Bob Lai and Nelson Smith
DIY Wealth Canada Podcast
Join hosts Bob Lai and Nelson Smith as they talk about wealth creation strategies, investing tips, and much, much more, all from a fiercely independent (and Canadian!) perspective.
Author
Bob Lai and Nelson Smith
Category
Podcast website
Latest episode
Jun 29, 2026
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Episodes
Ep 39 - Live Season Finale 29.06.2026 45:01
This week's episode was special. Not only is it our season finale, but we took your questions LIVE on Twitter. We covered all sorts of things, including what we do when a company cuts its dividend, whether currency hedging is a good idea, and, of course, some dividend stocks we think might be interesting today. Thanks everyone for a great season 1, and we'll see you again in the fall.
Ep 38 - What We've Learned in the Past Year 22.06.2026 44:03
"I think a life properly lived is just learn, learn, learn, all the time. And I think Berkshire's gained enormously from these investment decisions by learning through a long, long period." -- Charlie Munger This week's episode is a special one. Bob and Nelson discuss some of the most important investing lessons we've learned recently, including the importance of growth, feel...
Ep 37 - Our Fearless Predictions 15.06.2026 36:57
There is a very good chance we're going to look stupid, but screw it. Predictions are fun! In this episode of the pod, Nelson and Bob make all sorts of wild predictions. We opine on whether the stock market will continue to perform, what'll happen with interest rates, which companies will cut dividends, and a few *really* interesting wildcards at the end.
Ep 36 - 10 Stocks to Buy and Hold... Forever 08.06.2026 47:49
So-called "one decision" stocks are fantastic choices for long-term investors. You only need to make one decision -- when to buy -- and the rest takes care of itself. But what stocks belong on such a vaunted list? Join Bob and Nelson as we go through such stocks in our portfolios, sharing the best of the best in sectors such as Canadian banking, utilities, REITs, and even some U.S. tech....
Ep 35 - Bubbles 01.06.2026 42:02
This week Bob and Nelson are talking bubbles. More specifically, the AI bubble. We talk about how you might want to invest if you worry about a bubble, some other bubbles we remember, and steps you can take to protect yourself if you just can't resist speculating on something frisky. And, as a bonus, Nelson goes off on an old-man-yells-at-cloud anti-AI rant that he's been holding inside fo...
Ep 34 - Living off Dividends: The Good, Bad, and Ugly 25.05.2026 41:26
Both Bob and Nelson have a simple retirement plan. We want to live off the dividends while the underlying shares continue to go up in value. This method has a ton of advantages. It's worked well historically. It's simple. And it comes with much lower taxes than you might first assume. But that doesn't mean it's a perfect solution for everyone. This episode we dig deep into the conc...
Ep 33 - How To Travel for Cheap 18.05.2026 44:21
What's the point of retiring early if you're not going to use that extra time to travel? This week's episode dives into how Bob and Nelson use travel hacking to save serious money on flights, hotels, and more. Bob shares how he used points to save a ton of money on a recent trip, including ways to accumulate those points quickly in the first place. We also look at some of the negatives...
Ep 32 - Real Estate Investing 11.05.2026 45:34
Real estate investing is as old as time itself. You buy a place, rent it out, and pocket the profit after expenses. It's been a solid way to make money. But in 2026 we're not sure we agree. In this week's episode Bob and Nelson tackle the topic. Nelson passes on his personal experience (including why he sold his physical properties in 2022), and we weigh on a way to get the same kind o...
Ep 31 - Mark Seed on Finfluencers 04.05.2026 44:58
Another week, another guest! Mark Seed joins Bob and Nelson on the pod again. This time the subject is finfluencers, folks who might have good intentions but often operate in a grey area outside of regulator control. We debate whether finfluencers are a good or bad thing for DYI investors, how to tell if someone is worth listening to, and much more. If you're looking for more Mark, check out M...
Ep 30 - Anthony the Newcomer Investor 27.04.2026 51:23
This week Bob and Nelson welcome another excellent guest to the pod. Anthony is the Newcomer Investor on X (@newcomerinvest), who absolutely loves the game of business. After starting out as primarily a dividend growth investor, Anthony has evolved into primarily a growth investor -- but don't worry dividend lovers. He still owns a bunch of dividend stocks. We talk about Brookfield, Thomson Re...
Ep 29 - Can You Really Retire on $1M 20.04.2026 43:12
It used to be that if you had one million dollars, you were rich. But things are different today. In a world where seemingly everybody is in the seven-figure club and $1M doesn't even buy a nice house in Toronto or Vancouver anymore, is it really enough to retire on? Or do Canadians need to save more? Bob and Nelson tackle these questions on the pod this week, taking a math-based approach to t...
