Think Smart with TMFG

Episode 344: Tax Canada Season - What Every Canadian Should Know Before Filing

Tax season has a way of making even the most organized Canadians feel like things are a bit out of control.

 

On this episode of Think Smart with TMFG, we walk through what actually matters for the 2026 tax season, from key filing deadlines and the slips to expect, to the deductions, credits, and common mistakes that can quietly cost people money each year.

We talk about why many Canadians end up overpaying, not because they did anything wrong, but because they didn’t know what to look for. We also cover what’s different for self-employed individuals, how staying organized throughout the year can make tax time easier, and why being strategic with RRSP contributions can have a bigger impact than simply trying to maximize them.

The goal isn’t to get everything perfect, it’s to stay informed, prepared, and intentional so you can avoid unnecessary stress and make better financial decisions.

Question for our listeners: What part of tax season makes you feel the most uncertain, knowing what to claim, staying organized, or worrying you missed something?

📌 If you’d like guidance that goes beyond just filing and helps you plan ahead, you can book a meeting with our team here: Schedule a meeting.

🎧 Click here to listen on YouTube.

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Episode 343: Stop Comparing Yourself - Here’s How It’s Hurting Your Finances

Can keeping up with everyone else really hurt your finances? The short answer: yes, more than most Canadians realize.

On this episode of Think Smart with TMFG, we analyze how rising costs and debt are pushing people to compare themselves to friends, coworkers, and what they see online. Those comparison-driven choices? They can lead to stress, overspending, and putting off important long-term planning.

We walk through real examples and practical tips on how budgeting, awareness, and informed decisions can help you take control of your money, avoid financial pitfalls, and make smarter moves for the future.

The takeaway is simple: focus on your financial growth, not what anyone else is doing. Planning well and sticking to disciplined habits is what really pays off.

Question for our listeners: Are comparisons affecting your spending, your career choices, or your long-term plans?

📌 If you want to make a plan that prioritizes your goals, book a meeting with our team here: Schedule a meeting. 

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Episode 342: AI and Canadian Jobs - Will Automation Replace Your Work?

AI isn’t coming; it’s already here. And the real question most Canadians are asking is: Is my job safe?

On this episode of Think Smart with TMFG, we talk about how AI is already showing up in Canadian workplaces and why the reality is much more nuanced than the headlines suggest.

We look at how technology has reshaped work throughout history, from farming and manufacturing to today’s knowledge economy, and why AI is more likely to change the nature of many jobs rather than simply wipe them out. We also discuss which roles may be more exposed to automation, why repetitive and routine tasks are at higher risk, and how factors like education, age, and adaptability affect long-term career resilience.

From a planning perspective, we share why learning to work with AI, instead of resisting it, can help you stay relevant, productive, and valuable as the labour market evolves. And we talk about why human skills like judgment, empathy, and behavioural guidance still matter deeply, especially in fields like healthcare, law, and financial advice.

The core message? AI isn’t “you versus the machine.” The future belongs to people who learn to work alongside AI and use it to enhance the value they bring to others.

Question for our listeners: Are you preparing your career and long-term plans for a world where AI plays a bigger role?

📌 If you’d like help thinking through how changes in your work could affect your financial plan, book a meeting with our team here: Schedule your meeting here.

🎧 Click here to listen on YouTube.

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Episode 341: When the Rules Change - Mark Carney’s Davos Speech and Canada’s Opportunity

As global economic dynamics continue to shift, understanding Canada’s role on the world stage is more important than ever.

In this episode of Think Smart with TMFG, Mike Connon and Carlo Cansino, Senior Financial Advisors at The McClelland Financial Group of CI Assante Wealth Management, discuss Mark Carney’s impactful speech at the World Economic Forum in Davos and why it captured global attention.

They break down how the traditional rules-based global order is changing, why trust and cooperation matter in economic systems, and what happens when countries stop playing by shared rules. The conversation highlights the growing role of “middle powers” like Canada and explains why Canada’s reputation as an honest trading partner, its educated workforce, and its diversity position it well in an evolving global landscape.

From an investment perspective, Mike and Carlo reinforce: global diversification remains essential. Rather than trying to predict which countries will succeed, a broadly diversified portfolio helps investors stay resilient through uncertainty.

The key takeaway? While global power is shifting, disciplined, diversified investing remains a strong foundation for long-term financial success.

