Your finances deeply affect your mental health. 

Sometimes you just sense this when you get into financial troubles.. and then it gets real uncomfortable real quick..

It is really important for me to emphasize that there is help out there right now

How can you face your troubles and feel more stable and resilient in the future ?

How can you address your debt ?

How can you start saving and maybe even start investing with just little money ?

And most importantly: 

WHO can you trust with your finances (outside of the bank) ??

Enjoy this interview with Clinton Johannesson, financial adviser and inspiration for people from all walks of life

how to contact Clinton Johannesson

on Messenger / Facebook

phone 780-619-0102

email: cjohannesson09rswc@wfgmail.ca

With love

Aurora

Books mentioned

Darrin Hardy

The entrepreneur Rollercoaster

The compound effect

https://www.amazon.ca/Compound-Effect-Multiply-Success-Simple/dp/B07MWDND9S/ref=sr_1_1?dchild=1&keywords=darren+hardy&qid=1622821593&s=books&sr=1-1

10 secrets Canada Revenue doesn’t want you to know 

https://www.amazon.ca/Secrets-Revenue-Canada-Doesnt-Want/dp/0973130709

Also 

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Free yourself from the ongoing destructive inner chatter become the strongest most authentic version of yourself.

Let’s dive in and find out more about this juicy topic that will most likely affect you in one way or another. 

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Unknown: 00:00:08

Hello, and welcome to the Borealis experience. I'm

Unknown: 00:00:11

your host Aurora, and I'm very excited to have Clinton with me

Unknown: 00:00:16

today, we will be talking finances, your financial health

Unknown: 00:00:22

is so incredibly important when it comes to your relationships,

Unknown: 00:00:27

but also your own health, your mental health. And this is why I

Unknown: 00:00:32

want to raise awareness that there are so many people out

Unknown: 00:00:37

there who have the knowledge and who are willing to help you,

Unknown: 00:00:42

sometimes even for free, like in this case here with Clinton

Unknown: 00:00:46

today to make you aware of how to get rid of your debt, on how

Unknown: 00:00:56

to get a mortgage, and how to be more stable when it comes to

Unknown: 00:01:02

your finances. And this, in turn, will help you to live a

Unknown: 00:01:07

more fulfilled life. Hi, Clinton. Here, Hey, are you

Unknown: 00:01:14

today? I'm doing awesome. I'm very excited to be doing this

Unknown: 00:01:18

episode with you. Because I know it's very important for people

Unknown: 00:01:22

to hear your message. And yeah, to learn about what people,

Unknown: 00:01:29

wonderful people like you are doing out there and supporting

Unknown: 00:01:33

people with their finances.

Unknown: 00:01:37

Awesome. Well, yeah, thanks a lot for having me again. This is

Unknown: 00:01:40

my second episode. So I'm very appreciative. I really like your

Unknown: 00:01:45

podcast, I've been telling lots of people that they're great.

Unknown: 00:01:48

And I need to check it out. So yeah, like I said, I'm I'm very

Unknown: 00:01:50

happy to be here again. And so thanks for having me.

Unknown: 00:01:53

Yes, thank you for making the time. So let's just jump into

Unknown: 00:02:02

the most juiciest part of finances. When it comes to debt.

Unknown: 00:02:08

I think most of us people out there have debt. And how would

Unknown: 00:02:17

you say? Can debt be aggressive? aggressive? I wanted to say but

Unknown: 00:02:22

addressed quickly? How can a person feel more stable and

Unknown: 00:02:29

comfortable when it comes to their debt and trying to Yeah,

Unknown: 00:02:34

tackle it.

