Unconventional Wisdom

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.

What is the actual risk of running out of money if you start retirement when the market crashes? This is a question on the minds of many retirees. Especially because a lot of financial advisors talk about "Sequence of Returns Risk". But worrying about this can lead to worse results for many retirees, as well as inferior portfolios, lower returns and a less reliable retirement. In my latest podcast episode I'm going to debunk the "Sequence of Returns Risk" and give you solutions, including a dynamic spending rule that I give my clients. Listen to find out: What is "Sequence of Returns Risk"? What solutions are typically recommended? What is the actual risk of running out of money with a bad sequence of returns? Do the typical solutions work? Why don't the typical solutions work? How can you get the maximum reliable retirement income? What should you do if your risk tolerance is lower? What is "Your Personal Rule" for you to use instead of the "4% Rule"? What solution to "Sequence of Returns Risk" actually works? What dynamic spending rules are suggested by actuaries & advisors? What is Ed's dynamic spending rule? How is it customized for you?

If you're someone who is in high school or you're about to apply to university, then this podcast episode is a must! After being a financial planner for almost 30 years, I've seen the finances of thousands of Canadians, and the careers that pay the big bucks. In this episode you'll learn how to choose your university specialty, so that you get into a career that sets you up for success in life. Here's what I talk about specifically: Why it's hard to choose a university specialty. Is a university degree worth the investment? How to avoid wasting your degree. What careers provide you with a successful and comfortable life. 50+ career options that pay well. How to make a smart career choice.

Are your finances where you want them to be? If not, there's a very good chance that one of these 15, or maybe several of them are the underlying root cause. I've seen the finances of thousands of people and these are the principles that I find people most commonly get wrong, that have a major effect on their lives. In my podcast episode you'll learn what these 15 principles are, and how you can follow them to create a life where you are in the driver's seat when it comes to your finances. Listen to find out: Why everyone needs a financial plan. How to understand your values to help you create a financial plan for retirement. What the definition of risk tolerance is for investments. Why stocks are more reliable than bonds or fixed income long-term. Dividend investors usually pay more tax. Why self-made dividends beat ordinary dividends in every way. Why investing in your own country is not safer. What to focus on when it comes to investment returns. Why nobody can retire comfortably with a balanced portfolio. Why you need investment growth after you retire to retire comfortably. How to know if real estate is a good investment. The # 1 secret to building major wealth. Why inflation is a bigger risk to your retirement than a stock market crash. Why you need a growth mindset to make smart decisions. Why optimism is the only realism.

How do you know you're getting the highest quality financial planning advice? I recently asked my social media followers and blog readers what financial topics you would like me to talk about, and we got an overwhelming number of responses – so thank you! We got a few questions about what is the highest quality financial planning advice and about our services and why we do them the way we do. The key thing is – we want you to have the life you want and to make you as wealthy as possible in the long-term. In my latest podcast episode, you'll learn the in-depth way we work with our clients, and how we structure our financial planning services. Listen to find out: Why is a written Financial Plan most effective for you? When should you get your Financial Plan? What are the fees we charge for a Financial Plan? How does the "interactive" Financial Plan process work? Benefits of fee-for-service financial planning. Difference between fee-only & fee-for-service. Why we only offer Financial Plans and Full Service. What is the Highest Quality Financial Planning Advice? 3 Key Principles for being unbiased when you're looking after investments. How have our portfolio managers performed?

In my latest podcast episode I take an unconventional look at dividend investing & how to make it perfect. The episode is a fact check of the advantages & disadvantages of dividend investing. Then I show how to fix all the disadvantages, so you can do it right. You may have already heard of dividend investing, as there are hundreds of blog posts about it and it's something many investment advisors recommend as an alternative to bonds. In the FIRE community there are two camps - people who focus on index investing and those that focus on dividend investing. Find out how self-made dividends have all the advantages of both and none of the disadvantages of dividend investing. Here's what you'll learn: Why is dividend investing so popular today? What are the advantages of dividend investing? Why is tax on dividends a weird formula? Fact check - Are the advantages of dividends true? What are the problems with dividend investing? How can you perfect dividend investing? What are self-made dividends? How are self-made dividends taxed? Head-to-head: Self-made dividends vs. ordinary dividends. Life of a self-made dividend investor vs. ordinary dividend investor. Why are self-made dividends a perfect fit for your life?

