Episodes
Thursday Sep 14, 2023
Episode 225: Big Tech Predictions 2023 and Beyond
Thursday Sep 14, 2023
Thursday Sep 14, 2023
How is technology affecting your everyday life and what should we expect to see in the future? Today on ThinkSmart Senior Financial Advisors Rob McClelland and Mike Connon discuss tech pundit Benedict Evans' 2023 big tech review.
(01:34): What is web 3?
(02:30): It’s not just you cryptocurrency is a very confusing subject.
(03:18): Keeping big business and government out of everything sounds good right?
(06:13): Where we came from in the computing world
(06:55): How computing works today
(07:28): Decentralization, good or bad?
(13:33): Convenience is causing us to choose other means of interacting with the real world
(16:03): Start-ups vs. big companies
Wednesday Sep 06, 2023
Episode 224: RRSPs Are a Big Marketing Gimmick
Wednesday Sep 06, 2023
Wednesday Sep 06, 2023
We came across an article that stated, "RRSPs are a big marketing gimmick." Today on, ThinkSmart Senior Financial Advisors Rob McClelland and Mike Connon take a closer look at this statement to weigh the pros and cons of RRSPs as we know them.
(01:20): RRSP season now vs. 25 years ago
(01:48): RRSPs vs. Pensions
(03:58): Tax savings with your RRSP
(04:49): Is it really a gimmick?
(06:27): What's the ideal time to make your RRSP contribution?
(07:17): Dollar-cost averaging your contributions.
(08:13): TFSAs vs. RRSPs
(12:05): So, is a TFSA still a valuable account?
(13:02): How do you find the right mix between the two?
(15:17): First Home Savings Account
Thursday Aug 31, 2023
Episode 223: All the Financial Mistakes We Have Made Over the Years
Thursday Aug 31, 2023
Thursday Aug 31, 2023
You might be surprised to hear it, but we make mistakes too. Today on ThinkSmart, Senior Financial Advisors Rob McClelland and Mike Connon discuss some of the mistakes they have made in their personal and professional finances and the big lessons they have learned as a result.
Key Points from this Episode:
(01:36): Rob’s investment mistakes
(06:28): Mike’s financial mistakes
(08:12): Business mistakes
Thursday Aug 24, 2023
Episode 222: Delegation: How It Can Help You Achieve More Out of Life
Thursday Aug 24, 2023
Thursday Aug 24, 2023
Today on ThinkSmart, Senior Financial Advisors Rob McClelland and Mike Connon discuss the value of delegation and recognizing your unique ability. Also, learn what is happening around our office in terms of delegation and expansion.
(00:34): How to make the most of your time
(04:36): How delegation has enabled us to be better Advisors
(07:14): Why do some people refuse to delegate?
(08:48): What are the advantages of delegation?
(09:52): Looking for your unique ability
(11:33): What’s happening at the office in terms of delegation and expansion?
Thursday Aug 10, 2023
Thursday Aug 10, 2023
Sometimes predictions and forecasts can be useful in financial planning. Listen to ThinkSmart with Senior Financial Advisors Rob McClelland and Mike Connon today to see when and how to use them well.
(07:33): Predictions and forecasts can be important in finance
(08:13): The markets are unpredictable
(09:43): Short-term predictions
(10:06): How do we use forecasting?
(12:17): Inflation trends
Thursday Aug 03, 2023
Episode 220: Moving Money is Not Saving Money
Thursday Aug 03, 2023
Thursday Aug 03, 2023
Are you actually saving money or are you living beyond your means? Today on ThinkSmart, Senior Financial Advisors Rob McClelland and Mike Connon discuss the pros and cons of various financial products and what successful debt management should look like.
(00:39): How to successfully improve your net worth
(02:56): How to reduce your debt
(06:56): Debt is debt
(08:58): RSP
(09:49): TFSA
(10:15): FHSP
(10:39): Open accounts
(10:57): Corporate accounts
(11:24): RESPs
(11:42): Registered Disability Savings Plan
(12:23): High-Interest Savings Account
(12:47): Discipline can be hard, make it easier on yourself
(14:12): In-kind contributions and moving money
(16:26): The best ways to save
Thursday Jul 27, 2023
Episode 219: Investing is Not Gambling
Thursday Jul 27, 2023
Thursday Jul 27, 2023
When our Canadian heroes are peddling sports gambling has Canada allowed gambling to go too far? Today on ThinkSmart, Senior Financial Advisors Rob McClelland and Mike Connon take a deeper look at what gambling might be doing to our country and our kids.
(01:13): Our Canadian heroes are promoting gambling?
(04:22): The prevalence of Internet gambling
(05:12): Sports gambling
(07:47): The risks of online gambling
(09:11): How does gambling relate to investing?
(10:19): What’s become of the Robo-advisor?
Thursday Jul 20, 2023
Episode 218: How to Avoid Getting Audited by the CRA
Thursday Jul 20, 2023
Thursday Jul 20, 2023
No one ever expects to get audited by the CRA. Today on ThinkSmart Senior Financial Advisors Rob McClelland and Mike Connon walk you through the best practices to avoid a CRA audit and how best to handle it if you do.
(00:23): Why do people get audited?
(01:35): What we do to ensure you don’t get audited
(03:03): Why you could be at risk too
(03:56): False alarms
(04:27): The difference between CRA and the IRS
(08:20): How do most people fare after an audit?
(09:27): Suggestions on how to avoid an audit
(10:36): Why making changes can get you flagged
(14:15): Don’t make it easy for the CRA to single you out
Thursday Jul 13, 2023
Thursday Jul 13, 2023
Can AI be used to stock pick? What might you be losing out on if you have structured investments and what conflicts of interest do the big banks face when helping you choose financial products? This and more today on ThinkSmart with Senior Financial Advisors Rob McClelland and Mike Connon.
(00:50): Can ChatGPT be used to stock pick?
(03:24): What did ChatGPT have to say for itself?
(04:28): Structured investments, are they the dream investment?
(05:44): What are you missing out on with structured investments?
(06:49): Structured investments are still commission based
(07:09): The big banks and conflicts of interest
Thursday Jul 06, 2023
Episode 216: How Often Does Factor Investing Work?
Thursday Jul 06, 2023
Thursday Jul 06, 2023
We've been using factor investing for over 19 years, discover why. Today on ThinkSmart Senior Financial Advisors Rob McClelland and Mike Connon do a deep dive into factor investing. What they are, how they work, and why we believe they are the best way to invest your money.
(01:19): How to look at factors
(01:46): Fighting FOMO
(02:05): Deep dive on the 3 factor
(03:22): Small Cap vs. Large Cap
(05:02): What does switching investment strategies cost you?
(05:25): Profitability Factor
(06:47): Value vs. Growth
(09:09): Looking at a value, profitability, and small-cap tilted portfolio
(09:52): The disadvantage of “indexing”