Unknown: 00:02:37

So I mean, you know, that from one person to another can be you

Unknown: 00:02:43

know, there's a big difference between them. So sat down with

Unknown: 00:02:46

someone who was just stressed out with their debt, they didn't

Unknown: 00:02:49

know what to do. And she only had 15 $100 that she owed, it

Unknown: 00:02:52

wasn't very much when she was stressed out. And I could tell

Unknown: 00:02:55

she was very stressed out about it. But I reassured her you

Unknown: 00:02:58

know, actually, you're actually in a pretty decent situation

Unknown: 00:03:02

statistics across Canada right now. So, you know, the average

Unknown: 00:03:06

family is $30,000 in debt. It's probably more than that now. So

Unknown: 00:03:12

there's, you know, there's a lot of debt problems in Canada. And

Unknown: 00:03:17

there's just, there's, there's help out there. People don't

Unknown: 00:03:19

know that there's help or where to look, but there's help, you

Unknown: 00:03:22

know, whether it's budgeting, you know, trying to show them

Unknown: 00:03:26

you know where to spend money, we're not to spend money, that's

Unknown: 00:03:28

great as well. But you know, when it does come down to debt,

Unknown: 00:03:32

there's different options. So depends on how much debt you

Unknown: 00:03:35

have, or what you want to do with your debt. But there's a

Unknown: 00:03:38

lot of different options. You know, bankruptcy, obviously, is

Unknown: 00:03:40

the last option. You don't want to go that route unless you have

Unknown: 00:03:43

to, but you know, there's consumer proposals. There's debt

Unknown: 00:03:47

consolidations, you know, there's loans you can get

Unknown: 00:03:49

personal loan on, you can even wrap up your more your debt into

Unknown: 00:03:53

your mortgage, and if you have enough credit, but yeah, there's

Unknown: 00:03:57

a lot a lot of areas where we can help people adapt. And I've

Unknown: 00:04:00

been, you know, obviously, the economy here in Alberta, in

Unknown: 00:04:03

Canada hasn't been the greatest. It's been the worst I've seen

Unknown: 00:04:06

ever since I've been alive. Um, and yeah, more and more people

Unknown: 00:04:10

nowadays are reaching out and needing help, because it's

Unknown: 00:04:13

really, you know, it's a tough situation right now. And I'm

Unknown: 00:04:15

always happy to help people. And obviously, you know, I sit down

Unknown: 00:04:19

with people and help them either save money or have more money,

Unknown: 00:04:22

help them out with their debt, and, you know, changes their

Unknown: 00:04:26

lives. They're happy about it, they really appreciate it. And

Unknown: 00:04:28

it also makes me feel good for helping people. That's one of

Unknown: 00:04:32

the reasons why I do what I do is because you know, financial

Unknown: 00:04:34

health is important. And it's one way that I can actually give

Unknown: 00:04:37

back to the community and help out.

Unknown: 00:04:40

Beautiful. Just for the interview here. We had a little

Unknown: 00:04:44

chat. We were talking about divorce and how it is very

Unknown: 00:04:49

difficult for people. Yeah, going, the emotional stress of

Unknown: 00:04:54

divorce, but then also the financial stress that can be

Unknown: 00:04:59

enormous. What are the experiences with clients that

Unknown: 00:05:03

you've made there?

Unknown: 00:05:05

Yeah, so I mean, obviously, you know, people don't think about

Unknown: 00:05:09

financial health as a health issue. Of course, it's money,

Unknown: 00:05:13

you know, people worry about their wage or eating habits, or

Unknown: 00:05:16

they're exercising all that help, but when people, you know,

Unknown: 00:05:20

looking at financial health, you know, people that are, are in

Unknown: 00:05:23

debt, or they're struggling, you know, that causes them stress.

Unknown: 00:05:27

Stress can, you know, lead to depression, anxiety, you know,

Unknown: 00:05:30

social disorders, know, a lot of people actually, when they are

Unknown: 00:05:35

in debt, you know, what changes them as a person, they don't

Unknown: 00:05:37

feel whole, they don't feel complete. Um, but yeah, and then

Unknown: 00:05:41

when it comes to marriages, like, I'm not sure the exact

Unknown: 00:05:43

statistic, but I read recently, somewhere, I think it's like,

Unknown: 00:05:46

50%. You know, most all marriages in Canada, you know,

Unknown: 00:05:51

50% of them end up in divorce. And that is a stick. But we've

Unknown: 00:05:58

been finding, you know, the number one reason why people are

Unknown: 00:06:00

getting divorced, nowadays is, is due to finances, you know,

Unknown: 00:06:05

something happens, a guy gets laid off, or, you know, he

Unknown: 00:06:08

doesn't have work or something, all of a sudden, you know, bills

Unknown: 00:06:11

aren't getting paid, you know, families not taken care of, and

Unknown: 00:06:14

it causes stress in the household, you know, there's

Unknown: 00:06:16

fights, there's all that stuff. So that's, you know, that's kind

Unknown: 00:06:19

of one area. That's, you know, making divorces, rates go up

Unknown: 00:06:25

there. And I mean, it's, it's a huge thing, especially today,

Unknown: 00:06:28

because of the economy. You know, we recently in Alberta had

Unknown: 00:06:31

the oil crash, you know, a lot of jobs were lost, a lot of

Unknown: 00:06:34

companies left Alberta, a lot of people were laid off, and in

Unknown: 00:06:38

return now, because all these people aren't working, you know,

Unknown: 00:06:41

people aren't spending the same money companies aren't, you

Unknown: 00:06:43

know, buying stuff. So it affected all industries, such

Unknown: 00:06:47

as, you know, the construction industry, you know, people like

Unknown: 00:06:50

I said, and retail and restaurants, you know, no,

Unknown: 00:06:52

people aren't spending as much money in those areas. So, it's

Unknown: 00:06:58

affecting all industries. So that's, you know, that's a big

Unknown: 00:07:02

factor. So yeah, like I said, when it comes to financial

Unknown: 00:07:06

health, and divorces and stuff like that, you know, finances

Unknown: 00:07:10

are a big thing. So I mean, I've been following a Alberta Family

Unknown: 00:07:15

Law page. And I've been seeing a lot of single dads or whatever

Unknown: 00:07:19

struggling like they're, they're making like $100,000 a year, and

Unknown: 00:07:23

they're, you know, renting an apartment sitting on a on a polo

Unknown: 00:07:28

chair, because they have to give all their money to the mom and

Unknown: 00:07:31

the kids to raise the kids and stuff. I mean, obviously, you

Unknown: 00:07:34

know, you don't want to your family to go without supplies,

Unknown: 00:07:37

they need money, meaning no, it's it's not a system that's

Unknown: 00:07:40

helping people in a lot of people are struggling because of

Unknown: 00:07:43

it. And, yeah, like it, like I said, that leads to a lot of

Unknown: 00:07:47

stress. I mean, the I'm not sure if other people know this as

Unknown: 00:07:51

well, but the suicide rates in men right now are skyrocketing.

