Unconventional Wisdom

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

If you've been following me for a while, you know I'm a financial planner with unconventional wisdom based on experience. In this podcast episode, it's your turn to ask me your burning financial questions! What topics would you like me to tackle? What money issues do you think about? Many bloggers struggle with figuring out topics, but I have the opposite issue - too many topics! What topics are most interesting or relevant to you? After writing thousands of comprehensive Financial Plans for clients, I have deep insight into what really works, and I'd love to help you.

If there is one podcast episode you should listen to of mine – it's this one. It is my underlying outlook on life and financial planning. This is the outlook that leads to financial success. In my latest podcast, you'll learn about the differences between a fear-based mindset and a growth mindset, and how wealthy people look at the world. Listen to find out: Why you need a growth mindset. How a growth mindset benefits you. How fear-based people mess themselves up financially. The risk of conservative investments in different retirement plans. What people with a growth mindset do. 7 key traits of people with a growth mindset.

With so much advice on retirement, sometimes it's hard to know what to do. How do you put all the details together to get the retirement income you want with the minimum lifetime tax? Quite a few people asked me questions about retirement income in response to my last video. In my latest podcast episode, you're going to get an overview where you'll learn the "Big Picture" thinking into designing your whole retirement income in one shot! This is a "must listen" to understand the key concepts when it comes to this topic. Listen to find out: The "Big Picture" of how to design your retirement income. How do you know when you've reached financial independence? How much can you withdraw from your investments and have them last for life? How much do you take from each income source? How do you design your retirement income? What are the key concepts to understand about retirement income? What are the three retirement income design strategies? How do you decide which strategy is best for you? An overview of when to start RIF, CPP, OAS and pensions, etc. What do you do with Smith Manoeuvre or leveraged investments? Should you commute your pension? Should you worry about high tax on your estate?

Is your mortgage tax deductible? You know the basics about the Smith Manoeuvre. This podcast episode is about the practical issues you may run into and how to maximize the benefits. We are Canada's Smith Manoeuvre experts and have helped thousands of families implement it. Many "Smith Manoeuvre experts" just offer you a mortgage and leave you to implement it. We are the fee-for-service financial planners that implement it and work with you over the years. We know from experience exactly how to maximize the benefits: Why do the Smith Manoeuvre? Do it for the right reason. Comparisons of people's retirement plan with or without the Smith Manoeuvre. My recommended readvanceable mortgages (and the banks to get them from). How to keep your credit line 100% tax-deductible. The 8 Smith Manoeuvre strategies. Which is right for you? Have the right mindset to avoid the risks.

In this week's podcast I'm interviewed by Kornel Szrejber, founder of the Build Wealth Canada podcast and website, and host of the Canadian Financial Summit, the #1 personal finance online event of the year. Kornel runs the #1 personal finance podcast in Canada & the Canadian Financial Summit. He has been getting advice from me for awhile when it comes to financial planning and tax-related questions. We focus on questions related to my practice, which I think you'll find helpful, if you're curious about working with a financial planner. Listen to find out: How does getting a Financial Plan help you? Why you need more money than you think for retirement. Why work with Ed Rempel & his team vs other financial planners? What methods & strategies Ed provides that other advisors & robo-advisors don't. How can you reach your desired retirement more easily? If someone is thinking of getting a Financial Plan but not sure what to do, how can they find out? What is it like to work with Ed's team as a Full Service client? How can you find out more about working with Ed and his team?

My name is Ed Rempel CPA, CMA, CFP. The main Wise Guy on this podcast. I am a financial blogger, fee-for-service financial planner and tax accountant with a ton of real life financial planning experience. I love sharing my insights from experience. Unconventional Wisdom is the #1 blog in Canada for a full service financial planner for a reason. It's not the usual yada yada. It's unbiased insights from experience on what really works. What really works is rarely conventional. Here you will learn how to achieve security and freedom.

Welcome to the Unconventional Podcast with Ed Rempel.