Unconventional Wisdom

Do you own a business? If yes, then you'll love my latest podcast episode. I cover the few things that you really need to know about corporations. You'll learn: When should you incorporate. If you should get a holding company. Whether you should pay yourself a salary or dividend. Common mistakes by business owners. If you should invest in a corporation, RRSP or TFSA.

The most common question I get asked about the Canada Pension Plan (CPP) is: "Is it smart to take my CPP early?" And what I say is - it depends, as the answer is contingent on five main factors. How long do you expect to live? How do you invest? What will inflation be? Are you still working? When do you need the money? In my latest podcast episode I get into more details on how to think about these questions and I give you examples from client case studies. The answer is complex and CPP is only one piece of your retirement income. The best advice is to look at this as part of a professional retirement plan.

What will it take for you to become financially free? To have enough money that you never have to work again? This latest podcast episode is my insight into the few key ideas you really need to know. It's an overview to give you the big picture of what really works. Some of these ideas are not conventional wisdom. They are the ideas that give you results over time. I learned these 6 steps from working with more than 1,000 families to create detailed, personal plans for them to become financially independent. I am also a fee-for-service financial planner, tax accountant and expert in a few of the most effective strategies that might help you get there. This podcast is the best 50 minutes of financial education. Some key things you'll learn: What is financial independence? Why you need to understand your inner motivation. Why it's important to get a professional, written Financial Plan. What exactly is "effective investing". What are effective investing strategies? The best way to work with a planning-focused advisor.

It's easy to outperform robo-advisors. Why? Because they don't even try to outperform, they try for reasonable returns with less risk. You would think robo-advisors would just invest in a few broad indexes, but often they don't. And they require you to invest in bonds no matter how high your risk tolerance. Robo-advisors are big investment companies, not financial planners. They're more likely to lose a client because of a 30% one year decline, than 10 years of lagging the index, so they focus on market fluctuations and not your life goals. This post is about performance. How to get the maximum reliable long-term return. It is not about risk-adjusted returns. It's about getting a high enough return to achieve your life goals in your Financial Plan. In my latest podcast episode (under 4 minutes!), you'll learn exactly how to EASILY outperform robo-advisors.

The average Canadian wastes $22,000 after tax during their life for every $100,000 of their mortgage and takes 38 months longer to pay it off, according to a study by Moshe Milevsky. This is because of taking 5-year fixed mortgages instead of variable. They are marketed as being safe and a good protection against a sharp rise in interest rates. The reality, though, is that they are nearly always a huge waste of money, because the interest rate is nearly always higher and you lose your negotiating power for five long years. From 1975-2019, 1-year fixed mortgages saved money 100% of the time. 5-year fixed will probably save money for 5 years starting 2020-22, but it may be decades until next time. That is why we call it the "5-Year Fixed Mortgage Trap". Listen to my latest podcast episode to find out: Why people take 5-year mortgages. What you should do instead. Why being aware of your negotiating power is key.

Smith Manoeuvre or Smith Maneuver? Why the two spellings and which is correct? This strategy (which I'm most known for), helps Canadian homeowners make their mortgages tax deductible in a simple way. What's the proper spelling? Who pioneered this legal strategy? Does it work in Quebec? Can you use it if you live in the United States? All these questions you'll get answered in my latest podcast episode. Listen to find out: Why the Smith Manoeuvre is often misspelled. How the Smith Manoeuvre works in Quebec. The person who pioneered the Smith Manoeuvre. Learn about the history of the Smith Manoeuvre. Why I recommend this strategy to so many of my clients.

Asset Allocation Loss Ratio (AALR) – What Is It & How Does It Help You? When you go to any investment firm in Canada, they require you to sign a risk tolerance questionnaire to prevent you from investing too aggressively. However there are two important questions: What prevents you from investing too conservatively? Can you achieve your life goals with more conservative investments? These are critical questions, since almost nobody can retire comfortably with a typical balanced portfolio with 40-50% in bonds. This is where the AALR comes in. With any financial decision, it's important to understand how it affects your life – both the risk & the return. The Asset Allocation Loss Ratio (AALR) estimates the effect of a more conservative portfolio or suboptimal asset allocation on your long-term investment returns. In my latest podcast episode I give you examples of case studies, as well as the formula for asset allocation loss ratio, so you can determine exactly how you should invest for your future.

