Millennial Money Canada (Guillaume Girard & Sam Lichtman)
Explorez tous les épisodes de Millennial Money Canada
| Date | Titre | Durée | |
|---|---|---|---|
| 06 Mar 2025 | Ep.015: How to Find a Financial Advisor in Canada with Jason Watt | 00:57:07 | |
In this episode of the Millennial Money podcast, Sam Lichtman speaks with Jason Watt about the complexities of finding a financial advisor, the importance of trust, and the challenges faced by underrepresented demographics in accessing financial advice. They discuss the advice gap in Canada, the role of social media in connecting clients with advisors, and the ethical considerations in financial planning. The conversation also covers the questions clients should ask potential advisors and the nuances of fiduciary standards in Canada. Jason Watt and Sam Lichtman delve into the complexities of fiduciary obligations in financial planning, contrasting the suitability standard with fiduciary standards. They discuss the importance of client education, identifying red flags in financial advisory practices, and the value of personalized financial planning. The conversation also touches on the evolving role of financial advisors in a landscape increasingly dominated by low-cost investment options, emphasizing the need for advisors to provide value beyond mere investment selection.
Takeaways Trust is essential in the financial advisory relationship. The advice gap exists for underrepresented demographics. Clients should ask about an advisor's process and experience. Cookie-cutter approaches to financial advice are problematic. Fiduciary standards are not universally applied in Canada. Behavioral coaching is a key value of financial advisors. Avoiding big mistakes is a primary goal of financial planning. The financial planning process should align with client values. Advisors should be transparent about conflicts of interest.
Work with Millen Wealth Advisors Book an intro meeting: https://www.mwadvisors.ca/ Self-paced tax and investing course for business owners: https://courses.mwadvisors.ca/
Follow Sam and Guillaume on Social Media Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Instagram: https://www.instagram.com/financialplannergui/ Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/ Sam LinkedIn: https://www.linkedin.com/in/sam-lichtman/
Keywords Financial advice, financial advisor, trust, advice gap, fiduciary, ethical standards, client relationships, behavioral coaching, financial planning, underrepresented demographics
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| 20 Feb 2025 | Ep.013: Five Money Habits of Wealthy Millennials | 01:06:43 | |
Summary In this episode, Guillaume Girard and Sam Lichtman discuss the financial habits of wealthy millennials, focusing on how they achieve their first million and the strategies they employ to maintain and grow their wealth. The conversation covers three common paths to wealth, including entrepreneurship, real estate, and stock compensation. They also delve into the importance of risk management, seeking professional advice, developing good money habits, prioritizing health, and continuously striving for new goals.
Topics Covered in this Episode: 00:00 Introduction to Wealth Building for Millennials 09:25 Three Paths to the First Million 20:45 Real Estate: A Controversial Wealth Strategy 28:37 Stock Compensation: A Modern Wealth Builder 31:49 Maintaining and Growing Wealth After Reaching a Million 34:38 The Power of Passive Income and Growth 35:41 The Importance of Professional Financial Advice 36:59 Tax Planning: A Key to Financial Success 39:33 Strategies for Real Estate Investors 44:11 Developing Good Money Habits 50:38 The Correlation Between Health and Wealth 01:01:32 Pursuing the Next Milestone
🤝 Work with Millen Wealth Advisors Book a Financial Review Meeting: https://courses.mwadvisors.ca/FinancialAdvice
🔗 Connect & Follow Us for Insights Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast
Keywords Wealthy millennials, money habits, financial planning, investment strategies, wealth management, personal finance, financial literacy, entrepreneurship, real estate, stock compensation | |||
| 13 Mar 2025 | Ep.016: Navigating Marriage & Divorce as a Business Owner with Family Lawyer Chantal Cattermole | 00:56:06 | |
In this episode of the Millennial Money Canada podcast, host Guillaume Girard speaks with family lawyer Chantal Cattermole about her journey into family law, the emotional and financial challenges clients face, and the importance of proactive planning for families and business owners. They discuss the role of prenups, generational perspectives on financial planning, and the divorce process, including the four buckets of divorce: division of property, spousal support, parenting time, and child support. Chantal emphasizes the need for open communication in relationships and the potential for graceful separations.
