legacy planning.Thank you for tuning in to "Your Life and Money." Remember, financial planning is not just about numbers—it's about living the life you desire. Stay tuned for more inspiring stories, insights, and strategies to enrich your money and your life.

Welcome to "Your Life and Money," where we delve into the transformative power of life-centered financial planning. Join hosts Brad Smith and Tim Borody as they explore stories of real people who have aligned their finances with their life goals and dreams.In this episode, Brad is joined by Paul Armson, a trailblazer in the financial planning industry who challenges conventional wisdom. Paul shares insights from his book, "Enough," which redefines the purpose of financial advising and empowers individuals to live their best lives without financial worries.Key Points:Aligning Money with Values: Discover the importance of aligning your financial decisions with your values and priorities.The Frustration of Traditional Financial Planning: Learn why Paul Anson felt compelled to challenge the status quo of the financial industry and redefine financial advising.Life-Centered Financial Planning: Explore the concept of life-centered financial planning and how it prioritizes clients' life goals over financial products.Moving Beyond "If Only": Understand the profound impact of living life to the fullest and avoiding regrets, as illustrated by personal experiences shared by Paul Anson.The Realization: Gain insights into Paul's journey and how personal experiences, including the loss of a loved one, shaped his perspective on life and financial planning.Practical Insights and Benefits:Gain a deeper understanding of how financial planning can enrich your life beyond mere numbers.Learn practical strategies for aligning your financial decisions with your life goals.Be inspired to embrace a life-centered approach to financial planning and prioritize what truly matters to you.Join us as we challenge the traditional norms of financial advising and embark on a journey to living a life of fulfillment and abundance. Tune in to "Your Life and Money" and start transforming your financial future today!

Welcome back to another episode of "Your Life and Money," where we dive deep into the world of financial planning, believing that it's not just about numbers but about crafting a plan that aligns with your life. I'm your host, Brad Smith, joined by the insightful Tim Borody. Today, as we find ourselves amidst tax season, we're addressing the common questions flooding our inbox.In this episode, we unravel the complexities of financial decisions, focusing on tax refunds, investment options, and the intricate dance between mortgages and savings. From RRSPs to TFSAs and the recently introduced First Home Savings Account, we'll guide you through the maze of choices to help you make informed decisions.Key Points Covered:Unpacking the age-old question: "I got my tax refund, now what?"Navigating the terrain of RRSPs and TFSAs: Understanding the benefits and limitations.The game-changer: First Home Savings Account - How does it compare to traditional options?Strategies for couples: Leveraging both partners' contributions for maximum benefits.Homeownership dilemmas: Paying down the mortgage vs. investing in TFSA - A personalized approach.The evolving landscape: Why there's no one-size-fits-all answer to financial questions.Learn the nuances of RRSPs, TFSAs, and the First Home Savings Account.Understand the implications of paying down your mortgage vs. investing in tax-free savings.Gain insights into crafting a personalized financial plan that aligns with your goals.Explore strategies for maximizing benefits as a couple in the realm of home savings.Tune in to "Life and Money" for real stories, expert advice, and a journey towards a life-centered financial plan. Because your financial journey is not just about money—it's about your life.

Welcome back to "Your Life and Money," the podcast that goes beyond the numbers and dives deep into the intersection of life and financial planning. I'm Brad Smith, joined by Tim Borody, and in this episode, we are joined by tax expert Angelique Gray, CPA CA. to discuss the key aspects of the 2023 tax season.In this insightful episode, we break down the important changes and considerations for individuals and businesses as they navigate the evolving landscape of tax regulations. From practical tips on preparing for tax filing to the impact of recent tax changes on various financial scenarios, this episode is packed with valuable information to empower you in making informed financial decisions.Key Topics Covered:The shift from the $2-a-day home office deduction and its implications for 2023.The importance of providing paper slips to accountants despite the increasing digitization.Changes in tax credits, including the elimination of the staycation credit for 2023.Practical advice on paying taxes online and avoiding penalties for amounts exceeding $10,000.Updates on housing-related tax considerations, including the new first home savings account.Insights into the multigenerational renovation credit and its impact on home improvements.A detailed overview of the underused or unused housing tax and who needs to be aware of it.New rules and reporting requirements for trusts, especially bear trusts.The upcoming changes in intergenerational business transfers and the introduction of AMT (Alternative Minimum Tax).Whether you're an individual taxpayer, business owner, or someone navigating the complexities of trusts and housing, this episode provides a roadmap for understanding and optimizing your financial situation in 2023. Join us on this journey to financial empowerment and gain valuable insights for a successful tax season. Tune in now and stay ahead of the curve in managing your life and money!

