Build Wealth Canada Podcast
Kornel Szrejber: Investor
As one of Canada's youngest retirees at the age of 32, and after becoming mortgage-free at 29, Kornel interviews the top financial experts in Canada to help you optimize your investments, reduce your taxes, and help you accelerate your journey towards financial independence and early retirement. He also shares his own experiences and lessons learned in investing and as an early retiree and member of the FIRE (Financial Independence, Retire Early) movement to help you optimize your finances, specifically here in Canada.
Categories: Business
Listen to the last episode:
With inflation slowing down here in Canada, we are starting to hear talks about the Bank of Canada no longer planning to increase our interest rates, or maybe even lowering them.
This can have an impact on your investment portfolio, particularly if you hold bonds, because remember there is that inverse relationship between interest rates and bonds, where increases in the interest rate tend to lower the value of the bonds that you hold in your portfolio. On the flip side, if the Bank of Canada lowers our rates, you can expect your bonds to increase in value.
Apart from your investments, the interest rate can of course have a substantial impact on your month-to-month cashflow, when it comes to things like mortgages as well as the real estate market in general.
So, with Spring just around the corner and the real estate buying and selling season about to kick-off, I thought it would be great to have our Resident Mortgage Expert, Sean Cooper back on the show to discuss:
-What Canadians should be thinking about when it comes to their mortgages right now.
-Should you do a fixed rate or variable rate mortgage if you’re buying a home or have a mortgage coming up for renewal?
-What if you’re considering locking in your mortgage to a fixed rate?
The optimum answer for all of this can change for you depending on what is happening in the market right now and your own situation, so Sean takes us through the different things you should consider.
You’ll also learn, what your options are if you find a better mortgage than what you have right now. What if the rates do drop and you’re now able to get a less expensive mortgage? Can you switch? What can the penalties be? And, can it be worth it to pay those penalties if you find a better mortgage?
About Our Expert Guest:
In case this is your first time hearing Sean on the show, he is the show’s Resident Mortgage Expert and who I go to and who I send friends and family to for any mortgage related questions.
Sean is the bestselling author of the book, Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians.
He is also an independent mortgage broker and has made himself available to help answer mortgage related questions to listeners of the Build Wealth Canada Show.
If you have any questions, or are just looking to get a shortlist of the best mortgages that he’s been able to find in Canada (since he’s constantly on the lookout for the best mortgages), you can reach out to him over at buildwealthcanada.ca/sean.
And now, let’s get into the interview.
Previous episodes
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184 - How to Save Money on Your Mortgage + 2024 Housing & Interest Rate Update Tue, 05 Mar 2024 - 0h
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183 - Important Tax & Investing Changes for 2024 (for Canadians) Thu, 25 Jan 2024
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182 - Where to Park Your Cash? Regulatory Changes & What Are Your Options in Canada? Wed, 13 Dec 2023 - 0h
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181 - How to Live Off Your Investments in Canada - Kyle Prevost Wed, 15 Nov 2023 - 0h
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180 - 4 Steps to a Worry-Free Retirement in Canada - Kyle Prevost Tue, 10 Oct 2023 - 0h
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179 - Paying Less in Interest, Getting the Right Mortgage (New or Renewal), Handling the Higher Interest Rates in Canada Wed, 06 Sep 2023 - 0h
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178 - Lessons on Mastering Money in Canada - Featuring Fred Masters Tue, 01 Aug 2023
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177 - How to Optimize Your Investments to Pay the Least in Tax (for Canadians) Wed, 21 Jun 2023 - 0h
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176 - How Much Should You Optimize Your Investment Portfolio? The Pros and Cons of Each Approach Wed, 14 Jun 2023 - 0h
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175 - Ask Kornel: Should I Switch My Investments? Should I Be Worried? Are My Investments Falling Behind? Wed, 07 Jun 2023 - 0h
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174 - How to Raise Money Smart Kids, Teens and Young Adults Wed, 31 May 2023
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173 - Active vs. Passive Investing: Interview with S&P (S&P 500, Dow Jones) & How to Choose the Right ETFs Thu, 25 May 2023
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172 - Financial Independence Case Study and How You Can Retire Early Fri, 19 May 2023 - 0h
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171 - How to Maximize Your Inheritance in Canada (and minimize your fees) Wed, 10 May 2023 - 0h
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170 - A DIY Investor's Guide to Determining Your Financial Independence Number and Sustainable Withdrawal Strategy Tue, 11 Apr 2023