Question for our listeners: Does your investment strategy reflect today’s changing global landscape?

📌 If you’d like help reviewing your portfolio, book a meeting with our team here: Schedule your meeting here.

🎧 Click here to listen on YouTube.

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Episode 340: Retiring as a Couple vs. Single, What’s the Real Difference?

With Valentine’s Day around the corner, it’s a good reminder that retirement planning isn’t one-size-fits-all. Whether you’re part of a couple, planning on your own, or navigating a life change, your strategy matters.

In this episode of Think Smart with TMFG, Mike Connon and Carlo Cansino, Senior Financial Advisors at CI Assante Wealth Management, discuss how retirement planning changes depending on your personal situation.

They explain why it’s a mistake to assume that income and expenses automatically scale down when someone is on their own. While couples often benefit from shared costs, income splitting, and built-in support systems, individuals planning independently, or those who may face changes later in life, need to think differently about taxes, cash flow, and long-term security.

Mike and Carlo walk through Canadian income and tax considerations, including how pension income splitting and Old Age Security (OAS) treatment can significantly affect after-tax income. They also discuss why many everyday expenses, such as housing, utilities, and travel, don’t decrease as much as people expect, regardless of household size.

Beyond the numbers, the conversation highlights real-life planning considerations: having support systems in place, preparing for healthcare needs, simplifying finances, and building flexibility into your plan. Whether you’re planning as a couple or on your own, understanding these differences can help you stay prepared for whatever life brings.

The key takeaway? A strong retirement plan adapts as your life evolves, and thinking ahead makes all the difference.

Question for our Listeners: Does your current plan account for both financial and lifestyle considerations?

📌 If you’d like help reviewing your retirement plan or adjusting your strategy, you can book a meeting with our team here: Schedule your meeting here.

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Episode 339: Invest or Pay Off Your Mortgage - What’s Smarter?

In this episode of Think Smart with TMFG, Mike Connon and Carlo Cansino, Senior Financial Advisors at The McClelland Financial Group of CI Assante Wealth Management, address a key question many Canadians are facing: If you receive a lump sum of money, is it smarter to pay down your mortgage or invest it?

The advisors explore the advantages of paying down debt, particularly in a higher interest rate environment. Paying off mortgage principal provides a guaranteed return equal to the interest you would otherwise pay, reduces financial stress, and improves cash flow, especially important as people approach retirement. They emphasize that retiring with minimal or no debt frees up income for living expenses without ongoing interest obligations.

They also discuss the benefits of investing the money, especially through tax-efficient accounts like TFSAs and RRSPs. Investing can produce returns that exceed mortgage interest over time, but returns are not guaranteed and depend on market performance and tax treatment. Mike and Carlo explain how different accounts and investment choices affect your after-tax outcome and why balancing risk and reward matters.

Finally, they recommend a hybrid strategy for many households, allocating some funds to reduce mortgage debt while investing the rest. This helps preserve liquidity, reduce long-term interest costs, and maintain growth potential. They also highlight concerning trends in Canadian household debt and caution against relying on your home as a financial plan.

Questions for our Listeners:

• If you received a significant lump sum of money, how would you balance paying down debt versus investing?

• Would a hybrid approach give you more confidence in your financial plan?

📌 For a deeper dive into this topic, read the article by advisor Gabriel Zitoli that expands on the insights discussed in today’s episode:

Invest or Pay Down Your Mortgage? Our Key Insights for Canadian Homeowners to Build Wealth Smarter by Gabriel Zitoli

If you’d like help reviewing your situation, goals, or strategy, you can book a meeting with our team here: Schedule your meeting here.

Click here to watch the full podcast episode on YouTube.

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Episode 338: Oil, Power, and Politics, Breaking Down the Venezuela Crisis

In this episode of Think Smart with TMFG, Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of CI Assante Wealth Management, focus on what has been happening in Venezuela and why global political headlines, especially those tied to oil, matter to Canadians and their investments.

The conversation examines Venezuela’s massive oil reserves, the impact of long-standing government corruption, and why recent U.S. involvement has garnered global attention. Along the way, the discussion explains why oil quality and refining costs play an important role in global energy markets, not just the size of the reserves.

Closer to home, the episode explores how these developments can affect Canada. Because Canadian oil is similar to Venezuela’s, changes in global supply and access can impact Canadian energy companies, market performance, and the broader economy.