Welcome to Your Life and Money, where we believe that financial planning is not just about numbers; it's about your life. Join hosts Brad Smith and Tim Borody as they delve into the world of life-centered planning, sharing inspiring stories and valuable advice from real people who have achieved their goals. In this episode, they are joined by special guest Angelique Gray.Key Points:The importance of aligning financial success with values and priorities.Angelique's journey into accounting and her experience.Insights into the diverse clientele and services provided by the firm.The significance of early and collaborative planning for financial success.Addressing common questions and concerns related to tax planning and financial decisions.The value of a seamless collaboration between financial planners and accountants.Angelique's personal and professional life, including family and the joy of working with clients.Learn about the benefits of aligning your financial goals with your values and priorities.Gain insights into the world of accounting and the importance of early tax planning.Understand the value of collaboration between financial planners and accountants for comprehensive life-centered planning.Discover practical tips and considerations for making informed financial decisions.Tune in for more inspiring stories, expert insights, and practical strategies to help you navigate your life and money. Remember, financial planning is about more than just money; it's about planning for the life you deserve. Until next time, take care and keep planning!

Welcome to "Your Life and Money," where financial planning is more than just numbers—it's about aligning your money with your values and priorities. Join hosts Brad Smith and Tim Borody as they share stories of real people who have achieved their goals through life-centered planning. In this episode, the hosts delve into the fascinating topic of wealth languages, exploring how different individuals approach money and financial planning.Highlights:Introduction to Wealth Languages: Brad and Tim discuss the concept of wealth languages and how understanding them can enhance financial communication and relationships.The Four Quadrants: The hosts explore the four wealth languages by breaking them down into quadrants based on risk and time perspectives.Stability Wealth Language: Focused on low-risk and immediate-term financial stability.Future Wealth Language: Concentrated on low risk but with a focus on the long term.Moment Wealth Language: Thriving on short-term high-risk opportunities and living in the present.Opportunity Wealth Language: Embracing high-risk, long-term opportunities and entrepreneurial endeavors.Strengths and Challenges: Brad and Tim discuss the strengths and potential challenges associated with each wealth language, offering insights into how these traits manifest in different individuals.Interactive Activity: The hosts encourage listeners to identify their primary and possibly secondary wealth languages by considering what they would spend a meaningful sum of money on if it fell into their laps tomorrow.Building Understanding and Collaboration: The episode emphasizes the importance of recognizing and appreciating different wealth languages to facilitate effective communication and collaboration, especially in relationships where partners may have varying approaches to money.Tune in to gain valuable insights into your financial mindset and discover how understanding wealth languages can lead to better financial planning and enriched relationships. Don't miss the chance to unlock the secrets behind the ABCs of financial communication!

Welcome to "Your Life and Money," where financial planning goes beyond numbers and dives into the essence of your life. Join hosts Brad Smith and Tim Borody as they share inspiring stories of real people who have achieved their dreams through life-centered planning and valuable advice.In this episode, Brad and Tim introduce powerful tools designed for 2024, focusing on retirement planning and investments. They emphasize the importance of aligning your money with your values and priorities for financial success. The hosts explore tools that evaluate your confidence in retirement plans, addressing risks, inflation, and the often-overlooked aspects of post-retirement life.Key Topics:Overview of life-centered planningIntroduction to new tools for 2024Retirement planning and investment alignmentEvaluating confidence in retirement plansUncovering risks and addressing inflationThe significance of ongoing plan supervisionUtilizing tax strategies for financial successThe role of financial planning in lifestyle improvementEncouraging engagement and regular plan reviewsNavigating the complexities of estate planningInterview with client Tim on the benefits of financial planningAchieving early retirement through a flexible financial planThe three C's of financial planning: Clarity, Confidence, and ChoiceDiscover how life-centered planning and the introduced tools can provide clarity, boost confidence, and offer choices in your financial journey. Gain insights into retirement planning, investment alignment, and the benefits of early financial planning from a real client's perspective.Tune in to "Your Life and Money" and embark on the journey to a life-centered plan that goes beyond numbers, creating a roadmap for financial success aligned with your unique values and priorities.

