Your Life and Money

Hosted by Advice First Financial Group

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Apr 2026

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About the show

Welcome to "Your Life And Money," the podcast where we discuss Life Centered Planning and how it can help you get the best life possible with the money you have. Join hosts Tim Borody and Brad Smith as they share stories and provide expert advice on how you can achieve your financial goals and create a life that you love. With a variety of topics and stories, this podcast is perfect for anyone looking to take control of their finances and live life to the fullest. Don't wait, come listen to "Your Life And Money" because life is not a rehearsal.

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April 16, 202620 min

The Master’s Mindset: Navigating Market Volatility and Sticking to Your Game Plan (Ep. 66)

Tim Borody is back with a fresh perspective on a challenge every investor faces: market volatility. Drawing inspiration from the thrilling 2026 Masters victory and the "up and down" nature of the greens at Augusta, Tim explores why staying the course is often the hardest—but most rewarding—part of your financial journey.Staying the Course in a Volatile MarketThe Pitfalls of Market Timing: Learn why trying to "time" the market rarely works, as missing just a few of the biggest recovery days can have a devastating impact on your long-term portfolio health.The Caddie Advantage: Tim explains how working with a financial advisor is like having a professional caddie; providing an objective stance to help you navigate "stormy" conditions, manage transaction costs, and keep your emotions from driving rash decisions.Executing Your Strategy: Discover why consistency—through habits like dollar-cost averaging and rebalancing—beats reactive selling every time, ensuring your "ball" keeps heading toward the hole regardless of the wind.As you navigate the "interesting times" of the current market, join Tim to discover how a stress-tested roadmap can help you trade financial anxiety for the clarity and confidence you deserve.

April 1, 202621 min

The Tax Efficiency Crossroads (Part 2): Non-Registered Strategies & Goal-Specific Portfolios (Ep. 65)

In the conclusion of this two-part series, Tim Borody dives into the often-misunderstood world of non-registered accounts and the critical role of tax efficiency. Building on Part 1, this episode focuses on how to coordinate your investments to protect your wealth from unnecessary tax erosion while keeping your plan flexible for the transitions ahead.Navigating Tax and Legacy ObjectivesThe Versatility of Non-Registered Accounts: Tim explains the unique benefits of non-registered accounts, including their lack of contribution limits and their ability to be held jointly or corporately for maximum flexibility.Decoding the Tax Hierarchy: A breakdown of how the government treats different types of growth, explaining why capital gains and dividends are far more "tax-preferred" than standard interest income.Aligning Portfolio Jobs with Account Types: Understand why your long-term legacy goals belong in tax-free vehicles while your short-term needs require a more prudent, risk-managed approach.Whether you are saving for a first home or planning a phased early retirement, join Tim to learn how to stress-test your strategy and ensure every dollar in your plan has a specific job to do.

March 25, 202627 min

The Bucket System (Part 1): Organizing Your Short & Long-Term Wealth (Ep. 64)

Tim Borody kicks off a special two-part series focused on the foundational "buckets" of a successful financial plan. In a world of information overload, this episode moves beyond simple account names to explore how your financial structure should actually serve your life objectives—because your plan is only as strong as the clarity behind it.Mastering Your Financial StructureThe System of Buckets: Tim illustrates the "Bucket Concept"—a way to visualize your cash flow and accounts as a system of taps and reservoirs to ensure you never run dry.Liquidity vs. Stability: Understand the "Short-Term Bucket" (0–3 years) and why emergency funds and "opportunity cash" require liquid, stable vehicles like High-Interest Savings Accounts (HISAs) or money market funds.The Power of Purpose: Learn why every account—from your RRSP for retirement to your TFSA for long-term growth—must be earmarked for a specific timeline and goal to be truly effective.As you evaluate your current accounts, join Tim to discover how shifting from "having a bunch of accounts" to "having a comprehensive plan" can take the weight of financial stress off your shoulders.