At the same time, the episode reinforces an important investing principle: reacting to geopolitical headlines often does more harm than good. Political events are unpredictable, and short-term market moves rarely justify changing a long-term plan. Staying diversified and focused on long-term goals remains key during periods of uncertainty.

Questions for our Listeners:
Given the importance of energy to Canada, do you think global oil politics affect Canadian investors more than we tend to realize?

If you’d like to review your portfolio, discuss your long-term goals, or make sure your investment strategy still fits your situation, you can book a meeting with our team here: Schedule your meeting here.

Click here to watch the full podcast episode on YouTube.

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Episode 337: Top 5 Financial Moves Every Profitable Canadian Corporation Should Make

In this episode of Think Smart with TMFG, Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Capital Management, discuss when it makes sense for Canadian business owners to incorporate and what factors should drive that decision. They explain why there is no single income level that automatically signals incorporation, and why future growth, cash flow needs, and long-term goals matter more than a fixed dollar threshold.

They walk through 5 key considerations for growing businesses, including tax-efficient compensation strategies using salary versus dividends, managing risk through proper corporate structuring, and protecting the business with insurance. The discussion also covers investing excess cash inside a corporation, how Capital Dividend Accounts work, and how passive income can impact the small business deduction.

Finally, they emphasize the importance of maintaining accurate records, maximizing legitimate deductions, and planning for long-term corporate wealth and eventual exit strategies. Whether transitioning a business to family, selling it, or winding it down, they emphasize that early planning and professional advice are essential to building value and avoiding costly mistakes.

If you would like guidance on corporate planning or are considering incorporation for your situation, please schedule a meeting here: Schedule your meeting here.

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Episode 336: 5 Money Mistakes Retirees Make When They Don’t Have a Will

In this episode of Think Smart with TMFG, Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Capital Management, discuss common estate planning mistakes and practical strategies for Canadians. They explore why having a properly structured will, appointing executors, and setting up powers of attorney are critical for a smooth estate transfer and for protecting your family.

They also highlight the risks of dying without a will, including the government dictating how assets are distributed, potential family disputes, and delays caused by non-liquid assets, like cottages or other properties. They emphasize the importance of beneficiary designations, insurance strategies, and ensuring liquidity in your estate to manage taxes and unexpected costs efficiently.

Ultimately, they stress the importance of documenting decisions and communicating with family members to prevent ambiguity, safeguard relationships, and alleviate stress for loved ones. They explain that a will and a power of attorney are separate tools, each with specific roles, and that acting while in full capacity is essential to avoid future complications. Careful estate planning is not just about money; it’s about protecting your family, preserving your legacy, and ensuring peace of mind.

If you would like guidance on creating an estate plan tailored to your specific situation, please request a meeting here: Schedule your meeting here.

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Episode 335: Retire Ready - Top Questions Canadian Retirees Ask

In this episode of Think Smart with TMFG, Mike Connon and Carlo Cansino, Senior Financial Advisors at The McClelland Financial Group of Assante Capital Management, explore practical strategies for Canadians approaching retirement. They highlight the challenges many retirees face, including navigating pensions and government benefits, as well as planning for unexpected expenses.

Mike and Carlo discuss the decline of traditional defined benefit plans and emphasize the importance of supplementing public pensions, such as CPP and Old Age Security, with personal savings and tax-advantaged accounts, including RRSPs and TFSAs. They also explain how timing decisions, like deferring CPP or OAS, can significantly boost retirement income, and how sharing benefits with a spouse can help manage household taxes.

Unexpected costs are a common source of stress for retirees, including everything from home maintenance and condo assessments to healthcare expenses, such as dental work. Finally, they address the misconception that retirees should drastically reduce their equity exposure. Since inflation affects retirement expenses, maintaining growth-oriented investments is crucial to ensure your portfolio keeps pace over a long retirement horizon.

Ultimately, they emphasize that retirement planning is dynamic: your plan should evolve in response to life changes, while keeping you prepared for unforeseen expenses, thereby helping you retire with confidence and peace of mind.

If you want guidance on creating a retirement plan tailored to your goals, request a meeting here: Schedule your meeting here!

Read the article: "In Your 50s and Thinking About Retirement, What to Know” by Financial Advisor Ingrid Kucera at TMFG, and learn how to turn your retirement savings into a dependable income strategy that supports your long-term goals with confidence.

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