I recently did an interview with Bryn Griffiths from 630 CHED radio in Edmonton about how different things can affect people's credit ratings and how to avoid making common mistakes. It's a quick, but important podcast episode, because even a $10 missed credit card bill can cost you hundreds of dollars in interest. Plus how to start or build your credit rating. Enjoy! Ed

Remember the show "Who wants to be a millionaire?" Are you the kind of person that wants to build some serious wealth? Live an exceptional life? Be financially free? I don't mean just a comfortable amount. I mean a lot – like being a multi-millionaire. The truth is, average people can become very wealthy just by managing their money for maximum growth. In my latest podcast episode, I introduce you to The "Rempel Maximum" and the 5 steps to becoming a multi-millionaire. This is a process to build as much wealth as you can in a solid, reliable way. The Rempel Maximum is the quest to find the methods most likely to build wealth reliably. It is best to think of it as a concept – a set of tools, not a recipe. Do none of it, a bit, or the amount you are comfortable with and that will give you the life you want. Enjoy! Ed

It is easy to outperform index investors. Why? Because they don't really try to get index returns, they try for reasonable returns with less risk. This makes them use "performance drags" that typically reduce their returns by at least 1-3%/year. In my latest podcast episode (which is under 3 minutes!), you'll learn exactly how to EASILY outperform index investors. Enjoy! Ed

How should you invest your money? If you don't invest wisely, it will be hard to fund your future. There are always new areas you can put your money into, but are they worthwhile long-term? In my latest podcast episode, I look at all the possible areas to invest your money and fit them into 4 categories: gambling, speculating, saving, and investing. Knowing the expected return & risk for each will help you decide what's the most reliable for you to be confident in your future. I specifically talk about: The difference between gambling, speculating, saving & investing. What are meme stocks, NFTs, cryptocurrencies? Meme stocks, NFTs, cryptocurrencies, lotteries, futures, options, rental properties, bonds, GICs, dividend stocks, equities. Where do they all fit? How high do long-term returns need to be to be considered an investment? Odds of making money in the stock market with day trading and short-term investing. How the stock market can be gambling, speculating, saving or investing. How to be confident you are investing effectively.

Financial freedom is what we all want. We talk to people about their finances all the time and most people just want to know that their money is there, and they can live their life the way they want, but very few Canadians actually get there. Why? Most Canadians are not financially secure because of sub-optimal investments and focusing on the wrong risk. In my latest podcast episode I'm going to show you how to outperform all these methods: How to easily outperform financial advisors, robo-advisors, and index investors. Why is good performance important for your life? What rate of return do you need to become financially independent? What are the 4 performance drags that reduce investment returns? What is the Asset Allocation Loss Ratio (AALR)? Why is it easy to outperform financial advisors? What is wrong with the investment industry definition of "risk"? Why is it easy to outperform robo-advisors? Why is it easy to outperform index investors? How can you learn to think properly about investing? What are the secrets to outperforming?

When you're planning for your future you need to have a sound investment strategy, that gives you confidence that you'll eventually have the retirement that you'll want. The best way to understand this is with a hockey analogy. Would it be more effective for me to go on the ice and stickhandle and shoot, or for me to pick an NHL superstar to play for me? I learned that it is much more effective to study & hire the top investment managers, than to try to be one. The stock market is much more complex than people think it is. Our process is hiring the world's best investors to invest for us. We call them "All Star Fund Managers". We think this gives our clients the best chance to achieve their goals. In my latest podcast episode you'll learn: What I mean when I say the term: "All Star Fund Manager". Characteristics of an "All Star Fund Manager". Why you want to pick a fund manager who invests very differently from the index. Why it's important to look at quality when it comes to paying for fund managers. Why Ed Rempel invests with the same fund managers that we recommend for our clients.

