Smart Advice with Carissa Lucreziano

As Canada–US trade dynamics evolve alongside global instability and rising inflation, they break down how major policy decisions are made and what they mean for Canadians in practical terms. This discussion explores the balance between long-term economic growth and short-term affordability, the role of natural resources and energy in Canada’s future, and how global events, from tariffs to geopolitical conflict, are directly impacting Canadian households.Drawing on their experience at the highest levels of government, Lisa and Marco offer perspective on how Canada is positioning itself on the global stage, where opportunities lie, and what needs to happen next to drive sustainable growth and stability.3 Reasons Why You Should Listen to This Episode Understand how global events, from tariffs to geopolitical conflict, are shaping Canada’s economy and directly impacting your financesLearn how Canada is balancing long-term economic growth with short-term affordability pressures, and what that means for householdsGain perspective on how major policy decisions are made at the federal level and how they influence everyday economic outcomes.About Lisa RaittLisa Raitt is a former federal cabinet minister, vice-chair of CIBC Capital Markets and newly appointed member of Prime Minister Mark Carney’s advisory committee on Canada-US economic relations. During her time in government, she held several senior portfolios, including natural resources, labour, and transport, playing a key role in shaping Canada’s economic and regulatory landscape. Today, she brings deep insight into capital markets, business strategy, and public policy, advising clients on navigating complex economic environments.About Marco MendicinoMarco Mendicino is a former Member of Parliament who served as Minister of Public Safety and Minister of Immigration, Refugees and Citizenship. Most recently, he acted as Prime Minister Mark Carney’s interim chief of staff during a pivotal period in Canada–US relations. With extensive experience in law, public policy, and government leadership, he offers a behind-the-scenes perspective on decision-making at the highest levels.Resources Mentioned / Links List  ●      CIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | Spotify●      Visit CIBC for more Smart Advice●      The Raitt Stuff - PodcastEnjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this to your friends and family. Hosted on Acast. See acast.com/privacy for more information.

Here are three reasons why you should listen to this episode:Discover the key themes shaping financial decision-making, from economic shifts to evolving investor needs.Understand how resilience emerged as the strongest guide for navigating uncertainty.Learn how expert insights can inspire clearer and more confident choices moving forward.ResourcesCIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | SpotifyVisit CIBC for more Smart AdviceEpisode Highlights[00:21] Season Wrap-Up: The Themes Defining Financial Decision-Making Over the episodes throughout Season 3, Canadians faced shifting economic conditions and changing financial needs.Host Carissa Lucreziano reflected on how each conversation revealed what people were working through.Resilience emerged as the strongest theme as guests showed how steady planning created opportunity.[02:25] Carissa Lucreziano: “In order to build the resiliency of our country's economy, you have to think about things in the long term, and you also have to go with what we're good at, and what we are good at in this country is natural resources.”The season showed the clear priorities and choices that helped Canadians stay focused on what they could control.[01:50] Lisa Raitt: Resilience and Economic Opportunities in CanadaCanada’s economy showed strengths extending beyond the headlines.Lisa Raitt pointed out that Canada’s natural resources and innovation hubs as long-term advantages.She emphasized how focusing on what Canada did well supported national resilience.Her insights highlighted why a broader view helped Canadians see opportunity in shifting global conditions.[03:32] Andrew Grantham: Housing Market Realities Across ProvincesHousing trends continued to shift as interest rates and regional conditions evolved.Senior Economist Andrew Grantham explained why affordability pressures persisted in major provinces.He noted the large urban markets remained buyer-heavy, creating downward pressure on prices.[04:37] Andrew Grantham: “What we are seeing there is that this is still a buyer's market. There are still more sellers than there are buyers, and that is putting a little bit of a downward pressure on prices.”His perspective gave Canadians a clearer sense of the regional forces affecting home decisions.[04:48] Ian Gallagher: Entrepreneurship, Innovation and Succession PlanningEntrepreneurship continuously reshaped Canada’s economic landscape, adapting it to new technology and ideas.Ian Gallagher explained younger companies used digital tools to drive growth and margins.He also highlighted how immigrant entrepreneurs brought creativity and momentum to many sectors.His insights showed why business owners benefited from planning early for future succession.[06:13] CIO David Wong: Investing Wisely Through Short-Term NoiseMarket volatility continued to test investor confidence throughout the season.Chief Investment Officer, David Wong explained how emotional reactions often led to missed financial gains.He explained why diversification and patience played a key role in navigating uncertainty.The conversation encouraged Canadians to stay aligned with their timeline rather than the daily news. [07:24] Aaron Young: Fixed Income’s Role in a Balanced PortfolioFixed income remained a steadying force during uncertain market periods.According to Aaron Young, bonds helped offset equity risk and protect capital.He emphasized that fixed income still held value for investors at every experience level.His guidance reinforced the importance of keeping fixed income as part of a balanced portfolio.[08:36] Meric Koksal: Alternative Investments and Intergenerational Wealth PlanningAlternative assets became increasingly relevant as investors searched for new sources of return.In her conversation with Carissa, Meric Koksal outlined why private equity, private credit and real estate gained traction.She noted how longer time horizons supported higher potential growth for younger generations.Her perspective showed how alternatives complemented traditional strategies and strengthened family planning.[10:20] Michael Keaveney: Teaching Financial ResponsibilityBuilding strong money habits early continued to shape long-term outcomes for young Canadians.As Michael Keaveney discussed in his episode, giving children a voice encouraged responsibility and confidence.[10:48] Michael Keaveney: “I think it's entirely appropriate and a good idea for children to learn that the money didn't fall out of the sky, that a plan was put together, a conscious choice was made, maybe even at the expense of other options, and as time goes on, the child can have an increasingly a voice in that plan.”He explained how involvement supported better financial literacy over time.His insights highlighted how even small contributions taught meaningful lessons.[12:19] Richard Voss: Estate Planning and Lifetime GivingLifetime giving emerged as a meaningful approach for modern estate planning.In his appearance, Richard Voss explained how passing down financial gifts during a life time creates a greater positive impact for loved ones.In his experience, many inheritances arrived too late to be fully useful; Canadians are living longer, and the passing on of wealth happens much later.His guidance encouraged Canadians to support the next generation when it mattered most. [13:50] Jamie Golombek: Year-End Tax Planning for a Stronger Financial FutureYear-end remained a key moment for strengthening financial plans.Jamie highlighted how timely FHSA contributions could make a real difference.He outlined how charitable giving and donating appreciated securities created tax efficiencies.His advice helped Canadians enter the next year with greater clarity and preparedness. [15:30] Dr. Noah Levine: Health and Financial Well-BeingPersonal well-being will always have a significant impact on long-term financial success.Healthy workplaces supported stronger performance, according to Dr. Noah Levine.He noted employers played an important role in protecting employee well-being.The discussion showed why caring for health helped sustain better financial decisions. [17:35] Investing in Personal Growth and Future OpportunitiesPersonal growth emerged as a central driver of future financial opportunity.Scott McGillivray encouraged Canadians to invest in skills and relationships.[18:02] Scott McGillivray: “The absolute number one investment right now in 2025 that someone can make is in themselves. This is the time to up your game.”He emphasized acting early to be ready when new opportunities appeared.His message framed self-investment as a foundation for future progress.About CarissaCarissa Lucreziano is a financial advice expert at CIBC, with extensive experience in wealth management, personal finance and strategic planning. Carissa specializes in guiding individuals through critical life transitions, including retirement, entrepreneurship and relationship changes, offering tailored solutions to help them achieve their financial goals with confidence. Her financial expertise enables her clients to build economic resilience and secure their futures.Carissa is passionate about empowering Canadians to take control of their finances by providing clear, actionable advice that simplifies complex financial decisions. She is dedicated to fostering financial confidence, ensuring her clients can navigate challenges and milestones with clarity and success.Connect with Carissa Lucreziano on LinkedIn.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this to your friends and family. Although Canada’s economy plays a part, your financial decisions matter more. This season revealed how Canadians are navigating change with clarity and intention. With the right perspective and steady habits, every decision becomes a step toward a stronger financial future.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

