The Empowered Investor Keith Matthews

Will I have enough money to retire comfortably? Am I on track? Should I be saving more? These are the types of questions clients bring to us daily. We turn to financial planning and modelling into the future using expected returns to answer them.
Expected returns estimate the average return that an investment or portfolio should generate over time. Being able to create realistic projections requires starting with appropriately developed expected returns.
In this episode, Marcelo and Keith talk about how investors and advisors should use expected returns, what you need to know about how they’re determined, why they’re essential for retirement projections, the organizations that create expected returns, and so much more!
Key Topics:
What are expected returns? (3:17)The relationship between valuations and expected returns (4:33)How financial advisors use the Projection Assumption Guidelines from FP Canada™ and the IQPF (6:35)Expected returns for different asset classes according to the 2023 Projection Assumption Guidelines (8:09)What the reports from firms like Vanguard say bout expected returns (9:52)How we use expected returns in financial planning (11:20)A side-by-side comparison of current returns and historical returns (14:11)Real returns of stocks over the last 120 years (16:37)What you can do to improve the odds of a successful planning and investment experience (21:21)How management fees have changed over time (23:20)Why we’re optimistic about the future (27:10)And much more!


Mentioned in this Episode:
2023 Projection Assumption GuidelinesElroy Dimson, Paul Marsh & Mike Staunton’s Book | Triumph of the Optimists: 101 Years of Global Investment ReturnsTulett, Matthews & AssociatesKeith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios


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Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112
 
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Whether you're a first-time home buyer or a seasoned real estate investor, understanding the intricacies of mortgages is a game-changer in your financial journey. Navigating the mortgage journey can be an intimidating experience, and mistakes can have long-lasting consequences. 
With many potential pitfalls, confusing jargon, and seemingly endless options, proper guidance throughout the mortgage process is invaluable. Today we’re joined by experienced independent mortgage broker Morgan Englebretsen to break down the ins and outs of mortgages, ensuring that you have the knowledge you need to make informed decisions.
In this episode, Morgan and Marcelo discuss how to get ready for the mortgage process, strategies you can use to save money, why it’s sometimes worth it to get a higher interest rate, how to decide how much of a deposit to make, the benefits of working with a mortgage broker, what to think about when deciding between lenders, the fixed and variable costs of buying a property,
Morgan’s advice for a first-time home buyer and so much more!
Thank you for listening!
Key Topics:
Why it’s valuable to get an independent perspective on mortgages (1:25)How Morgan moved from automotive financing to home financing (4:12)Growing up in a rational environment with both parents as academics (5:30)The behavioural aspect of financial decision-making (6:55)What does an independent mortgage broker do? (8:20)The primary benefits of working with an independent mortgage broker and a lender (10:10)How independent mortgage brokers can offer their services for free (12:01)The increasing number of Canadians using mortgage brokers (13:33)The hidden benefits of working with a mortgage broker (15:40)All lenders are not created equal (17:36)How to choose the best lender for you (21:50)The fixed and variable costs of buying a property (23:44)The biggest pain points for Canadian home buyers right now (27:46)Morgan’s advice for a first-time home buyer (31:42)The benefits of a holistic approach to your finances (34:42)How you can save yourself some money with your mortgage (39:42)What to do to get ready for taking a mortgage (44:45)Different ways to leverage the equity in your home (46:26)And much more!
Mentioned in this Episode:
Morgan Englebretsen on InstagramMorgan Englebretsen on TikTokCall Morgan Englebretson: 514-923-6606Mortgage Architects WebsiteTulett, Matthews & AssociatesKeith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios
Thanks for Listening!
Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112
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With Tax Day on the horizon, tax tips, tricks, and hacks are being shared more than ever. From making charitable donations to incorporating and running everything through a company, word on the street is that the wealthy use particular tax strategies to minimize the amount of tax they owe.
But while it might be tempting to try them, making the wrong decision about your taxes is an expensive mistake that can cost you many times more than what you would have paid initially.

To help make sure you’re on the right track, tax specialist Réginald Pierre-Louis is back for part two of our tax myth series. Réginald has more than ten years of practice in the field and has a great way of making complex taxation rules and legislation more understandable so you can make sure you’re filing accurately.