Do you feel financially secure? What would it take for you to build a huge nest egg to become financially secure? Conventional wisdom says it's mostly about investing better. It suggests you should focus on getting a higher return or lower fees. My experience, though, is surprisingly completely different. I have seen the full finances of thousands of people. The ones focused on investing usually had small portfolios. I call these people "performance maniacs". Typical portfolios I have seen are usually under $200,000. By comparison, when I meet people much less interested in investing with mutual fund portfolios and working with advisors, they tend to have much larger portfolios of $300,000 to $1 million and often much larger. A comprehensive study by CIRANO showed people with advisors had 4.2 times more financial assets - after adjusting for age, income, gender and almost 50 other factors. In my latest podcast episode you'll learn: 2 things you must focus on to achieve financial security. 4 key positive traits of people who work with financial advisors. Why financial planning – not investing – is the key to financial security. Why having a retirement plan is a huge factor in both achieving financial security and having a large nest egg. 9 benefits of having a financial plan.

The RRSP Gross-up Strategy is a relatively simple concept that can help you contribute 40-70% more to your RRSP, without using any more of your cash. Do this every year and you can retire with 40-70% higher income for life! The last podcast was quite detailed, while this episode is a quick and concise overview of the strategy. In my latest podcast episode you'll learn: The 3 tax refund options. What is the RRSP Gross-up Strategy? What you need to know before you start this strategy (facts & figures). 6 factors for your optimal RRSP contribution. The RRSP Gross-up Formula. The RRSP Catch-up Strategy. An RRSP Catch-up Strategy example. The RRSP Catch-up Strategy result. RRSP Catch-up + RRSP Gross-up.

Wouldn't it be great if you could save a lot more for your future without affecting your day-to-day cash flow? One of the main things you learn from your retirement plan is that you need a lot more to retire comfortably than you may have thought. But with all the day-to-day expenses, it can be difficult to find the money to contribute as much as you would like to your RRSP. The RRSP gross-up strategy is a simple strategy that can be a game-changer for you. It can enable you to easily contribute 40-70% more to your RRSP – every year. The strategy works if you already expect a tax refund. If you contribute monthly to your RRSP or have various tax deductions or credits, you probably expect a tax refund. The RRSP Gross-up Strategy can be an even bigger life-changer if you have lots of RRSP room. Canadians have nearly $1 trillion available contribution room. It is smart to gross-up every RRSP contribution you make. In my latest podcast episode you'll learn: Why contribute to your RRSP? What is the optimal amount for you to contribute? How contributing 40-70% more can be life changing. What is the RRSP Gross-up Strategy? Real life examples. RRSP Gross-up formula. How to estimate your tax refund accurately. What is the RRSP Catch-up Strategy? How to combine the RRSP Gross-up + RRSP Catch-up Strategies.

Are you a parent? If yes - you're probably paying a lot more tax. Parents are often in higher tax brackets than non parents. This means your planning must be diligently looked at, as it can affect your RRSPs, deductions, and more. I've talked about this topic before on my blog, but this is the updated version. In my latest podcast episode you'll learn: Why are effective tax rates higher for parents? Does the higher tax bracket for parents really start at only $17,000? How does the Canada Child Benefit (CCB) work? Why is the CCB clawback a game-changer for your tax planning? What are the benefits and how much is the clawback? What tax rates apply for parents? Why do parents benefit more from RRSP contributions? Why do parents benefit more from the Smith Manoeuvre? Why should parents avoid dividend-paying stocks? How does staying home with your kids affect your tax?

If you're investing in equities, you may be using various investment data software like Morningstar. The problem? Investment data often gets misused. This is because you may be looking at short-term stats and ratings from only the last 1-5 years. It takes a lot of effort looking at investment stats, but most people who do this incorrectly, don't get good returns. In my latest podcast episode, you'll learn how to look at long-term data and how to use investment data effectively. Why do good investments have bad stats & ratings sometimes? Why do investors that use investment stats & ratings usually have lower returns? How do investment stats affect your behaviour? How the Dunning-Kruger effect happens when investing. How can you use investment data effectively? Common investing mistakes to avoid. Ed's unconventional wisdom on using investment stats effectively. How does a Financial Plan change how you use investment stats? Why it's important for your financial planner to study fund managers. How fund managers often beat the index.

