Welcome to the very first “Office Hours” episode of The Wealthy Barber Podcast where Canadians call in with real financial questions and Dave Chilton offers guidance through his signature mix of wisdom, wit and practical advice.
From coast to coast, listeners asked about everything from budgeting for big home repairs to whether “Pay Yourself First” applies to before- or after-tax income to investing tips for those who got a later start and much, much more. No jargon, no fluff—just honest, helpful education from one of Canada’s most trusted voices in personal finance.
Don’t miss this candid, fast-paced and surprisingly fun Q&A session. Got a question of your own? Submit it through our website’s contact form or DM us on social media and you might be featured in the next “Office Hours” episode!
FILMED: April 1, 2025
Show Notes
(00:00) Intro & Disclaimer
(00:48) Best Investments for the Short-Term?
(03:18) Which Index Funds to Pick as a Passive Investor?
(06:47) Advice if You Started Investing Later in Life?
(11:13) Is “Pay Yourself First” Before or After Tax?
(14:26) How to Budget for Major Home Expenses?
(16:56) What Should You Look For in a Financial Advisor?
(19:58) Lump Sum vs. Dollar-Cost Averaging
(23:51) Is the 4% Rule Still Valid Today?
(28:51) Send Us Your Questions!
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29:03
#13 — Mark Scheifele: The Wealthy Barber’s Impact on an NHL Star (15ish Minute Money)
Our guest this episode is Winnipeg Jets star Mark Scheifele! Mark was given a copy of “The Wealthy Barber” early in his career and it still influences the way he manages his finances today.
In this 15ish minute episode, Dave and Mark chat about Mark’s experience playing the NHL, what he likes to spend his money on, his approach to investing and, most importantly, Mark’s role on Dave’s fantasy hockey team.
Enjoy this quick episode with NHL star Mark Scheifele!
Show Notes
(00:00) Intro & Disclaimer
(00:55) Intro to Mark Scheifele
(01:26) Mark and the Winnipeg Jets' Great Year
(04:01) Dave's Fantasy Hockey Team
(04:41) When Mark First Read "The Wealthy Barber”
(06:00) What Does Mark Like to Spend Money On?
(07:10) The Parallels Between Hockey and Golf
(09:45) How Exciting Would it Be to Win the Stanley Cup in Winnipeg?
(10:25) Mark's Investing Approach
(11:59) Playing and Living in Winnipeg
(13:04) Conclusion
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13:21
#12 — Mark McGrath: TFSAs vs. RRSPs (15ish Minute Money)
In our very first 15ish-minute episode, we cover a big question: TFSAs or RRSPs? To help answer it, we’ve got Mark McGrath—Associate Portfolio Manager at PWL Capital and co-host of the “Rational Reminder” podcast—who’s spent plenty of time looking at all of the pros and cons.
In this podcast, Mark and Dave break down key points including why RRSPs get a bad rap (but shouldn’t), how RRSP withdrawals can actually be tax-efficient and why a TFSA’s flexibility isn’t always an advantage. All that, and more, in a fast-paced, insight-packed episode.
Don’t miss this one—20 minutes could save you thousands in retirement savings!
Show Notes
(00:00) Intro & Disclaimer
(00:55) Intro to Mark McGrath
(02:27) TFSAs vs. RRSPs
(05:19) Comparing Tax on TFSAs vs. RRSPs
(09:09) Why RRSP Withdrawals Can Often Be At a Lower Tax Rate
(14:53) What if The Government Raises Taxes in the Future?
(17:31) How the Canada Child Benefit (CCB) Changes the Math
(18:40) TFSAs Are More Flexible—A Double-Edged Sword
(20:47) Conclusion
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21:22
#11 — Robb Engen: Navigating Retirement and Advice-Only Financial Planning
Our guest this episode is Robb Engen—creator of the Canadian personal finance blog “Boomer & Echo” and advice-only financial planner based in Lethbridge, AB.