February 27, 202619 min

Tax Season 2025: Turning Preparation into Planning (Ep.63)

Tax season doesn't have to be a source of stress; instead, it can be the ultimate annual check-up for your financial health. In this episode, Tim Borody walks you through the essential steps to prepare for your 2025 Canadian tax filing while shifting your mindset from simple "tax prep" to strategic "tax planning".Navigating the 2025 Tax LandscapePreparation vs. Planning: Discover the critical difference between tax preparation—the backwards-looking process of filing—and tax planning, which is a forward-looking strategy integrated into your long-term financial plan.CRA Watchlist & Digital Shifts: Stay ahead of the CRA’s push for digital filing and their increased focus on data matching for unreported income from side hustles, freelance work, and the gig economy.The "Refund" Trap: Learn why a massive tax refund isn't necessarily a win, but often a sign of poor cash flow management and missed opportunities to keep more money in your pocket throughout the year.As you gather your slips and organize your folders, join Tim to learn how to use this season as a catalyst for better financial habits and a clearer vision for the life you deserve.

February 17, 202622 min

From Fairways to Finance: Welcoming Nick Smith to the Team (Ep. 62)

Tim Borody is back for another episode of Your Life and Money to kickstart the year with an exciting announcement for the Advice First community. In this episode, Tim is joined by our newest team member, Nick Smith, to discuss the importance of aligning your career and family life with your core values—because we believe financial planning is about more than just numbers; it’s about your life.A New Chapter in Life-Centered PlanningA Strategic Career Transition: Nick shares his journey from a career in the turf industry and horticulture to financial planning, driven by a desire for professional longevity and a schedule that supports his new marriage.The "Passenger Seat" Philosophy: Inspired by watching his father’s career, Nick discusses his passion for walking alongside clients through their life transitions and helping them achieve rewarding milestones, like purchasing a first home.Faith and Financial Wellness: The duo explores how biblical wisdom and open communication can reduce financial anxiety, helping couples move from "information overload" to total clarity and contentment.As we welcome a new generation to the Advice First team, tune in to hear how Nick’s fresh perspective and dedication to financial well-being can help you keep planning for the life you deserve.

January 30, 202624 min

The RRSP Meltdown Strategy: Why Too Much Retirement Savings Can Be a Tax Trap (Ep. 61)

Tim Borody and Brad Smith are back in the studio during a frigid Ontario January to kick off the new year by tackling the "taboo" of asking simple financial questions. They dive deep into why true financial well-being isn't about knowing every nitty-gritty detail, but about gaining the clarity and confidence to make wise decisions—even if that means asking the same question every single year.The Myth of "Unlimited" RRSPs: Tim and Brad explain how the old advice of "just keep loading up" RRSPs can backfire, leading to forced withdrawals and higher tax brackets in retirement than during your working years.Understanding the RRSP/RIFF Meltdown: Learn the mechanics of a "meltdown" strategy—shifting assets from taxable RRSPs into tax-free environments like TFSAs to smooth out your lifetime tax bill and protect your estate.Creating Flexible "Pots" of Capital: Discover why having multiple pools of capital—rather than just one big RRSP—gives you the freedom to fund big-ticket dreams, like an Alaskan cruise, without losing half your withdrawal to the CRA.As you look at your own retirement accounts this year, join Tim and Brad to see how a life-centered approach to tax planning can provide the contentment that comes from knowing you're in control of your financial future.

January 15, 202619 min

A Life-Centered Look Ahead: Navigating Your Financial Journey in 2026 (Ep. 60)

Tim Borody and Brad Smith are back in the studio for another episode of Your Life and Money to kickstart the new year with the energy and insight you need to make 2026 your best year yet. As they settle back in after a "chill" holiday season focused on family and recharging, they dive into why financial planning is never just about the numbers—it’s about aligning your money with your deepest values and priorities because, at Advice First, we know that life is not a rehearsal.Kicking Off 2026 with Tim and BradMarket Resilience and the Value of Diversification: Tim and Brad reflect on the surprising strength of the 2025 markets and discuss why diversifying portfolios outside of the US into regions like Canada, Europe, and Asia may be the strategic move for 2026.Investing in Team Continuity and Succession: Brad shares the philosophy behind adding a new team member this year, emphasizing a long-term, 5-to-7-year mentorship process to ensure client families receive stable, high-quality advice for generations to come.A New Mission for Financial Literacy: Tim reveals his 2026 goal to release accessible social media videos and podcast segments that break down financial fundamentals, helping Canadians move past the fear of asking "simple" questions to make more confident decisions.As we step into this new year, join Tim and Brad to discover how these new initiatives and strategic shifts can help you gain total clarity on your journey and answer the most important question: "How much is enough for the life you want to lead?"