Unknown: 00:07:57

You know, like I say, when people are stressed out, they're

Unknown: 00:07:59

in debt, they don't know where they're getting money from, but

Unknown: 00:08:02

everyone's asking him or forcing them to pay the money. They

Unknown: 00:08:05

don't have it, you know, causes huge stress. And like I say, a

Unknown: 00:08:08

lot of people are, you know, it's sad. And I see a lot of

Unknown: 00:08:11

like, single dads were happy people, happy family, man, and

Unknown: 00:08:15

they will commit suicide because they don't know what to do. So

Unknown: 00:08:19

obviously, you know, that's something I want to prevent.

Unknown: 00:08:23

Well there and help people their finances so that they, you know,

Unknown: 00:08:26

they this, they do see the light at the end of the tunnel. It's

Unknown: 00:08:29

tough right now, and people just need to understand there's help

Unknown: 00:08:32

out there. So,

Unknown: 00:08:34

yeah. Oh, man, I didn't. I mean, I was imagining that mental

Unknown: 00:08:40

health is strongly being affected about Yeah, through

Unknown: 00:08:45

COVID and the economy, but I didn't know that there were

Unknown: 00:08:49

numbers out already. And that is very, very scary.

Unknown: 00:08:55

So these, these numbers are actually before COVID. So you

Unknown: 00:08:59

can imagine COVID making everything even worse. I forgot

Unknown: 00:09:03

to mention that before. But yeah, COVID is the next step

Unknown: 00:09:05

after the oil crash the recession, the economy crashed,

Unknown: 00:09:09

and now we have this COVID which is, you know, icing on top of

Unknown: 00:09:12

it. Right. So yeah, so we would like to set I've been seeing a

Unknown: 00:09:16

lot of stuff like that. And it's sad, but there's help you know,

Unknown: 00:09:20

you can reach out there help. There's a lot of advisors out

Unknown: 00:09:22

there looking to help people and people just, you know, the the

Unknown: 00:09:26

they aren't getting the help they need or they don't, they

Unknown: 00:09:29

don't know what's out there. They don't know where to look.

Unknown: 00:09:30

So

Unknown: 00:09:31

yeah. And I find it very hard to find people that you can really

Unknown: 00:09:37

trust because there's lots of scammers out there. You don't

Unknown: 00:09:42

want to go to your bank because you think they're gonna just do

Unknown: 00:09:46

it to their advantage. But then the other people that are out

Unknown: 00:09:51

there pretending to help and then not helping you at all.

Unknown: 00:09:56

It's it's a jungle out there and it's very scary to To trust

Unknown: 00:10:00

someone with your money, that's why I'm very happy that we met

Unknown: 00:10:04

and that I know that the crew behind you is trustworthy. How

Unknown: 00:10:10

do you get about, like, how do you advise a person when they

Unknown: 00:10:15

come to you and say, hey, I want to learn how to save money? What

Unknown: 00:10:19

are the first baby steps that a person can take in order to be

Unknown: 00:10:25

more stable? In order to address these problems, and instead of

Unknown: 00:10:30

running away from them?

