Episode 359 - The Most Controversial Topics in Personal Finance
Release Date: 05/29/2025
Episode 371: Banks Sell Products, Not Advice
The Rational Reminder Podcast
In this episode, Ben Felix and Cameron Passmore take a critical look at the Canadian banking system’s mutual fund advice model. A newly released study by the Ontario Securities Commission (OSC) and the Canadian Investment Regulatory Organization (CIRO) confirms what many already suspected: Canadian bank branches aren't in the business of giving impartial advice—they're selling financial products. Ben breaks down the implications of this study, which surveyed nearly 3,000 bank-affiliated mutual fund representatives, uncovering troubling statistics about sales pressure, lack of credentials,...
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Episode 370: Dave Chilton (The Wealthy Barber): Timeless Financial Advice
The Rational Reminder Podcast
What if the most impactful financial advice isn’t about picking the right investment—but about understanding human behaviour, simplifying your life, and laughing along the way? In this episode of the Rational Reminder podcast, we’re joined by none other than David Chilton, author of the legendary personal finance book The Wealthy Barber. David shares insights from decades of experience helping Canadians improve their financial well-being through simplicity, frugality, and clarity. We dig into the enduring lessons of his 1989 classic, why the new edition took even longer to write, and...
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Episode 369: The Most Important Quotes in Investing
The Rational Reminder Podcast
In this episode of the Rational Reminder Podcast, Ben Felix and Dan Bortolotti celebrate the show’s 7th anniversary with a conversation centered around timeless investing wisdom. Drawing from a vibrant thread in the Rational Reminder community, they unpack dozens of quotes that distill decades of financial insight into actionable mantras. What begins as a curated list of one-liners quickly evolves into a masterclass on the behavioral and practical realities of long-term investing. From “pay yourself first” to “diversification is the only free lunch,” Ben and Dan explore how...
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Episode 368: Jim Rowley & Andy Maack - Implementing Index Funds at Vanguard
The Rational Reminder Podcast
What if index funds weren’t as “passive” as you think? In this episode of the Rational Reminder, we are joined by Jim Rowley, Global Head of Investment Implementation Research, and Andy Mack, Head of US Equity Portfolio Management at Vanguard. These two experts offer a rare, behind-the-scenes look into what it really takes to run some of the world’s largest index funds—and it’s far from “set it and forget it.” From real-time trading decisions to managing $7 trillion globally, Jim and Andy walk us through how Vanguard implements index strategies with a precision that rivals any...
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Episode 367: AMA #8 + Insurance Needs Analysis with Louai Bibi
The Rational Reminder Podcast
What if early RRSP withdrawals aren’t always the tax-smart move they’re made out to be? In this special AMA edition of the Rational Reminder podcast, Ben and Cameron are joined by PWL Financial Planner Louai Bibi for a wide-ranging discussion on RRSP decumulation strategies, insurance planning, and the practical complexities that real clients face when theory meets reality. Ben walks through a listener’s case study and shares insights from colleague Melissa on why early RRSP withdrawals (a.k.a. “meltdown” strategies) are not always beneficial—especially when viewed through a...
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Episode 366 - Avoiding Investment Scams
The Rational Reminder Podcast
What happens when your favourite financial educator’s identity is hijacked by scammers? In this episode, Ben and Cameron pull back the curtain on a disturbing but increasingly common reality: sophisticated scammers using Ben’s name, voice, and online content to steal from unsuspecting investors. Ben breaks down exactly how these scams work—everything from fake WhatsApp investment groups and cloned emails to AI-generated voice notes and “pig butchering” scams that promise guaranteed returns. You’ll hear about pump-and-dump operations, shady PDFs full of financial nonsense, and how...