Topics Covered in this Episode: 00:00 Chantal's Journey to Family Law 05:26 Understanding Client Needs and Roles 08:10 Navigating Emotional and Financial Challenges 11:08 Proactive Planning for Relationships 13:43 Prenups and Legal Considerations 19:35 Generational Perspectives on Prenups 22:32 Drafting Effective Prenups 25:18 Revisiting Agreements Over Time 27:08 Business Ownership and Asset Protection 29:18 Divorce After Long-Term Marriage 29:56 Understanding Long-Term Relationship Breakups 33:26 The Divorce Process Explained 40:46 Navigating the Four Buckets of Divorce 51:41 Divorcing Gracefully: A New Perspective
Work with Cozen O'Connor Website: https://www.cozen.com/ Work with Millen Wealth Advisors Book an intro meeting: https://www.mwadvisors.ca/ Self-paced tax and investing course for business owners: https://courses.mwadvisors.ca/ Follow Sam and Guillaume on Social Media Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Instagram: https://www.instagram.com/financialplannergui/ Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/ Sam LinkedIn: https://www.linkedin.com/in/sam-lichtman/
Keywords Family law, divorce, financial planning, prenups, emotional support, asset division, mediation, spousal support, generational perspectives, proactive planning | |||
| 20 Mar 2025 | Ep.017: A Supercharged RRSP for Business Owners (Individual Pension Plan) | 01:01:06 | |
Summary In this episode of the Millennial Money Canada podcast, host Guillaume Girard speaks with Tatenda Mawoyo about Individual Pension Plans (IPPs) and their benefits for incorporated business owners. They discuss the intricacies of setting up an IPP, who should consider one, the tax advantages, and the legal protections associated with these plans. Tatenda shares his journey from Zimbabwe to Canada and his experience at GBL, a firm specializing in actuarial services for business owners. The conversation also covers the importance of financial planning and collaboration with financial advisors to maximize retirement savings.
Topics Covered in this Episode: 00:00 Tatenda Mawoyo's Journey from Zimbabwe to Canada 05:10 Career Development and Transition at GBL 07:29 Understanding GBL's Mission and Services 10:18 Exploring Individual Pension Plans (IPP) 13:02 Who Should Consider an Individual Pension Plan? 15:51 The Mechanics of IPP Contributions 18:38 Tax and Legal Benefits of IPPs 21:11 Transitioning from RSP to IPP 23:48 Setting Up an Individual Pension Plan 30:32 Understanding Individual Pension Plans (IPPs) and Their Benefits 36:22 Contribution Mechanics and Strategies for IPPs 43:01 Investment Strategies for Maximizing IPP Contributions 49:51 Administrative Requirements and Considerations for IPPs 57:27 Options for IPP Assets at Retirement 58:49 Final Thoughts on Exploring IPPs for Business Owners
🤝 Work with Millen Wealth Advisors Book a Financial Review Meeting: https://www.mwadvisors.ca/financial-advice
🔗 Connect & Follow Us for Insights Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast
Keywords Individual Pension Plans, Retirement Savings, Tax Benefits, Financial Planning, Business Owners, Actuarial Services, GBL, IPP Setup, Investment Strategies, Retirement Planning | |||
| 13 Feb 2025 | Ep.012: Giving is a Mindset with Charitable Impact Founder John Bromley | 00:52:47 | |
Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman speak with John Bromley from Charitable Impact about the journey of creating a platform that facilitates charitable giving. They discuss the importance of donor-advised funds, the various types of donations, and the tax benefits associated with charitable giving. John shares insights on encouraging the next generation to be charitable through concepts like the charitable allowance and emphasizes the mindset around giving as a crucial aspect of philanthropy. The conversation highlights the tools available for donors and the impact of Charitable Impact in the Canadian charitable landscape.
