393 –  Investing Basics – Where to Start Now That You're Debt Free

393 – Investing Basics – Where to Start Now That You're Debt Free

Author: Doug Hoyes March 12, 2022 Duration: 33:33

You've paid off your debts. Now you have some cash to invest. How do you get started? On today's podcast, Doug Hoyes and Ted Michalos walk you through what you need to consider before you invest. They explain how TFSAs, RRSPs, RESPs, and RDSPs work and when you should put your money in each. They also discuss the risks that come with stock trading and the true costs of mutual funds. Doug and Ted also explain the different investor personality types so you can better understand yourself. Tune in for great practical advice!

 

Resources Mentioned in the Show:

 

RDSP & RESP expert – Big Cajun Man's website: https://www.canajunfinances.com/about/

Jason Heath, Certified Financial Planner: https://objectivefinancialpartners.com/

Sandi Martin, Certified Financial Planner: https://springplans.ca/

Investment Selling is Not Financial Planning: https://www.hoyes.com/blog/investment-selling-is-not-financial-planning/

Podcast 360 – Planning Retirement with Limited Savings & Income: https://www.youtube.com/watch?v=nth1wjv5s8M

Podcast 215 – What is a Robo-Planner? Automated Financial Planning: https://www.youtube.com/watch?v=rXW7a7EdCKA


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
Podcast Episodes
608 – Advice or Sales Pitch? Why Canadians Have Lost Trust in Banks [not-audio_url] [/not-audio_url]

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607 – Credit Score vs Cash Flow: What Actually Matters in a Crisis? [not-audio_url] [/not-audio_url]

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A high score does not always indicate stable finances. It is possible to keep up with most of your bills and maintain a decent credit score while still feeling like you are falling behind. When cash flow is stretched, ev…
605 – Owe CRA Tax Debt? The Biggest Loan Mistake Canadians Make [not-audio_url] [/not-audio_url]

Duration: 30:23
Owing money to the CRA can feel urgent, and taking out a loan might seem like the fastest way to fix it. But in many cases, it can make your situation worse. Doug Hoyes and Ted Michalos break down when borrowing to pay o…