Here are three reasons why you should listen to this episode:Gain insight into the practical and emotional complexities of intergenerational wealth transfer, including the rise of living gifts.Discover how wills and estate plans are key to ensuring your wishes are respected and your family’s future is protected, along with strategies on having open family conversations about inheritance.Learn why financial independence matters and how the younger generation can build wealth beyond inheritance.ResourcesCIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | SpotifyVisit CIBC for more Smart AdviceRichard Voss: LinkedIn | CIBC ProfileEpisode Highlights[00:20] The Great Wealth Transfer in CanadaCanada is seeing the largest intergenerational wealth transfer in its history.Richard Voss, Director of Wealth Strategies at CIBC, brings years of experience helping families manage the emotional and financial sides of passing on wealth.Gifting wealth while still alive is becoming more popular as Canadians live longer and want to see the impact of their generosity.Many people inherit at older ages, but financial support might have been more useful earlier in life.Giving during one’s lifetime can strengthen family relationships and create meaningful opportunities for the next generation.[02:45] Richard: “And so the question then arises, could a gift have been more effective and valued if they had received it at an earlier age? And I would argue, the answer to that is a resounding yes.”[03:44] Why Having a Will MattersDespite the increasing number of people planning to make a wealth transfer, nearly half of Canadians still don’t have a will.Richard breaks down why this gap exists, from discomfort discussing mortality to the belief that “it can wait.”[05:38] Richard: “Making a will is so important because it provides guidance to your survivors and your executors on how you want your assets divided. It reduces conflicts as your instructions are captured in a clear way and are formally recorded in a legal document.”A clear and legal will ensures your wishes are respected. Without one, provincial laws decide how assets are divided, which can lead to unintended and costly outcomes.However, a will alone is not an estate plan. Richard explains that a complete plan also includes powers of attorney and beneficiary designations.Every family’s situation is unique, and creating a complete plan ensures both financial and emotional peace of mind.[09:17] Starting Family Conversations About Wealth TransferTalking about wealth transfer, inheritance, and legacy can be uncomfortable, but it is necessary.Richard recommends regular family meetings to maintain transparency and consistency.[10:28] Richard: “Having everyone together is better than having separate one on one conversations. It allows for consistency and continuity and the ability to ask questions both ways.”Establishing ground rules helps create a safe, judgment-free space for everyone to share their thoughts.These conversations can strengthen family understanding, align values, and prevent future misunderstandings.[13:42] Building Financial Independence for the Next GenerationRising costs of living mean many young Canadians can’t rely on inheritance alone for financial security.Richard shares practical steps, starting with living within their means and saving with purpose.He outlines the 20/50/30 approach: 20% to savings, 50% to fixed expenses, and 30% to discretionary spending.The focus, he says, should be on developing strong habits early and working with financial advisors to build long-term wealth.[17:40] The Role of Advisors and Ongoing Financial PlanningCarissa reflects on Richard’s advice and emphasizes the importance of consistency and professional support.Together, they highlight how collaboration with a trusted advisor can help Canadians stay on track with financial goals.Richard encourages those living at home or with fewer expenses to take advantage of the opportunity to save more.Commitment and consistency are key to achieving financial goals and building confidence over time.[20:10] Managing and Making the Most of an InheritanceRichard advises taking time to pause after receiving an inheritance, especially if it comes from a loss.It is also beneficial to take the time to reflect, especially after the loss of a loved one..For significant inheritances, he recommends creating or updating a financial plan with professional advice.Even a modest inheritance can strengthen financial stability when used to reduce debt or invest for the future.[22:32] Planning the Future, One Step at a TimeCarissa closes the episode by emphasizing that planning for the future takes time and patience.Even small steps, like writing a will or starting family discussions on wealth transfer, can make a meaningful difference.The key is to start early, involve loved ones, and seek professional guidance when needed.Thoughtful planning today can build stronger financial foundations for generations to come.About Richard VossRichard Voss is the Director of Wealth Strategies at CIBC Private Wealth. He has spent years helping Canadians navigate the complexities of financial decision-making. His work focuses on creating thoughtful strategies that align financial goals with personal values. Through his guidance, families gain clarity on how to preserve and share wealth across generations. Richard is known for bringing both technical expertise and a deeply human approach to every conversation.Richard understands that strategic insight must also have empathy. He helps clients make informed decisions about wills, trusts, and long-term planning whilst maintaining harmony within their families. His approach emphasizes education, collaboration, and confidence in managing wealth. Above all, Richard is passionate about helping Canadians protect what matters most to them while building legacies.Connect and learn more about Richard Voss on his LinkedIn or CIBC Profile.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this to your friends and family. Wealth is changing hands faster than ever as a new generation steps into financial responsibility. Families across Canada are learning how to give, receive, and plan with purpose. This brings both opportunities and challenges, from tax implications to keeping family conversations. Explore how thoughtful planning can make every wealth transfer count, today and for the generations to come.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, Twitter, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

Here are three reasons why you should listen to this episode:Learn why now is the time to take advantage of Canada’s current capital gains rate and how it can impact your investment returns.Explore the ins and outs of owning property outside of Canada and how to avoid double taxation and cross-border estate issues.Hear practical year-end tax planning strategies, from charitable giving to tax-loss selling, to help you keep more of your wealth and achieve your financial goals.ResourcesCIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | SpotifyVisit CIBC for more Smart AdviceJamie Golombek: Website | LinkedIn | X (Twitter) | CIBC ProfileEpisode Highlights[00:21] Why Tax Planning MattersTaxes shape nearly every financial choice, from investing to passing down property.Without tax planning, policy shifts can create unexpected costs and reduce wealth.Jamie Golombek, Managing Director of Tax and Estate Planning at CIBC, brings over 25 years of experience to the discussion.His insights highlight how smart strategies can preserve assets and support long-term goals.[01:49] What to Expect from Tax PolicyCanadians face uncertainty as new government leadership and upcoming budgets could shift tax rules.Jamie outlines the likelihood of higher taxation for top earners and possible adjustments to credits and exemptions.[02:24] Jamie: “No one knows what will happen. We are expecting a fall budget. I mean, the latest information we have from publicly available sources is that the budget will drop in October. We're going to wait and see what will be in that budget.”He explains why tax cuts are unlikely and why rates at the high end can discourage productivity.Keeping a close eye on government priorities is essential for anticipating the next wave of changes. [05:05] Capital Gains and Investment StrategyThe proposed increase in the capital gains inclusion rate was cancelled, creating relief for many investors.Jamie explains that the rate remains at 50%, with both advantages and drawbacks.Investors should use this favorable rate strategically, particularly in non-registered accounts.Real estate and equity holdings can benefit from thoughtful positioning under current rules.[08:44] Jamie: “Take advantage of capital gains; the fact that we have the lowest rate, even lower than the rate on dividend income, which is also favorable because the dividend tax credit. Take advantage of it, both in your portfolios, your non-registered portfolios, as well as if you're doing any real estate investment.”[09:01] Navigating Property Ownership AbroadOwning property outside Canada can expose investors to double taxation, foreign estate taxes, and currency risk.Jamie stresses that Canadians are taxed on worldwide income, so all gains and rental income must be reported.Local tax advice, paired with Canadian expertise, is key to managing obligations across borders.Proper planning can prevent costly errors and preserve long-term property value. [14:04] Tax Planning for Wealth TransfersPassing down cottages or vacation homes raises both emotional and financial challenges.Jamie highlights the need for family conversations to determine if children actually want the property.Deemed dispositions at death can create large tax bills, requiring liquidity planning.[16:55] Jamie: “Remember, you haven't actually sold it. There is no real money, but there is this sort of deemed disposition concept, and therefore you've got to come up with the cash to pay the tax.”Options such as sinking funds, equalizing assets, or family trusts can help families transition smoothly.[18:13] Keeping Inheritance FairBalancing fairness between children is a common concern in estate planning.Jamie explains how dividing assets can work but stresses the importance of considering tax consequences.Life insurance is one tool that can equalize estates or cover tax liabilities.Coordinated planning with advisors ensures both fairness and tax efficiency.