The conventional wisdom is that bonds and fixed income are safe investments and you need them to stabilize your portfolio. The truth is bonds are a high risk to your retirement. Understanding the high risk of bonds can be one of the easiest ways to get higher investment returns and achieve your life goals. While bonds are less risky short-term and medium-term, they are actually quite risky as a long-term investment – more risky than stocks. They are less predictable than stocks for periods of 20 years or more after inflation. You will need to adjust your investment binoculars to a long-term focus to see this high risk of bonds. Listen to my latest podcast episode for a history of bonds vs the stock market. To fully understand this framework, please visit my blog post with much more detail on the topic here: https://edrempel.com/high-risk-of-bonds/

Is your money safe OR secure? I know what you're thinking. Isn't it the expression "safe AND secure"? Possibly the single most important thing to know about money is this: Safe and secure are often opposites. With money, it's usually safe OR secure. In my latest podcast episode you'll learn about two identical twins - Summer and Autumn with the same amount of money in the beginning, and how their investment strategies differed over the years. One had a growth focus to life and money, while the other focused on security. Because of their different mindsets towards life & money, one could retire early, while the other had to wait. Listen to find out each of their life paths and how you can make your money work for your future.

Have you ever wondered how people donate millions to a charity, like to a large hospital, or have their name as a charitable foundation? Do they actually give away that much money? Or, do they have a method to do it? The truth is - it's often an effective tax plan that people use to donate 10 times more, and it's called the Donation Flow-Through Strategy. In my latest podcast episode I'm going to teach you this strategy, so you too can become a philanthropist, without giving away a lot of money. Listen to find out: Why am I talking about donations when the cost of living is so high? What if $5,000 would give you a $50,000 donation to a cause important to you? What is a "flow-through share"? What is the "Donation Flow-Through Strategy"? How does it work? Who does it work for? How big or small a donation does it work for? Can you use a holding corporation for it? What creative tax strategies can you do? How will the revised Alternative Minimum Tax (AMT) in 2024 affect this strategy? Why is a personal charitable foundation a perfect fit for the "Donation Flow-Through Strategy"? How does a "Donation Plan" benefit you?

How can you own a nice car for a lot less? Should you be impressed with someone that has a nice car? How do you measure the ownership cost of your car? What is a warranty worth? Should you lease or own? Can you save money on an electric car? How does your car fit in your life priorities? You'll learn the answers to these questions in my latest podcast episode, and what I recommend to my clients that want to save money on their car.

There's a sale on stocks today - it's a 10% sale! We have recovered about half of the decline from the bear market in 2022. What does that mean when it comes to buying stocks? In my latest podcast episode I give my thoughts on why I believe now is a good time to buy. This episode was recorded in 2022, but the insights fully apply today. Listen to find out: Why all bear markets are buying opportunities. How to be a successful investor. My perspective on bear markets. The 3 secrets to successful investing. What type of stocks to buy before the market fully recovers.

In my latest podcast episode I talk about the ultimate status symbol and making a real difference in the world. That may sound like two completely different topics, but it's actually one topic and I'm going to show you how to do both at the same time! Here's what I cover: What is the ultimate status symbol or the wealthy? What is a "Generosity Plan" What are the advantages of a personal charitable foundation? What are the tax savings of a personal charitable foundation? What is the difference between a public foundation and a private foundation? How does a personal charitable foundation work? Who can you donate to? How can you know which causes make the most difference? What can you donate, other than cash? What are some examples of effective donations? How can you make a real difference in the world?