Topics Covered in this Episode: 00:00 The Accidental Entrepreneur 07:01 The Birth of Charitable Impact 11:37 Understanding Donor-Advised Funds 19:10 Navigating Charitable Giving Options 20:59 Types of Assets for Donation 27:55 Facilitating Charitable Donations 30:01 The Power of Charitable Giving 32:29 Understanding Donor-Advised Funds 36:45 Introducing Charitable Allowance for Kids 43:34 Accessibility in Charitable Giving 46:57 Mindset Shift Towards Philanthropy
🎗️Charitable Impact Website: https://www.charitableimpact.com/who-we-are IG: https://www.instagram.com/wearecharitable/
🤝 Work with Millen Wealth Advisors Book a Financial Review Meeting: https://courses.mwadvisors.ca/FinancialAdvice
🔗 Connect & Follow Us for Insights Website: https://www.mwadvisors.ca/ Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast
Keywords Charitable giving, donor-advised funds, financial literacy, philanthropy, Charitable Impact, tax benefits, charitable allowance, impact investing, generosity, social responsibility | |||
| 28 Nov 2024 | Ep.002: Millennial Housing Crisis - Is a home worth it? | 00:52:29 | |
Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman discuss the evolving landscape of financial planning and real estate investment from the perspective of millennials. They share insights on their business journey with Millen Wealth Advisors, the challenges millennials face in the current real estate market, and the importance of financial literacy. The conversation highlights the disparity between income growth and rising real estate prices and the necessity for millennials to adapt their wealth-building strategies. In this conversation, Guillaume Girard and Sam Lichtman explore the complexities of homeownership versus renting, emphasizing both financial and non-financial aspects. They discuss the true costs associated with owning a home, the value of real estate, and the potential for wealth building through different asset classes. The conversation also highlights various tools available for first-time homebuyers in Canada, ultimately encouraging listeners to consider their personal preferences and financial situations when making housing decisions.
Chapters 00:00 Introduction to Millennial Money Canada Podcast 01:00 Business Overview of Millen Wealth Advisors 10:14 The Evolution of Financial Planning 17:55 Transitioning to Real Estate Discussion 18:23 Traditional Views on Real Estate 20:43 Current Real Estate Market Analysis 24:55 Income Disparity and Real Estate Affordability 27:43 Personal Perspectives on Real Estate Investment 28:12 The Non-Financial Aspects of Homeownership 31:08 Understanding Real Estate Value: Land vs. Building 34:36 The True Costs of Homeownership 37:48 Real Estate vs. Stock Market: A Wealth Comparison 50:25 Tools for First-Time Homebuyers 54:53 Key Takeaways and Closing Remarks 🤝 Work with Us 🌐 Book an intro meeting today 👉 mwadvisors.ca 📚 Self-paced tax & investing course tailored for business owners 👉 courses.mwadvisors.ca
🔗 Connect & Follow Us for Insights Podcast YouTube Channel: Millennial Money Canada Podcast TikTok: Millennial Money Canada Instagram: @financialplannergui Guillaume on LinkedIn: Guillaume Girard, CFA, CMT, CFP Sam on LinkedIn: Sam Lichtman
🌱Facebook Group Entrepreneurs for Financial Independence: https://www.facebook.com/share/g/18CPZG62qA/
Keywords Navigating Real Estate as Millennials The Millennial Money Journey Understanding Real Estate Investment Today Financial Planning for the Next Generation The Real Estate Dilemma for Millennials | |||
| 20 Nov 2024 | Ep.001: Creating a Millennial Finance Firm | 00:51:20 | |
Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman introduce their mission to elevate financial literacy among millennials. They discuss the importance of authenticity in financial planning, the unique challenges faced by millennials, and the customized approach to financial planning that they advocate. The hosts also share their personal journeys into finance, highlighting the lessons learned along the way and the value of empowering listeners with actionable insights. In this conversation, Sam Lichtman shares his journey from struggling with financial literacy and credit card debt to becoming a financial advisor dedicated to helping others avoid similar pitfalls. He discusses the importance of financial education, the impact of social media in reaching millennials, and the significance of building authentic connections through content. The conversation also touches on personal fitness goals and the broader implications of improving financial literacy in society.