In this episode, Marcelo and Réginald talk about why it’s challenging to define a threshold for richness, how facts and feelings shape our perspective, what research shows about who pays the most taxes, and why many of the commonly shared “rich people” tax strategies might not be suitable for you.

Thank you for listening!

Key Topics:
Why it’s so hard to come up with a definition of a rich person (1:37)How facts and feelings shape our perspective on wealth and poverty (7:25)People on both ends of the wealth spectrum are abusing the system (10:25)Surprising income statistics across Canada (12:35)Myth #1: The rich don’t pay taxes (16:33)Tax distribution across income levels (19:21)Myth #2: When wealthy people make charitable donations, they’re doing it because they’ll get it back on their tax return (22:00)Myth #3: I’ll create a company for myself like the rich do so I can get tax savings (26:18)Myth #4: I can include my personal expenses within my company (31:32)Myth #5: My corporation can pay a salary to my spouse and children, and since they have a lower tax rate, I’ll pay less in taxes (35:58)Myth #6: My company should own my home (37:07)Myth #7: I’m saving money in my business by paying cash and avoiding sales taxes (43:05)




Mentioned in this Episode:
Réginald Pierre-Louis on LinkedInTulett, Matthews & AssociatesKeith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios


Thanks for Listening!
Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112
 
Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!
 
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It’s getting to be that time of the year again— Tax Day is approaching and you start hearing conflicting things from friends and family about what is—and what isn’t—okay when filing your taxes. There’s a lot of misinformation out there about various deductions, loopholes, and write-offs that can get you into hot water if you blindly follow someone else’s bad advice.
We’ve all heard people saying the rich don’t pay taxes, and the government is robbing us, or horror stories of being taxed at over 50% once your income is more than $100,000. Social media has amplified the problem, spreading myths as fast as truth and making it difficult to know what’s fact and fiction. Add in recent changes in the tax laws and you are left feeling confused and unsure of where to go for the right answers.
Countering bad advice, especially during tax season, is crucial. So we reached out to expert and tax specialist Réginald Pierre-Louis to bust several tax myths and give you the facts to help ensure that you file accurate returns.  His expertise can help ensure that you receive money the government owes you and avoid penalties for underreporting.
In this episode, Marcelo and Réginald break down common tax mistakes and misconceptions, explore why these tax myths are so widespread, and share the facts you need to know as a Canadian investor.
Thank you for listening!
Key Topics:
Réginald’s extensive background as a tax specialist (1:21)Réginald’s passion for teaching and what sparked his interest in tax (3:00)Myth #1: If we’re not living together, we’re not common-law partners (5:44)Myth #2: I have no income, so I don’t need to file taxes (9:39)Myth #3: My accountant is no good - I had to pay taxes (10:54)It’s your responsibility to share all relevant information with your accountant (14:04)Myth #4: I make above $100,000/year, so my tax rate will be 50% (16:41)Myth #5: I won’t accept this salary increase or work overtime since my tax is more than the salary increase (23:07)Examples of situations which might lead to an unexpectedly large tax bill at the end of the year (29:00)Myth #6: I work at a bar/restaurant. Aren’t tips tax-free? (32:17)Myth #7: RSPs are useless because future withdrawals are taxed (35:46)The emotional and psychological aspects of finance (43:39)Myth #8: Québec is the most taxed place in Canada (47:47)

Mentioned in this Episode:
Réginald Pierre-Louis  on LinkedInL’investisseur transforméÉpisode 18: Mythes et croyances populaires en fiscalité (partie 1)Épisode 19: Mythes et croyances populaires en fiscalité (partie 2)Revenu Québec Guidance | Employees Who Receive TipsTulett, Matthews & AssociatesKeith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios



