WealthBeing

In most marriages, finances are often completely intertwined. Going from “ours” to “yours or mine” as part of a separation or divorce can be a thorny process. 38% of Canadians end their marriage every year, and this week, Travis and Derrick – along with our guest, Island Savings Senior Wealth Advisor, Chris Gerow –are going to simplify what you need to know about managing finances and assets while going through a separation or divorce. 

2:30–Money Problem:When Travis’ client was ending her marriage, she was facing some complex financial decisions. She never needed to worry about the finances during her marriage – and now, she was solely responsible for her financial future. 

4:30– Expert Examination:Travis, Derrick and Chris help you understand what you need to do, when to be cautious, and how to protect your pocketbook when splitting up your shared finances:  

• How to identify which assets are worth fighting for. 
• Avoiding emotional decision-making. 
• Un-linking your accounts and investment assets at the right time. 
• Creating your own credit. 
• Safeguarding your income. 
• Avoiding tax troubles. 
• Special considerations for “grey” divorcees. 
• Common financial disputes. 
• Being a financially-savvy single. 

23:00–Weekly Financial Fix:The first, critical step to simplify the process of your separation or divorce. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode. 

In most marriages, finances are often completely intertwined. Going from “ours” to “yours or mine” as part of a separation or divorce can be a thorny process. 38% of Canadians end their marriage every year, and this week, Travis and Derrick – along with our guest, Island Savings Senior Wealth Advisor, Chris Gerow –are going to simplify what you need to know about managing finances and assets while going through a separation or divorce. 

2:30–Money Problem:When Travis’ client was ending her marriage, she was facing some complex financial decisions. She never needed to worry about the finances during her marriage – and now, she was solely responsible for her financial future. 

4:30– Expert Examination:Travis, Derrick and Chris help you understand what you need to do, when to be cautious, and how to protect your pocketbook when splitting up your shared finances:  

• How to identify which assets are worth fighting for. 
• Avoiding emotional decision-making. 
• Un-linking your accounts and investment assets at the right time. 
• Creating your own credit. 
• Safeguarding your income. 
• Avoiding tax troubles. 
• Special considerations for “grey” divorcees. 
• Common financial disputes. 
• Being a financially-savvy single. 

23:00–Weekly Financial Fix:The first, critical step to simplify the process of your separation or divorce. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode. 

Like any relationship, you want to choose your financial advisor carefully. Trust is important – you’re going to be sharing a lot of personal information with your advisor. And you should know they have your back when it comes to making the best financial decisions.We’re extra excited this week to welcome two experts of a different kind to the show. Travis and Derrick talk with Bill and Joanne Moffatt, clients of Travis’, about how to find and foster an excellent advisor-client relationship. 

1:45–Money Problem:Travis, new arrived to Vancouver Island, inherited a client who was deeply unsatisfied with his advisory experience. Travis only had one chance to try and make things right. 

4:00– Expert Examination:Travis, Derrick, Bill and Joanne discuss the most important aspects of creating the best advisor-client relationship:  

• What to expect a financial advisor to do for you. 
• What your financial advisor expects (and needs) from you as a client. 
• Achieving synergy in the advisor-client relationship. 
• How to know if a financial advisory is trustworthy. 
• The best qualities too look for in a financial advisor – and red flags to avoid. 
• What to do if you and your advisor have a difference opinion. 
• Can your friends be your financial expert? 
• Identifying an advisor-client relationship that’s not serving your needs. 
•  

23:00–Weekly Financial Fix: Travis has a simple way for you to evaluatethe success of your relationship with your financial advisor. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode. 

Like any relationship, you want to choose your financial advisor carefully. Trust is important – you’re going to be sharing a lot of personal information with your advisor. And you should know they have your back when it comes to making the best financial decisions.We’re extra excited this week to welcome two experts of a different kind to the show. Travis and Derrick talk with Bill and Joanne Moffatt, clients of Travis’, about how to find and foster an excellent advisor-client relationship. 

1:45–Money Problem:Travis, new arrived to Vancouver Island, inherited a client who was deeply unsatisfied with his advisory experience. Travis only had one chance to try and make things right. 

4:00– Expert Examination:Travis, Derrick, Bill and Joanne discuss the most important aspects of creating the best advisor-client relationship:  

• What to expect a financial advisor to do for you. 
• What your financial advisor expects (and needs) from you as a client. 
• Achieving synergy in the advisor-client relationship. 
• How to know if a financial advisory is trustworthy. 
• The best qualities too look for in a financial advisor – and red flags to avoid. 
• What to do if you and your advisor have a difference opinion. 
• Can your friends be your financial expert? 
• Identifying an advisor-client relationship that’s not serving your needs. 
•  

23:00–Weekly Financial Fix: Travis has a simple way for you to evaluatethe success of your relationship with your financial advisor. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode. 

If life changed tomorrow, would your financial future be taken care of?May is Leave a Legacy month, which has Travis and Derrick thinking about how to ensure a secure financial future. This week, we are joined my Nima Rohani,Partner at McConnan Bion O'Connor & Peterson Law Corporation,to discuss the key questions and choices we all need to consider when planning for our legacy. 

2:00–Money Problem:Travis’ client was struck by a medical emergency and there was no one assigned to take of his needs. Everything would go to the government to manage – unless they could find a solution. 

3:10– Expert Examination:Travis, Derrickand Nima Rohanisimplify how to create a will and Power of Attorney:  

• How a will and Power of Attorney (POA) affect your financial health; 
• Which do you need: a living will, last will or Power of Attorney? 
• What happens to your finances if you are incapacitated; 
• Is your last will really the final say? 
• When to include – or not to include – your family in the process; 
• How to choose an executor, Power of Attorney, and witness for your estateplans; 
• Creating air-tight plans for your legacy. 