5 Steps for You to Become Wealthy One of the really cool things about my job is that I get to meet a lot of wealthy people. I get to see what kind of people they are and what their life is like. What I find really rewarding though is to take people whose lives are struggling or just regular income earners and put them on a path to become wealthy. In my latest podcast episode I'm going to answer the most common questions I get about creating wealth, and how YOU can become wealthy. You'll learn: What is a wealthy person? How much do you need to be wealthy? Do you want to be rich or wealthy? Do most wealthy people inherit or make it themselves? Are wealthy people happy? Do wealthy people worry about money all the time? How do you define "wealthy"? How to create your personal definition of wealthy. 5 steps for you to become wealthy.

Is your mortgage tax-deductible? The Smith Manoeuvre is an elegant strategy to invest for your retirement without using your cash flow. You borrow against your home to invest for your retirement. It converts your mortgage over time into a tax deductible credit line. The Smith Manoeuvre is very effective as part of your retirement plan. It typically doubles your retirement portfolio. To do it the right way, there are three key points: You should not take monthly income from the investments. You need to do it for the right reason. And you need to choose the right strategy. In my latest podcast episode you'll learn: The 7 different Smith Manoeuvre strategies. Why would you choose to do the Smith Manoeuvre? How to deal with the risks of the Smith Manoeuvre. How the Forbes 400 richest Americans made their money (hint: most borrowed to invest)!

You have probably seen many articles Tax-Free Savings Account (TFSA) vs. Registered Retirement Savings Plan (RRSP). Here is the real answer specifically for you from a tax expert. Deciding on the right one is an important part of your financial plan. Your personal Financial Plan should include the income per year you will need after you retire to have the retirement lifestyle you want - and the amount you will need to contribute to TFSA or RRSP per year to achieve it. In my latest podcast episode you'll learn whether to invest in a TFSA or a RRSP, and why looking at your marginal tax bracket today compared to when you withdraw after you retire, is paramount. You'll also discover: The real answer for RRSP vs. TFSA specifically for you. Why you might be in a higher tax bracket after you retire than before. How the 3 clawbacks of government pensions affect your income tax bracket. How what you do with your refund affects RRSP vs TFSA. What about non-registered investments? How to plan for a tax-efficient, comfortable & worry-free retirement.

Dividend investing is a brain fart! The entire concept is your brain playing tricks on you. I know that thousands of people like dividend investing. In fact there are hundreds of blogs dedicated to it. Dividend investing may sound like a solid and steady way to invest. But it's a brain fart! In my latest podcast episode you'll learn: Why is dividend investing a brain fart? Why a dividend = selling shares. Why a reinvested dividend = No dividend. Why dividends are not new money. Fact check: Logic errors of dividend investors. What is the difference between a dividend & selling shares? Why dividends are a payment frequency. How can we get out of the Brain Fart? How can you perfect dividend investing? What are self-made dividends? How to invest effectively for "Income". Why are self-made dividends a perfect fit for your life?

What's important about money to you? Understanding how you feel about money is the first step in an effective financial plan to create the life you want. Money impacts so many aspects of your life. How you handle it, save it, and spend it can say a lot about you. There are some common themes in how people feel about money, and what it means to them in both their everyday life and in regards to their long-term goals. Some people associate money with security or peace of mind, while others think about fun, happiness, self-confidence, independence or freedom. Knowing what money can do for you, and the values you have for your life, is vital to create an effective financial plan . In my latest podcast episode, you'll learn about the different ways people feel about money, and how emotions may dictate how you spend and save. Discover your own roadmap to the life you want (not someone else's), and why your financial plan is really a life plan.

As we look forward to the holidays and 2024, one thing I know for sure is: "The World is Getting Better All the Time". Every generation of young people thinks the world is getting worse, but the world is dramatically better in every important way than 100 years ago. For example, 170,000 people are lifted out of extreme poverty every day for the last couple decades. On average globally, humans have better technology, are richer and live better lives all the time. I believe we should go into 2024 with the optimism that it is part of the long-term trend of "The World is Getting Better All the Time". A few decades from now, the world will be dramatically better than today – like always.

You probably think credit card interest is pretty high. It can be far higher than you think! If you or your kids ever do not pay your credit card balances in full by the due date, this is the video to watch. Credit card debt is the single most common place where Canadians get stuck, which can create havoc with your finances (and future). In my latest podcast episode you'll learn: What is the small print "Gotcha" in credit card interest? Why credit card effective interest rates can be astronomical. How to eliminate credit card interest. Why you need an emergency plan, not an emergency fund. The wholesome way to think of credit cards. How to live within your means. Why budgeting is tough and how to do it. Why eliminating credit card interest is worthwhile.