Welcome to "Your Life and Money," where financial planning goes beyond numbers to shape your life. Join hosts Brad Smith and Tim Borody as they kick off the first episode of 2024 with a deep dive into the exciting world of life-centered planning. Discover real stories of individuals achieving their dreams through strategic financial planning and gain valuable advice to apply to your own journey.Episode Highlights:Aligning Money with Values: Explore why the key to financial success lies in aligning your money with your values and priorities.Optimism for 2024: Brad shares his optimistic outlook for the year ahead, discussing the adaptability of humanity and the potential impact of artificial intelligence.The Role of AI in Financial Planning: Tim and Brad delve into the role of artificial intelligence in financial planning, discussing challenges and opportunities.Financial Planning Scorecard: Learn about a comprehensive financial planning scorecard that provides a personalized roadmap. Discover how it addresses crucial questions about sufficiency, future expenditures, and confidence in financial goals.Improving Relationships through Financial Planning: Understand the interconnected nature of financial planning and relationships. Explore how creating experiences with loved ones can impact your financial plan.Upcoming Episodes: Get a sneak peek into the next episodes covering retirement planning, estate planning, and a special guest speaker.Join Brad and Tim on the journey to a life-centered plan. Sit back, relax, and let's make 2024 a year of financial empowerment and fulfillment! Tune in now and embrace the possibilities that life-centered financial planning can unfold in 2024!

Welcome to "Your Life and Money," where financial planning isn't just about numbers—it's about your life. I'm Brad Smith, joined by Tim Borody, and in each episode, we share real stories of people who've used life-centered planning to achieve their goals and dreams. Today, as we approach the end of 2023, we're diving into the topic of New Year's resolutions and goal-setting. But we're putting a twist on it, focusing on the practical aspects of making meaningful changes in your life.Key Points for Today's Episode:Aligning Money with Values: Financial success is about more than numbers; it's about aligning your money with your values and priorities.Challenges of Goal Setting: Many people find it challenging to set specific goals, especially when it comes to financial planning. Traditional goal-setting can feel forced and lead to a fear of failure.Exploring Possibilities: Instead of rigid goals, we explore possibilities for the future using tools like lifelines and the Return on Life index. This approach allows for flexibility and a more realistic view of progress.Retirement Redefined: The conversation around retirement has evolved. Rather than a fixed date, we explore possibilities and visions for the retirement lifestyle, acknowledging that it's a dynamic concept.Navigating Uncertainty: As we look ahead to 2024, external factors like geopolitical unrest, inflation, and interest rates remain uncertain. Emphasizing the importance of focusing on what you can control and stewarding your resources wisely.Living Financial Plan: A financial plan is a living document that requires constant monitoring and adjustments. It's not a one-and-done process but an ongoing journey to ensure your financial and life goals are on track.Measuring Progress: Avoid relying solely on investment statements to measure progress. A comprehensive life plan, financial plan, and investment plan together provide a more accurate assessment of your journey.As we enter 2024, let's shift our mindset from rigid resolutions to exploring possibilities for a fulfilling life. Remember, it's not just about the return on investment but also about the return on life.Stay tuned for more insights, real stories, and practical tips on "Your Life and Money."If you have questions or want to share your experiences, feel free to reach out to us. We're here to help you navigate the journey to a life-centered plan. Until then, happy planning, and let's make 2024 a year of meaningful progress.