[21:12] Smart Moves for Year-EndPractical strategies can make a big difference before the calendar year closes.Jamie recommends tax-loss selling, charitable donations, and contributions to first-home savings accounts.Business owners should also review compensation strategies, weighing salary versus dividends.Year-end deadlines make it critical to act early and plan ahead.[23:21] Tax Planning, Wealth Building, and the Path ForwardProactive tax planning protects wealth and reduces unnecessary costs.Jamie directs listeners to his website and Financial Post column for ongoing guidance.The key lesson is that taxes, while inevitable, can be managed with foresight and good advice.Building long-term financial security starts with planning, strategy, and informed choices.About Jamie GolombekJamie Golombek is the Managing Director of Tax and Estate Planning at CIBC. With more than 25 years of experience, he has become one of Canada’s most trusted voices on tax strategy and wealth preservation. His expertise spans tax policy, capital gains planning, property ownership, and intergenerational wealth transfer. Jamie is also a longtime contributor to the Financial Post, where his weekly column helps Canadians make sense of complex tax issues and apply them in practical ways.Respected for his ability to simplify complicated topics, Jamie has appeared on BNN and CTV News. He has also been a frequent guest on podcasts and conferences across the country. His commentary bridges technical detail with everyday financial decisions, giving clarity to Canadians navigating taxes in real time. Through his work, he equips individuals and families with strategies to minimize costs, protect assets, and build wealth with confidence.Connect with Jamie Golombek on his LinkedIn or CIBC Profile.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this to your friends and family. Taxes may be unavoidable, but smart strategies can change the outcome. Discover how tax planning helps preserve wealth, reduce costs, and prepare for policy changes. Learn how to navigate property ownership, cross-border rules, and wealth transfers while keeping more money toward your goals.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

Here are three reasons why you should listen to this episode:Learn how to approach saving for future education as a long-term goal, and with an investor mindset.Learn how to build a resilient RESP investment strategy that adapts to market shifts, and discover investment solutions designed to evolve with your child’s age.Gain insights into how to build financial literacy with your children and family, so you can work together to achieve your long-term education planning goals.ResourcesCIBC's "Smart Advice" Podcast and WebsiteVisit CIBC for more Smart AdviceMichael Keaveny: LinkedInCIBC Education PortfoliosCIBC Registered Education Savings Plan CalculatorCanada Education Savings GrantCanada Learning BondEpisode Highlights[00:21] The Rising Need for Early Education PlanningEducation has become one of the most significant financial milestones for Canadian families.The challenge of covering post-secondary costs is growing rapidly, with projected expenses expected to exceed $100,000 for today’s children.Carissa Lucreziano welcomes Michael Keaveney, Vice President of Managed Solutions at CIBC Asset Management, to explore how families can financially prepare.With decades of investment experience and a personal understanding of education planning, Michael offers strategies grounded in both data and lived insight.[03:02] Starting Early: Why Time is Your Greatest AssetSaving for education can feel overwhelming, especially alongside other priorities like mortgages and retirement.Yet starting early and contributing consistently can dramatically shift what’s possible through the power of compounding.[04:14] Michael: “Those two things, starting early and having a regular investment plan are actually behaviors within your control, and focusing on what's in your control, is central to any investment strategy.”Michael explains how automatic, regular investments help parents stay on track and reduce future financial stress.Early action builds both savings and financial flexibility as your child’s path evolves.[07:32] Building a Resilient RESP StrategyMarket volatility can make education investors second-guess their decisions, especially during uncertain times.[08:56] Michael: “You do get periodic spikes in volatility in the market for various and different reasons, but we know that if you take a longer-term timeframe, the market bounces back and goes on to new highs.”But staying invested over the long term remains one of the most effective ways to reach savings goals.Michael shares his own experience of riding out major market downturns and stresses the importance of adjusting risk as the goal gets closer.Carissa adds that a resilient strategy includes knowing when to shift from growth to stability.[11:03] Understanding CIBC's Education PortfoliosEducation timelines require unique investment strategies that evolve with a child’s age.CIBC Education Portfolios are designed to shift automatically, from equities to bonds, as the target date approaches.Michael explains how these portfolios offer a built-in glide path, helping parents stay aligned with their child’s educational timeline without constant rebalancing.Carissa notes how this reduces guesswork and supports parents who prefer a hands-off yet intentional approach.[17:45] Teaching Kids Financial Resilience Through SavingsEducation planning isn’t just about money, but it’s an opportunity to teach lasting financial habits.[18:08] Michael: “I think it's entirely appropriate and a good idea for children to learn that the money didn't fall out of the sky. That a plan was put together, a conscious choice was made, maybe even at the expense of other options, and that the plan continues to be monitored.”Bringing children into the savings journey can build their confidence, agency, and understanding of long-term goals.Michael suggests giving children the chance to contribute, even in small ways, to foster ownership and awareness.Carissa shares how celebrating milestones like grants or savings goals can make the experience both personal and impactful.[21:35] What If Plans Change? RESP Flexibility ExplainedEducation paths aren't always predictable. Some children take time off, change direction, or choose alternatives.RESPs offer flexibility with up to 36 years to use the funds and options to transfer, repurpose, or adjust as needed.Michael outlines various RESP scenarios and explains how different rules apply depending on the child’s path.Carissa emphasizes the importance of speaking with a financial advisor to understand which options are available and best suited for your family.[24:37] Building a Smarter Education Planning StrategyEducation planning for your child may feel like a big goal, but it’s one of the most rewarding investments a family can make.Starting early, contributing regularly, and staying flexible helps parents build not just savings and confidence.Michael emphasizes that you don’t have to know everything to begin.The important step is to get started on building a roadmap that supports your child’s future.About Michael Keaveney Michael Keaveney is the Vice President of Managed Solutions at CIBC Asset Management. With nearly 30 years of experience in wealth management, Michael has helped thousands of Canadians grow and protect their financial futures. His work focuses on building strategic investment solutions that align with long-term goals, including education planning, retirement, and wealth preservation. He also plays a key role in developing portfolio strategies that adapt to changing market conditions and evolving client needs.Known for blending expert insights with real-world practicality, Michael brings a clear and steady perspective to market volatility, portfolio design, and disciplined investing. As a parent who’s navigated the education savings journey himself, he offers both professional guidance and personal experience. He believes that starting early and staying consistent are the cornerstones of successful investing. Through his work, he empowers families to plan ahead with purpose and confidence.Connect with Michael Keaveney on his LinkedIn.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family. The cost of education is rising, but your peace of mind doesn’t have to waver. Discover how education planning and regular contributions can keep you on track. With the right strategy, you can stay prepared, no matter what the future holds.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

Here are three reasons why you should listen to this episode:Understand the rise of alternative investments and why public markets are no longer the full picture.Learn how private equity, private credit, and real assets can enhance diversification and hedge against inflation.Gain clarity on how everyday investors can access and implement alternatives in traditional portfolios.ResourcesAlternative investments enter the mainstreamCIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | SpotifyVisit CIBC for more Smart AdviceMeric Koksal: LinkedInEpisode Highlights[00:20] The Growth and Potential of Alternative InvestmentsTraditional investment strategies may no longer be enough for long-term growth. The public markets are shrinking, and fewer companies are going public. With over 20 years of global experience, Meric Koksal explains how alternatives like private equity, private credit, and real assets are gaining popularity among Canadian investors.