Can you really make money while you sleep with little or no tax? Covid changed most of our working habits, in that many people stayed home, while others felt the financial pinch of the pandemic. New paradigms arose, such as creating wealth, without work. Passive income started becoming a conversation not just with people who invest, but with people thinking about retiring or who hadn't even thought about making money this way before. In my latest podcast episode, I talk about all the ways to create passive income, and how to do it effectively & tax-efficiently. You'll learn: What is passive income? Why is everybody talking about it now? The 3 main types of passive income. How to get passive income with little or no tax. Why self-made dividends are better than ordinary dividends in every way. How to save tax with each type of passive income. How to use passive income effectively. How to use passive income as part of your retirement income.

Want to teach your kids or young people you know to be smart with their money? Then you'll want to send them my latest podcast episode with an introduction into the world of finance. There are a million things to know. These are the few important ones, based on my Unconventional Wisdom. Whether you're thinking about buying a car or a home, paying off student debt, or saving for retirement, there's so many things in life to do with your money. My job is to help you think strategically about how to live your life (the way you want), while being able to invest for the future. Listen to this episode to find out: The #1 principle of financial planning. How to decide what is important to you and how to prioritize your life goals. How much "fun spending" is smart. How to save for a home and whether you should. The ultimate financial strategy if you're in your 20s and 30s. What to do if you want to live comfortably or even be wealthy in your future.

Are you poor, middle class or wealthy? After seeing the finances of thousands of people, I've noticed patterns to determine if someone is poor, middle class or wealthy. In this podcast episode you'll learn where you fit along the spectrum of wealth, how each thinks and invests differently, and how you can become one of the wealthy! Here's what I cover: Why wealth isn't a matter of income level. The definition of Net Worth. Do you classify as poor, middle class or wealthy? How each person saves, invests, and thinks about money. The mindsets of poor and wealthy people and how they differ. 5 key traits of wealthy people. How to think like the wealthy.

What do you do with the Smith Manoeuvre AFTER you retire? This podcast episode is for you if you already know the basics of the Smith Manoeuvre. You have been doing this strategy for awhile, you've converted your mortgage to tax deductible, and you're thinking about retiring. You've got a big investment portfolio and this tax deductible credit line, what do you do now? Discover 5 strategies that we suggest to our clients, and how you can implement them to your advantage! Listen to find out: What options do you have for the Smith Manoeuvre after you retire? The 3 options based on your risk tolerance & desired lifestyle. Success rates of retirement income withdrawals. Key tax brackets before and after age 65. 5 Smith Manoeuvre strategies you can do after you retire. Tax implications of Smith Manoeuvre withdrawals. Designing your retirement income with the Smith Manoeuvre

Want to get serious about your finances? Every day I talk to people who come to see me for financial advice because they've come to a point where they realize - "I should probably do something smarter with my money, but I'm not quite sure what." When you get to that point, what do you do? What are the most important things to know about investing? How do you manage your money based on your life goals and priorities? My latest podcast episode is an overview of financial planning to help you figure out where to start, so you can spend and invest your money in smart places based on your values, and what's going to give you the best leverage for the future. Listen to find out: Why you should spend less than you make. Why it's important to pay yourself first. Understanding your values when it comes to money. Why paying off student loans should be the last priority. How to evaluate what's important to you about money. How to live intentionally based on your goals and priorities. How to manage debt wisely. How to save for and buy your first home. The magic of compounding. How to create a retirement goal and financial independence. Why it's important to have a higher risk tolerance. How to invest effectively. Asset allocation - stocks, bonds, and cash. Why borrowing to invest is the secret to major wealth.