Welcome to "Your Life and Money," where financial planning isn't just about numbers—it's about your life. I'm Brad Smith, joined always by Tim Borody, and in each episode, we share real stories of people who've used life-centered planning to achieve their goals and dreams.Today, we're diving into the holiday season, reminiscing about our own childhoods, and exploring the joy of generosity, a topic that often takes center stage during this time of year.Key Points for Today's Episode:Early Morning Christmas TraditionsGenerosity and Giving During the HolidaysThe Three Levels of Financial MindsetTeaser for Upcoming Episodes: "Enough" by Paul Armson.Clarity, Confidence, and Contentment: Brad and Tim emphasize key elements of financial planning.Encouraging Spending and Generosity:As we approach the end of the year and the holiday season, we encourage listeners to reflect on their own traditions, generosity, and financial mindset. Whether it's sharing stories, giving back to others, or finding contentment in financial decisions, the holiday season offers a unique opportunity to appreciate the true value of life and money.Tune in to our upcoming episodes as we delve into the book "Enough" and explore the concept of contentment in financial planning. In the meantime, remember that financial planning is not just about the numbers; it's about creating a life that aligns with your values and brings you joy. So, sit back, relax, and let's continue the journey to a life-centered plan.

Life and Money Unveiled: Navigating the Estate Planning MazeWelcome to "Your Life & Money," the podcast where financial planning is not just about numbers; it's about your life. I'm Brad Smith, joined by Tim Borody, and in this episode, we unravel the complexities of estate planning with special guest Dawn Phillips-Brown, a seasoned lawyer from Madorin, Snyder in Kitchener, Ontario.In this insightful episode, Dawnn shares her expertise in estate litigation, power of attorney matters, and the importance of communication in avoiding family disputes. Get ready to gain valuable insights into aligning your financial plan with your values and priorities.Key Points:Understanding the exponential growth of estate litigation and its common triggers.The significance of effective communication within families to prevent disputes.The impact of second marriages and unique family dynamics on estate planning.Practical advice on documenting and communicating your estate plan to avoid future conflicts.Pitfalls and challenges associated with joint assets and the importance of clear intentions.Real-life examples of how inadequate communication can lead to unintended consequences.The role of trusted advisors, including lawyers, accountants, and financial planners, in comprehensive estate planning.Why engaging a lawyer during estate administration is crucial for navigating legal complexities.Don't let the perceived cost of legal advice deter you—investing upfront can save significant time and money in the long run.Join us in this eye-opening conversation as we uncover the intricacies of estate planning and empower you to navigate the maze with confidence and clarity.

Navigating Financial Markets and Building a Resilient Portfolio with Ian GoodmanWelcome to "Your Life and Money," where we believe that financial planning is not just about numbers; it's about your life. In this episode, we're excited to have Ian Goodman, a senior portfolio manager with Watermark Private Portfolios, sharing his insights on building a resilient investment portfolio and navigating financial markets.Key Points and Topics Covered:Ian's journey in the financial industry and his role at Watermark Private Portfolios.The importance of aligning your investments with your long-term financial goals.Understanding the benefits of private real estate, private credit, and private equity as alternative investment options.Managing risk and volatility in your portfolio.The impact of rising interest rates on investments.The role of liquidity and cash management in alternative investments.Why diversifying into private investments can provide stability and long-term growth.The significance of having access to private investments in Canada.Ian's insights on the future of real estate and rental markets in Canada.The value of long-term financial planning in managing investments.This episode offers valuable insights into building a resilient and diversified investment portfolio and the role of alternative investments in managing risk and achieving financial goals. Join us on this informative journey into the world of private investments and financial planning.We encourage our listeners to send in their questions and thoughts about investing and financial planning. Feel free to reach out to us to continue the conversation.

Navigating Wealth Transfer & Family HarmonyWelcome to "Your Life & Money: Navigating Wealth Transfer & Family Harmony," a podcast where we dive into the art and science of passing on your legacy with wisdom. Hosted by Brad Smith and Tim Borody, we believe financial planning is more than just numbers—it's about aligning your money with your values. In each episode, we share real-life stories of successful life-centered planning and valuable advice.In this episode, we continue our discussion on wealth transfer and estate planning, focusing on tools and techniques essential for a successful transition of assets. We emphasize the importance of family meetings and open communication to bridge expectations and promote family harmony in these critical decisions.Key Topics:The significance of aligning wealth with family values and prioritiesStrategies for effective wealth transfer and estate planningThe importance of family meetings and open communicationAddressing complexities in family dynamics and blended familiesBalancing fairness and equality in wealth distributionPractical tips for a successful transition of assetsJoin us as we explore the essential steps and considerations for a thoughtful and effective wealth transfer, ensuring a legacy that goes beyond mere financial transactions. Tune in and embark on a journey toward a life-centered plan that truly matters.