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Episode 365 – Rob Carrick's Eight Lessons Learned in 27 Years of Covering Personal Finance
The Rational Reminder Podcast
In this episode, we welcome back Rob Carrick—one of Canada’s most trusted personal finance journalists—for his third appearance on the Rational Reminder podcast. Rob recently retired after an incredible 27-year career at The Globe and Mail, where he shaped how millions of Canadians think about investing, advice, and their money habits. Rob joins Ben, Cameron, and Dan to reflect on the biggest lessons from his decades-long career, the state of Canadian financial advice today, and why young Canadians face headwinds unlike any previous generation. From the shift from mutual funds to ETFs...
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Episode 364 – Martijn Cremers: Is the Conventional Wisdom on Active Management Wrong?
The Rational Reminder Podcast
In this episode, we’re joined by Martijn Cremers, Dean of the Mendoza College of Business at the University of Notre Dame and co-author of the groundbreaking 2009 paper that introduced the concept of Active Share. Martijn brings fresh nuance to the long-standing debate over active versus passive management, challenging decades of conventional wisdom built on the foundational 1997 Carhart paper. With his comprehensive research, Martijn argues that dismissing active management may be overly simplistic—especially in less efficient markets like bonds, small-cap equities, or emerging markets....
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Episode 363 - The (Underappreciated) Risk of Individual Stocks
The Rational Reminder Podcast
What if holding just a few “winning” stocks is riskier than it seems? In this episode, Ben and Cameron explore the hidden dangers of concentrated portfolios and unpack the data that makes a strong case for diversification. Drawing from research by Hendrik Bessembinder, J.P. Morgan, and others, Ben lays out the harsh reality behind individual stock returns: the odds are stacked against long-term success. From skewed return distributions and catastrophic losses to behavioral traps like the endowment effect and familiarity bias, this conversation breaks down why most stock pickers lose—and...
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Episode 362 – AMA #7
The Rational Reminder Podcast
What if the hardest part of investing isn’t building a portfolio—but sticking to it? In this AMA edition of the Rational Reminder podcast, Ben Felix and Dan Bortolotti tackle listener questions ranging from sustainable retirement withdrawals to the dangers of structured products, with plenty of philosophical insights on risk, behavior, and financial planning. The episode opens with a deep dive into the 4% rule, exploring how time horizon, asset allocation, and global data can shift the definition of “safe.” They also explore the behavioral challenges of the “boring...
info_outlineFor the first time as a host combination, Ben, Dan, and Cameron sit down to discuss the most controversial topics in personal finance. We begin with identity and how it informs decision-making. Then, we revisit the renting versus buying debate, why this remains a highly controversial topic, the ins and outs of income investing, and understating the fervor of dividend investing. We also unpack FIRE as a branch of self-help; how it informs happiness; and how personality influences one’s approach to the FIRE principle. To end, we closely examine Bill Bengen’s 4% rule, and the Aftershow encourages us to maintain high podcasting standards while revealing what you can look forward to in our latest Rational Reminder t-shirt release.
Key Points From This Episode:
(0:01:25) Cameron’s positive LinkedIn experience regarding insurance.
(0:08:10) How identity informs decision-making.
(0:15:24) Why renting versus buying a home remains a controversial topic.
(0:27:50) Income investing, covered calls, and the fervor of dividend investing.
(0:46:34) FIRE: Financial independence, retire early.
(0:54:36) Unpacking FIRE as a branch of self-help, and the role of FIRE in happiness.
(1:07:07) How personality and identity inform one’s approach to FIRE.
(1:10:34) Addressing the 4% rule.
(1:14:16) The Aftershow: Setting and keeping high standards, and Rational Reminder t-shirts.