Can You Be Confident in the Stock Market? There are two schools of thought on this question. The stock market is a decent investment, but it's a gamble that may or may not make money for you. The stock market is a reliable long term investment that should be the core of your future financial planning. Most investors are scared of suffering a major loss, so they invest conservatively for lower risk & lower returns. Are conservative investments more reliable than the stock market? If you invested 100% in the stock market and held it long term, what are the odds that you would have strong growth over time? In my latest podcast episode you'll learn about the historical returns of the stock market and discover how many years you'll need to invest in the stock market to be confident of a strong investment gain.

You should open up an FHSA Account this year! This is for you if you don't own a home now or in the last four years and are age 18 - 71. You get contribution room starting the year you open your FHSA, but if you wait until next year you lose that room. The deadline is December 31. An FHSA Account is the # 1 way to save for a home down payment if you buy within the next 15 years. You get a tax deduction for contributions, and withdraw tax free to buy your home and you don't have to repay it. More reasons in this podcast.

Financial freedom. It's what we all really want. The question is: how do we get there? One key component to achieving financial freedom is creating a retirement plan. Building the nest egg you need doesn't happen on its own. Most people only save enough to get 20-30% of the investments they need for the retirement lifestyle they envision. Creating your retirement plan can be fun. It makes you wealthier. It's not about your money – it's about your life. This article is one of the Must Read posts on my blog. It originally appeared in MoneySaver Magazine. Listen to the podcast episode to learn: How investing in the stock market can close the percentage gap. Why it's important to educate yourself on equity investing. 4 key steps to creating a retirement plan. Why you need to define the retirement lifestyle you want. How to determine your "magic" retirement number. The easiest way to calculate how much you should invest. 4 options for creating a doable retirement plan.

How much do you need to be financially independent? That is just one of the many questions posed by Kornel Szrejber of Build Wealth Canada. He recently interviewed me for his podcast, where I go into depth about financial planning practices I use with my clients, as well as complex tax questions. Listen to the podcast episode to learn: How much you need to be financially independent and retiring with the lifestyle you want, along with the process to figure this out. Sustainable withdrawal strategies that you can use to not run out of money when you're living off your investments. How to pay less tax here in Canada. If Ed has ever used some type of variable withdrawal strategy with his clients where the amount withdrawn every year varies depending on how the markets did that year. If Ed has done any sort of variable withdrawal strategies using a spending ceiling and floor for the year. For those that don't feel comfortable going with 100% equities, what Ed recommends. The process and calculations to ensure that you are withdrawing a sustainable amount from your portfolio every year. Why it's important to work one-on-one with a financial planner. How to properly set up your portfolio and manage your income when you retire.

Invest a Lump Sum or Bit-by-Bit. Which Is Smarter? You have a lump sum of cash and you're trying to figure out how to invest it. The stock market seems pretty turbulent at the moment, so you may be wondering if you should invest your lump sum all at once or bit-by-bit. Maybe you got a big bonus, a lump sum from Smith Manoeuvre, or a large amount of money to invest. What to do? In my latest podcast episode, you'll learn the pros and cons of both strategies, so you can decide what's right for you. Discover dollar cost averaging (industry jargon for investing bit-by-bit). How to beat the index with dollar cost averaging. The pros and cons of dollar cost averaging. How often should you invest bit-by-bit? Should you trust your gut when investing? What does conventional wisdom say about dollar cost averaging? Studies of investing with a lump sum vs. bit-by-bit. How often does the stock market go up? What growth focused investors do. What is the right and wrong type of risk? What is smartest for people with a Financial Plan? What is Ed's advice?

I've talked with thousands of Canadians that will not have the life they want because their advisor gave them bad advice. Why do they stick with their advisor? I've heard it over and over again. They say: "because he's a nice guy". The advice here is, you need a competent advisor & real advice, not a nice advisor. A competent advisor might be really great to work with too, but this is the type of advice you need, so you should beware of who you trust with your finances. In my latest podcast episode I give you ideas on how to discover if you're currently working with a "nice" advisor, and what type of financial advice you really need for a successful and secure retirement. Listen to find out: How does a "nice" advisor kill your financial future? Signs you got caught up in the "nice" advisor trap. What's wrong with staying with a nice advisor? Why don't advisors give real advice? What is real advice? Why does everyone need a Financial Plan? Top 4 reasons for not getting a financial plan. Benefits of having a financial plan.

