David Trahair - Procrastinating your way into retirement

David Trahair has written several books on personal finance. He’s a speaker, a personal finance trainer, and a chartered account with over 18 years of experience handing out free knowledge and budgeting templates on his website ( ). His most recent release is The Procrastinator’s Guide to Retirement - How to retire in 10 years or less. A huge shift in how to save for retirement is to track your expenses as a percentage of your income. We ask him about that, his book, and much more. [0:00 - 1:47] Intro [1:48 - 8:36 ] Money mistake or makeup - Amazon returns, the importance of psychology in your spending [8:37 - 14:03] What’s the inspiration for the book? Why is it important for Canadians? Are we falling behind due to rising costs? [14:04 - 20:32] ] Why is tracking your spending so important for retirement? How do you make it a habit? [19:04 - 31:00] RRSP vs. TFSA vs. Mortgage - which one do we pay into first? How do we evaluate where to spend our money? [31:01 - 34:27] Do we need an emergency fund? Or can we just use a line of credit? Emergency fund vs. line of credit - what are your thoughts? [34:28 - 36:14] A quick primer on predicting interest rates [36:15 - 42:33] Why is a fee-only financial advisor with a discount brokerage the investment style gaining in popularity? [42:34 - 47:51] With ETFs, do we still need a financial advisor? [47:52 - 53:51] How do we measure our stock performance? Is a robo-advisor enough? [53:52 - 57:34] Should we still be investing in GICs? [57:35 - 1:01:00] CPP and OAS aren’t enough to afford long-term care. Should we be taking more risky investments, cut spending, reduce expenses and cut our lives off to not live in squalor in retirement? [1:01:01 - 1:06:48] RAPID FIRE QUESTIONS What’s in your wallet? A book everyone should read? What was your first job and what did you learn from it? What is a commonly held belief about your industry or space that you passionately disagree with? If you had one tweet that everyone in the world would read, what would it say? What’s your number (to retire, how much you need?) Where can people find you if they have more questions? [1:06:49 - 1:07:39] OUTRO

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David Trahair - Procrastinating your way into retirement is an episode from Real Money Talk - A fresh take on personal finance by Tyler Wade.

This episode is 01:07:41 long.

This episode was published on Apr 30, 2021.

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