Chapters 00:00 Introduction to Millennial Money Canada Podcast 02:05 Mission and Purpose of the Podcast 05:57 Understanding Financial Planning 10:03 The Show Format and Expectations 14:56 Personal Journeys in Finance 27:32 Navigating Financial Literacy and Debt Stress 30:23 The Journey to Financial Advising 33:18 Harnessing the Power of Short-Form Content 39:31 Building Authentic Connections Through Content 43:34 The Broader Impact of Financial Literacy 44:46 Personal Fitness Goals and Growth
🤝 Work with Us 🌐 Book an intro meeting today 👉 mwadvisors.ca 📚 Self-paced tax & investing course tailored for business owners 👉 courses.mwadvisors.ca
🔗 Connect & Follow Us for Insights Podcast YouTube Channel: Millennial Money Canada Podcast TikTok: Millennial Money Canada Instagram: @financialplannergui Guillaume on LinkedIn: Guillaume Girard, CFA, CMT, CFP Sam on LinkedIn: Sam Lichtman
Keywords financial literacy, millennial finance, financial planning, wealth management, personal finance, financial strategies, financial empowerment, financial education, financial wellness, financial advisors, financial literacy, debt management, financial advising, social media, TikTok, content creation, personal finance, fitness goals, financial planning, | |||
| 09 Jan 2025 | Ep.007: Passive vs Active - What’s the Best Investment Choice? | 01:21:00 | |
Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman discuss essential concepts for successful investing, the implications of recent political changes in Canada, and the importance of financial planning. They explore the challenges of predicting market movements, the benefits of index and factor investing, and the role of financial planners in helping clients achieve their financial goals. The conversation emphasizes the need for discipline in investing and the importance of understanding market dynamics to improve investment outcomes. Chapters 00:00 Introduction to Financial Planning and Political Landscape 11:21 Understanding Market Success: Key Concepts for Investors 35:16 The Psychology of Total Market Investing 38:02 Asset Class Returns and Market Performance 40:33 The Limitations of Index Funds 44:39 Finding the Middle Ground: Active vs Passive Investing 48:01 Understanding Market Factors and Their Impact 50:40 The Role of Discipline in Investment Strategies 52:35 Exploring Investment Options: Index vs Factor vs Socially Responsible 56:22 The Importance of International Diversification 01:01:30 Navigating Hot Tips and Market Trends 01:03:14 The Importance of Discipline in Investing 01:04:51 Understanding Market Downturns 01:11:50 When to Invest: Timing the Market 01:16:57 The Role of Financial Planners 🤝 Work with Millen Wealth Advisors Book a Financial Review Meeting: https://courses.mwadvisors.ca/FinancialAdvice 🔗 Connect & Follow Us for Insights Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Instagram: https://www.instagram.com/financialplannergui/ Guillaume on LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cmt-cfp-08487170/ Sam on LinkedIn: https://www.linkedin.com/in/sam-lichtman/
Keywords Financial planning, investment strategies, market dynamics, wealth management, capital gains tax, index funds, factor investing, financial literacy, investment performance, tax implications | |||
| 12 Dec 2024 | Ep.004: Financial Planners Debate: TFSA vs RRSP | 00:56:59 | |
Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman delve into the intricacies of Registered Retirement Savings Plans (RSPs) and Tax-Free Savings Accounts (TFSAs). They discuss the importance of understanding these financial tools, especially in the context of generational wealth planning. The conversation covers the tax implications of RSP contributions, how to maximize contributions, and the impact of pension adjustments on RSP limits. The hosts also address common misconceptions about RSP withdrawals and the overall benefits of these savings vehicles for retirement planning. In this conversation, Sam Lichtman and Guillaume Girard delve into the intricacies of RRSPs and TFSAs, discussing their tax implications, withdrawal strategies, and the benefits of spousal RRSPs. They explore the advantages and disadvantages of each account type, emphasizing the importance of strategic planning for retirement. The discussion also touches on common mistakes investors make with TFSAs and comparing investing in corporations versus registered accounts. Overall, the episode provides valuable insights into effective financial planning and investment strategies for Canadians.
