Welcome to “Your Life and Money,” where we delve into the transformative power of life-centered financial planning. Join hosts Brad Smith and Tim Borody as they explore stories of real people who have aligned their finances with their life goals and dreams.

In this episode, Brad is joined by Paul Armson, a trailblazer in the financial planning industry who challenges conventional wisdom. Paul shares insights from his book, “Enough,” which redefines the purpose of financial advising and empowers individuals to live their best lives without financial worries.

Key Points:

• Aligning Money with Values: Discover the importance of aligning your financial decisions with your values and priorities.
• The Frustration of Traditional Financial Planning: Learn why Paul Anson felt compelled to challenge the status quo of the financial industry and redefine financial advising.
• Life-Centered Financial Planning: Explore the concept of life-centered financial planning and how it prioritizes clients’ life goals over financial products.
• Moving Beyond “If Only”: Understand the profound impact of living life to the fullest and avoiding regrets, as illustrated by personal experiences shared by Paul Anson.
• The Realization: Gain insights into Paul’s journey and how personal experiences, including the loss of a loved one, shaped his perspective on life and financial planning.

Practical Insights and Benefits:

• Gain a deeper understanding of how financial planning can enrich your life beyond mere numbers.
• Learn practical strategies for aligning your financial decisions with your life goals.
• Be inspired to embrace a life-centered approach to financial planning and prioritize what truly matters to you.

Join us as we challenge the traditional norms of financial advising and embark on a journey to living a life of fulfillment and abundance. Tune in to “Your Life and Money” and start transforming your financial future today!

Welcome back to another episode of “Your Life and Money,” where we dive deep into the world of financial planning, believing that it’s not just about numbers but about crafting a plan that aligns with your life. I’m your host, Brad Smith, joined by the insightful Tim Borody. Today, as we find ourselves amidst tax season, we’re addressing the common questions flooding our inbox.

In this episode, we unravel the complexities of financial decisions, focusing on tax refunds, investment options, and the intricate dance between mortgages and savings. From RRSPs to TFSAs and the recently introduced First Home Savings Account, we’ll guide you through the maze of choices to help you make informed decisions.

Key Points Covered:

• Unpacking the age-old question: “I got my tax refund, now what?”
• Navigating the terrain of RRSPs and TFSAs: Understanding the benefits and limitations.
• The game-changer: First Home Savings Account – How does it compare to traditional options?
• Strategies for couples: Leveraging both partners’ contributions for maximum benefits.
• Homeownership dilemmas: Paying down the mortgage vs. investing in TFSA – A personalized approach.
• The evolving landscape: Why there’s no one-size-fits-all answer to financial questions.
• Learn the nuances of RRSPs, TFSAs, and the First Home Savings Account.
• Understand the implications of paying down your mortgage vs. investing in tax-free savings.
• Gain insights into crafting a personalized financial plan that aligns with your goals.
• Explore strategies for maximizing benefits as a couple in the realm of home savings.

Tune in to “Life and Money” for real stories, expert advice, and a journey towards a life-centered financial plan. Because your financial journey is not just about money—it’s about your life.

Welcome back to “Your Life and Money,” the podcast that goes beyond the numbers and dives deep into the intersection of life and financial planning. I’m Brad Smith, joined by Tim Borody, and in this episode, we are joined by tax expert Angelique Gray, CPA CA. to discuss the key aspects of the 2023 tax season.

In this insightful episode, we break down the important changes and considerations for individuals and businesses as they navigate the evolving landscape of tax regulations. From practical tips on preparing for tax filing to the impact of recent tax changes on various financial scenarios, this episode is packed with valuable information to empower you in making informed financial decisions.

Key Topics Covered:

• The shift from the $2-a-day home office deduction and its implications for 2023.
• The importance of providing paper slips to accountants despite the increasing digitization.
• Changes in tax credits, including the elimination of the staycation credit for 2023.
• Practical advice on paying taxes online and avoiding penalties for amounts exceeding $10,000.
• Updates on housing-related tax considerations, including the new first home savings account.
• Insights into the multigenerational renovation credit and its impact on home improvements.
• A detailed overview of the underused or unused housing tax and who needs to be aware of it.
• New rules and reporting requirements for trusts, especially bear trusts.
• The upcoming changes in intergenerational business transfers and the introduction of AMT (Alternative Minimum Tax).