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Every year more complexity is added to the Canadian tax system, making it difficult for taxpayers to keep up to date.
Understanding how to properly file your tax return and take advantage of deductions and credits can put more money back in your pocket, which can go a long way in achieving your financial goals. Your tax returns also entitle you to certain social benefits, and appreciating the various requirements can help you avoid costly mistakes.
Whether working with a tax professional or filing yourself, there's always something new to learn about taxes. To help you gain clarity for this tax season, we’re doing a deep dive into Canadian tax returns with our colleague, Hugh Campbell.
Keith and Hugh discuss why it’s essential to file your taxes accurately and on time, when spouses should file together, how requirements differ across provinces, the tax benefits of RRSPs and tax-free savings accounts, how to ensure you’re maximizing your allowable deductions, additional filing requirements for investors with foreign assets, and so much more!
Thank you for listening!
Key Topics:
Hugh’s move from a neurobiology major to CPA (1:27)Early lessons from PricewaterhouseCoopers (2:42)The most rewarding aspects of working with individuals and small business owners (3:35)Consequences of not filing your tax returns on time (4:30)When and why families must file together (6:47)The types of information available through CRA downloads (10:13)Differences between preparing income tax returns in Quebec and other Canadian provinces (14:37)How an RSP works and its value from a tax perspective (17:10)Choosing between an RSP and a tax-free savings account (19:13)What to do with your tax refund (21:04)What you need to know about the new tax-free first home savings account (23:14)Key considerations around whether interest can be tax deductible (27:56)Criteria to qualify for home office deductions (30:54)Senior tax savings from income splitting (33:07)The most important credits for seniors (34:10)Tax implications of financial gifts to your adult children (36:39)How to treat foreign-source income on your Canadian tax return (40:04)When to file Form T1135 (41:00)Differences in tax consequences for cash and stock charitable contributions (47:46)Tax requirements when selling residential property (52:15)How to handle a notice of assessment (58:03)What happens if you don’t pay your tax bill in full (59:14)How long to keep your tax records (1:01:04)Hugh’s tips for making the tax filing process easier (1:03:27)Common tax reporting mistakes (1:04:13)Hugh’s perspective on the evolution of the Canadian tax system (1:05:57)And much more!
Mentioned in this Episode:
Tulett, Matthews & AssociatesKeith Matthews’ Book | The Empowered Investor: A Guide to Building Better Portfolios
Thanks for Listening!
Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112
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Financial fraud is a serious issue that has unfortunately cost many investors their hard-earned savings. Although technology has helped fraudsters find new ways to dupe investors, the same core themes appear again and again.
From Ponzi schemes to fake investment opportunities, these scams lure investors in with promises of high returns and low risk. In reality, there’s no increased reward without increased risk, and even when these plots are revealed, many people never recover what they invested.
The best way to protect yourself is to be aware of the warning signs and educate yourself on the steps you can take to protect your investments. In this episode, Keith and Marcelo explore the world of financial fraud, some famous examples of these schemes, how they work, how you can safeguard your finances, and so much more!
Thank you for listening!
Key Topics:
Why we’re talking about financial fraud (1:14)Different types of financial fraud and famous examples (3:01)How Ponzi schemes work (6:24)Why the biggest Ponzi schemes are usually uncovered during market corrections (9:57)Charles Ponzi’s landmark scheme in the 1920s(10:51)How Bernie Madoff kept his fraudulent scheme running for 20 years (12:10)Earl Jones’s Canadian scheme targeting the elderly in the 80s and 90s (15:08)Common themes among these long-running Ponzi schemes (17:17)What the sentencing of Gary Sorenson and Milowe Brost show about the significant differences in penalties for white collar crime in Canada vs. the US (18:26)The Norbourg scandal in Montreal (19:33)The biggest reasons people keep falling for these schemes (21:09)Warning signals to be aware of to protect yourself from financial fraud (24:15)The AMF’s five steps to avoid fraud (26:36)And much more!
Mentioned in this Episode:
● Netflix Documentary | Madoff: The Monster of Wall Street
● Diana B. Henriques’ Book | The Wizard of Lies: Bernie
Madoff and the Death of Trust
● John Carreyrou’s Book | Bad Blood: Secrets and Lies in a
Silicon Valley Startup
● Movie | Norbourg
● Autorité des marchés financiers (AMF)
● Ontario Securities Commission
○ Investment Fraud Checklist
● Canadian Securities Administrators
● Bethany McLean & Peter Elkind’s Book | The Smartest
Guys in the Room: The Amazing Rise and...