22:20–Weekly Financial Fix:This week, Travis has a tip to make sure the legacy plan you have today is what you want – and what works – for tomorrow. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode. 

If life changed tomorrow, would your financial future be taken care of?May is Leave a Legacy month, which has Travis and Derrick thinking about how to ensure a secure financial future. This week, we are joined my Nima Rohani,Partner at McConnan Bion O'Connor & Peterson Law Corporation,to discuss the key questions and choices we all need to consider when planning for our legacy. 

2:00–Money Problem:Travis’ client was struck by a medical emergency and there was no one assigned to take of his needs. Everything would go to the government to manage – unless they could find a solution. 

3:10– Expert Examination:Travis, Derrickand Nima Rohanisimplify how to create a will and Power of Attorney:  

• How a will and Power of Attorney (POA) affect your financial health; 
• Which do you need: a living will, last will or Power of Attorney? 
• What happens to your finances if you are incapacitated; 
• Is your last will really the final say? 
• When to include – or not to include – your family in the process; 
• How to choose an executor, Power of Attorney, and witness for your estateplans; 
• Creating air-tight plans for your legacy. 

22:20–Weekly Financial Fix:This week, Travis has a tip to make sure the legacy plan you have today is what you want – and what works – for tomorrow. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode. 

Summer is one of the most expensive times of year. Most Canadians plan to spend over $3000 on vacation alone. Include higher prices on fuel and food, and it’s easy to come out of the season with debt. This year, we want to take a more thoughtful approach to summer spending, and that’s why Travis and Derrick have asked Dan Adair to return to WealthBeing for a conversation about having a fun – yet frugal – few months. 

1:45–Money Problem:Derrick’s client had big dreams – but a small budget - for his summer recreation project. Was it worth some debt or was there a better solution? 

3:00– Expert Examination:Travis, Derrickand Dan discuss the spending traps to be aware of during the summer and the best strategies to play now without paying later:  

• Why “summer spending” deserves special consideration in your budget. 
• How your spending is influenced by the weather and work patterns. 
• Avoiding end-of-season debt. 
• Purchases that add up in the summer. 
• Ways to have it all – a fun and memory-making summer without digging into savings or credit. 
• Not travelling this year?Options to use those savings instead. 

23:00–Weekly Financial Fix:Travis challenges you to save your money for fun by getting your hands dirty. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode. 

Summer is one of the most expensive times of year. Most Canadians plan to spend over $3000 on vacation alone. Include higher prices on fuel and food, and it’s easy to come out of the season with debt. This year, we want to take a more thoughtful approach to summer spending, and that’s why Travis and Derrick have asked Dan Adair to return to WealthBeing for a conversation about having a fun – yet frugal – few months. 

1:45–Money Problem:Derrick’s client had big dreams – but a small budget - for his summer recreation project. Was it worth some debt or was there a better solution? 

3:00– Expert Examination:Travis, Derrickand Dan discuss the spending traps to be aware of during the summer and the best strategies to play now without paying later:  

• Why “summer spending” deserves special consideration in your budget. 
• How your spending is influenced by the weather and work patterns. 
• Avoiding end-of-season debt. 
• Purchases that add up in the summer. 
• Ways to have it all – a fun and memory-making summer without digging into savings or credit. 
• Not travelling this year?Options to use those savings instead. 

23:00–Weekly Financial Fix:Travis challenges you to save your money for fun by getting your hands dirty. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode. 

They promise fast money, easy money, the final solution for your financial woes – but are the strategies you’re using to save or make money a good idea? Maybe. Travis and Derrick have a list of the most common financial schemes to dissect – and hacks they recommend –to achieve your goals. 

1:20–Money Problem:Derrick’s client had to decide the best investment for his inheritance – a trendy opportunity or the typical option. 

2:30– Expert Examination:Travis and Derrickreveal the good, bad and grey areas when it comes to these common financial fads:  

• “Couch-potato”money-making 
• “Envelope”expense-management 
• Trendy FOMO investments 
• The Endorsing “Expert” 
• The “Rule of 72” 
• Robo-advising 
• A note so “gold”-eninvestment rule 
• Day-trading 
• Flipping the coin on Real Estate investing 
• Is home-equity the ultimate account? 
• ETFs (Exchange-traded funds) 
• Financial hacks: credit card points programs; $2/wear foryour wares; rounding-up to save “Big Change” 

23:00–Weekly Financial Fix:Travishas a simple challenge that could save you from falling prey to a financial fad. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode. 

They promise fast money, easy money, the final solution for your financial woes – but are the strategies you’re using to save or make money a good idea? Maybe. Travis and Derrick have a list of the most common financial schemes to dissect – and hacks they recommend –to achieve your goals. 

1:20–Money Problem:Derrick’s client had to decide the best investment for his inheritance – a trendy opportunity or the typical option. 

2:30– Expert Examination:Travis and Derrickreveal the good, bad and grey areas when it comes to these common financial fads:  

• “Couch-potato”money-making 
• “Envelope”expense-management 
• Trendy FOMO investments 
• The Endorsing “Expert” 
• The “Rule of 72” 
• Robo-advising 
• A note so “gold”-eninvestment rule 
• Day-trading 
• Flipping the coin on Real Estate investing 
• Is home-equity the ultimate account? 
• ETFs (Exchange-traded funds) 
• Financial hacks: credit card points programs; $2/wear foryour wares; rounding-up to save “Big Change” 

23:00–Weekly Financial Fix:Travishas a simple challenge that could save you from falling prey to a financial fad. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode.