In this episode, Jim, Ryan, and special guest Josh Brooks discuss Josh's journey in the mortgage industry and his transition to a client-facing role. They explore Josh's motivation and passion for mortgages, emphasizing the importance of building relationships with clients. They also highlight the valuable lessons Josh has learned from working with John and the TVH team, including the balance between communication and timing. The conversation delves into the collaborative nature of the TVH group and the efficiency of working with multiple professionals under one roof. Finally, they discuss the ..read more

In this conversation, Jim and Ryan discuss the importance of behavioral biases in financial decision-making. They highlight the impact of behavior on financial success and the common biases that can derail financial plans. They delve into specific biases such as hurting, endowment effect, present bias, selective attention, illusory superiority, and social desirability bias. They also introduce the concept of money mindsets, including the brick wall, bunker, justifier, dreamer, undercover agent, masquerader, and optimist. They emphasize the value of understanding one's money mindset and how it ..read more

Well, what a difference a few months can make. With March 2020 sure to go down as one of the most volatile months on record with 3 interest rate cuts totaling 150 basis points in declines this really is a once in a generation kind of interest rate situation. With the markets in complete turmoil and our finances teetering on the brink I would say (tentatively) that we have some light at the end of the tunnel. The next few months will tell us if this is the road to recovery or simply an oncoming freight train. So while we’re not out of the woods yet the markets have now seen two bank announcemen ..read more

In this episode find out about my history leading to my diagnosis which lead to my open heart surgery. I was months away from dying and didn't know it. --- Send in a voice message: https://podcasters.spotify.com/pod/show/tvhfinancial/message ..read more

This is an introduction to the Tortoise and the Hare Financial Podcast hosted by Jim Lao. --- Send in a voice message: https://podcasters.spotify.com/pod/show/tvhfinancial/message ..read more

Summary This conversation explores the topic of reverse mortgages, a financial instrument that is often misunderstood and underutilized. The hosts, Jim and Ryan, are joined by John, a mortgage broker, to discuss the benefits, eligibility criteria, and misconceptions surrounding reverse mortgages. They emphasize that reverse mortgages should be considered as a viable option, not just a last resort, for retirees who want to age in place and maintain financial flexibility. The conversation also touches on tax benefits, accessing capital, and the steps involved in setting up a reverse mortgage. O ..read more

Summary In this conversation, Jim and Ryan discuss the importance of mastering your money and the power of behavioral cash flow planning. They highlight the limitations and challenges of traditional budgeting and the benefits of a cash flow plan. The conversation covers various signs that indicate the need for a behavioral cash flow plan, including lack of a fully funded retirement plan, retirement goals based on income replacement rather than projected expenses, inadequate life insurance coverage, and unstable car leasing or loan terms. They also discuss the importance of maximizing TFSA con ..read more

In this episode, Jim and Ryan share five smart spending tips to help manage holiday spending effectively. They discuss the cost of the holidays and the importance of setting a budget. They also provide insights on leveraging sales, being mindful when shopping, and rethinking credit card use. Additionally, they emphasize the value of utilizing gift cards, participating in holiday gift exchanges, and making group donations. They encourage listeners to incorporate smart spending habits into their everyday lives and highlight the benefits of behavioral cashflow planning for the new year. Takeaway ..read more

Summary In this conversation, mortgage broker John Sowerby discusses the current economic landscape, the Bank of Canada's interest rate decisions, the similarities to the 2008 financial crisis, the implications for the real estate market, Ottawa's fiscal update and mortgage stress test, tightening lending and qualification, consolidating debt and refinancing, and the outlook for 2024. The conversation highlights the importance of building relationships in the mortgage industry and the value of personalized service. It also emphasizes the need to contact John for mortgage-related questions and ..read more

Does this sound familiar? ●I have debt, but also want to save for my future. ●I’m not sure where my money goes at the end of the month. ●I’m nearing retirement, and I’m not sure if there is anything more I can do to prepare. ●I make great income, but I feel like I should get more out of it. In this episode we will discuss: ●The flaws of budgeting ●Smarter spending strategies ●Debt reduction & tips ●Finding money for your goals --- Send in a voice message: https://podcasters.spotify.com/pod/show/tvhfinancial/message ..read more