If you're thinking of retiring or your parents or friends are retiring, beware of the typical advice you get. In my latest podcast episode, I talk about the 5 conventional wisdom rules of thumb for retirees. As the unconventional wisdom guy, I do the math for you to see whether they actually worked in history. Then I give you 7 new retirement rules of thumb (supported by history) that I advise my clients on. Listen to this podcast episode to find out: How to manage your retirement income withdrawals. Why the real issue is inflation, not stock market crashes. Why learning the stock and bond market history will give you an accurate picture of risks and returns. Why inflation kills bonds, but not stocks if invested in the long-term.

There are many strategies and styles of investing. How do you sort through it all to set yourself up for success with good long-term rates of return? In this week's podcast episode I cover the Top 17 Investment Strategies, their history, and whether or not they actually work. Listen to find out: Are stock prices random? Why is this important? Are stock markets efficient? History of market thought. 17 investment strategies – Do the work? How to identify All Star Fund Managers.

If you're worried about your finances & your future – you are not alone. Many people are worried about their finances. I receive daily notices from people pouring their hearts out about their finances, what they worry about and not knowing what to do on the "Free 30-Minute Consultation" form on my website. They want financial advice on the Smith Manoeuvre, cash flow & debts, investing, and if they are on track to retire comfortably. In my Financial Post articles I look at people's finances to see their situations and if they are set up to retire. And in my practice, I work with my clients with an "Interactive Financial Plan," so they have the confidence to afford the life they want. I want you to have that too! In my latest podcast episode you'll learn: Why you need to be clear on your "why" Why you must be realistic on your investments and goals The importance of planning for your future How the Financial Independence Retire Early (FIRE) community saves money Why you don't need a budget Four options to help you if you can't get you to your retirement goal How to think about Investment returns, equities, stock market and fixed income How to think about diversification and "de-worsification" The details of pensions, CPP & Old Age Security in Canada Why getting professional help with your retirement plan is key How to find out how much money you need to retire comfortably Why you should learn to have a higher risk tolerance The magic of compounding over a long period of time

The Smith Manoeuvre is an efficient strategy using equity in your home to invest for your future, without using your cash flow. It converts your mortgage over time into a tax-deductible investment credit line. Most Canadians are searching for a feeling of financial security, but all the bills and life expenses mean they never build up enough of a nest egg to be secure. The Smith Manoeuvre is a strategy that can help you build your nest egg and make your retirement plan work. As Canada's Smith Manoeuvre expert, check out this podcast episode with an overview of how it works.

Top 10 Money Myths That Block Your Financial Freedom. This is one of my favourite topics. Most ideas that people believe about money are just not true or not optimal. I named my podcast and blog Unconventional Wisdom because my financial advice is about all the things I've learned over the years from my experience writing thousands of financial plans and reading hundreds of books. Mark Twain said: "It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so." In this week's podcast episode I go in-depth on each money myth and debunk them with facts about what works and what doesn't to create wealth in your life. Listen to find out: The Top 10 Money Myths. Myth # 1: Wealthy people have nice cars, homes and vacations. Myth # 2: The economy helps you predict the stock market. Myth # 3: Risk is your investments going down. Myth # 4: Your risk tolerance is part of who you are. Myth # 5: You are "smart money". Myth # 6: Asset allocation is effective investing. Myth # 7: You can reduce risk/volatility, without reducing returns. Myth # 8: Stock market returns are random. Myth # 9: Crypto or Day Trading is effective investing. Myth # 10: Real estate returns are as high as stocks.

Rental property vs. the stock market. What's the best investment? In my latest podcast episode we're going to look at this from the eyes of a growth investor. You'll get a head-to-head comparison with data going back decades. We will discuss topics you won't see anywhere else, including how to save tax on a rental & the effect of leverage on return. Spoiler alert. Effect of leverage on rate of return is huge! And you'll get my rental property rule of thumb! Listen to the episode to find out: How does growth of real estate compare with the stock market? What are the sources of rental property returns? What is the normal return for each source of returns for rentals? How does the total return on rentals compare with the stock market? What are the best and worst types of rental properties? How do you minimize tax on rental properties? Should you deduct depreciation (CCA) on your rental? How do you record the sale of your rental on your tax return? How does the size of the mortgage affect the return on your rental? How do different amounts of leverage affect the returns of rentals vs. stocks? What is Ed's Rental Property Rule of Thumb? What is Ed's general advice on owning rental properties?