Unknown: 00:10:33

Yeah, so it's, I'm glad you brought that up, because there's

Unknown: 00:10:37

a huge trust issue when it does come to advising. I mean, you go

Unknown: 00:10:41

to a bank, you think they have your best interests at heart,

Unknown: 00:10:43

but they don't, you know, their, their, their main job is to make

Unknown: 00:10:46

the bank money. So they're, you know, they're selling you

Unknown: 00:10:49

credit, they're selling you things that might not even help

Unknown: 00:10:51

you, they're probably, you know, helping you get into that. So,

Unknown: 00:10:54

it's a great thing that you brought that up, because that's

Unknown: 00:10:56

the first place people go is banks. But you know, there are

Unknown: 00:11:00

there are people out there that work for companies, and they're

Unknown: 00:11:02

being pressured by their managers to know, sell, sell,

Unknown: 00:11:04

sell. So I mean, you're right, you know, trust is a huge thing,

Unknown: 00:11:08

just because a person's helping you say, getting the life

Unknown: 00:11:10

insurance or investments, you know, they're out there to, you

Unknown: 00:11:14

know, they're there to make money for themselves. So you do

Unknown: 00:11:17

see a lot of, you know, pushy people, salesmen and trying to,

Unknown: 00:11:20

you know, take advantage of people. So, it's, it's a big

Unknown: 00:11:23

factor, you got to trust the adviser you sit down with. So

Unknown: 00:11:26

that's why, you know, you want to make sure you're, you're

Unknown: 00:11:28

sitting with a nice and friendly person who's very transparent

Unknown: 00:11:32

and open. And he's actually, you know, he cares about you, he

Unknown: 00:11:35

wants to make your life better. So that's awesome. You bring

Unknown: 00:11:38

that up? And then second point. So yeah, like, what can people

Unknown: 00:11:42

do? So first off, it's kind of like, it's like, it's very

Unknown: 00:11:45

similar to your mental health, your physical health, you know,

Unknown: 00:11:49

first of all, you need to identify what the problem is. So

Unknown: 00:11:53

the first thing is, what, why am I in debt. So the first thing

Unknown: 00:11:58

you can look at is, you know, take a look at where your

Unknown: 00:12:00

money's going, no create, first of all, like, you need to track

Unknown: 00:12:04

what you're spending your money on. And then that way, that

Unknown: 00:12:07

creates a baseline a starting point, okay? Okay, I'm spending

Unknown: 00:12:09

money here, here. And here. So this is where budgeting comes

Unknown: 00:12:11

into play. You know, okay, well, I'm spending a whole bunch of

Unknown: 00:12:15

money on you know, liquor and booze or cigarettes, and money,

Unknown: 00:12:19

you know, for food, and here and there, you know, diode all the

Unknown: 00:12:23

time. So now you know where your money is going, you can make a

Unknown: 00:12:26

plan to cut certain things out. So that's the first step, the

Unknown: 00:12:30

second step is even harder. So once you know you know, what

Unknown: 00:12:34

you're spending your money on, and what you know, what you need

Unknown: 00:12:36

to cut out and stuff like that. Now you have to create a budget

Unknown: 00:12:40

and follow it. Because you know, a lot of people realize, Oh, I

Unknown: 00:12:43

spent too much money here, there. But they never put a plan

Unknown: 00:12:47

in place, or they don't think about it later on, it just they

Unknown: 00:12:49

keep going back to their same routine. So that's why you know,

Unknown: 00:12:53

writing it down, making sure you see where your money's being

Unknown: 00:12:55

spent it what you spend your money on, then then once you

Unknown: 00:13:01

identify the areas where you need to cut back, then you can

Unknown: 00:13:04

create a budget, but then you have to be disciplined, you have

Unknown: 00:13:07

to follow that budget. So I mean, a lot of people use life

Unknown: 00:13:11

coaches, or, you know, financial advisors, just to say, Hey, you

Unknown: 00:13:15

know, I have this much money, what should I do with it, you

Unknown: 00:13:18

know, obviously, we're gonna say you make sure your family is

Unknown: 00:13:20

taken care of your bills are paid first, you know, your food

Unknown: 00:13:22

bought. And so you want to prioritize things and make sure

Unknown: 00:13:26

you're spending your money, the right amount, the right places.

Unknown: 00:13:30

So that, you know, that comes down to like I said, discipline,

Unknown: 00:13:33

you want to make sure all these things are dealt with. And then

Unknown: 00:13:37

the last thing you want to look at is okay, now you have extra

Unknown: 00:13:40

money, then what can I do with it? So, yeah, all that good

Unknown: 00:13:44

stuff.

Unknown: 00:13:46

And when it comes to investing, so now we looked at, okay, where

Unknown: 00:13:53

is your money being spent? Where can you be a little more

Unknown: 00:13:57

careful? Where can you cut back? And with the little bit of money

Unknown: 00:14:02

that you have? would you advise that people who just struggled

Unknown: 00:14:08

recently that they think of investing that money? Or is it

Unknown: 00:14:13

safe to just keep it on the savings account and to wait

Unknown: 00:14:18

until you have more saved up? Do you know what I'm Yeah,

Unknown: 00:14:24

yeah, so that's a good question as well. I mean, there's a lot

Unknown: 00:14:27

of areas where you can invest your money so first off, you

Unknown: 00:14:29

need to get kind of educated on what options are out there. So

Unknown: 00:14:34

obviously, the first place a person is going to go to is a

Unknown: 00:14:36

bank you know, savings account because they think it's the most

Unknown: 00:14:42

secure places, you know, there's there's just better options in

Unknown: 00:14:44

the bank. So I mean, you put your savings account at a bank,

Unknown: 00:14:47

you know, high interest savings account, you're probably getting

Unknown: 00:14:49

a quarter of a percent growth, which isn't much. So I mean,

Unknown: 00:14:56

people there's there's a rule out there called the rule of 72

Unknown: 00:15:00

It's the rule of compound growth, it was brought up by, it

Unknown: 00:15:04

was actually designed by Albert Einstein, he was gonna call it

Unknown: 00:15:07

the eighth wonder of the world. But anyways, the way it works is

Unknown: 00:15:10

you take your annual rate of return kick, the number 72,

Unknown: 00:15:13

divided by your annual rate of return, and that will tell you

Unknown: 00:15:16

how much your money doubles. So obviously, if your your money's

Unknown: 00:15:19

in a savings account at a bank growing at a quarter of a

Unknown: 00:15:22

percent, I'm not sure exactly what they think it's, you know,

Unknown: 00:15:27

it's probably like, one or 200 years before your money will

Unknown: 00:15:29

double right. So there are better options out there.