[03:20] Meric: “With the public markets shrinking and companies staying private longer, it really fueled the growth of these alternative investments or another way to talk about it is the private investments.” [03:33] Examples of Alternative InvestmentsPrivate equity includes investments like growth equity and venture capital, giving investors ownership in private companies. Private credit is non-bank lending, where funds lend directly to private businesses. [05:02] Meric: “Private credit, which we hear a lot about, and it's arguably the fastest growing pillar within alternatives … for instance, a fund manager may be lending money to a soccer team to support a stadium construction.” Real assets are physical assets like infrastructure and natural resources that provide investment opportunities. Meric highlights these alternatives as key pillars in today’s investment landscape, especially in Canada. [07:00] Benefits of Private Investments[7:03] Carissa: “I found it surprising that 90% of companies are privately held. They're not listed on public markets. As you mentioned, public markets are just like a sliver of the pie, and it seems like we're missing out on that broader universe.”Private investments often offers higher returns due to lower liquidity compared to public markets. These investments provide unique opportunities not available in public markets. Private equity has a low correlation to public markets, making it a strong diversification tool. [11:16] Meric: “In a nutshell, these product alternatives provide great benefits to clients from higher income potential, higher return potential, without introducing any additional risk portfolio while you're providing some inflation hedging.”[11:46] Misconceptions About Alternative InvestmentsMany investors still think alternative investments are too complex or opaque.[13:01] Meric: “What used to be, you need to have a $5 million investment to even start talking about these investments is now accessible for as little as $25,000.”Monthly asset valuations and detailed reporting have made alternatives more transparent. Quarterly liquidity options are available, but these remain long-term investments. [15:44] Integrating Alternatives into Traditional PortfoliosMeric proposes a 50/30/20 framework: 50% equities, 30% fixed income, and 20% alternatives. Replacing some equity and fixed income allocations with alternatives increases diversification and yield. Private equity can replace public equity, while private credit and real assets can replace fixed income. Infrastructure investments offer both growth and steady income within the real assets pillar. [19:06] Advisors' Role in Alternative InvestmentsFinancial advisors play a key role in educating clients about the value of alternative investments. Advisors can help clients understand how alternatives can provide higher returns and diversification. With intergenerational wealth transfer occurring, long-term financial goals and risk profiles should be considered. Advisors are essential in guiding clients through the complexities of integrating alternatives into their portfolios. [21:27] CIBC's Approach to Alternative InvestmentsMeric discusses how CIBC Asset Management is making alternative investments more accessible to Canadians. CIBC leverages expertise across the firm, from private credit to commercial banking, to offer innovative solutions. The firm is committed to helping individual investors navigate alternatives with confidence. Meric highlights CIBC’s focus on building tailored investment strategies that meet clients’ evolving needs. [23:16] The Future of Alternative Investments in CanadaMeric encourages listeners to explore alternatives to diversify and strengthen their portfolios. Alternative investments offer higher returns and greater stability, especially during market volatility. Staying informed and working with trusted advisors is crucial as the landscape of alternatives evolves. With increased accessibility, the future of alternative investments in Canada looks promising.About Meric Meric Koksal is the Managing Director and Head of Product at CIBC Asset Management. She leads the firm’s efforts to make alternative investments more accessible to Canadian investors. With over 20 years of global investing experience, Meric has worked on trading desks from Wall Street to Singapore, bringing a broad, world-class perspective to the investment space.She is an expert in driving innovation within investment strategies, focusing particularly on alternative assets like private equity, private credit, and real assets. Her deep knowledge of these asset classes helps Canadian investors navigate today’s evolving market landscape. Passionate about increasing accessibility to alternative investments, Meric is dedicated to providing practical solutions for individuals looking to diversify their portfolios and achieve long-term financial goals.Connect with Meric Koksal on her LinkedIn.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family. The investment landscape may be shifting, but your approach doesn’t have to be. Discover how alternative investments can help you diversify and stay resilient, even in uncertain times.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

Market volatility isn’t new, but over the past year it has intensified due to tariff tensions, unpredictable interest rates, and persistent inflation, leaving investors to navigate contradictory and confusing economic signals. This raises a critical question for investors: how can you make wise decisions when news cycles outpace policy changes and traditional indicators seem unreliable?In this episode of Smart Advice, host Carissa Lucreziano welcomes back David Wong, Chief Investment Officer and Head of Total Investment Solutions at CIBC Global Asset Management. With decades of experience guiding investors through economic storms, David brings clarity to a chaotic moment. He breaks down what’s really happening with Canadian and global markets, discusses the potential for recession amid tariff uncertainties, and highlights the evolving roles of fixed income, gold, and alternatives in a diversified portfolio. Additionally, David also explores the impact of artificial intelligence as a future growth driver and its potential implications for investment strategies. He emphasizes the importance of staying invested during turbulent times and offers insights into low-volatility equity strategies as a practical approach to managing risk.This episode provides a strategic perspective on investing, offering practical insights on managing risk and refining your investment strategy amidst the noise of the headlines.Here are three reasons why you should listen to this episode:Understand how global tariff tensions and inflation are shaping Canadian markets—and what that means for your investment strategy.Discover effective strategies for building a resilient, diversified portfolio that can weather short-term volatility without sacrificing long-term growth.Explore the influence of artificial intelligence and alternative investments on market trends and your investment approach.ResourcesCIBC's "Smart Advice" Podcast and WebsiteVisit CAM Investment insights for timely expert insights and research Visit CIBC for more Smart AdviceChicago Mercantile Exchange FedWatch ToolC.D. Howe Institute’s Business Cycle CouncilMcKinsey Study on AI AdoptionGoldman Sachs Forecast on AI ImpactEpisode Highlights[00:25] Navigating 2025 with a resilient investment strategyMarket turbulence in 2025 means Canadians need to adapt their investment strategy.David Wong describes the current market in one word: “challenged”.[02:41] David: “More than anything, the uncertainty surrounding where tariffs will ultimately settle is creating challenges on planning for investments from businesses and big ticket purchases from consumers.”He outlines the major factors distorting traditional economic indicators—particularly tariffs—and explains how these distortions complicate policy decisions.As uncertainty continues to cloud the outlook, the importance of adaptable, long-term strategies becomes even more apparent.[04:23] Impact of tariffs and interest rates on investmentsTwo possible economic scenarios are in the Bank of Canada’s latest monetary policy report—one involving tariff resolution, and the other pointing toward global trade conflict.Interest rate expectations in the U.S. have shifted; markets are now pushing back rate cut forecasts due to persistent inflation.In Canada, rising unemployment and stubborn core inflation have increased the risk of recession, adding more weight to central bank decisions.Rather than react to every policy shift, a better investment strategy may be to build diversified portfolios that reflect multiple possible outcomes.[09:07] Volatility and market reactionsMarket movements in April reflect just how reactive investors have become to tariff-related headlines, swinging sharply with each new development.David emphasizes that inflation remains a key concern—one that hasn’t been resolved post-COVID and could be exacerbated by global trade tensions.In times like these, staying invested and resisting panic is more valuable than ever, especially for those with a long investment horizon.Low-volatility equity strategies are suggested as a practical way to stay the course while addressing investor concerns around risk.[13:08] Investment allocation and diversificationCarissa raises the question of whether investors should stay Canada-focused or explore U.S. and international markets for growth.David explains that while U.S. exposure has historically delivered strong returns, overconcentration can pose risks—especially in uncertain times.Artificial intelligence is flagged as a future growth driver with long-term potential. However, it likely will not make a significant impact for several years.Diversification across regions, sectors, and asset types—including gold and fixed income—is presented as a foundational strategy for resilience.[20:33] Risk management and investment approachRisk isn’t just about volatility, it’s about understanding what drives market changes and how to prepare for them.[21:06] David: “Reward and risk are related concepts, and you simply can't get reward without taking some level of risk.”David introduces CIBC’s Managed Solutions framework, built on three pillars: purpose, structure, and fulfillment.By focusing on fundamental diversification, his team aims to deliver consistent value even in unpredictable market conditions.Balancing short-term noise with long-term discipline remains key, especially as markets send mixed signals on a daily basis.[26:07] Final thoughts and investment frameworkDavid urges listeners to develop a clear investment framework aligned with their financial goals.He reinforces that earnings growth and bond yields—not daily headlines—are the real engines of long-term returns.[26:49] David: “The fear of missing out can be just as dangerous as overreacting to negative news. It's the Scylla and Charybdis of investing.”It’s critical to contextualize media-driven fear and avoid impulsive decisions; overcorrecting due to media can severely damage a portfolio.Canadians can confidently navigate market uncertainty, but have to remain disciplined while diversifying their portfolios and utilizing expert insight.About David David is responsible for CIBC Global Asset Management’s managed solutions investment process and portfolio management. His Total Investment Solutions team helps to determine the asset allocations and the construction of portfolios, researches, evaluates, and helps select the managers, and monitors the investments of the firm’s roughly $80 billion managed solutions programs. The team is also responsible for trading execution, beta management, and performance and risk oversight across all of CIBC Global Asset Management. In addition, David is a member of the CIBC Family Office’s Leadership Team and provides institutional asset allocation advice to ultra-high net worth individuals and families.David joined CIBC Global Asset Management in July 2011, and served as Managing Director, Investment Management Research (IMR) until June 2021. David has more than 26 years of industry experience in New York and Toronto.Connect with David Wong on his LinkedIn.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family. The economy may be unpredictable, but your investment strategy doesn’t have to be. Equip yourself with timeless strategies that work, even when the markets don’t.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

