Think Smart with TMFG

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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Episode 334: Before You Invest, Ask Yourself These Questions

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, dive into practical strategies for Canadians who want to invest smarter without getting caught up in market hype. They emphasize that long-term success isn’t about chasing the latest hot stock or sector; it’s about having a clear, goal-based financial plan that guides every decision.

They break down why diversification across sectors, asset classes, and geographic regions is essential, and how regular portfolio rebalancing helps you stay on track and maintain your risk tolerance. Mike and Carlo also discuss common investor pitfalls, from fear of missing out to reacting emotionally to short-term market swings and explain how a disciplined plan helps you stay focused during volatile times.

Finally, they share insights from research showing that investors who adhere to written, goal-based plans are significantly more likely to achieve their long-term objectives.

For more in-depth guidance on how investor behaviour impacts wealth, check out Tyler Robertson’s Financial Advisor at TMFG, article on our website: Stay Out of Your Own Way To Be a Successful Investor

If you want help creating a plan that aligns with your goals and keeps you on track through market fluctuations, request a meeting here: https://tmfg.ca/schedule/

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Episode 333: Retiring Smarter - What’s New for Canadian Seniors in 2025

This Think Smart with TMFG episode, hosted by Mike Connon and John Iaconetti, Financial Advisors of The McClelland Financial Group at Assante Capital Management, explores why retirement feels more challenging today and how inflation is affecting Canadians’ long-term financial plans.

Key Takeaways:

• Inflation is making retirement more expensive, and many retirees are having to adjust their plans because everyday costs continue to rise.

• People now believe they need to save much more, close to $1 million, to feel comfortable in retirement.

• Government benefits help, but don’t keep up, which means planning, the right investment mix, and smart withdrawal strategies are more important than ever.

In today’s economy, rising costs are a constant reality, not a temporary hurdle. The key to a successful retirement is preparing for the uncertainties of inflation and ensuring your plan can adapt as life changes.

Episode 332: Trading Beyond Borders - What Tariffs Mean for Smart Investors

This Think Smart with TMFG episode, hosted by Mike Connon and Carlo Cansino, Financial Advisors at The McClelland Financial Group of Assante Capital Management, explores how rising tariffs and trade tensions are reshaping Canada’s economy and global markets.

Key Takeaways:

• Canada sends 75% of its exports to the U.S., making it vulnerable to trade disruptions.

• Emerging markets, such as China and India, are becoming major economic players and presenting new opportunities for investors.

• A balanced portfolio with a home bias helps reduce currency risk and stay tax-efficient.

This episode highlights why TMFG encourages diversification in both trade and investing to remain resilient in a changing global economy.

Episode 331: The Advisor-for-Life Myth - It Takes a Team to Build Lifelong Wealth

This Think Smart with TMFG episode, hosted by Mike Connon and Carlo Cansino, Financial Advisors at The McClelland Financial Group of Assante Capital Management, dives into what they call “The Advisor for Life Conundrum.” Many clients hope to work with one trusted advisor for their entire financial journey, but how realistic is that when an advisor’s career may last 30 years and a client’s financial plan can span 50 or more?

Key Takeaways:

• Building lifelong trust means creating a consistent client experience, not just a single relationship.

• A strong advisory team ensures continuity even as individual advisors retire or transition.

• Professionalism, motivation, curiosity, and likability are core to maintaining lasting client confidence.

This episode highlights how TMFG focuses on delivering a seamless, high-quality advisory experience that stands the test of time, ensuring clients and their families are supported for generations.

Episode 330: The ChatGPT Illusion - Why AI Confidence Can Be Dangerous

This Think Smart with TMFG episode, hosted by Mike Connon and Carlo Cansino, Financial Advisors at The McClelland Financial Group of Assante Capital Management, shares insights from a recent AI-focused conference. They explore how tools like ChatGPT can be incredibly powerful, but only when used by experts. Just as using a heavy concrete saw without experience can be risky, relying on AI without proper guidance can lead to mistakes.

Key Takeaways:

• AI boosts efficiency but doesn't replace human judgment.

• Quick answers from AI can mislead if used without expertise.

• Professional insight ensures AI is used safely and effectively.

AI is fascinating, powerful, and sometimes unpredictable. This episode reflects on how tools like ChatGPT can amaze us, while also reminding us that experience and context still matter.