Our guest this episode is Barry Choi, the ultimate expert on all things credit card points and loyalty programs in Canada. You may also know him from his frequent TV appearances or his personal finance website www.moneywehave.com.

In this episode Dave asks Barry everything Canadians need to know about credit card points and loyalty programs including which programs offer the most lucrative sign-up bonuses, tips for how to maximize the value of your points, which card is best for travel and much, much more.

This is a highly informative episode and you’ll be sure to take away a few valuable tips by listening.

Show Notes

00:00 – Intro & Disclaimer

00:56 – Intro to Barry Choi

03:02 – Loyalty Programs and Data

06:35 – Learn a Few Programs Inside Out

08:51 – Transferring Points to Increase Value

10:47 – Credit Card Points as an Employee Benefit

12:04 – Tips to Maximize Points

14:39 – How to Optimize Points for Travel

17:12 – Which Credit Card is Right for You

18:56 – Sign-Up Bonuses

22:16 – Dave’s Reservations About Credit Cards

25:32 – High-Income Canadians with Credit-Card Balances

28:01 – Barry’s Spending

30:02 – When Barry Took His Family to Hong Kong

34:09 – American Express

37:37 – Dave Doesn't Use Airport Lounges

38:26 – Non-Point Benefits

41:20 – The Lifecycle of a Fintech Company

42:25 – Consumerism & Stuff

45:49 – Donating Loyalty Points

46:58 – Fraud with Loyalty Points

48:37 – Conclusion

Our guest this episode is Ben Felix—Chief Investment Officer at PWL Capital and co-host of “The Rational Reminder” podcast. You might also know him from his popular YouTube channel where he creates meticulously researched videos on investing, financial decision-making and living a good life (although you may not recognize his stunning new hairstyle!).

In this episode Dave and Ben dive deeply into the world of investing. They cover everything from active versus passive styles to why CPP is a one-of-a-kind asset to why people underperform so badly in mutual funds and much, much more.

This is a must-listen episode featuring two of Canada’s top financial educators.

Show Notes:

00:00:00 – Intro & Disclaimer

00:00:55 – Intro to Ben Felix

00:04:25 – Ben’s New Hair

00:05:50 – Why Is It So Difficult to Beat the Market?

00:08:02 – Why It's Hard for Active Managers to Consistently Outperform

00:11:42 – “Buy the Haystack” (Passive Investing)

00:13:55 – The Market is Forward Looking

00:17:45 – Why Dave & Ben Don't Listen to Market Forecasts

00:21:46 – Dave's Only Market-Timing Story (Gone Wrong)

00:25:22 – Performance Gaps for Individual vs. Fund Performance

00:29:55 – Lump Sum vs. Dollar-Cost Averaging

00:35:18 – Everyone's Risk Tolerance is Different

00:36:56 – Countries With High Economic Growth ≠ High Stock Returns

00:41:35 – Beware of High Growth Industries & Thematic ETFs

00:46:00 – The Difference Between Investment Planning & Financial Planning

00:51:20 – How Can Everyday Canadians Get Good Financial Advice?

00:55:44 – Trust is Key in Financial Planning

00:57:26 – Why a 2% Mutual Fund Fee Is So Costly

00:59:11 – Canadian Banks

01:01:19 – Keep it Simple! Complexity Underperforms

01:04:09 – Venture Capital

01:05:42 – Can the US Market Continue to Outperform?

01:13:36 – Robo-Advisors

01:17:44 – Would Ben Ever Be a Landlord?

01:20:00 – CPP – Four Reasons Why You Should Wait to Take It

01:26:11 – Conclusion

Our guest this episode is Jessica Moorhouse—a Canadian personal finance creator, host of the “More Money Podcast,” and soon-to-be-published author of the book “Everything but Money: The Hidden Barriers Between You and Financial Freedom.”

In this episode Dave and Jessica discuss how our emotions and past experiences affect our relationship with money including bad financial habits people learn from their parents, biases that get in our way, why the financial industry benefits from making it seem more complicated than it is and much, much more.

Don’t miss this engaging discussion with Jessica Moorhouse.

Show Notes 00:00 – Introduction 00:56 – Jessica's Background 03:21 – How Jessica's Podcast Started 05:51 – Jessica's Upcoming Book 11:43 – Bad Money Habits We Learn From Our Parents 15:34 – Money and Shame 17:18 – How to Take Control of Your Relationship with Money 19:07 – Status Quo Bias 22:15 – Anyone Can Learn to be Good With Money 24:33 – Overconfidence Bias in Young Men 27:02 – Women and Investing 29:02 – Emotions and Investing 31:51 – Index Investing & Fintech 33:51 – Focus on What You Can Control and Don't Give Up Hope 38:10 – Living in Toronto 40:37 – The Best Financial Educators Are Truly Trying to Help 43:55 – Happiness and Financial Planning 46:39 – COVID 49:18 – Where to Get Jessica’s Book