Timing and Title: Navigating Wealth Transfer DecisionsWelcome to "Your Life and Money," where we believe financial planning is more than just numbers—it's about aligning your money with your values and priorities. I'm Brad Smith, always joined by Tim Borody. In this episode, we dive into the crucial decisions of timing and title when it comes to wealth transfer. We'll share stories of individuals who've used life-centered planning to achieve their goals and provide expert advice.In the last episode, we explored transfer and treatment decisions, setting the stage for today's discussion. We're delving into when and how to transfer wealth, exploring the intricacies of timing and the importance of choosing the right title for assets. We believe the key to financial success lies in aligning your wealth with your life's values.Key Points and Topics:Understanding the timing decision: When is it appropriate to transfer wealth to the next generation?Principles of maximizing wealth use for yourself, heirs, and charities.The significance of "do your giving while you're living" and seeing the impact in real-time.Practical considerations and potential benefits of giving to charities while alive.Warning signs when giving money to the next generation and potential negative consequences.The role of financial planning in confidently making decisions about wealth transfer. Join us as we navigate the complexities of timing and title decisions in wealth transfer, aiming to guide you toward a life-centered plan that aligns with your values and aspirations. Tune in, relax, and let's embark on this journey towards a life-centered plan.

Navigating Wealth Transfer: Treasures, Wisdom, and Unique TreatmentWelcome to "Your Life and Money," where we believe that financial planning is not just about numbers; it's about your life. I'm Brad Smith, joined as always by Tim Borody. In each episode, we'll be sharing stories from real people who have used life-centered planning to achieve their goals and dreams, along with expert advice. First and foremost, we believe that the key to financial success is aligning your money with your values and priorities.Today's episode delves deep into the critical distinctions between traditional estate planning and the revolutionary concept of wealth transfer. Join us as we explore the underlying principles and decision-making involved in crafting a thoughtful and meaningful wealth transfer strategy.In this episode, we'll cover:The Treasure Principle: Understanding when and how to transfer wealth to the next generation or charitable causes, considering both personal needs and broader impacts.The Unity Principle: Navigating the challenges of decision-making as partners in a relationship, ensuring alignment and avoiding potential discord.The Wisdom Principle: Recognizing the importance of passing on wisdom alongside wealth, preparing the next generation to manage and steward their inheritance wisely.The Treatment Decision: Grappling with the concept that treating loved ones uniquely doesn't equate to unequal love, and exploring the significance of this distinction.We'll share stories that highlight these principles and delve into the heart of meaningful wealth transfer. By the end of this episode, you'll gain insights and perspectives that empower you to approach estate planning and wealth transfer with a life-centered perspective, fostering unity, wisdom, and purpose in your financial journey.So, if you're ready to shift your perspective on wealth transfer, dive into the principles that matter most, and ensure your legacy aligns with your values, this episode is a must-listen. Sit back, relax, and embark on a transformative journey toward a life-centered plan.Thanks for tuning in, and let's get started on the path to a life-centered plan.

Welcome to "Your Life and Money," the podcast where financial planning isn't just about numbers, it's about your life. I'm your host, Brad Smith, joined as always by Tim Borody. In each episode, we share stories from real people who've used life-centered planning to achieve their dreams and offer practical advice. We believe that financial success is about aligning your money with your values and priorities.Join us in this episode as we delve into the crucial topic of "Finishing Well." Life is not a rehearsal, and as we explore the key theme of aligning your financial plans with your life values, we're reminded of the importance of preparing for the future and ensuring that you leave a lasting legacy.Episode Highlights:The importance of life-centered planning and aligning finances with values and priorities.Exploring the idea that life is not a rehearsal and the significance of "Finishing Well."The challenges of addressing end-of-life preparations and estate planning.Navigating the emotional complexities of estate planning and preparing for the unknown.The pitfalls of not having a clear estate plan and its impact on surviving family members.The difference between traditional estate planning and a holistic wealth transfer process.Introducing the concept of stewardship and how it influences end-of-life decisions.Recognizing the traps of focusing solely on taxes in estate planning.The significance of making informed decisions that align with personal values.The value of proactive discussions and decisions for a smooth wealth transfer.Practical Takeaways:Understand that financial planning is about more than numbers; it's about aligning your finances with your values.Embrace the concept of stewardship and focus on making intentional decisions for your legacy.Recognize the emotional complexities of end-of-life planning and engage in open discussions.Avoid common pitfalls by seeking a comprehensive wealth transfer process over traditional estate planning.Consider the broader implications of financial decisions beyond just tax considerations.Tune in to this insightful episode to learn how you can create a life-centered plan that ensures you finish well, leaving a lasting legacy that aligns with your values and priorities. Remember, life is not a rehearsal – it's time to plan for the future you want.

