Preet Banerjee: All Things Canadian Personal Finance | The Wealthy Barber Podcast #1

[@sylvanaherrera8450]

Brilliant podcast! I loved this episode! thank you for sharing great information. I look forward to more.

[@danbarrett6387]

Did anyone hear what Preet said...."Commission based advice is usually SALES BASED. They don't usually have your best advice at heart." Dave and Preet are HELP based - giving advice freely with no expectation of return. Always know the idfference.

[@davidblack6413]

The only thing better than listening to or reading Dave or Preet separately is to witness these two icons of personal finance in Canada speaking together. Very glad to see Dave taking the Wealthy Barber sensibility to KZbin and podcasting.

[@TheWealthyBarber]

Appreciate your kind words!

[@russellmitchell]

Great discussion but what's most important is that you both have great hair.

[@dstevens518]

Two of my favourite financial advice guys together, excellent episode. Had no idea Preet had a life-threatening event that shaped the way he approaches life and work, but definitely intuitively aware he's always come across as helpful, rather than trying to reach into your pocket. Keep up the great work, both of you, Canadians need your advice now more than ever.

[@lisemac6763]

Thanks so much for this. Really enjoyed it!

[@lifeandloveinmidlife]

This is a brilliant podcast. I had the privilege of not only meeting Preet but being on a television show back 12 years ago called the Million Dollar Neighbourhood. The wealth of information I learned from Preet and the experience of the show is invaluable to this day. Preet is a great guy and brilliant. Dave & Preet = two handsome, clever, brilliant men with great hair 😉

[@TheWealthyBarber]

Appreciate that!

[@pilotgirl5953]

Excellent! I’ve given your books out to those who ask about financial advice as I’ve done well following that advice. Subscribed. ❤

[@derrick8224]

Fabulous podcast. I have been learning from you David for 30+ years. Thank you

[@sarahbarrett7732]

I really enjoyed this podcast! Thank you to both of you for sharing your financial advice and wisdom!

[@TinaOswald-p4k]

Great first podcast! I’m looking forward to hearing many more.

[@danbarrett6387]

Preet knows the true meaning of success. He will pass peacefully, lived true to himself and will have no regrets.

[@rohitmenon4052]

Two of my absolute favorite personal finance bros.

[@GarryMurray-i1y]

Excellent. Thanks.

[@garthsproule1135]

Great show guys! I hope that for the upcoming episode regarding "the great CPP debate", that you might consider asking Bonnie Jeanne Macdonald from the National Institute on Aging, to be your expert guest. She is the GOAT.

[@TheWonderfulMe-gf5ry]

Loved it! Keep it coming!

[@CalmPlains]

Great video. This channel is going to explode in popularity.

[@TheWealthyBarber]

Appreciate your support.

[@teenidol18]

Great stuff. I remember the Press Release saying these would be released Daily. Does that include weekends and statutory holidays?

[@kelownasteve337]

Great first guest!! And I say that with more emphasis on the word 'great' and not the word 'first'. I don't include the word 'first' in my comment to mean that the next ones will be better. It's just coincidental that Preet is the first guest and, at the same time, a great guest. Anyway. Where was I? Oh yeah. What's the deal with money?

[@mrwhy8073]

Great 52 minutes of my life I cant get back!!😂

[@cleanairninja9256]

I think the only benefit of mutual funds is they help remove the negative aspects of "emotional investing." How? Well, when you make a deposit into a mutual fund, it is locked in for 90 days! You can't technically day trade a mutual fund because of this. By having the money locked in for 90 days it does remove the temptation to sell on a "bad news" market day. In the past I had money in a Vanguard S&P fund but sold out when the market had a mini-crash. I've been in a Mawer US Equity mutual fund ever since. I just deposit money once a year and leave it alone. I don't do as well as the Vanguard etf but I don't sweat the bad news cycles anymore.

[@danbarrett6387]

Dave, good information. Who gave you the course on using your hands/head tilts/eye browse raise to emphasis your talking points? LOL....

[@spencerkanen5975]

David during the conversation you talked about your employers RRSP plan. I have always maxed this out. However I also put more in to it out of my pay. Did you say it would be best to only max to the employers match and anything else put into my other plans. Can you explain this. Is it because the employers plan charges excessive management fees?

[@UnBarbierRiche]

Always maximize the employee match since you can't beat 100% return. After that, it depends on the options/fees that your employer's plan offers and your personal investing acumen. Many people choose to invest in low-cost passive ETFs if their employer plan only offers high-cost active funds to capture more of the market returns.

[@jwarnstarsmile]

I really like Canadian in a Tshirt on KZbin. He inspired me to open up a brokerage account to take control of my investments with low costs, while also adding in simplified breakdowns of things like REITs & DRIPS.

[@TheWealthyBarber]

He’s great!

[@elevenspace6327]

Coming from reddit

[@didafm]

It is interesting you mention how hard it is to he single person. The ironic thing is that somethiny like 70% of men under 30 are single. Of course i would guess a large number still live with their parents

[@joshuahankins2613]

I am 23 in Waterloo Region and I dont know anyone that is finished school and doesnt live at home. You mention two teachers even they would be streched to afford a detached in this region unless they are both 35 at the max pay scale. I am in a career also with a pension that will eventually top out at 134k in 12-15 years and it seems that unless I find someone with a similar income and trajectory it is not feasbale to afford a home and raise kids. Its hard enough just getting a home. Basically impossible to stay to the old guidline of 30% on housing that has been used for decades.

[@danbarrett6387]

Most can't save for a house at these prices. Anything is better than nothing but I'd rather have my child have more control over the money that would be put into the housing plan. Thoughts?

[@joshuahankins2613]

It has become normal to live at home I know Nurses, Paramedics, Police Officers etc. all high paying jobs over the average family income of around 110k in Waterloo Region living at home.

[@TerryZhang1]

PFC gang where you at?

[@danbarrett6387]

Let's have a depression. Raised by parents of a depression puts a whole different perspective about growing financial knowledge in regards to buying needs vs wants, etc. A nice 3 year depression will wake up a lot of people sadly.