In this episode of Smart Advice, Carissa Lucreziano sits down with the Honourable Lisa Raitt, former federal cabinet minister and current Vice Chair of CIBC Capital Markets, to navigate the complex interplay of politics, economics, and markets. With insight shaped by decades of experience in government and now in the financial services sector, Lisa cuts through the noise to reflect on what matters most: Canada's sovereignty, strategy, and resilience in a rapidly changing global landscape.Be equipped with insights to make sense of volatility, understand the tools available to weather potential changes in US-Canada relations, and learn where smart money might be headed next. This episode is for every Canadian asking how to turn economic uncertainty into actionable opportunity.Here are three reasons why you should listen to this episode:Learn how political shifts, including Canada's new leadership, could reshape economic priorities at home and abroad.Understand the long-term implications of Donald Trump's return to the global stage and how Canada must prepare for potential changes in US-Canada relations.Gain clarity on growth opportunities in sectors like power generation, manufacturing, and national defence.ResourcesCIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | SpotifyThe Raitt StuffVisit CIBC for more Smart Advice, including a recent piece on ‘Navigating uncertainty and market volatility’Episode highlights[00:05] Are Canadians ready for future US-Canada relations?Lisa Raitt is introduced as a former cabinet minister in natural resources, labor, and transportation, now serving as Vice Chair at CIBC Capital Markets.Canadians today face rising global tensions, inflationary pressures, and heightened political transitions which are reshaping economic expectations and policies.Lisa shares her optimism over the clarity offered by Canada’s newly elected Prime Minister, Liberal leader Mark Carney, noting the stability—even in a minority government.The current US-Canada relations may shift with Prime Minister Carney’s approach, but Lisa warns against overconfidence.Trade negotiations require more than charisma—leaders must find practical ways to provide the U.S. with a political “win” while protecting Canadian interests.[02:24] The rise of economic nationalismLisa outlines how economic nationalism, especially in the US, has led to the weaponization of tariffs and elevated supply chain threats.Canada’s dependence on US trade is now seen as both a strength and a potential vulnerability—prompting calls for increased self-reliance.She advocates for doubling down on sectors where Canada already has a comparative advantage: energy, agriculture, mining, and forestry. [08:48] Lisa: “What has happened in the time of Trump is we realize that you can't continue on just accepting the United States growth as the growth that we're going to get; that we actually have to do some work ourselves” Government must play a dual role—advocating for global trade fairness while supporting long-term investment in domestic capacity and infrastructure. [09:31] Understanding Trump’s policy visionUnlike previous leaders, Trump’s economic policy direction is guided less by data and more by ideology, particularly focused on ‘Made in America’ mandates.Lisa emphasizes that traditional counter-arguments (e.g., logic, economic impact) often fall flat with the Trump administration.Trump is unapologetically focused on rebuilding American manufacturing—painful or not—for the long-term benefit of US jobs and industrial strength.Canadian leaders and citizens must stop assuming rational policy shifts or midterm electoral changes in the US will automatically solve trade tensions. [12:18] What’s driving American progress?Despite controversial rhetoric, some of Trump’s policies—bringing semiconductor production back, advancing nuclear energy—could deliver strategic benefit.The concern lies in whether these wins are drowned out by large-scale costs: fractured alliances, damaged supply chains, and fragile diplomacy.[13:42] Lisa: “When you're presented with a dog's breakfast of tons of different policies, some of them are going to be good. The question, though, is whether or not the overall policy direction is such that it kind of takes away all the wins because the losses are so massive.”Canada’s response needs to be realistic, grounded in its own capabilities and long-term values rather than reactive politics. [14:05] Canada: Not the 51st US StateLisa strongly believes in Canadian sovereignty, rejecting the suggestion that Canada could—or should—become the 51st US state.She suggests that the idea may stem from a desire for closer cooperation, but realizing that idea must not come at the cost of Canada’s national identity or self-determination.However, it may be beneficial to push for stronger strategic collaboration in areas like North American defence, transportation infrastructure, and trade logistics.According to Lisa, Canada and many other NATO states have neglected their roles in national defence, often relying on U.S. military spending. [18:50] Market trends to watch amidst shifting U.S.-Canada relationsLisa identifies power generation as the backbone of future economic infrastructure—no longer just a policy option but a necessity.Energy constraints are already impacting provincial decisions, signalling long-term opportunities for investors.Lisa urges Canadian investors to continue trusting expert advisors—and to anchor their portfolios to well-researched macro insights.Branching into sectors like energy, resource extraction, and clean technology offers more stability in an uncertain political environment.Watching how the Carney government navigates energy pipeline development will be crucial; investors should blend pragmatic strategy with public policy foresight. [25:04] Charting a path forward for CanadaLisa remains hopeful yet cautious about the government’s ability to deliver meaningful results in the next four years.The speech from the throne will be telling as to whether there’s a break from past policy gridlocks toward more resilient, future-focused legislation.Maintaining stable US-Canada relations involves more than policy; we have to remember to distinguish between governments and people.The thickening of the U.S.-Canada border is another sad consequence of political tension, and efforts must be made to restore trust and open channels.About Lisa Lisa Raitt is the Vice Chair at CIBC Capital Markets, bringing decades of experience in navigating economic and political landscapes. A former Canadian federal cabinet minister, she held key portfolios including Natural Resources, Labour, and Transport, steering policy through complex economic shifts. Known for her pragmatic approach, Lisa now applies her expertise to the financial sector, offering strategic insights on global trade, economic resilience, and market trends.As host of The Raitt Stuff podcast, she delivers candid, impactful discussions on economic issues affecting Canadians and global markets. A trusted voice in policy and finance, Lisa combines political acumen with economic foresight, empowering individuals and businesses to thrive in an evolving world.Connect with Lisa Raitt on LinkedIn.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family. Step out of the chaos of modern life and into clarity. Learn how to take informed steps forward, understand the impact of shifting policies, and secure a financially sound future amidst shifting U.S.-Canada relations.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, Twitter, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

