Think Smart with TMFG

Episode 202: Economic Predictions - Are They All They’re Cracked Up to Be?

This week we take an in-depth look at some of the predictions that came from 7 major Canadian financial institutions. We did the math and compared the predictions versus what is actually happening in the economy to see how close and how far off some of them are. 
 

Key Points from this Episode:

(01:02): What is the study of economics really?
(02:52): Prediction of GDP vs. actuals
(03:52): Prediction of inflation vs. actuals
(04:44): The government is planning to bring the consumer price index down no matter the cost
(04:59): Predictions about the unemployment rate and what’s actually happening in the market
(06:30): What's happening with the Bank of Canada rate?
(07:26): Interest rate hikes, how many should we expect?
(09:26): Will there be interest rate cuts?
(09:58): What are 10-year government bonds looking like?
(11:16): The Canadian dollar vs. the US dollar

Episode 201: Recession - Is It Coming?

Could we be headed for another recession? Find out today what the markers are for a typical recession and whether or not you should worry about what's might be on the horizon.

Key Points from this Episode:

(00:55): Why should advisors and investors, worry about recessions?
(01:35): What are the key indicators of a recession?
(03:50): The role of the media in creating panic.
(04:04): How long is the average recession?
(05:08): Why does the market start to go up when a recession is announced?
(07:24): What’s the difference between a recession and a retreat?
(07:48): History of recessions and how bad they were. 
(11:30): What have returns looked like following a recession?
(15:06): What to do if you are planning to retire and a recession is on its way?

Episode 200: 10 Creative Uses for Life Insurance

Life insurance? honestly, who wants to talk about it? But you might be very surprised to hear some unique ways to use life insurance to your benefit. Senior Financial Advisors Rob McClelland and Mike Connon review the strategies discussed in a recent Globe and Mail article on 10 Creative Uses for Life Insurance by Tim Cesnick.
 

Key Points from this Episode:

(02:30) 5, 10, and 20-year term insurance and how it works
(03:16) Using life insurance for retirement savings
(05:06) Funding for a specific purpose
(06:35) Insurance to equalize inheritance 
(07:42) Paying off debts when you die
(09:30) Covering taxes owing when you die
(10:40) Eliminating taxes on death
(12:21) Donating to charity
(13:07) Funding a buy-sell agreement

Episode 199: An Integrated Portfolio and Financial Plan Are the Key to Success

Your financial plan and your portfolio should be managed in tandem by a Financial Advisor. So why go it on your own? Only 5% of professional money managers beat the market 20 years out. The investment choices you make today can affect your entire family for decades or even a lifetime. Listen here to find out how you can ensure your financial future is successful.
 

Key Points from this Episode:

(01:55): Financial product research results
(06:25): Economic cycles
(07:22): Why do you need to integrate the portfolio and the financial plan?
(08:02): Taxation choices
(09:25): Staying on top of all the changes yearly; income, taxes, and estate

Episode 198: Unique Ways to Increase Your Retirement Income

You would think that most sources of retirement income are taxed at relatively the same rate but you would be wrong. Today on ThinkSmart Senior Financial Advisors Rob McClelland and Mike Connon compare the various sources of potential income from capital gains to interest income, dividends, how they fare against the Canadian tax system, and which you might be able to use to your advantage.

Key Points from this Episode:

(01:45): Comparison of incomes

(02:53): Capital gains
(03:53): Dividend Income
(04:40): Salary, Money Market, GICs, Rental Properties

 

Episode 197: The Greatest Portfolio of All time

Financial Advisors Rob McClelland and Mike Connon discuss a recent in-depth study on the markets and rolling returns from the Advisor publication Horsesmouth. This fascinating study spans five decades. Listen today to find out what the "GOAT" (greatest of all time) portfolios is.

(02:52): The all-cash portfolio and how it fares.
(04:10): The half-cash, half-bond portfolio.
(06:20): The 60/40 portfolio.
(06:55): The diversified portfolio.
(11:20): Evidence of equity returns.

Episode 196: 10 Attributes of Great Financial Advisors

Not all Financial Advisors are created equally. Listen here to find out what 10 most important qualities to look for in your Financial Advisor; some may be a bit of a surprise.

 

Key Points from this Episode:

(00:54): The Advisor’s mission
(02:37): What clients are you able to work with successfully?
(04:09): How important is authenticity in an Advisor?
(05:40): How does intellectual curiosity help make a good Advisor?
(06:41): Why your Advisor should always be asking you questions.
(08:27): Red Light Green Light for clients and Advisors?
(09:10): What is 10X?
(10:02): Why is growth in the business crucial?
(13:01): Why discipline is an important trait in an Advisor?

Episode 195: Why is it So Difficult to Beat the Market?

It doesn't seem like it should be that hard to beat the market. The trouble is that many more factors play a role in your investment success than you realize. There are over 400 billion dollars in stock trades a day all with one objective; to make money. Professionals and laymen alike are all working with bits of information trying to give their best guess at how things will turn out. Listen today to find out why it’s next to impossible to beat the market every time.

 

Key Points from this Episode:

[00:02:00] Interesting info on how stock pricing works

[00:02:30] How does dollar-weighted knowledge work?  

[00:02:30] Professional market knowledge does it measure up?

[00:05:00] So why is it so difficult to beat the market?

[00:08:25] Evidence of mutual funds and ETF successes and failures.

Episode 194: Cash Solutions

Why your cash should be making money for you and not for your bank.

While interest rate hikes can be daunting for those who are carrying large amounts of debt they can be a boon to those who are holding funds in cash. Today on ThinkSmart Financial Advisors Rob McClelland and Mike Connon go in-depth on the topic of cash holdings. They will discuss various products from high-interest savings accounts, and GICs, to money market funds, short-term bonds, and more. What are the advantages and disadvantages of each, and how you might capture that extra interest that belongs to you? 

Episode 193: It’s Time to Travel Again!

Our best practices for travel in 2023. How are things looking out there in the travel world? Listen today to hear our advice and feedback from our recent travels abroad on everything from flights, to hotels, and rental cars.