Podcast #13 – FI Garage Approved Drinks

fi approved drinks, drinks
Show notes for episode #13

In this episode, the Mechanic, the Accountant, and the Economist discuss a listener email and ponder some FI approved drinks. We’ll sample a few new beers as usual too. If you found this podcast you’re probably familiar with the FI/RE movement that has grown in popularity recently. Here at the FI Garage, we’re all on the path to FI, however, we consider the RE part optional.

*These show notes include referral or affiliate links – donated by an asterisk. Thanks for helping to support the podcast!

Beer #1 – Radler made with Lucky Lager [1:30]
Useful Financial Product [5:05]
  • Koho (Visa)
    • 0.5 percent cashback
    • Our referral code is OXQM6GDT*
    • The signup bonus is an additional 1 percent cash back for your first 90 days – not much of a deal.
  • Stack (Mastercard)
    • special offers
    • Our referral link is here*
  • You get $20 for signing up – not bad! – and we get $5.
  • Pre-loaded credit cards
  • Not a credit builder
  • Scotia SCENE debit card [6:57]
  • Segregating spending [8:50]

Non-Registered Accounts [9:40]

  • Shout out to Trevor for suggesting our topic [9:30 & 10:20]
  • Disclaimer! [10:00]
  • You’ve maxed out your registered accounts, now what? [11:20]
    • Interest-bearing investments are the least efficient form of investment income to earn in a taxable account [11:35]
    • Interest-bearing investments and foreign equities should go into tax-advantaged accounts.
  • Canadian Equities and Canadian ETFs are the best investments to hold in non-registered accounts [12:48]
  • Is paying off your mortgage a good use of your dollars when registered accounts are full? [13:20]
  • Start executing a Smith maneuver [14:07]
  • RESPs [15:30]
  • Look at your portfolio as a whole [16:45]
  • Consider talking to a financial planner or tax professional [18:00]
  • Consider a real estate investment [20:35]
  • Gold or other Alternative Investments [22:35]
  • Canadian dividend-paying stocks [24:00]
  • Joint-Accounts [28:28]
Beer #2 – The Money Mechanic’s FI Garage Dry-Hopped Ale [26:00]

FI Garage Approved Drinks [30:05]

  • Water [30:18]
  • Homebrew [30:45]
    • about $2 per Litre
  • Homemade Apple Cider [33:30]
    • $1 per Litre
  • Mix your own Hi-Balls [36:40]
    • $1 per Drink
  • Un-approved: Premixed Drinks [36:57]
  • Make your own Wine [38:00]
    • $3 per bottle
  • U-brew Facilities [39:00]
  • Quit Drinking [40:27]
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