Women’s financial journeys are shaped by unique milestones and challenges ranging from navigating career transitions to planning for retirement. In this special edition of Smart Advice, we break down the results of a groundbreaking Women of Influence+ survey conducted in collaboration with CIBC, on Women, Money, and WealthThis episode offers expert guidance and practical tools to help you navigate your financial journey. You won’t want to miss this roundtable discussion featuring CIBC financial advice expert Carissa Lucreziano, Dr. Rumeet Billan, CEO of Women of Influence+ and Margaret Adaniel, Vice President of Wealth Digital, Marketing and Communications at CIBC. Here are three reasons why you should listen to this episode:Understand the benefits of working with an advisor to help you manage finances during major life transitions.Discover strategies to build financial wealth with budgeting, goal setting and regular investing.Learn how to protect yourself and your loved ones with an estate plan.ResourcesCanadian Perspectives: Women, Money and Wealth SurveyWilling Wisdom by Thomas William Deans Wealth planning for women: Why do I need a prenup?CIBC's "Smart Advice" Podcast and Website - Website | Apple PodcastEpisode Highlights[00:29] Milestones and Challenges on the Financial Journey of WomenOver the years, women have increasingly grown their influence in Canada's economy.Carissa highlights a study by Women of Influence+ and CIBCIt revealed that 68% of women feel in control of their finances while 42% are concerned about long-term security.The study shows that major life events, such as retirement and marriage, often prompt women to seek financial advice.[02:48] Why Financial Well-Being and Transitions Are ImportantRetirement and other life transitions play a huge role in women’s finances. It’s also important to see retirement as a journey, not a destination.[3:33] Margaret: “Retirement is not a point of arrival… It's actually a journey within itself”Women face increased financial responsibility. In particular, this involves balancing work and family, leading to evolving financial needs.Understanding your current financial situation, budgeting, and setting future goals are foundational steps for building financial resilience.Building an emergency fund and investing in long-term wealth, despite market complexities, is crucial in the modern era.[10:56] Starting a Business and Financial ConsiderationsAll business plans include market research, business model, marketing strategy, and cost analysis.It’s vital to keep personal and business accounts separate to simplify balancing your finances.It helps to automate bill payments, as missing a payment can harm your credit score and make financing your business more difficult.Digital resources like BDC and Zen Business can make it much easier to start a business, even if you are early in your financial journey.Carissa emphasizes the value of working with a trusted business advisor to navigate the early stages of entrepreneurship.[18:35] Build Strong Partnerships On Your Financial JourneyCommunication is key in both new and second marriages, starting with full disclosure of financial obligations and establishing clear money management practices. [19:42] Carissa: “In any relationship, first marriage or partnership or second communication is key. That is the foundation.”Carissa recommends cohabitation agreements or prenups to outline financial responsibilities and protect individual interests.Define what is "yours, mine, and ours" clearly in financial arrangements, particularly in second marriages. Doing so prevents misunderstandings and fosters transparency.Financial disagreements are a common source of conflict in relationships and highlight the value of open communication to build a strong financial foundation.[23:21] Estate Planning Beyond Legal DocumentsEstate planning is more than just legal documents. Women need to organize details like family contacts and personal wishes.[25:18] Margaret: “We think about it [estate planning] in the legal document terms, not the emotional side of the conversation. It's both. It really is both of those and we have to balance them out.Families are encouraged to discuss emotional aspects of estate planning, such as deciding who will care for pets or how assets will be distributed.The book Willing Wisdom is recommended for reframing your financial journey with thoughtful questions about values and personal priorities.Digital platforms like Willful are suggested as affordable and accessible tools to start or update wills and legal documents, making the process easier to navigate.[26:59] Estate Planning and Investments50% of Canadians lack a will. Starting this process is crucial for protecting assets and ensuring they are passed down as intended[27:55] Carissa: “You've worked a good portion of your life, working so hard to accumulate these assets… You want to be able to protect that, and you want to be able to preserve as much as possible to go to the next generation ”Begin open, age-appropriate discussions about estate planning, focusing on values, beliefs, and priorities rather than just financial details.Use investments strategically to equalize estates when multiple assets are involved, such as a family cottage and investment accounts.For example, compensate one child who inherits a family cottage with an investment account to ensure fairness and reduce disputes.Estate planning that incorporates investments can reduce stress, and preserve family harmony.[30:46] Audience Questions and Final AdviceCarissa recommends consulting a financial advisor about your available options for managing your 401(k) accounts during layoffs.Margaret and Carissa discuss the benefits of life insurance in estate planning, highlighting its flexibility in offsetting estate imbalances and covering debts.Young women should start their financial journey early. It’s more important than anything else to just start budgeting and investing.[37:59] Key Advice For Navigating Your Financial JourneyCarissa emphasizes the importance of understanding your financial situation while also developing a plan that gets you to your financial goals.Don’t be too hard on yourself, and celebrate financial achievements. Paying a student loan, saving a down payment, and building your savings are significant milestones.Stick to your financial plan and stay invested in your future.Margaret highlights the value of starting with small, regular investments. Having more time in the market is more important than trying to time the market.She encourages women to give themselves permission to seek a financial advisor. Trusted and professional support is invaluable on your financial journey.About Carissa Carissa Lucreziano has over two decades of experience as a Certified Financial Planner. She is the Vice President of Financial and Investment Advice at CIBC, where she aims to simplify complex financial concepts to give people the ability to make informed decisions about their money.As CIBC’s financial advice expert, Carissa leads a team dedicated to empowering Canadians through accessible financial education and smart advice.Connect with Carissa Lucreziano on LinkedIn.About Margaret Margaret Adaniel is the Vice President of Wealth Digital, Marketing, and Communications at CIBC, where she leads strategic initiatives to enhance client engagement and financial education.Margaret is committed to fostering financial confidence by creating tailored solutions that address evolving client needs, leveraging her expertise in wealth management, financial literacy, and strategic communication.Connect with Margaret Adaniel on LinkedIn.About Dr. Rumeet Dr. Rumeet Billan is the founder and CEO of Viewpoint Leadership and former CEO of Women of Influence+. Her approach to entrepreneurship, business development, and leadership training prioritizes trust, belonging, and resilience to elevate the quality of her work.Dr. Rumeet has been recognized as one of Canada’s Top 10 Power Women. She showcases a commitment to giving back to communities by helping improve access to education through schools and libraries and funding scholarships.Connect with Dr. Rumeet on LinkedIn or her website.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this to your friends and family — especially the young women in your life! The sooner you start your financial journey and address key transitions like retirement, entrepreneurship, and estate planning, the better equipped you’ll be to protect your wealth and secure your family’s financial future.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, Twitter, or Instagram.Thanks for tuning in! For more amazing episodes, tune in on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

Are you ready to elevate your career? The job market is evolving faster than ever, and adapting to these changes has become critical.In this episode of Smart Advice we dive into a conversation with Kelley Keehn, author, entrepreneur and financial educator, on how to manage your career as a business.Whether you're a seasoned professional or just starting your journey, learning how to align your career with your financial goals can make all the difference in building a more secure and successful future. Here are three reasons why you should listen to this episode:Learn how to set personal standards that guide your professional and financial decisions.Discover how to align your career with your financial goalsGet strategies to adapt to an ever-changing job market.ResourcesKelley Keehn - Website | LinkedInKelley Keehn’s Book She Inc.Money Wise Workplaces by Kelley KeehnRead the CIBC article “Helping Canadians Think Differently About Their Finances”, featuring Kelley Keehn.Visit CIBC for more smart adviceEpisode Highlights[00:21] Career Motivations and Job Market DynamicsHalf of Canadian professionals plan to seek new jobs in 2024, driven by increased income potential.The pandemic has shifted job market dynamics, leading to new career plans and a focus on flexibility and retraining.The world is rapidly changing, encouraging people globally to reinvent themselves to match the current job market or skill gaps.[02:53] The Concept of Treating Yourself as a CorporationShe Inc. is one of the books published by Kelley that advocates for treating oneself like a corporation to achieve career and financial goals.It's vital to draft your personal standards, habits, and values as a blueprint for life and career.Adopting this mindset had a significant benefit to Kelley's financial and career opportunities.Treating yourself as a corporation reduces decision fatigue and frees up mental space for creativity.[05:29] Practical Steps to Adopt the Corporate MindsetRegardless of your career stage, it's a good idea to start thinking about your brand.It is important to set realistic goals and remove noise to focus on what matters.Using a calendar can help you hold yourself accountable for important activities, such as self-care and work.[07:29] Kelley: “Whatever it is, you use your calendar to hold you accountable.”Burnout is a huge problem in modern society, so it's invaluable to balance the rigidity of your calendar with flexibility.[08:36] Staying Relevant in the Job MarketThe job market is constantly evolving; it's therefore critical to be adaptable so that you can find new career opportunities.Advisors and coaches can provide a sounding board and help you identify new career possibilities.Consider the athlete: no athlete succeeds in competition without coaches and mentors.Investing in education and delegating tasks unrelated to your career (or other things important to you) helps free up time for personal and career development.In Kelley's case, she hired out a lot of chores and household tasks to spend quality time with her aging mother.