Unknown: 00:15:33

myself, you know, I can set up tax free savings accounts,

Unknown: 00:15:36

getting a DC portfolio is doing five to like 12% rates of

Unknown: 00:15:40

return. So first of all, you need to know your options. I

Unknown: 00:15:44

mean, obviously, there's another way to invest is trading A lot

Unknown: 00:15:47

of you know, trading starting to get really popular, but people

Unknown: 00:15:50

are not aware of that is very risky, you know, you can

Unknown: 00:15:53

actually lose most of your money when it comes to trades, if you

Unknown: 00:15:55

don't know what you're doing, or you don't manage your money

Unknown: 00:15:57

properly. You know, things can happen, and you can lose your

Unknown: 00:16:01

money quick. So you know, first off, you want to find someone

Unknown: 00:16:04

that's, you know, very knowledgeable in investing area,

Unknown: 00:16:08

and you want to make sure that you're investing in a nice safe

Unknown: 00:16:11

place, but you're also getting good returns, because what's the

Unknown: 00:16:13

point of saving money if it's not growing? So one thing I

Unknown: 00:16:16

wanted to talk about is inflation, like, because of our

Unknown: 00:16:19

economy right now, is not doing very well, people are getting

Unknown: 00:16:22

laid off, no one's getting more money, they're getting less

Unknown: 00:16:25

money, but cost of living is going up every year. So we're

Unknown: 00:16:28

there's a huge problem with that alone. But I mean, if your money

Unknown: 00:16:32

is not growing more than 3%, to stay on par of that inflation,

Unknown: 00:16:37

your money is not necessarily growing, it's actually shrinking

Unknown: 00:16:40

it dying, right. So you want to make sure that you're you're

Unknown: 00:16:44

talking to an advisor, you want to look at some a lot of

Unknown: 00:16:47

different options, the ones that best fit your needs. So we

Unknown: 00:16:50

actually have a statistic across Canada, you know, sitting with

Unknown: 00:16:53

an advisor talking with an advisor, you'll probably have

Unknown: 00:16:57

five times more money in retirement. So there's lots of

Unknown: 00:17:01

you know, there's lots of areas to invest, a lot of them have

Unknown: 00:17:04

different risk tolerances with them. But you just need to find

Unknown: 00:17:07

which one meets your needs, you know, to be risky investors who

Unknown: 00:17:11

are okay to take those big, no gains and losses, hopefully

Unknown: 00:17:16

getting those good returns. But then there's some people who are

Unknown: 00:17:18

very conservative and like, they don't like seeing ups and downs

Unknown: 00:17:21

in the markets, they just want to see a steady up. So you can

Unknown: 00:17:24

look at, you know, guaranteed interest accounts, gi C's, stuff

Unknown: 00:17:29

like that. So like I said, it just depends on what type of

Unknown: 00:17:31

person you are, what your tolerance is. And then but

Unknown: 00:17:34

sitting with an advisor, they can show you all those options,

Unknown: 00:17:37

and then we can find a vehicle that helps meet your needs.

Unknown: 00:17:40

Yeah. Awesome. What would you say is the minimum amount you

Unknown: 00:17:47

need in order to start investing? Like just very, very

Unknown: 00:17:54

plain answer if it's $100? Or no, it has to be over $1,000?

Unknown: 00:18:00

What What is the amount where you would say no, that's

Unknown: 00:18:03

realistic to start investing.

Unknown: 00:18:06

Okay, so that's a very interesting point you bring up

Unknown: 00:18:09

so obviously, like I said, today's economy is not very

Unknown: 00:18:12

well, you know, people are struggling. Yeah. So, statistics

Unknown: 00:18:17

show in the 1980s and 1990s, people were saving about 18% of

Unknown: 00:18:22

their saving their money into savings. Nowadays, that's more

Unknown: 00:18:26

like 3% so there's a huge, huge decrease there. You know, on

Unknown: 00:18:32

average, when we sit down with a client, I sit down with clients,

Unknown: 00:18:35

we say, as a rule of thumb, it's good to invest 10% of your

Unknown: 00:18:38

income into savings, or your financial plan. So let's see

Unknown: 00:18:43

more of that comes down to a lot of things even with personal

Unknown: 00:18:46

development, you know, running a business, they tell you you want

Unknown: 00:18:49

to whatever you make for the year, you want to invest 10% of

Unknown: 00:18:52

it back into yourself. So you know, reading the books, taking

Unknown: 00:18:55

courses, personal developing, becoming a better persons and

Unknown: 00:18:58

that's, you know, similar with savings, whatever your income

Unknown: 00:19:02

is, there's no specific dollar amount, but it's whatever your

Unknown: 00:19:05

income is, you know, on average, you should be saving around 10%

Unknown: 00:19:09

people who can't save 10% at least start the habit because,

Unknown: 00:19:14

you know, some people just you just need to start that habit

Unknown: 00:19:18

first because once you start that habit, it could be a very

Unknown: 00:19:21

small amount so people can afford it you know, we're

Unknown: 00:19:23

looking at maybe 5% investing into yourself but just want to

Unknown: 00:19:28

start that habit because once you do start that habit so

Unknown: 00:19:31

you're saving $25 a month you know, after a year or two you

Unknown: 00:19:35

say hey, you know what this has been drawing this has been

Unknown: 00:19:37

working well but I can afford more money and so maybe you want

Unknown: 00:19:40

to put in $50 away so it's it's a habit you want to create

Unknown: 00:19:43

because you want to create discipline. You don't want to

Unknown: 00:19:46

get into a habit of you know, saving for a year and then going

Unknown: 00:19:49

spending all that money. Yes. So you it's your money you want

Unknown: 00:19:54

with it, but I think the most important thing is to at least

Unknown: 00:19:56

start something. start somewhere. Yeah. Something

Unknown: 00:20:00

Something that you obviously even afford. But like I said,

Unknown: 00:20:03

you just want to start that habit, create good habits so

Unknown: 00:20:05

that it just, it just becomes part of your life.

