Think Smart with TMFG

Episode 89: Robo - Advisors: Are They Really The Future of Investing?

No one would argue that AI is not doing miraculous things in all areas of our modern lives. We see an elimination of errors, and lengthy, monotonous tasks are often completed at record speed and with great efficiency. Still, they are missing one thing - the human element. Robo-advisors have become very good at some basic aspects of portfolio management but lack a certain amount of foresight. They cannot wholly comprehend a client's financial situation's variables, personalities, or complexity. Today on ThinkSmart, we discuss both the pros and cons of Robo-Advisors.

Episode 88: Dangers in the Market

There are sharks in the water that will never change. However, you can always rely on the efficiency of the financial market. Nowadays, when news is disseminated instantaneously, it's hard to keep track of any given situation. Rob and Mike discuss the beauty of the free market system and how it remains constant through time.

Episode 87: Financial Evil #4: Solutions For Avoiding Financial Indecency

The media can be a veritable lion's den. Every agency, publication, newspaper, commercial, or newsfeed is grasping for your view and your time. Each one working harder than the next to sell you their idea. In this minefield of information, how do you understand what to do and what information is rational? As an investor, the feat is practically impossible. Statistics manipulate, factoids are deceptive. What can you do to avoid being a sucker for financial proselytization? Today on ThinkSmart, learn how to navigate financial indecency.

 

Episode 86: Financial Evil #4: Financial Indecency

We all know the media's impact on our mindset, and our decision-making is huge, but how does it affect our thought process when making financial decisions? It's important to remember that a large part of the media's job is to entertain. It's not always about getting you all the facts but more often about keeping you engaged long enough to see the advertising or the commercial. 

Not surprisingly, people turn to important people for advice, such as doctors, lawyers, friends, and family. If we look at the data on who people most often get alternative financial advice from, the results are surprising but do you see a teacher about your broken arm?

We discuss how armchair advice can do more harm than good and we take a look into this not so uncommon idea of Financial Pornography.

This and more today on ThinkSmart!

 

Episode 84: Financial Evils Part 6: Solutions for Eliminating Debt

Today we discuss how we can eliminate one of the biggest evils in our financial lives; debt.  It can be as simple as creating a budget, paying yourself first and looking at your options when it comes to mortgage debt.  Rob and Mike go into the details of these and many more strategies to help you get on the right track with your savings and expenses.

This and More Today on Think Smart!

Episode 83: - Financial Evils Part 5 The 3rd Financial Evil: Debt

The credit market in Canada is now 28 billion dollars. 50% of all Canadians are facing insolvency. How are we functioning with all this debt and what are some of the common and most detrimental mistakes that lead us into this inescapable prison? What is the connection between investing and debt? Discover this and more today on ThinkSmart!

Episode 82: Financial Evils Part 4: 10 Strategies to Reduce Your Tax Bill

The ins and outs of TFSAs. How to tax allocate your portfolio from interest income from your GICs. How to use REITS to your advantage. Where should your fixed investments and equities live? The tax implications of active investing vs passive investing. How and when to trigger a capital loss. This and More today on Think Smart.

Episode 81: Financial Evils Part 3: Taxes

 

There is no question, that taxes are difficult to understand, and most people want to fall asleep the minute you mention them. However, many different types of taxation play a significant part in your finances. The list seems endless; from the little-known hydro tax to land transfer and investment taxes. Learn about marginal tax rates, average tax, and interest income versus dividend income.
 

This and More Today on ThinkSmart!

Episode 80: Financial Evils Part 2: 10 Strategies to Overcome Inflation

Inflation plays an enormous role in the stability of your financial future. Adjustments and best practices are required to keep your portfolio in check with the pace of inflation. Know how you are invested and that you will have peace of mind in retirement. 

Learn This and More Today on Think Smart!

Episode 79: Financial Evils Part 1: Inflation

Inflation is that incremental little evil that sneaks up on you when you are not looking. Inflation rates seem to have a mind all of their own in many ways. Why do we see this confounding lack of consistency in many areas; from housing to automobiles? Is it simply luxury items that fall victim to this unscrupulous rate of increase or is it more prevalent than we think? Are you certain that the way you invest your money will be able to keep up?
 

We explore this and more today on ThinkSmart!