[13:25] Career as an Asset Class in Financial PlanningYour career choice will affect your investment strategies. Different career paths require different investment approaches.Kelley introduces the concept of the "fourth asset class" - your career - and its influence on risk tolerance and investment strategies.It's critical to discuss any asset changes with financial advisors to adjust you investment portfolios accordingly.[16:52] Kelley: “Now, maybe you're buying rental properties, and you don't tell your advisor that. That's kind of a side hustle would definitely affect your portfolio.”[17:47] Navigating Entrepreneurial SuccessKelley's opinion on finding financial success despite changing trends in the market is that it's important to be nimble and adaptable.[18:56] Kelley: “One thing I can definitely say is, don't wait, I've written 11 books because I don't wait. If I have something that's popped into my head, I act on it as quickly as humanly possible.”It's best to act quickly. The moment you have a new idea, act on it. Always be in motion; keep upgrading your skills or your network.Success isn't guaranteed, but resilience and tenacity go a long way toward overcoming failures and achieving success.[21:449] Future Projects and Financial WellnessKelley shares her ongoing projects, including Money Wise Workplaces, an online financial literacy program for employers.Moving forward, Kelley plans to collaborate with the financial industry to equip advisors with better communication skills.Trusted financial professionals and advisers play a huge role in people's financial wellness; they're an invaluable resource that more people should utilize.About KelleyKelley Keehn is an accomplished financial educator, entrepreneur, and passionate consumer advocate. She is dedicated to making financial literacy accessible and empowering individuals to take control of their financial futures. Kelley has authored 11 books on personal finance, including Talk Money to Me, and has become a trusted voice in helping Canadians transform their relationship with money.Kelley’s work emphasizes the importance of treating your career as a valuable asset and aligning financial goals with professional growth, making her a leading expert in personal finance and career strategy. One of her most effective mantras that helped shape her financial success was treating her career as an asset.Connect with Kelley Keehn on LinkedIn, Facebook, Instagram, or X . Visit her website for more resources.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family — especially the parents! The sooner you start treating your career as an asset, the better your chances of achieving long-term financial success and professional growth.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, Twitter, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

Do you remember when and how you learned about money? From budgeting and saving to applying for credit cards or taking out a loan, building an early foundation of financial literacy is a key strategy to ensuring long-term financial success. That makes it all the more important for parents to grant their children a measure of money-savviness and financial know-how as soon as they can.In a world where financial literacy is more vital than ever before, this episode of Smart Advice goes deep into teaching kids about money at any age and stage with the help of Robin Taub, author of The Wisest Investment: Teaching Your Kids to be Responsible, Independent and Money-Smart for Life. Whether you’re a parent eager to guide your children toward financial independence or an educator looking for insights on financial literacy, this discussion offers invaluable strategies to help shape financially responsible and confident young adults.Here are three reasons you should listen to this episode:Discover practical tips for teaching financial literacy to children at any age.Learn about Robin Taub’s five pillars of money managementGain insights on how to be a financial role model for the next generation.ResourcesTeach your kids about money using articles and resources from CIBC’s Ambitions ToolkitPick up a copy of The Wisest Investment!Episode Highlights[01:49] Robin Taub's Background and MotivationRobin Taub, a CPA and mom, shares her journey from number-cruncher to financial educator.Her book was born out of a passion for helping parents feel confident in teaching their kids about money.Robin noticed that many parents feel out of their depth when it comes to money talks with their kids.She crafted the book as a go-to guide for raising financially savvy and responsible kids.[03:29] When and How to Start Teaching Kids About MoneyRobin suggests kicking off money lessons as early as five, turning everyday errands into learning adventures.Simple activities like grocery shopping can become fun ways to introduce basic money concepts.Starting early gives kids a head start on building smart money habits that will last a lifetime.[06:38] The Five Pillars of Money Management and Parents as Role ModelsRobin breaks down money management into five key pillars.[06:53] Robin: “So depending on the age that your child is, you're going to find these different types of teachable moments, but they are all going to come under what I call the five pillars of money, and those are earn, save, spend, share and invest.”These pillars grow with your child, adapting as they move from piggy banks to real-world finances.Parents are encouraged to level up their own financial knowledge to lead by example and teach with confidence.[08:48] Robin: “It’s hard if you don't feel like you're particularly good with money yourself to feel like you can teach your children, but I try to encourage parents to learn along with their kids.”Being a role model isn’t just important—it’s the secret sauce to raising money-smart kids.[11:58] Financial Literacy in Schools and Guidance for Young AdultsOntario high schools are stepping up with a new financial literacy test, and Robin is all for it.[12:51] Robin: “Kids need to learn this stuff wherever they can. I mean, who you know? Going back to the original — if you're not teaching your kids about money, who is?”While schools are laying the groundwork, parents play a crucial role in reinforcing these lessons at home.As kids grow into young adults, they’ll need guidance on navigating credit, saving for college, and dipping their toes into investing.[18:22] Financial Literacy: A Two-Way StreetWe have to remember too that children don’t have our level of financial education.[19:12] Robin: “Sometimes the things that we take for granted that we know at this point, kids don't know.”However, financial education isn’t just top-down; parents can pick up new tricks from their tech-savvy kids.Some kids today are clued into the latest financial tools and trends, and parents can learn a thing or two from them.Making financial mistakes isn’t the end of the world—it’s a priceless learning opportunity, especially with parental support.Guiding your kids through financial missteps helps them bounce back stronger and smarter.[21:14] Robin: “You need to let your kids — you want to teach them, but you also need to let them make mistakes and learn from them.”[24:26] Robin’s Top Three Strategies for Teaching Financial LiteracyLead by example. Your children will see you as a role model when it comes to money. This includes where you excel and where you make mistakes.Be on the lookout for teachable moments in day-to-day life. There will be something appropriate for a child of almost any age — even as young as five!Impart and build values when you give your child a financial education. Discovering what’s important to you and them can help shape their future decisions.About RobinRobin Taub is a Chartered Professional Accountant (CPA) and a passionate advocate for financial literacy. With a background in finance and a deep understanding of the challenges parents face in teaching their children about money, she has dedicated her career to making financial education accessible and engaging for families.Robin is the author of The Wisest Investment: Teaching Your Kids to be Responsible, Independent and Money-Smart for Life, a highly regarded guide that empowers parents to raise financially savvy children. Drawing from her experiences as both a financial professional and a mother, Robin’s work emphasizes the importance of starting financial education early and the role of parents as financial role models, making her a leading voice in the field of family financial education.Connect with Robin Taub on LinkedIn, or visit her website.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family — especially the parents! The earlier a child learns financial literacy, the better their chances of becoming money-savvy and successful as adults.Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, Twitter, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