Ep 28 - We (Keep) Talkin' Dividends 13.04.2026 52:11
We had so much fun talking dividends last week that we decided to do it again. We cover some of our favourite stocks in the energy sector, pipelines, gold, REITs, and a whole lot more. Plus, a little look at a company that has quietly become a pretty interesting buy. For more on REITs, visit Bob's look at 5 of the best REITs in Canada
Ep 27 - We Talk Dividend Stocks 06.04.2026 47:10
In this week's episode we talk stocks. Dividend stocks, of course. We cover a bunch of different names, including Telus, Canadian banks, Capital Power, Brookfield, and more. A great show for anyone looking for stock ideas. For more research on Brookfield Asset Management, visit Canadian Dividend Investing .
Ep 26 - Mike the Dividend Guy 30.03.2026 43:44
This week on the pod Bob and Nelson welcome a very special guest, Mike the Dividend Guy. He's one of the best dividend investors out there, so we're extra excited about this one. We discuss Mike's specific version of dividend investing, including why he places more of an emphasis on growth than most, the importance of what Mike calls the dividend triangle, and a whole lot more. Plus we...
Ep 25 - Why Do We DYI? 23.03.2026 39:05
"Why don't y'all use a financial advisor?" This week's episode of the pod is a little more reflective than most. Bob and Nelson spend a lot of time talking about the 'how' part of DIY investing, helping to educate y'all on just exactly what we do and how we do it. This week's episode focuses more on the why, and why Canadians might distrust the financial advic...
Ep 24 - When To Sell a Stock 09.03.2026 44:33
This week on the pod Bob and Nelson tackle one of the toughest questions in the investing world. Just when should you sell a stock, anyway? The short answer is this. It's complicated and most investors suck at it. They sell when a stock gets back to break even, or when it hits some target price they've pulled out of the sky. We share some thinking that has worked for us. Maybe it'll wo...
Ep 23 - Cash Management 02.03.2026 44:39
Just what should you do with your cash, anyway? We're not talking about investments here, but cash. That is money in your emergency fund, or that's been put aside for a big purchase in the next 6-12 months, or perhaps a reserve waiting to be invested. Most folks will default to the highest yield possible, or put their money into an asset that might appear safe but actually has hidden risks...
Ep 22 - Which Online Brokerage is Best? 23.02.2026 49:53
One of the most common questions we get involves online brokerages. Which one should I use? Which ones stink? This week on the show Bob and Nelson attempt to answer this question once and for all, but the conclusion isn't necessarily the same for every investor. Some will want a lot of features, while others are just looking for free trades. We go through each and list the pros/cons, plus we e...
Ep 21 - Failed Early Retirement 16.02.2026 42:11
This week's episode is one y'all won't want to miss. We turn things around a little bit with Bob interviewing Nelson. About what exactly? About how Nelson has officially failed at early retirement. He has a real job again. Nelson talks about everything that went into the decision, talking about the hardest parts of his early retirement, how it wasn't really what he expected, and th...
Ep 20 - You Ask, We Answer 09.02.2026 47:59
This week on the pod Bob and Nelson reach into the mailbag and answer your questions. We cover such things as whether Telus can maintain that generous dividend, how to invest cash you might need 12 months from now, and we tackle the question that we both get the most, by far. Leave a comment to ask a question we'll use for our next Ask Us Anything episode.
Ep 19 - Worst Financial Advice 02.02.2026 36:56
Both Bob and Nelson are lucky that we've gotten a lot of good financial advice from trusted people right when it was needed most. But we've also gotten a fair bit of advice that's downright terrible. This week's episode talks about the worst of the worst as we go over some of the most damaging advice we've ever been given. The most interesting part is that one man's bad fin...
Ep 18 - Home Country Bias 26.01.2026 51:55
"You can't have the majority of your portfolio in Canadian stocks. Don't you know that Canada is only 3% of the world's market?!?!?" This week on the pod Bob and Nelson tackle this question from a more contrarian perspective. We argue that the TSX is actually much more diversified than it first appears, and that some of the advantages to concentrating in one country outweigh...
Ep 17 - Is The 60/40 Portfolio Dead? 19.01.2026 45:10
This week on the pod Bob and Nelson discuss the death of the 60/40 portfolio, and how so many investors just don't hold bonds altogether. Is this a smart strategy, or are investors who move into 100% equity portfolios taking on too much risk? As always, you can get more Bob in your life by visiting Tawcan , and Nelson can be found at Canadian Dividend Investing .
Ep 16 - Social Media & Investing 12.01.2026 47:07
This week on the pod Bob and Nelson dive into what is always a fascinating topic, just how useful is social media for investors? We go over the numerous pros and almost as many cons and end up at a conclusion that might surprise some of you. Make sure you hit that subscribe button so you never miss another episode. As well, check out Nelson's post about the pitfalls of social media here . Bob...
Ep 15 - Managing Your Risk 05.01.2026 46:53
They say defense wins championships in most sports, and we believe the same is true in investing. Those who worry about the downside ensure they live to see another day, and investing is all about survival. This week on the pod Bob and Nelson discuss risk management by pointing out the various things that mostly new investors are doing to try and maximize returns, get rich in a hurry, or to maximi...
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