In Episode 14 of the Rational Reminder podcast we were joined by Martin Parizeau, a retired banking executive with extensive knowledge of Canadian consumer debt, and a PWL client.
Key Points From This Episode:
The start of the ETF boom [0:00:50]
When proponents of active management realize they should index [0:02:30]
Cutting wasteful expenses without sacrificing happiness [0:05:20]
Pulling off a successful downsizing [0:08:32]
Housing is not an investment [0:09:02]
The real cost of owning a home [0:09:58]
Defining the ideal lifestyle [0:10:30]
Digging into Canadian consumer debt levels [0:12:30]
The real debt to income ratio for debtors in Canada [0:14:02]
Is mortgage debt always “good” debt? [0:14:44]
The rising cost of debt and its effect on the economy [0:16:20]
Credit card rates are justified [0:19:18]
Choosing the right credit card [0:22:40]
Never pay an annual fee on a credit card [0:23:00]
The boom-bust lending cycle [0:25:30]
Bankers saw the financial crisis coming, but had to keep going [0:26:05]
Focusing on the things that you can control [0:30:19]
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