Money Mindset Mastery Jim Lao and Ryan Genoe TvH CacheFlo Solutions

In this conversation, Jim Lao and Ryan Genoe discuss Jim's experience with open heart surgery and his recovery process. Jim shares the significance of his surgery, the challenges he faced leading up to it, and the support he received from his family and friends. He also highlights the importance of having critical illness insurance and how it provided financial security during his recovery. The conversation emphasizes the need for proper preparation, following medical instructions, and taking the time to fully recover. In this conversation, Jim Lao and Ryan Genoe discuss the benefits of critical illness insurance and the impact it has had on Jim's life. They highlight the importance of having options and choices in the face of a critical illness, such as the ability to have family support during recovery and the freedom to create better memories. Jim shares his personal experience with open-heart surgery and how it has changed his perspective on life and mortality. They also discuss the financial implications of critical illness and the limitations of relying on crowdfunding platforms like GoFundMe. The conversation emphasizes the need for proactive planning and the value of critical illness insurance in providing financial support and peace of mind.






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In this episode of the Money, Mindset and Mastery podcast, host Jim Lao interviews Dean Mizzi, a hardscape and renovation expert, about his new business and the program he has launched to help contractors accurately estimate costs and maximize profits. Dean explains that hardscape is a division of landscaping that focuses on hard surfaces like walkways, driveways, and retaining walls. He emphasizes the importance of understanding the business side of contracting, particularly pricing jobs and managing numbers. Dean's program, called the Pro-Fit Estimator, provides contractors with a comprehensive dashboard that helps them estimate costs, create contracts, track expenses, and ensure profitability. The program is suitable for both new and seasoned contractors. Dean Mizzi discusses the importance of knowing your numbers as a contractor and how his profit estimator program can help contractors and homeowners alike. He emphasizes that contractors should not rely on other contractors to determine their pricing, as each business has different overhead costs. Knowing your numbers can lead to more success in running your own business and achieving profitability. The program is not limited to contractors and can also benefit investors and flippers. Dean plans to approach colleges to offer his program as an accreditation or certification program. The program is available worldwide through the Udemy platform.

Sign up for the program:
The Pro-Fit Estimator Program Suite (Program Download) | Udemy




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Summary

In this episode of the Money, Mindset, and Mastery podcast, Jim and Ryan discuss a four-step master plan to overcome financial stress. They emphasize the importance of understanding your financial situation, educating yourself on financial matters, finding a trusted financial professional, and practicing self-care. They provide practical tips for managing stress, such as exercise, breathing techniques, and spending time with loved ones. The hosts also highlight the resources and tools available through TBH Group to help individuals improve their financial well-being.

Sound Bites

"Everyone seems to be stressed out right now with their finances."



"You need to have the financial tools. Our process is the reverse. First, we wanna make sure we teach you how to play the game."



"Try to speak with a financial professional. At least get a second opinion."



Chapters

00:00 Introduction and Overview

03:08 Understanding Your Financial Situation

10:42 Financial Education

29:03 Self-Care for Financial Wellness








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Summary

In this conversation, the hosts discuss the impact of hoarding cash and the reasons why people tend to do so. They highlight the fear of loss, lack of financial literacy, and the illusion of safety as common factors. They emphasize the importance of understanding the psychology behind hoarding cash and the need for education and professional advice to make informed financial decisions. The hosts also discuss the difference between saving and investing, and the impact of keeping money in savings accounts or GICs compared to long-term inflation rates. They caution against falling for temporary offers and highlight the need for proper education and research when it comes to financial decisions. The conversation focused on debunking common misconceptions and providing education around financial topics. One key theme was the importance of understanding retail banking and the potential risks associated with joint ownership of assets. The speakers emphasized the need for personalized financial advice and the dangers of following generic advice from banks. They also discussed the benefits of dollar cost averaging and the role of cash in a portfolio. The conversation highlighted the importance of having a well-diversified and well-managed investment portfolio to minimize risk. Lastly, the speakers emphasized the value of working with a trusted advisor and regularly reviewing and adjusting financial goals.



Takeaways



Hoarding cash can have a negative impact on long-term financial planning and retirement goals.

Fear of loss, lack of financial literacy, and the illusion of safety are common reasons why people tend to hoard cash.

It is important to understand the psychology behind hoarding cash and seek education and professional advice to make informed financial decisions.

Saving is for short-term needs, while investing is for long-term needs. It is important to strike a balance between the two and set clear financial goals.

Temporary offers and high-interest rates may not always be beneficial in the long run, and it is important to consider the fine print and potential hidden fees. Beware of generic advice from banks and retail banking. Seek personalized financial advice that considers your specific needs and goals.

Joint ownership of assets can have potential risks and may not always be the best solution. Consider the implications and consult with a financial advisor before making any decisions.

Dollar cost averaging is a strategy that allows for gradual investment over time, reducing the impact of market fluctuations.

Cash has a place in a portfolio and can provide stability and liquidity. It is important to consider the role of cash in your overall investment strategy.



