March 29th, 2018
Eric Brotman understands that a relationship with a financial planner is a multi-generational thing.
I talk about this a lot on the show, but it’s all about a holistic plan that takes into account all the financial aspects of your life, and it’s about reviewing the plan once or twice a year and changing it to match your goals and objectives as they change throughout the course of your life.
This is an ongoing thing. It’s not a one-time plan or a transactional thing. This is a lifetime deal.
In the interview, Eric didn’t list what he calls his “alphabet soup” of designation letters after his name. He’s got a lot of professional designations and that’s not a bad thing, but as he says, you can’t get a diploma in integrity and hang it on the wall. Confidence is something you earn.
So yes, credentials are nice, but never blindly trust someone because they have a lot of letters after their name. Talk to them and make sure that they’re listening to your story and working towards your goals.
And it doesn’t hurt to get a second opinion.
I couldn’t make it down to Maryland anytime soon so Eric joined me online to tell his personal finance story.
26 - Matt Matheson
DISCLAIMER: Eric offers securities through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Kestra IS and Kestra AS are not affiliated with Brotman Financial Group or any entity referenced herein. Neither Kestra IS nor Kestra AS provide tax or legal advice. The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra IS or Kestra AS. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation. Comments concerning the past performance are not intended to be forward looking and should not be viewed as an indication of future results.
March 22nd, 2018
In 2011, Cait Flanders had credit card debt of $30,000, no more available credit, $100 in the bank, and had to move back in with her parents.
Cait decided to reboot the blog she had previously deleted, called Blonde on a Budget, hoping that writing about it would help with her debt repayment and struggles with overspending.
Since that first post in June 2011, on what has now become https://caitflanders.com, Cait paid off her $30,000 in full, got a job offer because of her blog, and came up with this crazy idea of going on a one-year shopping ban.
And then after a friend wrote an article on Forbes.com about her shopping ban, she was contacted by 6 different literary agents asking if she wanted to write a book.
And she did!
It’s called The Year of Less, and it came out in January 2018.
Cait joined me in Toronto’s Trinity-Bellwoods park to talk about her personal finance journey.
Note: special thanks to PaullPeterson (Twitter) realtorchef (Instagram) for the picture of us in the park.
25 - Eric Brotman
March 16th, 2018
Carrot Rewards is a free app for your smartphone or Fitbit that helps you earn your favourite reward points by making healthy lifestyle choices.
What if I told you that you would get a reward every time you went for a walk?
Ok, sometimes I'll reward myself by walking to the donut shop, but I'm not talking about that kind of reward.
My favourite part of the app is the steps section. It tracks the steps I take every day to come up with my average daily steps and then rewards me with a few points every day I exceed my average.
But healthy lifestyle choices aren't just about walking. As I discussed in episode 20 with Canada's Financial Literacy Leader Jane Rooney, financial wellness is just as important as physical and mental wellness.
And let's not forget environmental wellness which is about living a lifestyle that respects our surroundings. For all of these other wellness topics Carrot Rewards sends you offers in the form of quizzes and surveys within the app that take only a few minutes to complete.
Megan Nobrega introduced me to Carrot Rewards at the Canadian Personal Finance Conference in November 217 so I decided to visit her at her office and find out more about her personal finance story and how she ended up at Carrot.
Update: Carrot Rewards now has over 750,000 users in Canada!
P.S. Once you get the Carrot Rewards app, use my code to get bonus rewards: beauh1933
24 - Cait Flanders
March 8th, 2018
Since he was 20 years old, Richard Peddie dreamed about being president of an NBA basketball team.
In November of 1996 his dream became reality when he was offered the job of president of the Toronto Raptors.
In 1998, the Toronto Maple Leafs bought the Raptors and Richard became President and CEO of Maple Leaf Sports and Entertainment or MLSE.
Richard ran MLSE for 14 years and for 6 of those years, I worked there as Event Accountant in the Live Entertainment department, or as we liked to say, the E in MLSE.
What I remember most about Richard was that he always seemed very approachable. He was always very appreciative of our work in Live Entertainment, and probably the biggest fan of the company band, which I was lucky enough to be part of for 6 years.
I got to play on stage at the Air Canada Centre several times, and one time I even got to do a live performance with Alan Frew from the band Glass Tiger. I doubt that any of this would have happened if Richard didn’t approve.
Richard taught me the importance of having a vision and values in business but also in the rest of your life as well. Knowing my core values helps me feel confident about big decisions I make.
And I believe it’s important that when you’re applying for a job that you make sure that at least a few of your top values align with those of the company.
Since retiring from MLSE, Richard has written two books.
Dream Job is his autobiography and takes you through his journey in detail.
21 Leadership Lessons is his second book and though at first you might think it is a book reserved for business leaders, after reading it I realized how applicable these lessons are to everyone.
I wanted to have Richard on the show because I believe his lessons about values, leadership, integrity, and yes even thank you cards, are important for everyone to hear, and can be applied to your personal life as well as your career.
Today, at 71, Richard is a passionate city builder and philanthropist. He is active on Twitter and regularly writes posts on his website forabettertoronto.ca.
I feel very fortunate to know Richard and grateful that he agreed to host me in his home for this interview.
23 - Megan Nobrega
March 1st, 2018
Lindsay and Graham Plumb want you to be unstoppable with your personal finances.
If you’re 30 to 45 years old, for example, and you have a couple of kids, and a mortgage, maybe unstoppable is not the first word that comes to mind when you think of your finances. But this is actually the most important time of your life financially.
This is the time when tracking your spending, paying down your mortgage, having the right insurance and building up that emergency fund is crucial.
And then there’s the investing part - do you want to put some away for the kids’ education in an RESP account, and what about investing for retirement? Lindsay and Graham know how hard it is to wrap your head around all this stuff.
They were working in the traditional mutual fund and insurance business and realized there wasn’t a whole lot of holistic financial planning available. Holistic financial planning is when someone looks at your whole financial picture.
Do you have debt? Do you have existing investments that cost too much?
What are your goals around money? Do you want your kids to have a education fund or would you rather they take out loans themselves in the future and learn something in the process?
Do you have an emergency fund? Do you have insurance?
And when Lindsay and Graham tried to help clients with basic personal finance stuff like tracking and budgeting, the company they worked for told them: We don’t do that here.
How were they going to make you unstoppable, if all they were allowed to do was sell you products and then send you on your way?
This is the story of Lindsay and Graham Plumb and their company Moola Financial Coaches and Advisors.
22 - Richard Peddie