December 15, 2025

Cash Flow, Homeownership, and the CPP/OAS Deferral Dilemma (Q&A Part 2) (Ep. 59)

Welcome back to Your Life and Money, the podcast where financial planning goes beyond the spreadsheets to focus on what truly matters: your life. Hosts Tim Borody and Brad Smith continue their Q&A series, tackling complex questions about budgeting, debt, saving for a first home, and optimizing government pension benefits.Beyond the Budget: Saving, Buying a Home, and Maximizing Your PensionCash Flow Clarity: Uncover the five essential categories you need to track to gain control of your cash flow and how simplifying your budget helps you redirect funds toward key goals like eliminating debt or building an emergency fund.The Homeownership Playbook: Learn how to strategically use specialized savings plans like the First Home Savings Account (FHSA) and the RRSP Home Buyers’ Plan (HBP) to accumulate a down payment, including the little-known details on how non-first-time buyers can reuse the HBP.The CPP/OAS Timing Trap: Delve into the pros and cons of taking Canada Pension Plan (CPP) and Old Age Security (OAS) benefits early versus deferring them, discussing the break-even math, and how working income or pension bridges factor into this crucial retirement decision.Stop wondering if you're making the right financial decisions—this episode delivers the clarity and actionable advice you need to feel secure about your future

December 3, 202523 min

Your Money, Your Legacy: Mastering RIFs, TFSAs, and Estate Planning (Q&A Part 1) (Ep. 58)

In every episode of Your Life and Money, hosts Brad Smith and Tim Borody share expert advice to help you get the best life possible with the money you have. This episode is a must-listen as they kick off a two-part series answering the most common and critical financial questions of the year.The Tax Tangle: RIFs, TFSAs, and How to Protect Your WealthUnderstanding the RIF Risk: Learn why the money in your Registered Retirement Income Fund (RIF) is taxed as income in the year of death and how that liability can reach Canada's highest marginal tax bracket (up to 54%).Choosing the Right Beneficiary: Explore the options for naming beneficiaries—from spousal rollover to naming children or a charity—and the specific tax implications for your estate in each scenario.The Power of Successor Holders: Discover the critical difference between naming a beneficiary and a successor holder on a Tax-Free Savings Account (TFSA) and how the latter is key to preserving the tax-free status for your surviving spouse.Whether you are accumulating wealth or distributing it, the decisions you make today on your registered accounts will define the value of your legacy—tune in to ensure your wealth plan is perfectly aligned with your life and priorities.

November 14, 2025

Is the 60/40 Portfolio Dead? A Talk with CIO Theresa Schott (Ep. 57)

Welcome back to Your Life and Money, where we believe that financial planning is not just about the numbers—it's about your life. Host Brad Smith is joined by a special guest: Theresa Schott, the Chief Investment Officer (CIO) at Harbourfront.Theresa, who runs all of Harbourfront's investment pools, discusses her move from managing institutional capital for 20 years to bringing those same sophisticated strategies to retail investors. She dives into the structural problems facing traditional investment approaches and highlights the new opportunities created by the rise of AI.Institutional Strategies for Retail Investors: Breaking Down DiversificationThe End of 60/40? Find out why the traditional 60/40 stock-bond split is no longer an effective diversifier and is either "dying or on its way" because equities and bonds now show a far more positive correlation during market volatility.The AI Opportunity and Risk: Get Theresa's take on the AI revolution, the enormous capital expenditure (CapEx) being spent on infrastructure like data centers, and why she's concerned about the high concentration risk in the current U.S. equity markets, where a handful of stocks account for over 36% of the S&P 500.The Private Market Solution: Learn why institutional investors allocate 55% to 60% of their total wealth to private markets, and how retail investors should consider allocating anywhere from 5% to 30% to private assets to achieve a lift in returns, more predictable cash flow, and lower volatility.The Risk of Illiquidity: Understand the key risk in private markets—the illiquid nature of the assets (like a marriage, "it's not a one night stand")—and how rigorous due diligence on managers is essential to find the right long-term partner.Financial planning is about more than just money—it's about living the life you want. Take some time to reflect on your goals and priorities, and tune in to discover the insights and strategies that will help you create a plan that aligns with your vision for the future.