Chapters



00:00 Introduction and Irritation with Hoarding Cash

02:25 Psychology Behind Hoarding Cash

04:19 Impact of Hoarding Cash during Market Volatility

07:13 Impact of COVID on Hoarding Cash

10:22 Difference Between Saving and Investing

11:30 Impact of Cash and GICs on Inflation

24:18 Importance of Education and Seeking Professional Advice

28:08 Challenges with Banking Employees' Knowledge and Advice

28:37 Misinformation from Banks

29:35 The Risks of Joint Ownership

30:14 The Importance of Proper Estate Planning

32:03 Dollar Cost Averaging and the Benefits of Cash

33:28 Overcoming Fear and Misconceptions about Investing

36:31 The Role of Cash in a Portfolio

37:03 The Risks of GICs and Estate Settlement

38:00 The Importance of Liquidity and Access to Capital

40:21 The Complexity and Education of Investing

42:13 Understanding Risk and Loss in a Well-Diversified Portfolio

45:35 The Value of Slow and Steady Investing

47:09 The Importance of Coaching and Behavior in Investing

49:01 The Role of Cash in a Portfolio (Final Thoughts)

49:12 Setting Goals and Educating Yourself

50:02 Monitoring and Adjusting Your Financial Plan

50:32 Contact Information and Conclusion

50:43 Money Minsdet Mastery Intro.mp4






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In this episode, Jim and Ryan introduce Denis Bisson, the head of TVH Wealth, and discuss the announcement of the referral arrangement with TVH Group. Denis shares his background in the financial services industry and his journey to becoming an independent portfolio manager. They highlight the benefits of TVH Wealth, including access to a team of specialists and a focus on risk management. Denis explains the importance of an investment policy statement and the comprehensive approach to financial planning at TVH Wealth. The conversation covers topics such as assessing investment portfolios, market conditions and outlook, future plans for TVH Wealth, managing cash and other assets, and final thoughts and contact information.

Takeaways


TVH Group has entered into a referral arrangement with TVH Wealth, led by Denis Bisson, an independent portfolio manager.
Denis brings expertise in financial planning, portfolio management, and trust and estate planning to TVH Wealth.
TVH Wealth offers access to a team of specialists in legal, accounting, and mortgage services, providing a comprehensive approach to financial planning.
The investment philosophy of TVH Wealth focuses on risk management and a slow and steady approach to wealth accumulation. When assessing investment portfolios, it is important to consider the client's overall financial situation, including any outside investments they may have.
Regular reviews and risk assessments are crucial to ensure that clients are properly invested and not exposed to unnecessary risks.
Market conditions can be unpredictable, and it is important to stay informed and make investment decisions based on a well-rounded strategy rather than chasing short-term gains.
TVH Wealth aims to provide comprehensive portfolio management services and maintain open communication with clients to keep them informed and satisfied.
Transferring stock portfolios and mutual funds in kind can be a viable option to avoid unnecessary fees and taxes.
Holding cash in a high-yield cash ETF or cash account can be a suitable option for short-term goals and expenses.
TVH Wealth is focused on attracting new clients, keeping current clients happy, and making positive changes to its portfolio management services.

Chapters

00:00Introduction and Announcement

01:09Denis Bisson's Background in Financial Services

07:02Denis Bisson's Designations and Expertise

10:53TVH Group Services and Team Collaboration

20:52TVH Wealth's Approach to Wealth Management

25:21Alignment with TVH Group's Tortoise vs. Hare Philosophy

28:12Importance of Investment Policy Statement

33:20Comprehensive Financial Planning with TVH Wealth

33:30Assessing Investment Portfolios

37:03Market Conditions and Outlook

42:21Future Plans for TVH Wealth

55:28Managing Cash and Other Assets

58:05Final Thoughts and Contact Information




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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 process of guiding clients through the mortgage journey and the importance of considering long-term financial planning. In this conversation, Josh Brooks discusses the role of TVH Group in helping clients navigate the mortgage process. He emphasizes the importance of staying on top of interest rate announcements and ensuring clients are prepared for mortgage renewals. Josh also highlights common pitfalls in the mortgage search and recommends starting the process at least six months in advance. Outside of work, Josh enjoys staying active by going to the gym, playing rugby, and hiking. He values referral partners who share TVH Group's commitment to long-term relationships and client success. Josh prefers face-to-face meetings but is also open to virtual interactions. To connect with Josh, clients can reach out via phone or email.



Takeaways



Building strong relationships with clients is crucial in the mortgage industry.

Learning from experienced professionals and duplicating their success can lead to personal growth and success.

Balancing communication and timing is essential in providing excellent service to clients.

Collaboration within a team of professionals can enhance efficiency and provide comprehensive solutions for clients.

Guiding clients through the mortgage process involves understanding their goals and providing ongoing support and guidance. Stay on top of interest rate announcements and let TVH Group handle the details.

Start the mortgage renewal process at least six months in advance to avoid last-minute scrambling.

Avoid common pitfalls in the mortgage search by seeking advice from professionals like TVH Group.

Josh Brooks values referral partners who prioritize long-term relationships and client success.



Chapters



00:00 Introduction and Background

01:07 Josh's Journey in the Mortgage Industry

04:13 Motivation and Passion for Mortgages

05:21 Building Relationships with Clients

07:04 Learning from John and Duplicating Success

08:01 Balancing Communication and Timing

09:23 Helping Clients Take the First Step

11:37 Importance of Client Relationships

13:22 Long-Term Planning and Repeat Clients

15:15 Collaboration within the TVH Group

20:12 Guiding Clients through the Mortgage Process

22:04 Establishing Goals and Building a Foundation

23:29 Considering Long-Term Financial Planning

25:16 Providing Guidance Beyond the Mortgage

26:32 Addressing Client Concerns and Questions

27:59 Staying Informed and Communicating within the Team

28:32 Helping Clients Navigate the Mortgage Process

29:13 Navigating Mortgage Renewals

30:21 Common Pitfalls in Mortgage Search

32:22 Providing Options and Avoiding Confusion

35:12 Personal Interests and Hobbies

41:27 Preferred Referral Partners

43:11 Face-to-Face or Virtual Meetings

48:18 Contacting Josh for Mortgage Advice

50:14 Closing Remarks




Agent: Josh Brooks

Licence #M20000810

Brokerage Name: Verico TvH Mortgages Inc.




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