Whether you're looking for a new mortgage, contemplating your investment strategy, or simply trying to make sense of the economy, join us for a conversation with Avery Shenfeld, Managing Director and Chief Economist at CIBC Capital Markets, to shed light on the recent interest rate cut, its expected impact on the Canadian economy, and what this means for consumers.Here are three reasons why you should listen to this episode:Find out what the recent interest rate cuts may mean for inflation and the Canadian economy.Learn how inflation and interest rates may impact Canadian consumers.Gain valuable insight into what economic changes Canadians can expect for the year ahead and into 2025.ResourcesVisit CIBC for more smart adviceVisit CIBC Capital Markets Insights Hub to access timely economic insights Episode Highlights[02:50] Tackling Changing Interest Rates After continuous interest rate hikes, interest rates were reduced from 5% to 4.75%. However, this rate cut won’t have any significant impact on the economy immediately.The future decisions of the Bank of Canada will be key in achieving economic relief. Further rate cuts are necessary to reach an interest rate of around 3%.[03:24] Avery: "It's not the first move that will matter, but it's really the follow-up from the Bank of Canada. We've got to get that short-term interest rate down to something like three percent or two and three-quarters."Historically, Canada and the US differ in economic performance and interest rates. These reflect the differing needs of the two economies and the varying interest rates.While Canada’s initial rate cuts may weaken the Canadian dollar, there is no significant impact on the trade and consumer price index. [06:30] The Current Consumer Price Index and Impact of InflationThe majority of inflation from the past year was a result of global production issues from the COVID-19 pandemic. As goods became more available, prices started to increase.Shelter is the critical component of the Consumer Price Index (CPI). Rent inflation which has greatly increased may ease by 2025 due to revisions in government policies.Another aspect of the shelter component is mortgage interest costs. Cutting interest rates can lead to the reduction of the inflation of mortgage interest costs. By the end of 2025, Avery shares that “variable or short term mortgages will see substantial savings that will show up in that part of the inflation basket.”[09:47] The Future of the Canadian and Global Economy Avery states that the growth of the Canadian economy and the overall global economy is still sluggish.[10:34] Avery: "The overall temperature of the global economy is not likely to be that vigorous in the balance of this year, where our hopes lie is really for 2025, after a sequence of interest rate cuts, not just in Canada, but in Europe, and eventually in the US as well."Global growth and domestic demand improvement due to interest rate cuts can lead to a better year for the Canadian economy by 2025.In response to the higher interest rates, Canadians focus on saving an increasing position of their after-tax income and being more cautious about saving.The Bank of Canada’s goal was to encourage saving to slow consumer spending growth. This will contribute to the hopeful growth of the economy in 2025.With lower interest rates, people have more to spend. The biggest economic changes will impact the real estate market with increasing housing turnover and more spending.[15:00] Investment Outlook for the Second Half of 2024The equity market has been doing well in the past years. However, equities are fully valued for the coming interest rate cuts and Avery advises caution for these assets.On the other hand, there is room for bond yields to decrease and result in better returns on fixed-income investments.Avery states that we’re now in a period of the usual backstop. The bond market can provide a good return and shelter for the slowing of the equity market.A traditional balanced portfolio offers shelter from the volatile market as interest rate cuts continue. The expected economic recovery in 2025 should mean well for the stock market.[17:16] What Canadians Need to Know About the EconomyLooking at the big picture, the overnight interest rate is expected to go down to around 3%. Avery predicts that it will go lower than it is today, especially by the end of 2025.Inflation is a big concern for Canadians. However, wage increases are also increasing. The purchasing power of the average wage has been recovering despite inflation.On the other hand, Canada’s economic performance needs further improvement. Productivity has been lacking in the past years and it’s important to encourage businesses to invest and expand in Canada. [19:31] Avery: "Canada's economic performance, it really hasn't been great, particularly on a per capita basis. And I think we need to see an improvement in output per hour or productivity that we have been seriously lacking over the last year or two." About AveryAvery Shenfeld is the Managing Director and Chief Economist at CIBC Capital Markets. With a distinguished career spanning over two decades, Avery is a highly respected figure in the field of economics. He regularly provides expert analysis on economic changes, trends, and policies, offering valuable insights to both the media and CIBC clients. Avery's expertise covers a wide range of economic issues, including monetary policy, inflation, and market dynamics. He is a trusted voice in understanding and navigating the complexities of the Canadian economy.Learn more about Avery and his work on the CIBC website.Enjoyed this Episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family and share valuable insights into future economic trends in the Canadian economy. Get a future look into economic changes in both Canada and the world for 2024 and beyondHave any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, Twitter, or Instagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.

Get ready for an in-depth conversation with savvy real estate investor Scott McGillivray, as he shares the ins and outs of his journey from a university student facing housing challenges to a real estate investment guru. Discover Scott's strategic approaches to investment, key financial insights, and personal anecdotes that highlight the resilience required to thrive in the competitive world of real estate.Whether you’re an aspiring entrepreneur or a Canadian looking to dip your toes into real estate investing in Canada, this episode is for you!Here are three reasons why you should listen to this episode:Learn the value of leverage when it comes to your capital — whether that’s actual cash or equity.Find out why it’s critical to tap into expertise, building a team of professionals to support you along your homeownership journey.Discover the reality of real estate investing in Canada — and why you should start right now.ResourcesVisit CIBC for more smart adviceWatch episodes of Income Propertyfor lessons on how to leverage your home as a real estate investment.Watch episodes of Buying In for more real estate advice.Episode Highlights[01:23] Scott’s origin story and first real estate investment:Scott started his real estate journey while in university after facing the challenge of finding affordable housing.It wasn’t necessarily about wealth at the time — back then, it was just about finding a reliable place to live.His first shot at real estate investing in Canada was prompted by a suggestion from a realtor to buy instead of rent.Although his family and friends cautioned him against buying real estate, he elected to listen to his real estate agent, financial advisor, and mortgage advisor instead.“Why take financial advice from broke people when I have — I hate to say it — I have these people who have a track record of success with money, giving me different advice?”[09:23] Strategies for building a real estate portfolioScott explains his aggressive strategy of using equity from one property to buy more, scaling up rapidly.He discusses transitioning from basic cash flow focus to long-term equity building and strategic financial planning.[09:24] “You have to be ruthless about achieving your goals. And you have to make smart goals. So set up your goals to make sure that they're realistic, they're time bound, that there's a certain metric attached to them.”The evolution of his business model included learning to manage and leverage financial tools and market changes effectively.[19:15] Advice for new investorsScott advises new investors to make decisions based on logic and calculations rather than emotions.Another critical piece of advice to new investors is to dislike failure, rather than fear it.[20:36] “You can hate losing, that's great, but you can't be afraid of it. You just have to learn how to understand this part of the process. It's worth losing ten times, it's all worth it when you win that one time. But if you're afraid, you never get the win.”He stresses the importance of being proactive in creating positive cash-flowing properties as they rarely come ready-made.Scott encourages new investors to educate themselves and use professional advice to navigate the real estate market.[22:55] “When the work needs to be done, the best thing you can do is lead by example.”[29:33] Scott’s reflections on his personal experiencesScott reflects on the importance of persistence and adapting to market conditions throughout his career.He shares personal anecdotes of overcoming challenges and leveraging opportunities that seemed daunting at first.Scott discusses the value of learning from both successes and failures, emphasising continuous improvement.[35:39] The future outlook on real estate investing in CanadaScott talks about adapting strategies to cope with economic changes, such as interest rate fluctuations and market dynamics.He expresses optimism about the future of real estate and the potential for continued growth and adaptation.Scott emphasises the importance of long-term planning and strategic investment to navigate through varying economic climates.[43:55] “One of the biggest secrets to succeeding as an entrepreneur, I believe, is making sure that other people get to their goals.”He concludes by sharing his commitment to both personal growth and helping others achieve their real estate goals.About Scott McGillivrayScott McGillivray is a prominent Canadian real estate expert, entrepreneur, and television host, renowned for his expertise in real estate investments and home renovation. With his extensive knowledge and charismatic presence, McGillivray is a powerful force in the real estate world, dedicated to educating people about investment strategies and the potential for real estate to generate wealth. Scott McGillivray's journey from a college student to a real estate magnate is not just inspiring but also a testament to the power of knowledge, strategy, and persistence in achieving financial independence.Connect with Scott on his website, or follow him on Facebook, Instagram, and X. You can also subscribe to his YouTube channel for a wealth of real estate investment advice.Enjoyed this episode?If you did, be sure to subscribe and share it with your friends!Post a review and share it! If you enjoyed tuning in, leave us a review. You can also share this with your friends and family — especially if you know anyone looking to begin their journey into real estate investments.Have any questions? You can connect with me on LinkedIn or through CIBC’sFacebook,Twitter, orInstagram.Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts. Hosted on Acast. See acast.com/privacy for more information.