How can you get above index returns? Index funds and ETFs deliver below index returns. With global equities, their returns are typically 0.5 or 1% below the index. So how can you beat the index? In my latest podcast episode I offer two paths to achieving above index returns. You'll also learn about: How to identify All Star Fund Managers who beat the index based on skill. How most people pick funds vs the skilful way to do it. The best way to identify the skill of a fund manager. Why Ed's skill isn't in predicting funds, but in choosing the right fund managers. How many fund managers Ed Rempel's team has chosen who have beaten the index. Why you want to work with the Tom Brady or Warren Buffet of investing.

Optimism is the Only Realism. You'll learn why in my latest podcast episode. I feel compelled to talk about optimism for two reasons: 1/ Optimism is absolutely necessary for financial success – effective investing and financial planning. You need to feel you will be better off in the future you are building and you need to be confident in your investments long-term. 2/ Many young people are pessimistic today. They believe the world is in decline because of issues like climate change, and that the world is unfair with inequality. Listen to this podcast episode to find out: The beauty of capitalism. Putting climate change into perspective. Benefits of a free market. Reliability of the stock market long-term. A book I recommend, which proves the world is getting better every decade.

Can you fund your retirement from your corporation? That's the question I answer in my latest podcast episode specifically for business owners, where I go in-depth into tax planning & efficient investment strategies when owning a corporation. It may seem complicated (if you're talking to your accountant), but this podcast episode breaks down basic and advanced principles, to make it easy for you to effectively use your corporation as part of your retirement plan. Listen to find out: Why you should invest inside your corporation. Is investing inside your corporation better than RRSP or TFSA? How investment income is taxed in a corporation. Simple rules for tax-efficient investing. Advanced investment strategies. Common mistakes by business owners. Retirement planning for business owners.

Many people who work with us to figure out their retirement plan, have created a financial plan before. You can get a financial plan from a bank, online methods, financial advisor or fee-only financial planner, but often these financial plans fail. They do not give you the life you want. In my latest podcast episode, I outline what is wrong with most financial plans, how we create retirement plans with our clients, and exactly what you need to be confident in your future. Listen to find out: How do we know most financial plans fail? What exactly is a retirement plan? Common bad assumptions. Why bad assumptions are used. Why you need a growth mindset. Risk of a Fear-Based Mindset. Generic plan vs. custom plan. Importance of confidence in your plan. "One option plan" problem. How an "interactive financial plan" gives you confidence. "Interactive Financial Plan" Process. Why you need a higher risk tolerance.

You want to retire soon. What is the best way to set up your retirement income to give you the maximum income that will reliably last the rest of your life? Many financial planners have come up with 5 rules of thumb when it comes to retiring. They appear to be common sense and are usually accepted without question. However, are they really good advice? In my latest podcast episode, you'll find out: The 5 rules of "conventional wisdom". Advice typically given to seniors. Ed's analysis of these rules after studying 146 years of investment history. Ed's rules of thumb that he personally recommends to his clients. How to use the 4% rule depending on your investments. How to properly set up your portfolio and manage your income when you retire.

The Canadian Financial Summit is the #1 personal finance event of the year. And we're only one week away! Once again I'll be one of the speakers this year with three talks, and I'll be joined by over 35 other Canadian personal finance and investing experts such as Rob Carrick from the Globe and Mail, Ellen Roseman former Toronto Star columnist, and Jonathan Chevreau from MoneySense & Financial Independence Hub. As a listener of the Unconventional Wisdom podcast, you can get your FREE passes for a limited time here: FREE Pass www.edrempel.com/summit With your FREE pass, each morning, all the talks for the day will be available to you for a few days. If you want to access them forever, you can purchase an All Access Pass for $89. My three talks are: Thursday, October 19: Smith Manoeuvre in a Financial Plan & the New OSFI rules Friday, October 20: Dividend Investing Perfected with Self-Made Dividends All Access Pass Members ($89 upgrade) How to Design Your Retirement Income: An Overview Listen to my podcast episode to get a sneak peak into what I'll be talking about. Some more info about the talks: It's 100% online so you can stream all the talks right from your computer/tablet/phone. You don't need to go anywhere or buy anything. You can forward this to any of your friends to give them a FREE ticket. Here is your Free pass. See you at the Summit! FREE Pass www.edrempel.com/summit