Links From Today’s Episode:
Meet with PWL Capital — https://calendly.com/d/3vm-t2j-h3p
Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — https://rationalreminder.ca/
Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/
Rational Reminder on X — https://x.com/RationalRemind
Rational Reminder on TikTok — https://www.tiktok.com/@rationalreminder
Rational Reminder on YouTube — https://www.youtube.com/channel/
Rational Reminder Email — [email protected]
Rational Reminder Merchandise — https://shop.rationalreminder.ca/
Benjamin Felix — https://pwlcapital.com/our-team/
Benjamin on X — https://x.com/benjaminwfelix
Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/
Cameron Passmore — https://pwlcapital.com/our-team/
Cameron on X — https://x.com/CameronPassmore
Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/
Episode 358: Eli Beracha: An Academic Perspective on Renting vs. Owning a Home — https://rationalreminder.ca/podcast/358
Episode 214: Jay Van Bavel: Shared Identities and Decision Making — https://rationalreminder.ca/podcast/214
Episode 260: Prof. James Choi: Practical Finance — https://rationalreminder.ca/podcast/260
Episode 273: Professor Samuel Hartzmark: Asset Pricing, Behavioural Finance, and Sustainability Rankings — https://rationalreminder.ca/podcast/273
Episode 95: Scott Rieckens (Playing with FIRE): Finding Financial Education, Perspective, and Freedom — https://rationalreminder.ca/podcast/95
Episode 258: Prof. Meir Statman: Financial Decisions for Normal People — https://rationalreminder.ca/podcast/258
Bonus Episode - Prof. Meir Statman: A Wealth of Well-Being — https://rationalreminder.ca/podcast/2024/4/18/bonus-episode-prof-meir-statman-a-wealth-of-well-being
Episode 230: Prof. Robert Frank: Success, Luck, and Luxury — https://rationalreminder.ca/podcast/230
Episode 135: William Bengen: The 5% Rule for Retirement Spending — https://rationalreminder.ca/podcast/135
Episode 164: Comprehensive Overview: The 4% Rule — https://rationalreminder.ca/podcast/164
Episode 357: AMA #6 — https://rationalreminder.ca/podcast/357
Morgan Housel — https://www.morganhousel.com/
‘Renting vs. Buying a Home: What People Get Wrong’ — https://www.youtube.com/watch?v=j4H9LL7A-nQ
MobLand — https://www.imdb.com/title/tt31510819/
Ray Donovan — https://www.imdb.com/title/tt2249007/
Animal Kingdom — https://www.imdb.com/title/tt5574490/
Books From Today’s Episode:
Rich Dad Poor Dad — https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194
Self Help, Inc.: Makeover Culture in American Life — https://www.amazon.com/Self-Help-Inc-Makeover-American/dp/0195337263
Papers From Today’s Episode:
'Motivated Numeracy and Enlightened Self-Government' - https://www.cambridge.org/
‘Nevertheless, They Persist: Cross-country differences in homeownership behavior’ — https://www.sciencedirect.com/science/article/abs/pii/S1051137721000590
‘Rent or Buy? Inflation Experiences and Homeownership within and across Countries’ — https://www.researchgate.net/publication/379974645_Rent_or_Buy_Inflation_Experiences_and_Homeownership_within_and_across_Countries
‘Dividend Policy, Growth, and the Valuation of Shares’ — https://www.researchgate.net/publication/24102112_Dividend_Policy_Growth_and_the_Valuation_Of_Shares
‘Chapter 3 - Behavioral Household Finance*’ — https://www.sciencedirect.com/science/article/abs/pii/S2352239918300046
‘Common Risk Factors in the Returns on Stocks and Bonds’ — https://www.sciencedirect.com/science/article/abs/pii/0304405X93900235
‘The Dividend Disconnect’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2876373
‘A Devil's Bargain: When Generating Income Undermines Investment Returns’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4580048
‘The Financialization of Anti-Capitalism? The Case of the “Financial Independence Retire Early” Community’ — https://www.tandfonline.com/doi/full/10.1080/17530350.2021.1891951
‘High Income Improves Evaluation of Life But Not Emotional Well-Being’ — https://www.pnas.org/doi/10.1073/pnas.1011492107
‘Income And Emotional Well-Being: A Conflict Resolved’ — https://www.pnas.org/doi/10.1073/pnas.2208661120