Think Smart with TMFG

Episode 244: Owning a Second Property in Retirement

In this enlightening episode of 'ThinkSmart with TMFG', hosts Rob McClelland and Mike Connon of Assante Capital Management lead an in-depth discussion about the financial implications of owning a second personal use property, particularly cottages. They share their personal experiences, benefits, challenges, financial obligations, and not-so-obvious realities connected with owning a vacation home during retirement.

Join in as Mike and Rob shed light on the changing dynamic of property usage as one's life stage evolves, the associated annual costs, the investment considerations and more. They address the illusion of 'ease' that can captivate potential owners, stressing on the financial commitments that are often underestimated.

Dive into detailed discussions about hidden expenses related to cottage ownership, from harsh weather maintenance to managing wildlife. The hosts also bring up vital topics like tax considerations, borrowing costs, and non-deductible expenses, underlining the importance of a balanced and informed decision.

Touching on added complexities of foreign property ownership, the conversation addresses 'toy' ownership costs, fluctuating maintenance costs, local tax laws, inheritance tax, and property transfer complexities. Despite potential pitfalls and challenges, for many the dream of owning a cottage remains unbeaten given the memories and precious family time it provides.

Concluding the episode, Mike and Rob underscore the importance of detailed planning and readiness for anyone considering owning a second property or cottage. This episode aims to provide a comprehensive and realistic picture of the financial landscape associated with owning a vacation property.

Episode 243: 6 Ways to Improve the Probability of a Successful Retirement

Saving 10% of your income is just not enough. Senior Financial Advisors Rob McClelland and Mike Connon discuss 6 foolproof ways to ensure a successful retirement.

Episode 242: 2023 Financial Year in Review: What Went Wrong?

Join Senior Financial Advisors Rob McClelland and Mike Connon for their critical in-depth look at what went wrong in 2023 and its impact on the global market.

Episode 241: Greatest Investment Quotes of All Time Part II

In this episode of Think Smart with TMFG, your hosts Senior Financial Advisors Rob McClelland and Mike Connon discuss some of the great investment quotes of all time. They share quotes from Isaac Newton, Nick Murray, Peter Lynch, and others, highlighting the importance of investor behavior, the dangers of complex investments, and the need for calculated risks.

Episode 240: Pet Peeves and Things That Keep Mike Up at Night

Do you sometimes feel like the constant onslaught of fees and charges is never-ending? It's like death by a thousand papercuts. Banking fees, credit card fees, bag fees, and disposal charges. Is there anything that doesn't have an extra cost these days?

Join your hosts, Senior Financial Advisors Rob McClelland and Mike Connon, as they shed some light on the darker corners of the world of overcharging.

Episode 239: 10 Things You Absolutely Must Stop Doing

In this episode of ThinkSmart with TMFG, your hosts, Senior Financial Advisors Rob McClelland and Mike Connon discuss 10 things that people need to stop doing in order to improve their financial situation. Listen today to find out more.

Episode 238: The Future State of Real Estate in Canada

Find out the real state of real estate in Canada. Various factors impact real estate prices, including interest rates, economic conditions, population growth, and speculation. Additionally, new government policies on mortgage renewals and the qualification process are playing a role in the real estate landscape. Is real estate the right or wrong investment decision? Learn more today on ThinkSmart with TMFG.

Episode 237: Everything in Life is a Bell Curve, Even Your Finances

You might be surprised that many things we take for granted are graded according to a bell curve. This concept also applies to the financial world, including stock returns, interest rate changes, asset prices, and credit scores. Understanding these distributions can help manage expectations and avoid surprises. Find out more today on ThinkSmart with TMFG.

Episode 236: Things Are Really Bad Out There: Consumer confidence is at its lowest level in 52 years.

Consumer confidence is at its lowest level in 52 years. But that doesn't mean it's all bad news for investors. Join Senior Financial Advisors Rob McClelland and Mike Connon as they discuss consumer confidence and its impact on the stock market.
They take you through historical data and market valuations to show that expensive market valuations often precede market crashes, while lower valuations can present buying opportunities.
Don't miss out on potential market gains by staying in low-yield investments like GICs. Consider the bigger picture, and don't let consumer sentiment dictate your investment decisions.

Episode 235: The Greatest Investment Quotes that Every Investor Should Know

In this episode of ThinkSmart, Financial Advisors Rob McClelland and Mike Connon discuss some of the most popular quotes from the investment world.
Wall Street's tendency to pedal hope doesn't help investors in their financial success. Investor behaviour is a far more critical indicator of success than the latest press release.