Unknown: 00:20:09

Yes, beautiful. You said. And like you said at the beginning,

Unknown: 00:20:13

it's just like for mental health and your physical health, you

Unknown: 00:20:18

have to have that consistency. And that sense of I want to even

Unknown: 00:20:23

say self worth, to know that it is not only a rich people's

Unknown: 00:20:29

thing to invest money and to make more money, people with

Unknown: 00:20:34

less money, can start and put money aside and create that

Unknown: 00:20:41

habit. And then get there one day, this is, this is very

Unknown: 00:20:47

critical to say. I wanted to ask you, when it comes to your

Unknown: 00:20:56

finances, and finding an advisor out there, how can people like

Unknown: 00:21:05

hi met you coincidentally here on my Facebook? But how? We will

Unknown: 00:21:11

make sure to put all the links and all your your contacts in

Unknown: 00:21:15

there. But how do people otherwise find people like you?

Unknown: 00:21:22

Because you're not out there advertising it on TV or radio?

Unknown: 00:21:28

And then secondly, what are the books that you would recommend

Unknown: 00:21:33

us reading in order to become more aware of our finances and

Unknown: 00:21:39

spending habits? But first of all, how can we we find advisors

Unknown: 00:21:44

like you?

Unknown: 00:21:46

Yeah, so that's one of the big things that kind of disappoints

Unknown: 00:21:50

us about most financial companies and firms and banks.

Unknown: 00:21:54

So there, there are some big names out there. I don't want to

Unknown: 00:21:57

mention names because I'm not here to badmouth anybody, but

Unknown: 00:22:01

you know, some of the big banks, some of the main financial

Unknown: 00:22:04

companies that you recognize the names, you know, they won't even

Unknown: 00:22:08

sit down with you unless you have 100 or $200,000 sitting in

Unknown: 00:22:11

a checking account. Yeah, so first off, you know, there's,

Unknown: 00:22:14

there's people out there who know, they're only looking for

Unknown: 00:22:18

high net worth people. So that leaves you know, the middle

Unknown: 00:22:20

market and everyone else out of it. So there's no money in it

Unknown: 00:22:24

for advisors to go help broke people. So that's kind of one

Unknown: 00:22:29

disappointment. They're huge. Yeah, so I mean, myself, you

Unknown: 00:22:35

know, I see our company is see huge disconnect there. So I just

Unknown: 00:22:40

like want to meet if people have good conversations, you know,

Unknown: 00:22:43

I'm not here to push yourself or anything on people, but by just

Unknown: 00:22:46

by talking to them, you find out that they're struggling either

Unknown: 00:22:49

with a job or their finances, and I just, you know, I just try

Unknown: 00:22:52

and provide solutions for people, you know, like, hey,

Unknown: 00:22:54

maybe you should sit down, maybe I can help you out. And I mean,

Unknown: 00:22:57

I'm not picky, I'm not gonna go, it doesn't matter, if you have a

Unknown: 00:23:00

lot of money or less money, I actually want to help. Those are

Unknown: 00:23:07

the people that need to help the most. But the you know, there's,

Unknown: 00:23:12

there's a lot of people out there, even even people that

Unknown: 00:23:15

have their finances in order, you know, we can even help those

Unknown: 00:23:18

people out. Because, like I said, looking at a second

Unknown: 00:23:21

opinion, you know, you sit down with the first advisor, you take

Unknown: 00:23:24

their advice, and you think they're golden, but they only

Unknown: 00:23:26

told you about their options. There's other options out there.

Unknown: 00:23:29

So it's, it's good to have a second opinion, you know, get

Unknown: 00:23:32

second opinions from other people, because there's a lot of

Unknown: 00:23:34

options out there people aren't aware of. Um, so there's that

Unknown: 00:23:39

one thing as well. Another thing too, you know, when sitting down

Unknown: 00:23:41

with some advisors, they, you know, they have a fee, you know,

Unknown: 00:23:44

people need to pay a fee to sit down with them. And I mean, if

Unknown: 00:23:47

you, you know, a lot of their expertise is valuable, but you

Unknown: 00:23:51

got to pay for it. Like, there's broker fees on top of

Unknown: 00:23:53

everything, right. So obviously, it's no more more of the wealthy

Unknown: 00:23:57

people that they're taking care of. And we see a big problem

Unknown: 00:24:00

with that. So like I say, I just, you know, I look for

Unknown: 00:24:03

people who are struggling, people that need the help.

