Money See Money Do

02/07/2024

https://youtu.be/4JILxxafqtg?si=ly4iII-3VDMZsKbd

In this video, I touch on the world of capital gains, explaining the difference between realized and unrealized gains in a simple, relatable manner. I demystify how Capital Gains taxes work in Canada, making it easy for you to grasp and make informed financial decisions. I highlight the importance of managing your taxable capital gains and offer some valuable strategies to minimize tax. Don't hesitate to contact me if you have any questions about what you see in this video or something in your financial situation. Having someone with experience in your corner that you can bounce questions or ideas off of, can be a tremendous resource. Because simple, just isn't that simple anymore.

In this video, Tim Gendreau, a Senior Financial Advisor with nearly 30 years of experience in the wealth industry, dives into the world of capital gains taxe...

12/28/2023

It’s been a little over a year since I decided to step outside of my comfort zone to create some of my own video content. I can confirm that you actually can teach an old dog news tricks but its doesn’t come without a few speed bumps. big thanks to Chris and Gabe at Amber Pacific Studios for their efforts to try and make me look good and keeping it fun. Can’t wait to what 2024 has in store for us.

It’s been a little over a year since I decided to step outside of my comfort zone to create some of my own video content. I can confirm that you actually can...

12/18/2023

‘tis the season, and with Christmas just around the corner and freshly minted New Year’s resolutions in your back pocket, ready to go, I thought this would be a perfect time to drop this video on how a digital detox can save you money in 2024. If you’re like me and the Amazon guy has been at your house so often you’re thinking of inviting him to Christmas dinner, you should probably take a couple of minutes out and check out this video.

Join Tim Gendreau, who is a Senior Financial Planner that is worked in the wealth industry for the past 30 years for another addition of Money See Money Do. ...

11/22/2023

In this short 60-second video, I touch on systematic risk and its role in your portfolio. Being aware of it and its impact can help you manage emotions at a time when knee-jerk reactions can have a negative long-term effect on your overall portfolio.

Hi, welcome to another edition of Money See Money Do. In this very short video, I touch on systematic risk and the role it plays in your portfolio. Being awa...

11/16/2023

When it comes to tracking down, your idea of a perfect planning relationship, deciding between local and virtual advising is key. Let your comfort with tech, service preferences, and desired expertise be your compass. The beauty of technology is It breaks location barriers, giving you access to the expertise you want for your unique financial situation.. No matter where you are, knowledge is a click away! Virtual advising opens doors to specialized skills , down the street, in the next town, or even in another province. At the end of the day, finding the right professional, that you trustto come alongside, and provide you with the advice you need to make great financial decisions is what’s important, whether that be face-to-face, virtually, or a combination of the two. If you have any questions about what you’ve seen in this video or questions about your own financial situation, don’t hesitate to reach out to me.

Welcome to Money See Money Do! I'm Tim Gendreau, a Senior Financial Advisor with almost 30 years in the wealth industry. Today, we're exploring a key questio...

11/09/2023

Ever wondered how to start getting your retirement savings out of your RRSP? Well, that's where RRIFs come into play. These are like your retirement income pipeline. But here's the twist – there's this thing called the RIF minimum withdrawal, and it changes every year. And although the formula isn’t as guarded as the Kentucky fried chicken recipe, it can get a little bit complicate. No worries, we've got you covered with a quick 60-second video explaining it all!"

A Registered Retirement Income Fund (RRIF) is a Canadian retirement account designed to provide an income stream during retirement. It's created by convertin...

10/18/2023

In keeping with it being Estate Planning Awareness month, I wanted to touch on a topic with a lot of misconceptions, "What to do with the family cottage when it comes to your estate plan." Whether it's a rustic cabin tucked away off the grid or a slightly more upscale retreat, cottages hold a unique magic. But much like everything else in life, there are some serious questions to consider when it comes to the family cottage, and I’m not just talking about who’s packing the bug spray. Questions like, how does the cottage fit within your estate plan? Can you afford to pass it down to younger family members, or do you need or want to sell it? Do your heirs even want it? And what are the tax implications involved in transferring ownership of the property? These are some of the questions I tackle in this video.

Welcome to Money See Money Do! I'm Tim Gendreau, a Senior Financial Advisor with nearly 30 years of experience. Today, diving into something that can be very...

09/26/2023

LAST WEEK IN THE MARKETS - week ending September 22nd.

Global stock markets took a dip Last week, mainly due to concerns that the U.S. Federal Reserve might keep interest rates high for a while, making investors a bit uneasy. In Canada, the stock market, especially the Information Technology sector, felt the pinch. Even in the U.S., the overall stock market, as measured by the MSCI USA Index, had a downturn. Interestingly, oil and gold prices remained steady throughout the week. On a related note, bond yields for both Canada and the U.S. saw a slight rise.

Shifting gears to Canada, inflation has been on the rise, hitting 4.0% in August, surprising the economists. Gas prices and rental expenses played a big role in pushing up inflation. Even when we look at the core inflation, excluding the wobbly stuff, it saw a bit of a hike, too. The Bank of Canada, keeping an eye on this, is cautious and ready to make a move if needed.

Now, in the U.S., the Federal Reserve had its meeting and decided to keep interest rates where they were. However, another rate hike might happen later this year to keep inflation in check.

