Think Smart with TMFG

Ep.326 The Biggest Concerns For Soon-To-Be Retirees.

This Think Smart with TMFG episode, hosted by Mike Connon and Carlo Cansino, Financial Advisors at The McClelland Financial Group of Assante Wealth Management, explores the top concerns Canadians face as they approach retirement. The hosts highlight the challenges of balancing financial security, health needs, and market uncertainty as retirement gets closer.

Key Takeaways

• Healthcare Costs: Many retirees worry about rising healthcare expenses and whether government benefits will be enough to cover long-term care needs.

• Outliving Savings: A major fear is running out of money, especially with longer lifespans and unpredictable expenses in retirement.

• Market Volatility: Concerns over potential market corrections can create uncertainty about whether investment portfolios will sustain income over time.

• Balancing Lifestyle & Security: Retirees struggle between enjoying their savings now and preserving enough for the future.

Final Insight
Retirement planning is not just about saving enough, but about preparing for uncertainties. With proper financial guidance and a long-term plan, retirees can navigate healthcare costs, market changes, and longevity risks with more confidence and peace of mind.

Episode 325: AI - Good or Evil?

This Think Smart with TMFG episode, hosted by Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Wealth Management, explores the rapid growth of artificial intelligence (AI), especially ChatGPT. They discuss how AI has expanded far beyond its initial perception as a student tool into healthcare, business, finance, and everyday life. While AI offers major benefits - such as medical advancements, efficiency in business, and productivity tools - it also presents risks including misinformation, over-reliance, job displacement, and mental health concerns. The hosts conclude that AI is a powerful tool, but human judgment remains essential to ensure it is used responsibly.

Key Takeaways

1. AI’s Growth: From early confusion around ChatGPT to now having over 800 million users, AI adoption has been rapid and widespread.

2. Applications Across Industries: AI plays roles in healthcare (disease detection), business (inventory management, robotics), transportation (self-driving and park assist), and finance (portfolio monitoring and client tools).

3. Productivity Gains: AI assists with writing, research, meeting summaries, and routine business tasks, freeing time for higher-value work.

4. Risks & Concerns:

   • AI can reinforce harmful ideas rather than provide sound advice.

   • Potential misuse in misinformation, surveillance, or weaponization.

   • Risk of job loss if displaced workers aren’t transitioned into meaningful new roles.

   • Mental health concerns when individuals rely on AI for guidance.

5. Best vs. Worst Case Scenarios:

   • Best: AI enhances healthcare, education, science, climate solutions, and relieves humans from repetitive work.

   • Worst: AI fuels misinformation, job loss, inequality, and loss of reality through deepfakes and false content.

6. Final Insight: AI is a tool—its impact depends on how responsibly humans use it. Critical thinking and human oversight are irreplaceable.

 

Episode 324: Smarter Ways to Give Back

This episode of Think Smart with TMFG — hosted by Mike Connon with guest Carlo Cansino — explains practical strategies for charitable giving in Canada. They cover giving cash, donating securities to avoid capital gains tax, naming charities as beneficiaries of insurance and RRSP/RRIFs, and using donor-advised funds to create a flexible, tax-efficient legacy.

Learn about tax receipts, tax-free growth inside donor-advised funds, minimums and annual distribution rules, and how to time donations in high-income years to increase impact.

Episode 323: Avoiding Chaos: Protecting Your Legacy Before Its Too Late

Join Mike Connon and Carlo Cansino, Senior Financial Advisors at The McClelland Financial Group of Assante Capital Management Ltd., as they take a closer look at the essentials of estate planning for Canadians. In this episode, they break down what probate is, how provincial probate fees work, and the common strategies to minimize those costs — from beneficiary designations and joint accounts to the use of insurance.

Mike and Carlo also explain the tax rules that apply at death, how spousal rollovers can defer taxes, and when wills or trusts may be the right solution. They emphasize the importance of aligning your estate strategy with your personal situation, and why clear, accurate beneficiary designations can make all the difference.

Blending straightforward explanations with practical financial insight, this episode helps Canadians understand how to avoid costly mistakes in estate planning. Whether you have a simple estate or a more complex one, Mike and Carlo share key considerations and encourage you to seek professional guidance to ensure your wishes are carried out effectively.

Episode 322: Lies They Told Us

Join Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Capital Management Ltd., as they take a closer look at misleading advertising and how it can shape — and sometimes distort — financial decisions. In this episode, they break down common marketing claims, from active investment fund promises and the old “Freedom 55” dream to product hype like miracle toning shoes, “clean diesel” campaigns, and even the way coolers were sold as lifestyle upgrades.