Unknown: 00:24:07

There's a lot of people out there who think they have their

Unknown: 00:24:09

finances in order because they sit down, but I'm like, you know

Unknown: 00:24:12

what, there's better options out there, let's take a look at your

Unknown: 00:24:14

financial plan. They might be set up, but I can show them

Unknown: 00:24:17

better options, that either helps them save more money now,

Unknown: 00:24:21

or I can put, you know, couple $100,000 more on their

Unknown: 00:24:24

retirement account so that they have saved more money or just

Unknown: 00:24:27

have more money. So yeah, like I said, it's another thing to you

Unknown: 00:24:32

know, you're not going to get help with your finances unless

Unknown: 00:24:35

you reach out and ask people so it's not just you know, those

Unknown: 00:24:39

companies reaching out to you, you know, sometimes you gotta,

Unknown: 00:24:41

you know, bite the bullet and be like, Hey, you know what, I

Unknown: 00:24:43

could use some help. And then go look for it yourself, right?

Unknown: 00:24:47

There's a lot of resources out there, but you just you just got

Unknown: 00:24:50

to be careful who you talk to you like you said, he, it's all

Unknown: 00:24:52

about trust. So I mean, you go to a company, a big company or

Unknown: 00:24:56

bank, you know, you're sitting down with an employee that you

Unknown: 00:25:00

Don't even know. So they're just there to do business with you.

Unknown: 00:25:03

Whereas, you know, I like to get to know people, I like to learn

Unknown: 00:25:06

about your friends and family, see how your summers going? I

Unknown: 00:25:10

keep in touch. And I like to create that friendship bond and

Unknown: 00:25:15

that trust relationship, because I want them to know that I am

Unknown: 00:25:17

there to help them on the eye, you know, their needs come

Unknown: 00:25:21

first. And another thing too, you know, there's like a lot of

Unknown: 00:25:26

banks and those big companies, once they sit down with you and

Unknown: 00:25:30

help you out, you know, they've made their money. No, they're

Unknown: 00:25:32

not, you'll probably never hear from them ever again. No

Unknown: 00:25:35

finances change, like even six months or a year your finances

Unknown: 00:25:38

changed. So I make it a habit to at least follow up every three

Unknown: 00:25:41

to six months, you know, first of all, to keep that

Unknown: 00:25:44

relationship. You know, I like I like to actually be friends with

Unknown: 00:25:48

people I help. I'm just that type of person. But you know, I

Unknown: 00:25:52

like to see how things are going, Hey, is anything changing

Unknown: 00:25:54

your life and you need help in this area? You know, these

Unknown: 00:25:57

things happen? And I'm always there to help people. So yeah,

Unknown: 00:26:00

like I said, it's just people just aren't aware that there's

Unknown: 00:26:02

help out there. They just either need to find those people or

Unknown: 00:26:05

reach out. So

Unknown: 00:26:06

yeah, no, that's very, very good. And what about some books

Unknown: 00:26:11

that you read? That changed your mindset when it comes to

Unknown: 00:26:17

finances? Can you read? So?

Unknown: 00:26:22

Yeah, there's some good books. So one of the book that comes to

Unknown: 00:26:25

mind is called and a lot of people don't know this is out

Unknown: 00:26:28

there. But it's called the 10s 10. Secrets Canada Revenue

Unknown: 00:26:33

doesn't want you to know about. So just an example. I mean, it's

Unknown: 00:26:38

a small book that I think it's really hard to find, but I think

Unknown: 00:26:41

you can get it on Amazon. But I've heard it is a little bit

Unknown: 00:26:45

harder to read, because obviously the government

Unknown: 00:26:48

doesn't, you know, they want your tax money, right. So it's

Unknown: 00:26:52

just a book, it's a book money. It's a book that teaches you how

Unknown: 00:26:55

to, you know, cool strategies that people use to save money on

Unknown: 00:26:58

taxes. So just an example, you know, life insurance is there to

Unknown: 00:27:03

protect your family and stuff in case something were to happen,

Unknown: 00:27:05

but some of life insurance products, I have come with an

Unknown: 00:27:09

investment portion attached to it. So these are called

Unknown: 00:27:12

insurance tax shelters. Yeah, it was another way to tax shelter

Unknown: 00:27:15

your money, you know, felt the government getting their fingers

Unknown: 00:27:19

in it. That's just one, you know, one tip, I think that's

Unknown: 00:27:23

secret number eight, secret number nine, you know, is being

Unknown: 00:27:27

self employed, you know, being an employee, and you're getting

Unknown: 00:27:30

taxed, 30 to 40%. But if you were to, you know, you say you

Unknown: 00:27:33

worked a trade or you did a specific job that no one else

Unknown: 00:27:37

can do, you could actually break off for that company, start your

Unknown: 00:27:39

own company. When you're self employed, or a business owner,

Unknown: 00:27:43

you get taxed. 15 20%. So right off the bat, you're getting

Unknown: 00:27:47

taxed less being self employed. I mean, there's, there's pros

Unknown: 00:27:51

and cons between being an employee and self employed.