Across the pond in the U.K., the Bank of England also decided to hold steady on rates, a bit unexpected given their recent trend of hiking rates. They believe this strategy has helped fight inflation, but they’re still watchful and ready to adjust if needed.

Lastly, we’re seeing a slowdown in global manufacturing, and it’s a bit worrisome. Demand seems to be not as high, especially due to tighter financial conditions, which is a significant concern for the global economy. This struggle is noticeable in the U.S., Europe (like Germany), and Japan, all facing challenges in their manufacturing sectors.

If you have any questions about your portfolio and how it is positioned to take advantage of current market conditions, please don’t hesitate to reach out to me at the contact information I’ve included.

08/31/2023

Talking about the Dunning-Kruger effect without sounding like a total jerk can be challenging, right? I mean, how on earth do you politely tell someone, "Hey, you're an overconfident nincompoop"? In Ben LeFort's article "Confidently Wrong: How the Dunning-Kruger Effect Impacts Your Money," he says it reminds him of Cousin Greg from the TV series Succession, who once asked, "Do you think it's possible to sue a person in an affectionate way?" But here's the thing: falling prey to the Dunning-Kruger effect doesn't automatically earn you the title of "Idiot of the month," no, not at all, because the Dunning-Kruger effect comes knocking for us all sooner or later, ready to make us all feel a bit foolish. If you don't, believe me, I've got a shed I built in the backyard that doesn't have a square corner in it and is miraculously still standing, although I wouldn't suggest using it to take cover in a storm.

In this video, I delve into the fascinating world of behavioural science and how it intersects with investing. Get ready to explore the Dunning-Kruger effect, a cognitive bias that can profoundly impact our investment choices. Join us as we discuss how this phenomenon can lead to illusions of knowledge, overlooking mistakes, and oversimplifying the complexities of investing. I also share some practical strategies to mitigate the influence of the Dunning-Kruger effect, such as self-awareness, continuous learning, seeking expert advice, and embracing a growth mindset.

Talking about the Dunning-Kruger effect without sounding like a total jerk can be quite the challenge, right? I mean, how on earth do you politely tell someo...

08/26/2023

Happy Friday, everyone, with only a couple of weekends left in the summer. We decided to keep things light and countdown our 5 favorite rags-to-riches flicks. Have a great weekend with your families.

Welcome to a brand-new large popcorn-sized episode of Money See Money Do! Today, I'm keeping it light. Join us on a Hollywood-style adventure as we reveal ou...

06/26/2023

Hi, In this video, I share my top 7 favourite books on the HISTORY of money and investing. These books provide a fascinating look at the good, bad, and ugly of the markets throughout history. From Manias, Panics, and Crashes to The Big Short, each book offers unique insights into the financial system's ebbs and flows. By reading or listening to these books, you'll gain a deeper understanding of the economy throughout the ages, which in turn will give you more confidence in making investment decisions today. As always, if you have any questions about this video or your own financial situation, please feel free to reach out to me.

Money See Money Do host Tim Gendreau shares his top 7 books on the history of money and investing. These books provide a fascinating look at the good, bad, a...

05/18/2023

Hi all! Let's talk about what happened in the global equity markets last month. It was a ride with more ups and downs than a seesaw. Investors were all worked up about the potential interest rate hikes by the U.S. Federal Reserve Board and other central banks, which showed in the market sentiment. But hey, the good news is that things eventually ended on a high note!

First Republic Bank announced a 42% drop in deposits in the first quarter and sent regulators into a tizzy (is tizzy a word a grown man should using? Next thing you know, I'll be dropping a Whoops, a daisy on you). JPMorgan Chase & Co stepped in and saved the day by acquiring the bank. Crisis averted!
Moving on, there were no major meetings by the Fed, Bank of England, or European Central Bank in April. But the Bank of Canada, Bank of Japan, and People’s Bank of China kept things steady by holding their key interest rates.

Inflation subsided in March but remained elevated, which is a fancy way of saying that things aren't as bad as they used to be, but still not great. Global labour markets were strong and kept consumer strength afloat. And we got some mixed results from the manufacturing and service sectors.

The S&P/TSX Composite Index and the S&P 500 Index both posted gains, with all sectors delivering positive returns. The price of oil and gold ticked higher over the month, which is great news if you're in the mining or oil business, but not so great when you’re filling up at the pumps.

Okay, now let's talk about something serious. The world's largest economies announced their first quarter GDP growth rates, and things are expanding at a slower pace. The U.S. economy grew at an annualized pace of 1.1%, which is more of a jog than a sprint. But hey, our U.S. consumer friends to the south drove most of the consumer growth, so let's give them a high five for engaging in a little spending therapy. And China's economy got a boost from easing lockdown restrictions, so let's raise a glass of Baijiu to them as well! (Don't ask me what Baijiu is, but apparently, it's the national drink and something they've been making for the past 5000yrs).
Inflation pressures in Canada and the U.S. are easing but still, well above the targets the Bank of Canada and the US Federal Reserve set. Canadians feel the pinch, with retail sales dropping and households cutting back on spending. And Americans are having difficulty getting credit this year compared to last year. As always, keeping your head when it comes to financial decisions during volatility almost always wins the day.