Chapters 00:00 Introduction to RSP vs TFSA 02:42 Generational Wealth Planning 05:48 Understanding RSPs 08:07 Tax Implications of RSP Contributions 10:34 Maximizing RSP Contributions 13:12 Calculating RSP Contribution Limits 16:30 Pension Adjustments and RSPs 19:18 Withdrawing from RSPs and Taxation 29:15 Understanding RRSP Contributions and Tax Implications 32:57 Withdrawal Options from RRSP Before Retirement 35:19 Eligibility and Strategies for RRSP Withdrawals 38:11 Exploring Spousal RRSPs and Their Benefits 40:36 Introduction to Tax-Free Savings Accounts (TFSA) 42:38 Advantages and Disadvantages of TFSAs 44:41 TFSA vs RRSP: Prioritizing Contributions 48:10 Common Mistakes with TFSAs 51:03 Investing in Corporations vs RRSPs and TFSAs 🤝 Work with Us 🌐 Book an intro meeting today 👉 mwadvisors.ca 📚 Self-paced tax & investing course tailored for business owners 👉 courses.mwadvisors.ca 🔗 Connect & Follow Us for Insights Podcast YouTube Channel: Millennial Money Canada Podcast TikTok: Millennial Money Canada Instagram: @financialplannergui Guillaume on LinkedIn: Guillaume Girard, CFA, CMT, CFP Sam on LinkedIn: Sam Lichtman
Link to the article mentioned in the episode by Jamie Golombek: https://www.cibc.com/content/dam/personal_banking/advice_centre/tax-savings/rrsp-tfsa-business-en.pdf
Keywords RRSP, TFSA, financial planning, tax implications, retirement savings, generational wealth, investment strategies, financial literacy, Canada, wealth management, RRSP, TFSA, tax implications, retirement planning, investment strategies, spousal RRSP, withdrawal options, tax-free growth, financial planning, corporate investments | |||
| 16 Jan 2025 | Ep.008: How to Settle an Estate, Pick an Executor, and Avoid Family Fights with David Edey | 00:55:35 | |
Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman engage with David Edey, a seasoned financial planner and author, to discuss the critical role of an executor in estate planning. They explore the responsibilities and challenges faced by executors, the importance of communication within families regarding estate matters, and the emotional aspects of grief that executors must navigate. David emphasizes the need for proactive conversations about wills and estates to prevent family disputes and ensure a smooth transition of assets. He also highlights the significance of organization and preparation in leaving a meaningful legacy for loved ones.
Chapters 00:00 Understanding the Role of an Executor 04:15 The Importance of Communication in Estate Planning 06:39 Navigating Family Dynamics and Expectations 09:24 Grief and Its Impact on Executors 12:25 Executor Compensation and Professional Services 15:13 Preparing for the Inevitable: Organizing Your Estate 18:11 Digital Assets and Their Management 20:44 The Executor's First Steps After a Death 23:15 Coping with Grief and Supporting Others 26:25 Final Thoughts on Estate Planning and Executor Responsibilities 32:20 Navigating Grief and Support 38:16 The Role of Executors in Estate Settlement 44:30 Family Dynamics and Estate Disputes 48:12 Initiating Conversations About Estate Planning 53:43 Leaving a Legacy: The Importance of Organization
💡David Edey Website: https://www.davidedey.com/ David’s Book: https://www.davidedey.com/executorhelpbook.html Free Resources: https://www.davidedey.com/resources.html
🤝 Work with Millen Wealth Advisors Book a Financial Review Meeting: https://courses.mwadvisors.ca/FinancialAdvice 🔗 Connect & Follow Us for Insights Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Instagram: https://www.instagram.com/financialplannergui/ Guillaume on LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cmt-cfp-08487170/ Sam on LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Keywords Executor, estate planning, family communication, grief, legacy, financial planning, estate settlement, executor responsibilities, family disputes, estate management | |||
| 19 Dec 2024 | Ep.005: Tax Changes Everyone Needs to Know in Canada | 01:02:08 | |
Summary In this episode of the Millennial Money Canada podcast, host Guillaume Girard and co-host Sam Lichtman engage with tax expert Mohammed Al-khooly to discuss tax planning strategies for 2025. They explore Mohammed's journey from working in large accounting firms to starting his own tax advisory firm, emphasizing the importance of proactive tax planning. The conversation covers various topics including income splitting, tax risk tolerance, the implications of shareholder loans, and the recent changes in capital gains tax. They also discuss the role of social media in client acquisition and the importance of understanding clients' emotional responses to financial decisions.
