Hi again! It’s been awhile. A LONG while. But we’re back. This episode is a little update about what we’ve been up to, our investments and big life happenings. We’ve got some BIG and fun things that have been going on in the meantime. A few things that we talked about this episode… -       Tim ran into a listener of the show -       Passiv investment application -       Eric talks about how his dividends have been growing -       How hustling in his 20’s has given Will freedom to take significant time off work -       Tim has finally earned Wealthsimple premium, and Will has earned Wealthsimple generational   If you have any feedback, have topics you would like us to discuss, or if you would like to come on the show, feel free to email us at [email protected]   Passiv Investment App: https://passiv.com

In this episode, Eric and Tim discuss the ins and outs of a shared passion – budgeting. They see budgeting as more than a math calculation; they see it as aligning your values with your finances and a means to experiencing peace of mind. They also realize that there are a lot of challenges associated with budgeting, especially in getting started with your first budget. In this episode, Eric and Tim discuss the following topics:   -       Budgeting as a reflection of your values -       Budgeting as a life enhancer – not a restrictor -       Various budgeting methods -       Building an emergency fund -       Budgeting for variable income, such as commission or seasonal -       Evaluating your budget   If you have any feedback, have topics you would like us to discuss, or if you would like to come on the show, feel free to email us at [email protected] Lending Tree Article: https://www.lendingtree.com/personal/budget-to-pay-off-debt/#:~:text=50%2F30%2F20%20budget&text=50%25%20of%20your%20income%20should,toward%20savings%20and%20debt%20repayment.

Hey everyone! Sorry for MIA all summer, but we are back! Tim, Eric, and Will were all busy during the summer and had to take a break. It's good to be back recording once again. In this episode we caught up on each other's summer and how each other is doing overall. We touched on the current economic environment in the world and why markets have been dropping recently. A few things we noted were the reduction in fed balance sheets via QT, as well tight macro conditions due to interest rate being so high. It was good to be back! Let us know if there is anything you want to hear about and if you would like to come on the show feel free to email us at [email protected]

In this episode, we take a deeper dive into the newest member of The Financial Classroom Canada, Eric, and learn about his journey to becoming a 6-figure millenial. We interview Eric to discover the challenges he faced, changes he made, lessons learned, and how to avoid the temptation of "Keeping up with the Joneses". During our conversation, we discussed: - Eric's Current net worth, with discussion on asset allocation and the use of separate accounts - The mistakes made along the way - What debt was incurred - Managing Finances with his partner Natalie - Financial Goals for the future - And more! If you are a 6-figure millennial or someone who is passionate about finance and would like to come on the podcast, feel free to reach out to us at [email protected] or on Facebook and Instagram.

In this episode, Miro Svoboda returns to discuss the most common questions that he has received from RCMP members about their pension plans. While this is an excellent episode for any member of the RCMP to listen to, it will also be extremely beneficial for anyone else who has a defined benefit pension. Some of the topics discussed include: How is a defined benefit pension calculated? What happens when someone leaves the RCMP because of disability? What benefit is available to the spouse and kids if the pension holder passes away? What happens to a defined benefit pension in the case of a divorce? What are the tax implications of withdrawing the cash value of the pension? What is the process of applying to receive either the cash value of the pension or the annuity? If you have any questions for Miro, please feel free to reach out to Miro and his team by email. And don’t forget to check out his YouTube channel for more excellent personal finance content. Email: [email protected] Youtube: Easy Retirement with Miro or https://www.youtube.com/@easyretirementwithmiro