Unknown: 00:27:54

Yeah, but one of the big ones is, you know, your how much

Unknown: 00:27:57

you're getting taxed. So I mean, as an employee getting taxed, so

Unknown: 00:28:00

you make $100,000 a year, you're getting 35% you're only taking

Unknown: 00:28:04

home. 65,000 Yeah, but if you're making $80,000, and you're

Unknown: 00:28:09

getting taxed 15%. You know, you're you're taking home the

Unknown: 00:28:12

same amount of money. Yeah. Yeah, so there, that's a good

Unknown: 00:28:16

book as well. Another one is, there's a guy called Darren

Unknown: 00:28:19

Hardy. And he's wrote some books. I believe the three most

Unknown: 00:28:26

popular ones he's written are called the entrepreneur

Unknown: 00:28:30

rollercoaster that's more so how to run a business and you know,

Unknown: 00:28:34

just be a good person, all that stuff. But the other books that

Unknown: 00:28:37

really helped me Oh, it was called the compound effect.

Unknown: 00:28:40

Hmm, very good.

Unknown: 00:28:42

So that book was huge in my personal development, not only

Unknown: 00:28:47

does that help, you know, people's finances or success, it

Unknown: 00:28:50

also helps with your relationships and lifestyle. So

Unknown: 00:28:53

remember how or I told you about what you know, people struggling

Unknown: 00:28:56

with debt, what's the first steps you can do? When I say,

Unknown: 00:28:59

you know, first off, write down what you're spending your money

Unknown: 00:29:01

on, so that you can create a baseline, then you can create

Unknown: 00:29:04

waste to what you need to cut out and then you can make a plan

Unknown: 00:29:08

to move forward. I've learned all that from the compound

Unknown: 00:29:10

effect. So as it's to do with, you know, money and finance, but

Unknown: 00:29:15

also to do with your lifestyle as well, you know, relationships

Unknown: 00:29:18

with people, your bad habits and stuff like that. So that was a

Unknown: 00:29:21

huge one. It teaches you more of a discipline, you know, how to

Unknown: 00:29:25

how to be more aware of what your money on or you know,

Unknown: 00:29:28

anything to do with that. So that was a good book. And

Unknown: 00:29:30

there's another one called living your best life ever by

Unknown: 00:29:33

Darren Hardy. I haven't read that book yet. But it's more

Unknown: 00:29:37

like a peak performance kind of thing. kind of deal. So, Darren

Unknown: 00:29:41

Hardy is I think he's the president or owner of a magazine

Unknown: 00:29:45

called Success Magazine. And yeah, he's just, you know, he

Unknown: 00:29:50

started out as a realtor. He did some of these, you know, I think

Unknown: 00:29:53

he used to sell water filters and stuff like that. I think he

Unknown: 00:29:56

did Amway for a bit, but he ended up being the realtor

Unknown: 00:29:59

because that's what is found. business was but then he, you

Unknown: 00:30:01

know, he branched off and now he goes off and he interviews

Unknown: 00:30:04

wealthy people, people that are making lots of money or

Unknown: 00:30:07

succeeding in life. And he picks their brains, because he wants

Unknown: 00:30:10

to know how people become successful. And then he writes

Unknown: 00:30:14

the books and he teaches everyone else how to be

Unknown: 00:30:16

successful. So those are some of the books that I read that

Unknown: 00:30:18

helped. finances and stuff like that.

Unknown: 00:30:22

Very, very good. Man, this was very precious I feel for all of

Unknown: 00:30:32

us listening, like for me as well, like a lot of stuff that I

Unknown: 00:30:36

was not really aware of. And, yeah, very precious information

Unknown: 00:30:42

you shared with us, I will make sure that all your contact

Unknown: 00:30:47

contact info in the show notes. So don't wonder if people are

Unknown: 00:30:51

starting to reach out to you hopefully, if they, I would

Unknown: 00:30:56

really appreciate that. I'd be happy to help more people

Unknown: 00:30:59

obviously. Yes, no. And especially in those tough times

Unknown: 00:31:05

that we are all trying to navigate through. And yeah,

Unknown: 00:31:09

we'll also put your book recommendations in there because

Unknown: 00:31:13

I feel they're very insightful and put help more people out

Unknown: 00:31:17

there. Thank you so much for being with us today. And yeah,

Unknown: 00:31:23

we'll talk very soon again.

Unknown: 00:31:26

Awesome. Yeah. Again, thanks for having me. I hope you I hope you

Unknown: 00:31:29

found lots of value out of that. And I hope a lot of your viewers

Unknown: 00:31:32

can, you know, take some tips, and I hope that helps them as

Unknown: 00:31:35

well. So thank you so much.

Unknown: 00:31:38

Thank you so much for listening to this interview. I hope it

Unknown: 00:31:42

brought to you yeah, inside and hope when it comes to your

Unknown: 00:31:47

finances. Don't feel alone with this well together in this. And

Unknown: 00:31:53

yeah, as you heard, there's people out there who are willing

Unknown: 00:31:57

to help you willing to make you feel and be more resilient with

Unknown: 00:32:02

your finances in the future. subscribe, rate and review this

Unknown: 00:32:09

podcast if you love it, and if it became part of your life and

Unknown: 00:32:16

bringing you joy and relaxation, self reflection. Thank you so