Chapters 00:00 Mohammed's Journey in Taxation 04:22 Transitioning to Self-Employment 06:52 Leveraging Twitter for Client Acquisition 09:47 Understanding Clientele and Their Needs 12:31 Navigating Partnerships in Business 15:10 Income Splitting Strategies Explained 18:01 Tax Risk Tolerance and Its Implications 20:51 Best Practices for Business Owners 23:25 Paying Yourself: Salary vs. Dividends 35:25 Transitioning from Salary to Dividends 36:39 Understanding CPP and Client Perspectives 38:56 The Importance of Guaranteed Income 40:52 Common Mistakes in Tax Planning 42:50 Shareholder Loans and Tax Implications 46:28 Capital Gains Inclusion Rate Changes 51:38 Multi-Generational Housing Tax Credit Insights 54:24 Behavioral Coaching in Financial Planning
🤝 Work with CoPilot Tax 🌐 Visit their Website: https://copilottax.ca/ 📚Connect on Twitter: https://x.com/CanadaTaxGuy
🤝 Work with Millen Wealth Advisors 🌐 Book an intro meeting today 👉 mwadvisors.ca 📚 Self-paced tax & investing course tailored for business owners 👉 courses.mwadvisors.ca
🔗 Connect & Follow Us for Insights Podcast YouTube Channel: Millennial Money Canada Podcast TikTok: Millennial Money Canada Instagram: @financialplannergui Guillaume on LinkedIn: Guillaume Girard, CFA, CMT, CFP Sam on LinkedIn: Sam Lichtman
Keywords Tax planning, Canadian tax, financial literacy, income splitting, tax risk tolerance, shareholder loans, capital gains, CPP, financial planning, social media marketing | |||
| 03 Jan 2025 | Ep.006: Crush Your 2025 Goals (Your Blueprint for Success) | 01:08:16 | |
Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman discuss practical goal setting for 2025, emphasizing the importance of a structured approach using the SMART model. They explore personal and professional goals, health and fitness aspirations, and the significance of accountability and celebrating milestones. The conversation highlights practical strategies for achieving financial and personal success, encouraging listeners to reflect on their goals and enjoy the journey towards achieving them. An evidence-based model to accomplish your goals in 2025: 1. Set SMART Goals (Specific, Measurable, Achievable, Relevant, Time-bound) 2. Break Goals into Smaller Milestones 3. Create a System for Daily Progress 4. Measure Progress Regularly 5. Stay Accountable 6. Develop Resilience 7. Celebrate Wins 8. Reflect and Refine Chapters 00:00 Introduction to Goal Setting for 2025 06:48 The Importance of Goal Setting 13:55 Implementing the SMART Model 20:09 Personal Health and Fitness Goals for 2025 30:01 Understanding the SMART Model in Depth 34:21 Strategies for Saving and Income Growth 36:13 The Importance of Realistic Goal Setting 38:02 Building Consistency and Discipline 38:54 Enjoying the Journey Towards Goals 40:26 Creating Systems for Daily Progress 42:39 Identifying with Your Goals and Values 43:56 Measuring Progress Regularly 47:41 The Role of Accountability in Achieving Goals 51:36 Developing Resilience in the Face of Challenges 55:55 Celebrating Wins and Reflecting on Progress 🤝 Work with Millen Wealth Advisors Book a Financial Review Meeting: https://courses.mwadvisors.ca/FinancialAdvice 🔗 Connect & Follow Us for Insights Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Instagram: https://www.instagram.com/financialplannergui/ Guillaume on LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cmt-cfp-08487170/ Sam on LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Keywords Goal setting, financial planning, health goals, SMART model, accountability, personal development, financial literacy, wellness, milestones, success | |||
| 06 Feb 2025 | Ep.011: Investment Frameworks the Industry Doesn't Want You to Know – My Lessons from the Inside | 00:52:31 | |
Summary In this Millennial Money Canada podcast episode, Guillaume delves into Millen Wealth's investment philosophy, emphasizing the importance of aligning investment strategies with individual goals. He shares his personal journey into finance, discusses the significance of risk management, and contrasts institutional and retail portfolio management. The episode also covers key investment theories, including the modern portfolio theory, capital asset pricing model, and efficient market hypothesis, while advocating for adopting index and factor investing to build generational wealth.
