588 – Are You Financially Fit Enough to Invest?

588 – Are You Financially Fit Enough to Invest?

Author: Doug Hoyes December 6, 2025 Duration: 32:17

Start investing because your numbers say "go," not because the internet says "now."
This episode will remove the guesswork from entering the world of investing and provide a straightforward way for you to judge your readiness. Using simple math in layman's terms (think "why paying 20% interest beats chasing a maybe 10% return"), we discuss what to do first, how to keep bills safe from market swings, and when it makes sense to get professional help.

(00:00) Welcome Charlie Kovacs from Hoyes Michalos
(02:00) Do Canadians need to take big risks to get ahead? Myth vs. Reality
(05:00) Pay debt vs. Invest
(08:00) Fitness Test: Do you know your ins and outs?  
(11:00) Using your credit score as a tool, not a toy
(13:00) Emergency fund and liquidity
(16:30) Defining your "why" goals
(20:00) Is saving for a first home realistic?
(23:00) Are you knowledgeable enough to invest? Core concepts to know
(27:00) Choosing vehicles: TFSA, RRSP, employer match, and more

Should You Use a Bonus to Pay Debt or Invest?

Which Debts Should You Pay First?

What is the Right of Offset and What Should You Do About It?

Credit Repair Strategies and Rebuilding Course

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Hoyes Michalos YouTube Channel

Learn About Debt Relief Options in Ontario


Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personal guidance from a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions, strategies, or digital tools/apps discussed.

 


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: 100

Debt Free in 30
Podcast Episodes
596 – What To Do First When You're Behind On Bills [not-audio_url] [/not-audio_url]

Duration: 30:55
Behind on bills and not sure where to start? If money is tight and payments are stacking up, this episode gives you a clear starting point. Doug Hoyes and Licensed Insolvency Trustee Maureen Parent break down what to pri…
594 – Why Even High-Income Earners Struggle with Debt [not-audio_url] [/not-audio_url]

Duration: 30:17
More and more high-income Canadians are finding themselves under financial pressure. Doug Hoyes and Ted Michalos examine the shift they are seeing firsthand and challenge some common assumptions about who struggles with…
590 – Will Your Investments Survive Serious Debt? [not-audio_url] [/not-audio_url]

Duration: 29:52
If you're carrying serious debt but also have money in an RRSP, TFSA, or other investments, one of the biggest fears is this: Will I lose everything if I get help? Doug Hoyes and Ted Michalos, Licensed Insolvency Trustee…
587 – Should Parents Help Adult Children with Debt? [not-audio_url] [/not-audio_url]

Duration: 30:00
With housing costs, student loans, and everyday expenses skyrocketing, more young adults are turning to their parents for financial support. Doug Hoyes and Ted Michalos unpack the emotional, financial, and practical real…