Should you borrow to invest? With interest rising 4.5% recently, does it still make sense? Spoiled with low interest rates so low for many years, leverage seemed so obvious with a credit line at 3% and tax-deductible, while getting the growth of the stock market. As a fee-for-service financial planner, and an expert on the Smith Manoeuvre strategy and effective investing, my latest podcast episode will give you my insight. You'll learn: How to borrow to invest ("leverage") effectively. What happened with leverage in past periods of high interest rates? How high can interest rates go & borrowing to invest is still beneficial? Rule of thumb for breakeven point of borrowing to invest. What is the mindset you need to borrow to invest effectively? What is the best tax deduction after RRSP for high income people?

What's new for your 2022 tax return? In my latest podcast episode I'm going to give you insight into what's happening in the Canadian tax world. Get the inside scoop on the "new" items from CRA and those being discontinued. If you haven't done your taxes yet or you're thinking ahead to next year, find out how to get the best tax refund. In this podcast episode you will learn: How today's high inflation affects your taxes. How the work from home (WFH) trend affects tax returns. How to save tax on Covid-19 benefits you had to repay. New tax credits & deductions this year. What deductions & credits are discontinued in 2023? What's the difference between a tax deduction and a tax credit? How to estimate your tax refund from a deduction or credit. How to avoid CRA scams. Effective use of the FHSA - the "Renter's RRSP" coming in 2023. Why are Ed's clients getting such huge tax refunds this year?

Investment advisors and robo-advisors have a massive disadvantage – they are short-term thinkers. You can easily outperform them by learning the skill of long-term thinking. Short-term thinking leads them to select suboptimal investments and focus on the wrong risk. You can clearly see this because nearly all investment advisors and robo-advisors do the "4 Performance Drags" that drag down their long-term performance. Just avoid the "4 Performance Drags" and you can easily outperform them. Listen to the podcast to find out: How short-term thinking reduces long-term returns. What is the "wrong risk" and how does it reduce investment returns? What are the 4 Performance Drags? How to use the 4 Performance Drags to compare popular investment strategies The skill of long-term thinking. Why long-term thinkers easily outperform and how you can learn to think long-term. The secrets to outperforming with stock market investing.

Did you know that how you define risk, can actually make or break your retirement? This podcast episode is a direct head-to-head comparison of two different outlooks on the world and on investment risk. Defining risk is critical to decide the best investment strategy for you. People with the right outlook on risk retire comfortably, while others do not. In my latest podcast episode you'll learn how to think about risk properly, so you can retire comfortably. This topic is a really important topic for you to understand and one I'm really passionate about. We care about our clients too much to kill their future with the normal financial advisor methods. Listen to the podcast to find out: How does the investment industry define "risk"? What is "investment risk that affects your life"? What is wrong with the investment industry definition of "risk'? How does this difference affect your investment strategy? How does thinking properly about risk help your retirement? Why do almost no Canadians retire with their desired retirement? How can you learn to think properly about investment risk? The risk tolerance questionnaire and mistakes most financial advisors make. How to be successful in retirement. The good and bad news about financial planning. How much to invest in a balanced portfolio. The long-term risk of stocks vs. bonds. How inflation increases your risks in your retirement plan. How your Interactive Financial Plan clearly shows how investment risk affects your life.