Topics Covered in this Episode: 00:00 Introduction to Millen Wealth’s Investment Philosophy 02:27 Guillaume's Personal Journey in Finance 04:52 Understanding Investment Approaches: Passive vs Active 07:06 The Impact of the 2008 Financial Crisis on Personal Finance 09:31 Early Investment Experiences and Lessons Learned 12:16 Transitioning from Retail to Institutional Investing 14:50 The Role of Institutional vs Retail Portfolio Managers 17:49 Skepticism Towards Retail Portfolio Management 20:03 The Importance of Evidence-Based Investing 21:35 Foundational Theories of Investment: Modern Portfolio Theory 26:25 Understanding Modern Portfolio Theory 30:37 Exploring the Capital Asset Pricing Model 33:54 The Efficient Market Hypothesis Explained 40:48 Diving into Factor Investing 47:37 The Shift Towards Passive Investing
🤝 Work with Millen Wealth Advisors Book a Financial Review Meeting: https://courses.mwadvisors.ca/FinancialAdvice
🔗 Connect & Follow Us for Insights Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast Instagram: https://www.instagram.com/financialplannergui/ Guillaume on LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cmt-cfp-08487170/
Keywords Investment philosophy, financial planning, index funds, factor investing, risk management, portfolio management, modern portfolio theory, capital asset pricing model, efficient market hypothesis, Fama-French model | |||
| 27 Feb 2025 | Ep.014: Must-Have Health Accounts for Canadian Business Owners | 00:48:11 | |
Summary In this episode, Guillaume invited Kyle Welsh from MyHSA to discuss the transformation of health benefits through technology, the growth and scalability of MyHSA, and the competitive landscape of health spending accounts. He highlights the unique offerings of MyHSA, including health spending accounts and wellness spending accounts, and explains how these solutions cater to business owners and employees. The discussion also covers the importance of company culture, the guidelines for setting up health spending accounts, and the eligible expenses under these plans. Kyle emphasizes the flexibility of wellness spending accounts and flex plans, as well as the custom solutions available for larger enterprises. He concludes with insights into future innovations at MyHSA and the importance of working with advisors to implement these solutions.
Topics Covered in this Episode: 00:00 Introduction to My HSA 03:56 Growth and Transformation of My HSA 07:10 Technology and User Experience 09:37 Funding Models and Differentiation 12:21 Health Spending Accounts for Business Owners 15:05 Eligible Expenses and Benefits 17:41 Wellness Spending Accounts for Employees 26:49 Creative Employee Benefits for Retention 28:57 Understanding Health and Wellness Spending Accounts 31:15 The Flexibility of My Flex Plan 32:55 Cost Considerations for Spending Accounts 37:50 Custom Solutions for Growing Enterprises 39:10 Exploring MySO: Administrative Services Only 44:59 Future Innovations at MyHSA
MyHSA Website: https://www.getmyhsa.com/
🤝 Work with Millen Wealth Advisors Book a Financial Review Meeting: https://courses.mwadvisors.ca/FinancialAdvice
🔗 Connect & Follow Us for Insights Website: https://www.mwadvisors.ca/ Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast
Keywords Health benefits, MyHSA, health spending accounts, wellness spending accounts, employee benefits, technology in healthcare, corporate wellness, financial planning, Canadian health benefits, advisor solutions | |||
| 24 Jan 2025 | Ep.009: Here’s What To Do With Your Pension | 00:57:09 | |
Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman discuss the various options available for company pension plans when leaving an employer or entering retirement. They explore the differences between defined benefit and defined contribution plans, the process of commuting a pension, and strategies for managing LIRA and RRSPs. The conversation also covers tax planning, the pension income credit, and the potential to unlock LIRA for home purchases. Additionally, they delve into income-splitting strategies and withdrawal plans to optimize tax efficiency in retirement. Chapters 00:00 Introduction to Pension Options 02:41 Understanding Defined Contribution Plans 05:38 Exploring Defined Benefit Plans 08:11 Commuting a Defined Benefit Pension 10:51 Tax Implications of Commuting 13:31 Strategies for Managing LIRA in Retirement 16:31 Income Splitting and Tax Planning 18:27 Converting LIRA and RRSP for Withdrawals 27:41 Understanding LIF and RIF Withdrawal Rules 30:05 Strategic Planning for Retirement Income 34:06 Tax Implications of Retirement Withdrawals 38:28 Pension Income Credit and Its Benefits 41:11 Exploring Copycat Annuities 44:09 Unlocking LIRA for Home Purchases 47:40 Pension Income Splitting Strategies 51:22 Withdrawal Plan Options at Retirement 🤝 Work with Millen Wealth Advisors Book a Financial Review Meeting: https://courses.mwadvisors.ca/FinancialAdvice 🔗 Connect & Follow Us for Insights Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Instagram: https://www.instagram.com/financialplannergui/ Guillaume on LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cmt-cfp-08487170/ Sam on LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Keywords Pension plans, retirement, defined benefit, defined contribution, LIRA, RRSP, tax planning, income splitting, pension income credit, home buyers plan | |||
| 30 Jan 2025 | Ep.010: Is Life Insurance a Need or a Preference? | 01:15:18 | |
Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman delve into the complexities of life insurance, discussing the various types of insurance products available, the importance of understanding individual needs, and the different approaches to determining how much insurance one might require. They explore scenarios based on life stages, from young adults to retirees, emphasizing the need for personalized financial planning and the distinction between term and permanent life insurance. The conversation highlights the significance of objective advice and the potential pitfalls of insurance as an investment substitute.