Your Life and Money: Unpacking Your Wealth LanguagesWelcome to "Your Life and Money," where we believe that financial planning is not just about numbers; it's about your life. In this episode, hosts Brad Smith and Tim Borody dive into a fascinating topic: unpacking your wealth languages. They share real stories of people who have achieved their goals through life-centered planning and offer valuable advice.Key Points and Discussions Covered:Understanding the concept of wealth languages and how they influence financial decisions.Aligning your money with your values and priorities for financial success.Unpacking the fiscal-osophy"(fiscal + philosophy) tool to identify your comfort levels with various aspects of money.The importance of aligning your investments with your values and long-term goals.Strategies for managing debt and finding comfort in your financial situation.Balancing the desire to provide for your children while teaching them the value of money and responsibility.The significance of revisiting financial perspectives periodically and making adjustments accordingly.Discover how understanding your wealth languages can help you make better financial decisions, improve your relationship with money, and work towards your life goals. Gain insights into financial planning and investment strategies tailored to your unique perspective and comfort levels.Join us on this insightful journey as we unpack the complexities of your wealth languages and learn how to navigate financial planning with a newfound perspective on life and money. Tune in now to gain valuable insights that can transform your financial future.

Life-Centered Planning: Navigating the High-Interest Rate Environment with Special Guest Julia BernierWelcome to "Your Life and Money," where we believe financial planning isn't just about numbers, but about aligning your money with your values and priorities. In this episode, join hosts Brad Smith and Tim Borody as they share inspiring stories of real people achieving their goals through life-centered planning and offer expert advice.Meet special guest Julia Bernier, a four-time Reader's Choice award-winning mortgage broker with valuable insights into the market. Julia shares her professional journey, transitioning from banking to becoming an independent, unbiased mortgage advisor. As a leading expert, she provides crucial advice on navigating the current high-interest rate environment and making informed decisions about mortgage renewals and refinancing.Tim and Julia delve into the differences between variable and fixed-rate mortgages and explore how they relate to the changing interest rate landscape. Learn strategies for managing mortgages within a broader financial plan and be empowered to take charge of your financial future.Practical Value:Gain expert insights into navigating the current high-interest rate environment and its impact on mortgages.Learn strategies for making mortgage decisions that align with your long-term financial goals.Understand the benefits of life-centered planning and aligning your money with your values and priorities.Connect & Engage:Have questions or thoughts to share? Reach out to Julia Bernier at:Website: www.juliabernier.comEmail: [email protected] Media: Instagram - @ms_mortgage, Facebook - Julia Bernier Mortgage AgentTake charge of your financial future by tuning in to this episode of "Your Life and Money." Discover how life-centered planning, alongside insights from special guest Julia Bernier, can help you make informed decisions in the face of high-interest rates and pave the way to achieve your dreams and goals. Don't miss out on the valuable advice and insights shared in this episode, and remember, financial success is within your reach.

Achieving Clarity and Confidence: Stories of Life-Centered Financial PlanningWelcome to "Your Life and Money," where financial planning goes beyond numbers and focuses on your life. In this episode, hosts Brad Smith and Tim Borody share inspiring stories of real people who have used life-centered planning to achieve their goals and dreams. They discuss the importance of aligning your money with your values and priorities, and how this approach can lead to a more fulfilling life.Key Points:The value of life-centered financial planningStories of clients who have experienced the benefits of life-centered planningUnpacking the disconnect between personal and business financial plansHow fiscal loss effect and financial lifelines empower clientsBridging the gap between serving the business and having the business serve youThe power of clarity, confidence, and contentment in financial planningJoin Brad and Tim as they share practical insights and real-life examples that demonstrate the transformative impact of life-centered financial planning. Discover how aligning your money with your values can help you create a better life with the time and money you have. Don't miss out on this episode filled with stories that will inspire and motivate you to take a more holistic approach to your financial future.

