The Rational Reminder Podcast Episode 14 – An inside look at Canadian consumer debt

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. We discussed the following:

  • The start of the ETF boom

  • When proponents of active management realize they should index

  • Cutting wasteful expenses without sacrificing happiness

  • Pulling off a successful downsizing

  • Housing is not an investment

  • The real cost of owning a home

  • Defining the ideal lifestyle

  • Digging into Canadian consumer debt levels

  • The real debt to income ratio for debtors in Canada

  • Is mortgage debt always “good” debt?

  • The rising cost of debt and its effect on the economy

  • Credit card rates are justified

  • Choosing the right credit card

  • Never pay an annual fee on a credit card

  • The boom-bust lending cycle

  • Bankers saw the financial crisis coming, but had to keep going

  • Focusing on the things that you can control