Tim Borody and Brad Smith are back in the studio for another episode of Your Life and Money to kickstart the new year with the energy and insight you need to make 2026 your best year yet. As they settle back in after a "chill" holiday season focused on family and recharging, they dive into why financial planning is never just about the numbers—it’s about aligning your money with your deepest values and priorities because, at Advice First, we know that life is not a rehearsal.

Kicking Off 2026 with Tim and Brad

• Market Resilience and the Value of Diversification: Tim and Brad reflect on the surprising strength of the 2025 markets and discuss why diversifying portfolios outside of the US into regions like Canada, Europe, and Asia may be the strategic move for 2026.
• Investing in Team Continuity and Succession: Brad shares the philosophy behind adding a new team member this year, emphasizing a long-term, 5-to-7-year mentorship process to ensure client families receive stable, high-quality advice for generations to come.
• A New Mission for Financial Literacy: Tim reveals his 2026 goal to release accessible social media videos and podcast segments that break down financial fundamentals, helping Canadians move past the fear of asking "simple" questions to make more confident decisions.

As we step into this new year, join Tim and Brad to discover how these new initiatives and strategic shifts can help you gain total clarity on your journey and answer the most important question: "How much is enough for the life you want to lead?"

Welcome back to Your Life and Money, the podcast where financial planning goes beyond the spreadsheets to focus on what truly matters: your life. Hosts Tim Borody and Brad Smith continue their Q&A series, tackling complex questions about budgeting, debt, saving for a first home, and optimizing government pension benefits.

Beyond the Budget: Saving, Buying a Home, and Maximizing Your Pension

• Cash Flow Clarity: Uncover the five essential categories you need to track to gain control of your cash flow and how simplifying your budget helps you redirect funds toward key goals like eliminating debt or building an emergency fund.
• The Homeownership Playbook: Learn how to strategically use specialized savings plans like the First Home Savings Account (FHSA) and the RRSP Home Buyers’ Plan (HBP) to accumulate a down payment, including the little-known details on how non-first-time buyers can reuse the HBP.
• The CPP/OAS Timing Trap: Delve into the pros and cons of taking Canada Pension Plan (CPP) and Old Age Security (OAS) benefits early versus deferring them, discussing the break-even math, and how working income or pension bridges factor into this crucial retirement decision.

Stop wondering if you're making the right financial decisions—this episode delivers the clarity and actionable advice you need to feel secure about your future

In every episode of Your Life and Money, hosts Brad Smith and Tim Borody share expert advice to help you get the best life possible with the money you have. This episode is a must-listen as they kick off a two-part series answering the most common and critical financial questions of the year.

The Tax Tangle: RIFs, TFSAs, and How to Protect Your Wealth

• Understanding the RIF Risk: Learn why the money in your Registered Retirement Income Fund (RIF) is taxed as income in the year of death and how that liability can reach Canada's highest marginal tax bracket (up to 54%).
• Choosing the Right Beneficiary: Explore the options for naming beneficiaries—from spousal rollover to naming children or a charity—and the specific tax implications for your estate in each scenario.
• The Power of Successor Holders: Discover the critical difference between naming a beneficiary and a successor holder on a Tax-Free Savings Account (TFSA) and how the latter is key to preserving the tax-free status for your surviving spouse.

Whether you are accumulating wealth or distributing it, the decisions you make today on your registered accounts will define the value of your legacy—tune in to ensure your wealth plan is perfectly aligned with your life and priorities.