Life Transitions and Financial Lifelines: Navigating Your Financial FutureWelcome to "Your Life and Money," where financial planning goes beyond numbers and aligns with your values and priorities. Join hosts Brad Smith and Tim Borody as they share inspiring stories of real people who have achieved their goals through life-centered planning. In this episode, they delve into the various life transitions individuals go through and discuss the importance of financial preparedness.Key Points Covered in the Episode:Understanding the significance of life transitions and their financial implicationsExploring the Financial Lifelines tool, which categorizes transitions into six key areasHighlighting family transitions such as marriage, divorce, having children, and empty nestersDiscussing health-related transitions, including caring for aging parents and managing retirement expensesExploring one-off financial transitions like significant losses, inheritances, and major purchasesEmphasizing the importance of aligning financial plans with personal values and prioritiesProviding peace of mind and financial confidence through life-centered planningJoin Brad and Tim as they offer expert insights, practical advice, and stories that showcase the power of aligning your financial life with your goals and dreams. Discover how mapping out your life transitions with Financial Lifelines can bring clarity and confidence to your financial future. Don't miss this episode packed with valuable insights and actionable strategies.Stay tuned for more episodes that empower you to create a fulfilling life while achieving financial success.

Join Brad Smith and Tim Borody on "Your Life and Money" as they explore the complexities of financial planning and how it intersects with personal growth. Discover practical insights and expert advice to gain clarity, contentment, and fulfillment in your financial decisions.Understand a life planner: Recap the purpose of the life center planner hat and how it brings structure to your financial choices.Navigate conflicting financial goals: Explore the challenges of managing financial planning and cash flow while balancing conflicting objectives.The bucket demonstration: Learn a visualization technique to identify and categorize your cash flow sources, shedding light on factors that shape your financial journey.Overlooked life transitions: Recognize the importance of considering the financial implications of major life changes, such as retirement or education, and their impact on your long-term financial plan.Striking a balance: Find equilibrium between short-term needs and long-term savings, aligning your financial goals with your desired quality of life.Embrace "just enough": Challenge the notion of accumulating excessive wealth and discover the fulfillment that comes from striking the right balance.Gain clarity and contentment: Experience how guidance provides clarity, both visually and emotionally, as you plan for the future.

In this episode of "Your Life and Money," Brad Smith and Tim Borody discuss the concept of life-centered planning with Mitch Anthony, the co-founder of Life-Centered Planners and Return on Life Advisors. Life-centered planning is a new approach to financial planning that focuses on helping individuals achieve their goals and live a fulfilling life, rather than simply accumulating wealth.Anthony argues that traditional retirement planning is outdated and no longer meets the needs of most people. Life-centered planning takes a holistic approach to financial planning. It considers all of the factors that are important to an individual, such as their values, goals, and priorities. It also helps individuals develop a plan that is flexible enough to adapt to changes in their lives.Here are some additional pieces covered in the episodeExplore the importance of planning for retirement on your own terms.Uncover the realities and challenges faced during retirement transitions.Recognize the need for active engagement and purpose in retirement.Discover the importance of finding fulfillment beyond a leisurely beach chair lifestyle.Understand that life transitions occur throughout life, not just during retirement

Hosts Brad Smith and Tim Borody discuss the concept of life-centered planning and how it differs from traditional retirement planning. They emphasize the importance of focusing on what is truly important to individuals rather than just a financial number. They also highlight the shift in mindset towards enjoying life more along the way rather than solely focusing on retiring at a certain age. Through sharing stories and insights, they aim to help listeners understand the benefits of life-centered planning.Life-centered planning focuses on what is truly important to individuals and their unique goals and aspirations.It is important to take control of the things that can be controlled rather than solely focusing on the things that cannot be controlled.The traditional idea of retiring at a certain age is shifting towards a more flexible and enjoyable approach to life.Enjoying life along the way is just as important as saving for retirement.Life-centered planning can help individuals live a more fulfilling life while also achieving financial security.