We are back after a little break! In this episode on the Financial Classroom Canada, we talk about a few of the new changes that the Canadian Federal Government has introduced in 2023. We talk about: First Home Savings Account (FHSA) What is it? Government Savings account in which you can put money away for you and/or a partner, to save for the purchase of your first home. Who is it available to? This is available to anyone in which hasn’t personally owned or has a common-law/spouse who’s owned a primary residence within the past 4 years Why would someone use it? This is beneficial to someone who is looking to save money for first home and not having the trouble of looking elsewhere of how and where to store the savings. How much can one contribute? An individual is allowed to contribute $8,000 per year, to a maximum of $40,000 for a lifetime. Lifetime means that you can only ever save up to $40k in this to buy your first time, you cannot go higher than this. Tax Tip: Is good for those looking for a way to also deduct their taxable income but also have to pay $0 in taxes once you withdraw, saving you $$ Grocery Rebate What is it? A sum of money given to you by the federal government to help assist with the cost of groceries. It is solely based on income, which the threshold is $X or  Who is it available to? Anyone within the GST credit area, meaning, if you receive the GST credit, you'll be eligible to receive this rebate. How much will you receive? An average family of four with two children would receive $467, while a single Canadian would be eligible for $234 in rebates  Federal Student Loan interest eliminated April 1 So, don’t worry about having to deduct this on your return anymore/ SK YOU STILL NEED TO Rental and dental benefits weren’t used much Federal income tax brackets indexed by 6.3% Payday loans  Increase student loan interest limit New Carbon Tax April 1 After grocery and other rebates Why we should file tax returns If you don’t you can’t take advantage of any of the credits/rebates mentioned

On this episode of The Financial Classroom, our special guest is Tim’s brother Michael. Michael self-describes himself as having become a 6-figure millennial by accident. However, he goes on to clarify that he achieved this feat by keeping expectations realistic about the lifestyle he can afford. Listen in as Michael talks about: How he paid off his student loans, and went on to pursue additional schooling debt-free The importance of knowing where you’re money is going Eating sustainably as a cost-saving measure Buying kids stuff off VarageSale and other online marketplaces Making the little things count If you are a 6-Figure Millennial or want to come on as a guest, feel free to reach out to us at [email protected] or find us on Instagram or Facebook.

Episode 69 Today we got to talk to Miro Svoboda once again from Harbour Front Wealth. This time we talked about the current economic conditions and how the feds have influenced the market. We then dived into owning variable assists in order to protect yourself when parts of your portfolio is down, and navigating through this bear market. We also discussed how the traditional 60/40 portfolio last year didn’t work, as bond prices dropped a ton last year resulting in people in retirement panicking. Miro touched on how the rise in interest rate took a massive hit on the market as the feds tried to decrease demands. Lastly we discussed about private investing, how to diversify into private equities, private real estate and private fix income. Check out Miro's Youtube account: Easy Retirement with Miro.  You can also reach out to him via Email: [email protected] If you would also like to be a guest on our show, feel free to email us at [email protected] or find us on Facebook and Instagram.

In this episode, Will, Tim and Eric decided to do something a little bit different and took a deep dive into the payday loan industry. While the hope is that listeners will never have to take out payday loans, the information provided in this episode may prove useful in conversations with friends and family members who may be considering payday loans as an option. Additionally, the information that was discovered around the predatory practices of the payday loan industry proved to be eye-opening and a little bit disturbing. Some of the topics included in this episode include: The one and only positive upside that they can find about payday loans Protections in place to protect borrowers Criminal interest rates in Canada Interest rates and fees charged by payday loan companies Alternatives to payday loans A brief introduction to instalment loans If you are a 6-Figure Millennial or want to come on as a guest, feel free to reach out to us at [email protected] or find us on Instagram or Facebook.

This is the episode where we say goodbye to Jules as her life is getting busier and busier and needed to take time off to focus on her family and work! We are so proud of her for becoming a great Mortgage broker and being such a wonderful mom to her two kids. Best of luck Jules and thanks for being apart of the Financial Classroom Canada this past year and a half. With that said, this episode we interviewed Will and his wife Jess on their financial journey! Will is the last host to not have shared his 6 figure journey yet, and it was a blast getting to know his story and how he got to where he is today financially. They talked about: - The mistakes they made in finance; - How Jess went from having a maxed out credit card to now fully understanding her finances; - Will's understanding of investing and how it was important to take advantage of compounding early in his life; - Their net worth; - What they plan to do 10-15 years down the road;  - What strategies they have implemented to get to where they are today; - Their financial mistakes; - And much more!  If you are a 6 figure millennial or someone who have is passionate about finance and wants to come on, feel free to reach out to us on email at [email protected] or on facebook or instagram