Your Life and Money

Advice First Financial Group
  • 0.0 (0)
  • Investing
  • Updated Weekly

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.

  1. 6d ago

    Keeping the Cottage in the Family: Navigating Taxes, Agreements, and Legacy Ep. 70

    Tim Borody and Brad Smith sit down to discuss one of the most emotional and complex secondary assets a family can own: the family cottage. While a recreational property builds decades of cherished memories, passing it down to the next generation without a proper plan can trigger massive capital gains tax liabilities and strained sibling relationships. Protecting Your Recreational Property The Emotional & Relationship Risk: Tim and Brad explain why family communication must come first, outlining how unmanaged expectations around usage schedules, maintenance, and unequal financial situations between siblings can destroy relationships.Drafting a Family Cottage Agreement: Learn the essential elements of a formal written agreement—including usage rotation systems, cost-sharing formulas, buyout provisions, and dispute resolution mechanisms—to eliminate future hostility.Handling Deemed Dispositions & Tax Bills: Understand how the CRA treats a cottage transfer as a "deemed disposition" at fair market value upon the second parent's death, often creating an immediate six-figure tax bill even if the property is not sold.Using Permanent Life Insurance as a Solution: Discover how a joint-second-to-die permanent life insurance policy can instantly generate tax-free liquidity upon death, allowing the estate to pay the CRA without forcing a sale of the property. Don't leave your family legacy to chance. Join Tim and Brad to get practical tips on how to start the conversation early, align your heirs, and keep your cottage in the family for generations to come.

  2. Aug 14

    Navigating the 2026 Mortgage Market: Fixed vs. Variable Rates and Unique Lending Solutions Ep. 69

    Tim Borody is joined in the studio by mortgage broker—and newly certified yoga instructor—Julia Bernier for her third appearance on Your Life and Money. Recording in mid-July 2026, Tim and Julia explore the shifts across Canadian real estate, breaking down what fluctuating interest rates, market conditions, and alternative lending options mean for buyers, sellers, and homeowners facing renewals. Demystifying Mortgages in an Uncertain MarketA Buyer's Market Shift: Discover why the current real estate landscape is favoring first-time buyers, how conditional offers are making a comeback, and why sellers need realistic expectations in a cooling market.Decoding Interest Rates & Bond Markets: Julia breaks down the Bank of Canada's rate holds, how global trade uncertainties drive volatility in fixed rates, and why Canadian bond yields hold the secret to where mortgage rates are headed.Alternative Lending & Smart Renewal Strategies: Learn how to approach mortgage renewals 120 days out, and explore solution-based options—from "B-lending" for credit or separation scenarios to reverse mortgages for senior homeowners needing property repairs. Whether you're shopping for your first home or looking to optimize an upcoming mortgage renewal, join Tim and Julia to gain the clarity and confidence you need to make informed decisions for your financial future.

  3. Jul 31

    Unpacking the Six Pillars of Financial Planning (Part 2) Ep. 68

    Tim Borody and Brad Smith conclude their breakdown of the six pillars of comprehensive financial planning by digging into the strategies that determine how much of your wealth you actually get to keep. In this episode, they shift from daily asset management to long-term wealth protection, legacy design, and the immense power of family communication. Protecting Your Wealth and Perfecting Your Legacy The Silent Partner of Tax Planning: Tim and Brad demonstrate how two people earning the exact same $100,000 income can pay dramatically different tax bills based on asset structure, and why true tax planning must span your earning, retirement, and estate years.Shifting from "Protection" to "Provision": Discover why trying to insure against every worst-case scenario will leave you cash poor, and how to ask the right questions about transferring risk so you are simply providing for what you cannot afford to lose.Finishing Well with Wealth Transfer: Learn the distinction between your raw financial assets and your true intergenerational legacy, the tax advantages of charitable gifting through an estate, and why communicating your wishes while alive prevents chaos down the road. A cash flow blueprint or a simple portfolio review is not a complete financial plan. Join Tim and Brad for this conclusion to discover how integrating all six pillars creates a structure strong enough to support the life you truly deserve.

  4. Jul 15

    Unpacking the Six Pillars of Financial Planning (Part 1) Ep. 67

    Tim Borody and Brad Smith are back in the studio to pull back the curtain on what a comprehensive financial strategy actually looks like. If you've been told you have a plan but are only focusing on investment returns, you might be building on an unstable foundation—because a true, holistic roadmap requires balancing six interconnected pillars to serve your actual life, not just your accounts. Building a Strong Financial Foundation The "Live, Give, Owe, Grow" Framework: Brad and Tim break down the true scope of cash flow management, showing you how to structuralize your monthly expenses, debt, and giving so that every incoming dollar has a clear purpose to improve your quality of life.Retiring to Purpose, Not Just From Work: Discover why 70% of retirement concerns are actually psychological rather than financial, and how to visually map out your income transitions so you can confidently shift your focus toward living a meaningful life.Concentration vs. Preservation: Learn why wealth is built through concentrated efforts—like a family farm, real estate, or corporate business—but preserved through deep diversification across alternative asset classes to shield your lifestyle from down market shocks. Before you face your next major life transition, join Tim and Brad to stress-test your current strategy and learn how solidifying these first three pillars can trade financial fog for total peace of mind.

  5. Apr 16

    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 Market The 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.

  6. Apr 1

    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 Objectives The 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.

  7. Mar 25

    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 Structure The 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.

  8. Feb 27

    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 Landscape Preparation 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.

See All (71)

About

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.

Information

  • Creator
    Advice First Financial Group
  • Years Active
    2023 - 2026
  • Episodes
    71
  • Rating
    Clean
  • Copyright
    © Copyright 2026 Your Life and Money
  • Show Website
    Your Life and Money

You Might Also Like