Mike and John explain how advertisers often gloss over risks, exaggerate potential benefits, or disguise hidden costs. They highlight why these tactics can be so persuasive, the real impact they can have on investors and consumers, and how to spot the red flags in everyday ads.

Blending real-world examples with practical financial insight, this episode encourages Canadians to think critically about the messages they see and hear. Whether you’re investing, saving for retirement, or simply making everyday purchases, Mike and John share strategies to help you cut through the noise and make informed decisions.

Episode 321: Renting vs. Buying: The Money Mistakes Canadians Can’t Afford to Make

Join Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Capital Management Ltd., as they unpack one of the biggest financial debates Canadians face: renting versus buying a home. In this episode, they break down the real investment benefits of real estate—covering tax advantages, leverage opportunities, and what typical long-term returns actually look like.

Mike and John provide clear guidance tailored to three key life stages. For those 18–30, they highlight the risks young buyers face and why renting might sometimes be the smarter move. For ages 30–70, they discuss the stability and family security that come with homeownership. And for retirees 70+, they tackle the liquidity concerns and financial trade-offs of staying in—or selling—your home.

Blending professional insight with practical advice, this episode offers a balanced perspective to help you make the right decision at every stage of life. Whether you’re saving for your first place, raising a family, or considering downsizing in retirement, Mike and John share the strategies you need to confidently navigate the rent vs. buy decision.

Episode 320: Legacy in the Living Years

Join Mike Connon and John Iaconetti, Senior Financial Advisors at The McClelland Financial Group of Assante Capital Management Ltd., as they unpack the complexities of inheritance planning. In this episode, they explore how to prepare your children to responsibly manage the wealth they may inherit—focusing on the importance of building strong financial habits early in life.

From using trusts to hosting purposeful family meetings, they share actionable strategies to protect your legacy and ensure a smooth transfer of wealth across generations. Along the way, you'll hear timeless lessons from thought leaders like Warren Buffett, plus practical advice to help you avoid the common pitfalls of generational wealth.

Whether you're planning your estate or thinking ahead for your family’s financial future, this episode offers essential insights to guide the way.

Episode 319: The Truth Behind Credit Cards: Part 2

In this episode of "Think Smart with TMFG," hosts Mike Connon and Financial Advisor, John Iacanetti at The McClelland Financial Group of Assante Capital Management Ltd., dive deeper into the world of credit cards—an everyday financial tool that’s often misunderstood.

Building on their previous discussion, they explore practical strategies for effective credit card management, offering listeners actionable tips to maximize benefits while avoiding common mistakes. 

Learn how to maintain a healthy credit balance, steer clear of pitfalls like carrying unpaid balances and using cash advances, and make the most of your rewards programs. 

John also shares his personal experience navigating credit card debt, shedding light on how disciplined habits and smart usage can make a real difference. 

They cover the many perks of credit cards—fraud protection, extended warranties, and convenience—while offering key advice on interest rates, automatic payments, and subscription management. 

Whether you're new to credit or looking to sharpen your approach, this episode is full of valuable insights to help you use credit cards wisely and strengthen your financial well-being. 

Episode 318: The Truth Behind Credit Cards

In this episode of Think Smart with TMFG, Mike Connon and Senior Financial Advisor at The McClelland Financial Group of Assante Capital Management Ltd., John Iaconetti dive into the often-overlooked complexities of credit cards — a modern financial tool that’s both essential and potentially risky. They unpack the benefits, from building credit history to maximizing rewards, while offering a clear-eyed look at common pitfalls like high interest rates and overspending. You’ll also learn how credit card companies really operate, debunk popular myths about credit utilization, and get practical tips for choosing the right card to fit your lifestyle and financial goals.

Episode 317: Too Many Hands in the Pot: The Hidden Cost of Middlemen

Welcome to another episode of Think Smart with TMFG.

In this episode, host Mike Connon is joined by John Iaconetti, Senior Financial Advisor at The McClelland Financial Group of Assante Capital Management Ltd., for an insightful conversation on the evolving role of middlemen across industries.

From construction and banking to retail and beyond, they explore how intermediaries impact costs, efficiency, and your bottom line—drawing from both personal stories and professional experience.

You'll walk away with practical tips to reduce the layers between you and the products or services you need—whether you're planning a renovation, buying a car, or grocery shopping. Understanding how middlemen operate can help you make smarter, more cost-effective financial decisions.