Meet with PWL Capital — https://pwlcapital.com/ PWL Team — https://pwlcapital.com/our-team/ Avoid Online Scams — https://pwlcapital.com/stay-safe-online/ Ben Felix or any PWL employee will never reach out to you on social media platforms or WhatsApp to give financial advice. These are scammers trying to commit fraud. In this episode, we welcome back Dave Chilton, author of The Wealthy Barber and one of Canada's most influential voices in personal finance. With his retirement approaching, Dave joins Ben Felix and Cameron Passmore for a wide-ranging conversation about the success of The Wealthy Barber Podcast, the evolution of financial advice in Canada, and the lessons he's learned from decades of helping people navigate their financial lives. We explore why retirement income planning remains an underserved area of financial advice, how to evaluate different advisor fee models, and why strategies like the RRSP meltdown can be valuable for some people but inappropriate for others. Dave also shares his concerns about rising living costs, high investment fees, and the potential economic disruption from AI, while explaining why he remains optimistic about the future of financial planning. Along the way, he reflects on the importance of saving consistently, the challenges of communicating complex financial ideas, and why the best advice starts with understanding the individual. As Dave prepares to step away from The Wealthy Barber, he also opens up about what retirement means to him, the importance of spending time with family and friends, and the habits that contribute to a happier life. It's a thoughtful, funny, and practical conversation about financial advice, personal finance education, and making the most of the time we have. Sources — https://zbib.org/bfd0e870f53f49f7beae3ef7975e60ff Timestamps: 0:00:00 Episode Preview 0:00:17 Intro 0:02:18 Dave describes the success of The Wealthy Barber podcast 0:03:39 How important it was to launch a podcast alongside his updated book 0:06:39 Dave compares the connection he has with his podcast audience to past connections with his book readers 0:09:44 Whether any of Dave's interviews for the podcast changed his views or surprised him 0:11:58 Who Dave wants to see step up to fill the void 0:15:55 How How important Dave's humour has been to the impact he has had 0:18:04 How we make our nerdy content more appealing to more Canadians 0:22:26 What Dave is most optimistic about in Canadian personal finance 0:24:02 What Dave is most pessimistic about in Canadian personal finance 0:26:04 The main source of money stress for the people that Dave interacts with 0:28:07 How most Canadians choose a financial advisor 0:30:15 Where Dave lands on when the assets-under-management vs. fee only advice models make sense for consumers 0:33:54 How important retirement planning advice is, fee model aside 0:32:37 The problems with the RRSP meltdown strategy being promoted as good advice for everyone 0:41:00 How Dave decides who to respond to, when inundated with questions 0:44:03 The questions Dave asks people when they come to him for financial advice 0:51:30 The most common mistake he sees people making with their personal finances 0:55:57 What Dave has enjoyed most about this last leg of his Wealthy Barber journey 0:58:09 Whether there were any aspects that he did not enjoy or found more difficult than expected 0:59:24 What made Dave decide to retire now 1:00:25 Whether Dave is really going to disappear from the public eye entirely, or if we will still see him on some social media 1:02:34 How Dave feels about being "an owner not a loaner” 1:07:30 What Dave is going to be doing with his time in retirement to make the most of it 1:08:42 The biggest lifestyle changes for Dave between pre and post-retirement 1:11:03 Dave's advice for people 30 or 40 years younger than him today 1:15:11 Post-interview debrief 1:23:28 Disclaimer Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder on Spotify —https://open.spotify.com/show/6RHWTH9iW7hdnA7eAg7ukO?si=fe7f60349b584026 Benjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/