Topics Covered in this Episode: 00:00 Introduction to Insurance Needs 10:49 Understanding Life Insurance Products 18:35 Term vs Permanent Life Insurance 23:26 Understanding Cash Value in Permanent Life Insurance 28:07 The Nuances of Universal Life Insurance 32:41 Evaluating the Need for Permanent Insurance 35:57 Analyzing Life Insurance Needs: The Frameworks 47:15 Scenario Analysis: Life Insurance Needs at Different Life Stages 53:06 Understanding Insurance Needs for Families 56:49 Insurance Needs for Stay-at-Home Parents vs. Working Parents 01:02:31 Insurance Considerations in Retirement Planning 01:08:32 The Role of Insurance in Tax Planning and Estate Management 🤝 Work with Millen Wealth Advisors Book a Financial Review Meeting: https://courses.mwadvisors.ca/FinancialAdvice 🔗 Connect & Follow Us for Insights Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Instagram: https://www.instagram.com/financialplannergui/ Guillaume on LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cmt-cfp-08487170/ Sam on LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Keywords Life insurance, financial planning, term insurance, permanent insurance, insurance needs analysis, retirement planning, financial literacy, insurance products, wealth management, family protection | |||
| 05 Dec 2024 | Ep.003: Navigating the Mortgage Landscape in Canada with Matthew Shantz | 01:17:06 | |
Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman welcome mortgage broker Matthew Shantz to discuss the current mortgage landscape in Canada. They explore various topics, including the importance of financial literacy, the impact of interest rates on the housing market, and strategies for self-employed individuals seeking mortgages. Matthew shares insights on reverse mortgages and the benefits of multi-generational living, emphasizing the need for proactive financial planning. The conversation highlights the importance of understanding mortgage insurance and preparing for upcoming mortgage renewals, providing listeners with valuable information to navigate their financial futures.
🎥 Content of this video 00:00 Introduction to Millennial Money Canada Podcast 03:26 Business Growth Strategies and Client Engagement 08:08 Podcasting Journey and Personal Development 08:50 Introduction and Meeting Sam 10:43 Building a Successful Team 13:51 Recent Changes in the Mortgage Space 19:07 Understanding Mortgage Regulations and Market Dynamics 24:17 Interest Rates and Their Impact 30:56 The Mortgage Renewal Cliff 36:25 Tactics of Major Players in the Mortgage Market 44:53 Navigating Renewal Options 47:21 Understanding Self-Employed Income 55:15 Exploring Reverse Mortgages 01:07:36 Innovative Housing Solutions for Retirement
🤝 Work with Matthew and his Team Website: https://matthewshantz.com/ LinkedIn: https://www.linkedin.com/in/matthew-shantz/ Instagram: https://www.instagram.com/the_matthewshantz/ 🤝 Work with Millen Wealth Advisors 🌐 Book an intro meeting today 👉 mwadvisors.ca 📚 Online Course Self-paced tax & investing course tailored for business owners 👉 courses.mwadvisors.ca 🔗 Connect & Follow Us for Insights Podcast YouTube Channel: Millennial Money Canada Podcast TikTok: Millennial Money Canada Instagram: @financialplannergui Guillaume on LinkedIn: Guillaume Girard, CFA, CMT, CFP Sam on LinkedIn: Sam Lichtman Keywords Millennial Money, financial planning, mortgage landscape, real estate investment, interest rates, mortgage insurance, self-employed mortgages, reverse mortgages, multi-generational living, financial literacy | |||