Right now everyone is talking about the economy… Interest rate hikes. High inflation. Out-of-control government spending. Decline in global trade. Possible looming recession. So what do you do if you have money in the stock market? In my latest podcast episode, you'll learn why the economy is not relevant to investing, and how it might be the best time to invest in stocks. Listen to find out: The actual correlation between the economy and stock market. The stock market vs. GDP by country. Why the economy is NOT relevant to investing. How you should be thinking about stocks. Warren Buffet's take on the stock market. Why it's a good buying opportunity in the market right now. What makes an All Star Fund Manager?

Financial Planning is not about the money itself. It is about what the money will do in your life. A plan is not a bunch of numbers – it is about your life. Our clients find that our planning meetings are actually fun. For example, we ask clients: "What's important about money to you?" The #1 & #2 answers we get are security and freedom. They want to know there will always be enough income for their family, for emergencies, or for things important to their lifestyle. Or they want to know they can be free to enjoy life without having to worry about money. A plan can help you and your family achieve financial security. This podcast episode will highlight why you DO NOT get financial security by paying off debt and safe investments. It comes from having a huge nest egg. You'll learn: The meaning behind a "Zero Plan". How to think about investing for success. The strategy my company uses for long term growth. Why we invest with "All Star Fund Managers".

In my latest podcast episode, I give you insight into what I advise my clients and why I declare the death of bonds as an investment. It's time for most investors to stop investing in bonds. Including balanced funds. Here are just some of the topics I cover: Recommended investment strategies for high-yield returns. Why you can't retire comfortably with a balanced portfolio. The attitude of successful investors. How the investment industry looks at the stock market. Conventional wrong beliefs about bonds. A balanced portfolio vs. an equity portfolio. Two secrets to making money in the stock market. How to evaluate your skill of risk tolerance.

Dividend investors, would you like to make higher returns, pay less tax & simplify your life? Would you like to receive dividends of any amount you want from your non-registered investments, and pay less tax than on ordinary dividends? You can easily do this with a little planning and proper understanding of investments. Self-made dividends are a simple concept with profound benefits. Dividend investing has been very popular recently, but self-made dividends are better than ordinary dividends in every way. They have lower taxes, better investment options, and are much more flexible for giving you income when you need it. When clients retire and we set up the retirement income they want, self-made dividends make the process easy and usually save a lot of tax. Self-made dividends are a perfect fit for your retirement plan. They fit your life. Listen to my latest podcast episode to find out: What are self-made dividends? How do self-made dividends work in a retirement plan? The 3 big risks of dividend stocks. The meaning of "clawed back" and "grossed-up" when talking about dividends. The 4 major advantages of self-made dividends. Why you pay less tax with self-made dividends.

While I love living in the Toronto-area - it's a great and vibrant place to spend time, I choose not to invest in Canada. You may not realize that Canada has only 3% of the world's stocks, with mainly small companies with lower growth than global or US stocks. Canada is no longer a growth country. This means that you aren't getting a diversified portfolio, so we choose to invest globally or in the US. For more details on this way of thinking and investment strategy, I've broken it down for you. Listen to my latest podcast episode to find out: What are the most common reasons people invest in Canada? What are the top 10 reasons we don't invest in Canada? How do investment returns in Canada compare to other countries? Is it safer to invest in your own country? Should you invest in Canada for bonds or other fixed income? How does dividend investing compare to self-made dividend investing? How is Canada's economy growing compared to other countries? How can you avoid or minimize currency risk? How can you easily & effectively invest outside Canada?