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169 - Rising Interest Rates, New Mortgage Rules, and Variable vs Fixed Mortgages in Canada for 2023 Wed, 08 Mar 2023
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168 - Finding Your Financial Independence Number and How to Live Off Your Portfolio Wed, 15 Feb 2023
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167 - How to Live Off Your Investments and How Much Do You Need? Featuring Ed Rempel Tue, 17 Jan 2023 - 0h
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166 - How to Retire in Your 30s on Two Teacher Salaries (A Case Study and Practical Guide) Wed, 16 Nov 2022
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165 - Should You Do Any Active Investing? and a Financial Independence Case Study Tue, 08 Nov 2022 - 0h
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164 - A Financial Independence Case Study: How to Achieve Early Retirement and Happiness With Jordan Grumet Tue, 01 Nov 2022
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163 - Best ETFs in Canada - Featuring MoneySense and Ben Felix Tue, 25 Oct 2022 - 0h
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162 - Vanguard ETFs in Canada: Your Top Questions Answered, Right From the Source Tue, 18 Oct 2022
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161 - How to Optimize for Financial Independence (Investing, Budgeting, Money Management Optimizations) with Brandon Beavis Tue, 11 Oct 2022
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160 - How to Protect Yourself From Inflation Tue, 04 Oct 2022 - 0h
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159 - Should You Use Options In Your Investment Portfolio? How Do Options Work in Investing? Tue, 13 Sep 2022 - 0h
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158 - Optimizing Investing Through Your Work - Employer Match, Defined Benefit, and Defined Contribution Pensions in Canada - Featuring Robb Engen from BoomerAndEcho.com Wed, 10 Aug 2022
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157 - Hybrid Investing: An Improvement on Passive Investing? Tue, 05 Jul 2022
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156 - Are You Holding the Right Bonds in Your Investment Portfolio? Tue, 21 Jun 2022 - 0h
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155 - Andrew Hallam: How to Invest and Spend for Happiness, Health, and Wealth Tue, 07 Jun 2022 - 0h
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154 - Guaranteed Income For Life: How to Use Annuities in Your Investment Portfolio Wed, 11 May 2022 - 0h
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153 - Rising Interest Rates, Variable vs Fixed Mortgages, and How to Take Equity Out of Your Home Tue, 05 Apr 2022
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152 - Your Guide to All-In-One ETFs and Socially Responsible Investing Wed, 23 Mar 2022 - 0h
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151 - How to Use Factor ETFs to Fine-Tune Your Portfolio + Market Update Tue, 22 Feb 2022 - 0h
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150 - How to Live Off Your Investment Portfolio With Best Selling Author Andrew Hallam Tue, 01 Feb 2022 - 0h
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149 - How to Make Sure You’re Covered - Optimizing Insurance in Your Financial Planning Tue, 25 Jan 2022 - 0h
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148 - Lessons Learned After 5 Years of Early Retirement + Post Pandemic Small Business Update for Canadians Tue, 02 Nov 2021
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147 - How to Save Money: Top Lessons From Teaching 100,000+ Canadians Sat, 18 Sep 2021
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146 - How to Be Your Own Money Manager - Passiv + Wealthica Wed, 21 Jul 2021 - 0h
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145 - The Best ETFs in Canada for 2021 Wed, 16 Jun 2021
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144 - How to Get Your Will Done in 20 Minutes (and Why It’s Critical) Wed, 19 May 2021
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143 - How to Save On Taxes in Canada, Featuring Tax Expert Neal Winokur Wed, 14 Apr 2021
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142 - Rising Mortgage Interest Rates + Real Estate Update For Canadians Tue, 16 Mar 2021 - 0h
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141 - Retired at 29: How They Did It In Canada (with 3 kids) Wed, 17 Feb 2021
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140 - Optimizing Your Investments and Finances for the New Year and Beyond Tue, 12 Jan 2021
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139 - How To Structure Your Investments For An Early Retirement Wed, 02 Dec 2020
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138 - Your Questions Answered + Real Estate Update For Canadians Thu, 29 Oct 2020
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137 - The Best Way to Diversify Your Income: Build a Business Tue, 22 Sep 2020 - 0h
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136 - How To Increase Your Savings, Manage Your Money Better, And What Tools And Systems To Use Tue, 25 Aug 2020
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135 - How to Get the Lowest Rates by Optimizing Your Credit Score Tue, 28 Jul 2020 - 0h