You may have heard of FIRE, which is Financial Independence Retire Early, but how do you actually get there? How do you LIGHT your fire? You do it with Lifecycle Investing. It's the #1 wealth-building strategy for young people to retire early. This investment strategy is based on a concept by two university professors who wrote the book of the same name. It has worked 100% of the time in the last 150 years and increased portfolios at retirement by an average of 63%. In my latest podcast episode I explain this strategy in detail, and how it can help you retire early. Listen to the podcast to find out: The 3 stages of Lifecycle investing. Why this strategy is so popular with millennials. How "diversifying across time" is the reason it works so consistently. How many years you should focus on this strategy for it to work. The true meaning of last decade risk. How to borrow to invest big.

Inflation is now the #1 fear with "6 in 10 Canadians concerned they might not have enough money to feed their family", according to an Ipsos poll. Most Canadians have never experienced high inflation. It has been flat at 2% for 3 decades, but now jumped to 8% in 2022, and is now down to 5% in 2023. Many people are asking me what is going on and can I give them some context. Looking at inflation in the past is very helpful to understand what is happening today. In my latest podcast episode you'll learn: Why is inflation scarier than a market crash? How do inflation & market crashes affect your retirement plan? Inflation history - the similarities between current inflation and the 70s and 80s. Factors that are contributing to inflation. Low unemployment and worker shortage. What is stagflation? Bank of Canada's role in lowering the inflation. Ways to solve inflation Should we be worried? How long will it last? How can we fix inflation?

I was interviewed by Isabelle Docto from Daily Hive on the "Best Ways to Get a Bigger Tax Refund". She asked two really interesting questions that didn't make it into the interview, so I thought I'd answer them in this podcast episode. The questions are: How can you get a very large tax refund? Are there any other tips and tricks people should know? Please check out the original article here: https://dailyhive.com/canada/best-ways-bigger-tax-return Listen to the latest podcast episode to find out: How to get large tax refunds through borrowing money to invest and RRSP strategies. RRSP Gross-up + RRSP Catch-up Strategies. How to maximize your RRSP room. Why borrowing to invest gives you a big tax refund. What is the "Renters RSP"?

You may have heard in the news recently about the Silicon Valley Bank collapse. Here is a simple explanation with stories so anyone can understand why it collapsed. Could this happen to our Canadian banks? In my latest podcast episode, you'll learn all about bank collapses and the best way to protect your money. Three reasons why Silicon Valley Bank collapsed. 1980s story showing how matching maturities works. Beverly Hillbillies explain why no bank is safe. How social media makes your bank less safe. What is a "bank run"? Wisdom from the musical "Hamilton" that Silicon Valley Bank didn't follow. Can CDIC make your money safe? Can government regulations make your money safe? What are "capital requirements" and do they make your money safe? Is your money safe in a Canadian bank? Have Canadian banks failed? Understanding different kinds of risks.

There is a brand new type of account in Canada coming out in April 2023. It's called Your First Home Savings Account (FHSA) aka The "Renter's RRSP". You may know about RRSPs & TFSAs, well this is the third one, and it's worth knowing because for many people, this is going to be the best place to put your money. It's also the # 1 way to save for a home. In my latest podcast episode, I give you the top 15 hacks to get the maximum benefit from this new account, so that you can save money not just for a home, but for other purposes as well. Listen to this podcast & you will be an FHSA expert. Find out: What is an FHSA? Why were FHSAs created? The #1 way to save your down payment. Why are FHSAs called the "Renters' RRSP"? Why you should open one this year even if you are not yet saving for a home. What's the difference between an FHSA and the RRSP Home Buyer's Plan? Should you contribute to your FHSA, RRSP or TFSA? Should you claim or defer the deduction for your FHSA contribution? What's the difference between an FHSA and a virgin? (1st FHSA joke) Why FHSAs make a great gift for your spouse or kids. FHSA uses for self-employed business owners with a corporation. The FHSA hack for the GIS Strategy for retirees. FHSA uses for non-residents. How to contribute $2,500 more to your FHSA with "FHSA Top-up Strategy". What to do if you have no extra cash flow to invest