Whether you’re an individual taxpayer, business owner, or someone navigating the complexities of trusts and housing, this episode provides a roadmap for understanding and optimizing your financial situation in 2023.

Join us on this journey to financial empowerment and gain valuable insights for a successful tax season. Tune in now and stay ahead of the curve in managing your life and money!

Welcome to Your Life and Money, where we believe that financial planning is not just about numbers; it’s about your life. Join hosts Brad Smith and Tim Borody as they delve into the world of life-centered planning, sharing inspiring stories and valuable advice from real people who have achieved their goals. In this episode, they are joined by special guest Angelique Gray.

Key Points:

• The importance of aligning financial success with values and priorities.
• Angelique’s journey into accounting and her experience.
• Insights into the diverse clientele and services provided by the firm.
• The significance of early and collaborative planning for financial success.
• Addressing common questions and concerns related to tax planning and financial decisions.
• The value of a seamless collaboration between financial planners and accountants.
• Angelique’s personal and professional life, including family and the joy of working with clients.
• Learn about the benefits of aligning your financial goals with your values and priorities.
• Gain insights into the world of accounting and the importance of early tax planning.
• Understand the value of collaboration between financial planners and accountants for comprehensive life-centered planning.
• Discover practical tips and considerations for making informed financial decisions.

Tune in for more inspiring stories, expert insights, and practical strategies to help you navigate your life and money. Remember, financial planning is about more than just money; it’s about planning for the life you deserve. Until next time, take care and keep planning!

Welcome to “Your Life and Money,” where financial planning goes beyond numbers and dives into the essence of your life. Join hosts Brad Smith and Tim Borody as they share inspiring stories of real people who have achieved their dreams through life-centered planning and valuable advice.

In this episode, Brad and Tim introduce powerful tools designed for 2024, focusing on retirement planning and investments. They emphasize the importance of aligning your money with your values and priorities for financial success. The hosts explore tools that evaluate your confidence in retirement plans, addressing risks, inflation, and the often-overlooked aspects of post-retirement life.

Key Topics:

• Overview of life-centered planning
• Introduction to new tools for 2024
• Retirement planning and investment alignment
• Evaluating confidence in retirement plans
• Uncovering risks and addressing inflation
• The significance of ongoing plan supervision
• Utilizing tax strategies for financial success
• The role of financial planning in lifestyle improvement
• Encouraging engagement and regular plan reviews
• Navigating the complexities of estate planning
• Interview with client Tim on the benefits of financial planning
• Achieving early retirement through a flexible financial plan
• The three C’s of financial planning: Clarity, Confidence, and Choice

Discover how life-centered planning and the introduced tools can provide clarity, boost confidence, and offer choices in your financial journey. Gain insights into retirement planning, investment alignment, and the benefits of early financial planning from a real client’s perspective.

Tune in to “Your Life and Money” and embark on the journey to a life-centered plan that goes beyond numbers, creating a roadmap for financial success aligned with your unique values and priorities.

Welcome to “Your Life and Money,” where financial planning goes beyond numbers and dives into the essence of your life. Join hosts Brad Smith and Tim Borody as they share inspiring stories of real people who have achieved their dreams through life-centered planning and valuable advice.

In this episode, Brad and Tim introduce powerful tools designed for 2024, focusing on retirement planning and investments. They emphasize the importance of aligning your money with your values and priorities for financial success. The hosts explore tools that evaluate your confidence in retirement plans, addressing risks, inflation, and the often-overlooked aspects of post-retirement life.

Key Topics:

• Overview of life-centered planning
• Introduction to new tools for 2024
• Retirement planning and investment alignment
• Evaluating confidence in retirement plans
• Uncovering risks and addressing inflation
• The significance of ongoing plan supervision
• Utilizing tax strategies for financial success
• The role of financial planning in lifestyle improvement
• Encouraging engagement and regular plan reviews
• Navigating the complexities of estate planning
• Interview with client Tim on the benefits of financial planning
• Achieving early retirement through a flexible financial plan
• The three C’s of financial planning: Clarity, Confidence, and Choice

Discover how life-centered planning and the introduced tools can provide clarity, boost confidence, and offer choices in your financial journey. Gain insights into retirement planning, investment alignment, and the benefits of early financial planning from a real client’s perspective.

Tune in to “Your Life and Money” and embark on the journey to a life-centered plan that goes beyond numbers, creating a roadmap for financial success aligned with your unique values and priorities.