In this podcast, Dave and Robb discuss navigating retirement and the world of advice-only financial planning—what it is, why it’s not as common in Canada and Robb’s unconventional career path in finance. Much of the conversation has Robb sharing his expertise on retirement planning, covering everything from when to take your CPP to safe withdrawal rates to planning for big expenses and much more.
Whether you’re nearing retirement or just curious about fee-only financial planning, this episode is packed with insights you won’t want to miss!
Show Notes
(00:00:00) Intro & Disclaimer
(00:00:55) Intro to Robb Engen
(00:06:39) What is Advice-Only Financial Planning
(00:12:26) What Type of Clients Are Best for Advice-Only Planning
(00:17:09) Why Isn't Advice-Only Planning More Popular in Canada
(00:19:17) Upsizing in Retirement
(00:21:04) When Should You Take Your CPP?
(00:25:11) Spending in Retirement
(00:29:29) All-in-One ETFs
(00:30:56) Robo-Advisors Turning Into Speculative Investment Platforms
(00:35:01) Safe Withdrawal Rates in Retirement
(00:37:47) Planning for Large One-Time Expenses in Retirement
(00:42:57) Giving Kids Money for a Down Payment
(00:44:02) Housing Prices Are Unfair For The Younger Generation
(00:45:49) Postnups
(00:46:55) Options for Accessing Your Home Equity in Retirement
(00:50:43) Giving Money Away if You Have Enough for Retirement
(00:53:58) Life Insurance
(00:55:43) Grandparents Helping to Fund RESPs
(00:57:28) Robb’s Big Three Takeaways
(00:59:51) You Just Retired… Now What?
(01:02:40) Dave's Dad's "Solution" to Financial Planning
(01:03:46) Die With Zero
(01:04:48) Conclusion
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1:06:09
#10 — Arlene Dickinson: Dragons’ Den, Her Early Career Struggles & The Current Economic Climate
Our guest this episode is none other than Arlene Dickinson—famed businesswoman, investor, author and the longest-serving Dragon on CBC’s "Dragons’ Den."
In this episode, Dave and Arlene reminisce about their time on "Dragons’ Den" together and chat about everything from Arlene’s early career struggles to the potential US tariffs to the current economic climate for Canadian entrepreneurs and much, much more.
Don’t miss this fantastic episode!
Show Notes
(00:00) Intro & Disclaimer
(00:55) Intro to Arlene Dickenson
(02:46) Dragons’ Den
(04:26) Handling Online Criticism
(08:21) Arlene’s Early Career Struggles
(16:13) How Did Arlene Become a Dragon?
(19:46) Reflecting on the Impact of Dragons’ Den
(22:14) Two Lessons Arlene Taught Dave
(24:24) The Time Arlene Accidentally Got Drunk on Dragons' Den
(25:53) The Current Economic Climate for Canadian Entrepreneurs
(30:03) Potential US Tariffs
(33:48) Younger Canadians Are Frustrated
(36:08) Taxes & Government Spending in Canada
(37:56) How Do We Build Up the Canadian Entrepreneur Ecosystem?
(42:46) The Impact of AI
(47:12) Arlene's Closing Message for the Audience
The Wealthy Barber Podcast is Canada’s go-to source for approachable, entertaining, and free financial education. Hosted by none other than David Chilton—former Dragon on CBC’s ”Dragons’ Den” and the best-selling author of ”The Wealthy Barber” and ”The Wealthy Barber Returns”—this podcast is here to help Canadians manage their money better. Much better.
Dave Chilton has spent over 35 years demystifying personal finance, offering understandable, unbiased, and actionable advice that has empowered millions of Canadians to achieve their financial goals. Now, he’s bringing that same wisdom to your favourite podcasting platforms, with regular episodes designed to make personal finance simple, relatable, and yes, even entertaining.
Episodes of The Wealthy Barber Podcast features Dave in conversation with expert guests from across the spectrum of Canadian personal finance. From investing and real estate to taxes, RESPs, and even money psychology, no topic is off-limits. Plus, don’t miss our special “Office Hours” episodes, where Dave answers real questions from audience members, delivering informed, balanced, and sometimes downright funny advice.
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