Do you ever find yourself unsure about what to do with an investment decision? Should you buy now or wait? Is this a good time? Should I buy something safe or invest for growth? You are not alone. Most people struggle with investment decisions because they think short term and do not have faith in the market. This leads them to make the single most common investing error — investing conservatively near the bottom of the market and aggressively near the top. This podcast episode explains how to have the right mindset for investing and how to avoid the single most common investment error. Listen to this podcast episode to find out: The attitude you need to build wealth. One of the most common mistakes people make when investing. How to invest effectively in the stock market. What are the best buying opportunity times in the stock market?

"Financial Quackery" is one of the main reasons most people struggle financially. My latest podcast episode is my attempt at humour to explain what to look for to get real advice, rather than the typical industry foolishness pretending to be advice. Listen to this podcast episode to find out: What I mean by "financial quackery". Why "quackery" happens in the financial planning industry (and how to avoid it). How does "quackery" ruin your retirement plan? How can you get real financial advice? Why a real plan will let you make an informed choice. Is the idea of "one advisor" important?

Do you own a small business or rental property? If yes, then you'll be interested in Cash Dam. It's a simple, but powerful concept to help you make your mortgage tax deductible. It's an especially attractive option if you're familiar with the Smith Manoeuvre or other tax minimization strategies. Cash Dam is a pure tax strategy without investment risk that does not require any of your cash flow. Listen to this podcast episode to find out: How Cash Dam is different from the Smith Manoeuvre. Is Cash Dam legal? How to deduct rental expenses with Cash Dam. Examples of small business owners using Cash Dam. How to implement the Cash Dam Strategy.

Today I'm reflecting on my life and progress towards my mission in life - to educate Canadians about what really works to achieve financial security & freedom. I have seen thousands of Canadians struggle with money. I see bad or suboptimal advice based on conventional wisdom all over the financial industry and to a lesser degree in the financial blog world. I sincerely hope I can influence you to have the financial security & freedom you can have with smart choices and a Plan. Listen to this podcast episode to hear about some of these reflections, recent successes & recognition on Feedspot & Hardbacon, and where you can find my financial planning advice online.

The "8-Year GIS Strategy" is one of the best strategies to turn a modest retirement into a comfortable one for you. This strategy has huge benefits, but requires careful planning. When you retire, get up to $15,000/year tax-free from the government with effective planning. Typically increases retirement income by 50-100% for life. For years, this is one of a few strategies that I have quietly used with select clients. Listen to this podcast episode to find out: How to maximize this strategy. How much money you will receive (tax-free) after 8 years. Who the highest taxed Canadians are. The advantages of this strategy.

You may have received a letter from your bank or heard people talk about the new OSFI mortgage rules. We've had a lot of our clients contacting us about it as well, since the new rules start this year for mortgages. These new rules will affect the Smith Manoeuvre in some ways, so it's important to understand exactly what you should do. Listen to this podcast episode to find out: What is the Smith Manoeuvre? What are the new OSFI mortgage rules? How will they affect the Smith Manoeuvre? What is the formula in the rules? Examples of the effect. Effect on your monthly investment. Best & worst-case examples. How do you manage the process? How to minimize or eliminate the effect. Effect on Smith Manoeuvre vs. TFSA decision.

This may sound like a dumb topic. Why would a millionaire live in poverty? We see it all the time, though. People living in a paid off home worth more than $1 million while living on an income of $20,000/year before tax. I believe this is caused by the belief that your home is your retirement. Millionaires in poverty have 5 options – all 5 of which are stupid. Listen to this podcast episode to find out: What are the 5 stupid options for Millionaires in poverty? The #1 option we recommend for retirees who own their homes. How to downsize effectively. The BIG mistake in investing. The key benefits of self-made dividends. How to tolerate risk.

If you're under age 40 and saving to become financially independent, the ultimate strategy for you to understand is Lifecycle Investing. It has worked 100% of the time in the last 150 years and increased portfolios at retirement by an average of 63%. Results are so consistent because it reduces one of your biggest financial risks, "Last Decade Risk". Lifecycle Investing is not for everyone, but understanding the concept can change your entire approach to managing your money. Listen to my latest podcast episode to find out: What is wrong with the traditional method of "bit-by-bit" saving. How do you avoid last decade risk? Why you should diversify across time. How Lifecycle Investing can reduce your retirement risk. How to allocate your investments with this strategy. The 3 stages of life with Lifecycle Investing. The 3 different ways to implement Lifecycle Investing.