#71 — Jonathan Chevreau: Lessons from Decades as a Personal Finance Author & Journalist

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The Wealthy Barber Podcast 39 min 1 speaker 8 chapters transcribed 1 day ago
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What is the background and early career of Jonathan Chevreau?

Unknown 0:01
Oh wow
Dave Chilton 0:05
Hey, it's Dave Chilton, the wealthy barber and former dragon on Dragon's Den. Welcome to the Wealthy Barber Podcast, where we'll be hosting some of the top minds in the world of personal finance. Yes, that's to balance me out. The podcast is about making the subject not just easy to understand, but dare I say, even fun, honest. Whether you're trying to fund your retirement, figure out how to build a down payment. save for your kids' education, manage debts, whatever will be here to help you do it. Before we jump in, a quick but important note. Nothing we discuss here should be taken as investment advice. We don't know you and your personal financial situation, so we're not here to tell you where specifically to put your investment dollars.
Dave Chilton 0:45
We're here to educate, get you thinking, and we hope entertain. But please do your own research and or consult with your financial advisor before taking any action. Hey, it's Dave Chilton, the Wealthy Barber with the Wealthy Barber Podcast. I mentioned last episode how much momentum the podcast has right now everywhere I go. People come up and talk to me about how much they're enjoying the guests. A couple weeks ago a lady said to me, It is my absolute Favourite. Financial podcast and I said, Oh great, thank you. What other ones do you listen to? And she paused and said, Actually I don't listen to any other financial podcast. So really it's not that big a call for it to be honest with you. I I'm pretty excited about today's podcast because I've got an old friend, someone I respect greatly on the show.
Dave Chilton 1:28
A lot of you will recognize him, Jonathan Chevro. We've known each other for over thirty years. I think he started the Globe. He can correct me if I'm wrong, but I really didn't know him well then. I got to know him as many of you got to know him. When he was the personal finance columnist for the financial post, national post for 20 years, and became one of the strongest and most influential voices in the country in the world of personal finance, talked about a wide variety of subjects intelligently, and this is a sharp guy, and that's why I'm looking forward to having him on. He's gone from there on to be the editor-in-chief at Money Sense, now he's the editor at large at MoneySense. He has findependencehub.com.
Dave Chilton 2:10
He's involved in a lot of things. He's prolific. He's put out a great number of books over the years, including the novel Findependence Day. So we've got a lot to discuss. Jonathan, welcome to the show. Thanks, David. I've enjoyed his writing immensely. Learned a lot from him over the years. Interesting how we first got to know each other. Jonathan was ahead of the curve by a long shot in Canada at criticizing the high cost mutual funds in this country and talking about the potential benefits of passive investing, using index funds, what are you seeing stateside, when it would make its move to the Canadian marketplace, et cetera. That's how a lot of us got to know you initially.

How did Jonathan first warn Canadians about high‑cost mutual funds?

Dave Chilton 2:51
Talk a little bit about what you've seen on that front over the last 20 and 25 years.
Jonathan Chevreau 2:55
Well, ironically, David, that was in my book The Wealthy Barber, sorry, The Wealthy Pumer. And I sort of ripped off your title and I was worried that I lowered you by doing so. Originally actually I was with Key Porter Books and That's right. And they said it was the working title was Life After Mutual Funds. And they said, What do you mean, Life After Mutual Funds? What's the market? What's the demographic? I said, Well, like wealthy boomers. And their eyes lit up, the marketing people go, wealthy boomer, that's it. So I've gone out of my way to rip off the wealthy barber, but even now I should have st started with Independence Day. Anyway, but the preface of that book, which came out in nineteen ninety eight, was written by an actuary I know you really respect, Malcolm Hamilton.
Jonathan Chevreau 3:34
So here we go guy something I think it was on the Rural Assembly too, a sort of a really Explanatory reason as to what you've discussed with Ben Felix and Preet Benerjee and most of your other guests about indexing and the high cost of fees.

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