The Smith Manoeuvre is an efficient strategy to use your home equity to invest for your future without using your cash flow, while converting your mortgage into a tax-deductible debt. If you do the Smith Manoeuvre, understanding the new OSFI mortgage rules is crucial. In this podcast episode with Barry Choi, I break down what the changes mean and how they impact your strategy. You’ll learn: What is the Smith Manoeuvre? What are the new OSFI mortgage rules? How will they affect the Smith Manoeuvr...
Sep 19, 2024•35 min•Season 2Ep. 42
With the Canadian Financial Summit coming up at the end of October, I wanted to share over the next few weeks content that Summit attendees had access to last year. When you register you get access to talks like these, plus a myriad of other speakers who are some of Canada’s top financial experts. I’ll be promoting the Summit and giving away free tickets too! // When it comes to retirement, it’s crucial to get the big picture right before diving into the details. Setting up your retirement incom...
Sep 12, 2024•54 min•Season 2Ep. 41
Most people struggle with money. It might feel like you’re the only one who doesn't have it all figured out, but trust me, you're not alone. Over the last two months, I've had countless conversations with individuals just like you who are grappling with various financial concerns. In my latest podcast episode, I share 25 common worries and questions that I have been asked just in the last couple months, plus you’ll learn the four things a financial plan can do for you....
Sep 05, 2024•6 min•Season 2Ep. 40
Here are three key insights that I believe are essential for navigating the rest of the year and beyond. These insights are grounded in the principles that have guided our successful financial planning and investment strategies. The three key areas: Some timeless truths that guide our financial planning, a few observations on the markets so far this year, and an update on what we’re doing in our practice to keep you on track toward your financial goals. In my latest podcast episode you’ll learn:...
Aug 22, 2024•6 min•Season 2Ep. 39
Many people are saving for their kids’ future education costs in an RESP. For some parents, it is a higher priority and they want to be able to maximize the benefits of an RESP - not just contribute the standard $2,500/year for each child. In my latest podcast episode I talk about the five hacks to maximize your child’s RESP. You’ll learn: How much might a 4-year degree cost in 18 years? Is it good for your child to pay for their education? What asset allocation is best to maximize your child’s ...
Aug 08, 2024•27 min•Season 2Ep. 38
The Smith Manoeuvre has long been a popular strategy for Canadian homeowners seeking to convert their mortgage debt into tax-deductible investment debt. However, recent tax and regulatory changes have impacted the efficacy of the Smith Manoeuvre, and further changes from the Liberal government could pose additional challenges. In my latest video I give an analysis of the current landscape and potential future threats to this investment strategy. You’ll learn about: The recent changes impacting t...
Aug 01, 2024•19 min•Season 2Ep. 37
Have you ever wondered how long you might live? Understanding life expectancy is crucial for planning a secure and fulfilling future. In my latest podcast episode I explore the dramatic changes in life expectancy over the past century, why it's expected to continue increasing, and how this impacts your retirement planning. You'll learn: Has life expectancy actually doubled since 1900? How fast life expectancy is increasing. Why life expectancy is expected to increase. How long you can expect to ...
Jul 18, 2024•10 min•Season 2Ep. 36
Deciding between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP) can be one of the most challenging financial decisions you'll face. Each has its benefits, and the right choice depends on your unique financial situation. In this post, I'll guide you through understanding the factors that determine whether a TFSA or RRSP is better for you and how a financial plan can provide you with the precise answer. In my latest video I talk about: The secret to minimizing yo...
Jul 11, 2024•18 min•Season 2Ep. 35
How long should you expect to be retired? You want your money to last the rest of your life. How long will you live? What quality of life will you have? What will your lifestyle cost you when you are older? What if you could: Live longer (long lifespan). Be healthy longer (long healthspan). Have financial freedom longer (long wealthspan). In my latest podcast episode I talk about: Why it's smart to plan for a longer life. New thinking in medicine to help you live long & be healthy.. New thin...
Jun 27, 2024•30 min•Season 2Ep. 34
I recently worked with Kornel Szrejber, host of Canada’s #1 financial podcast “Build Wealth Canada”, on his family’s financial plan, so he could feel confident about his retirement. Kornel retired in his 30s, but he was starting to feel anxious because he wanted to make sure he wasn’t overspending. This podcast interview is a Q&A between the two of us where we talk about Kornel’s situation, as well as other situations people may go through when they are saving for retirement. We talk about w...
Jun 20, 2024•53 min•Season 2Ep. 33
You know the basics about the Smith Manoeuvre. It’s one of the most effective wealth building strategies if done by the right people in the right way over the long term. My latest podcast episode can be found on Sean Cooper’s “Burn YourMortgage” podcast on YouTube and his website www.BurnYourMortgage.ca, and you can listen here too. You’ll learn: Why should you consider the Smith Manoeuvre ? How to know if the Smith Manoeuvre is right for you. Managing the risks. Avoiding the common errors. Tax ...
Jun 04, 2024•27 min•Season 2Ep. 32
You may have heard that we just had a new budget here in Canada, and increased the taxes on capital gains. Canadians with a rental property, cottage or investments and their tax advisors are scrambling to figure out what to do before the deadline of June 25, 2024. Here are the questions we’ll cover in this latest podcast episode: What is the new higher capital gains tax? Who is affected? Why is it mainly a real estate tax? How to avoid or minimize the higher capital gains tax. Is investing insid...
May 10, 2024•38 min•Season 2Ep. 31
You may be thinking – what difference can I make in the world? As a financial planner I talk a lot about money, however, it’s not really about the money itself, but what it does for your life – how to live well, retire comfortably, and give back. In my latest podcast episode, I give you some ideas to help you choose causes that matter to you, as well as talking about financial & tax planning for donating effectively. Listen to find out: How do most people donate? What is a Donation Plan &...
May 07, 2024•35 min•Season 2Ep. 30
It’s easy to outperform financial advisors. Why? Conventional wisdom is they underperform because of fees, but there is a bigger reason. They don’t even try to outperform. They try for: “Reasonable return with less risk”. Financial advisors are mainly salespeople, not financial planners. They are more likely to lose a client because of a 30% 1-year market decline than 10 years of lagging the index. So, they focus on market fluctuations, not your life goals. This makes them do the “4 performance ...
May 02, 2024•4 min•Season 2Ep. 29
Divorce is never financially smart! As a financial planner, I don’t recommend divorce. It’s bad for your finances! However, you can go through it in the most financially smart way – to leave both of you in the best possible position. We have seen quite a few people go through divorce. We’ve seen some total disasters, fighting for years through lawyers with monstrous legal costs. A wife hiring one lawyer after another for years to keep going after her ex. A dentist declaring bankruptcy to avoid p...
Apr 30, 2024•34 min•Season 2Ep. 28
Many people today feel they have no choice but to be a tenant, however, what if you actually choose this? You can choose to be a tenant forever and it can be a great life! I’m going to introduce you to the concept of “Tenant Freedom,” to show you how great of a life it can be. Watch my latest podcast episode to find out: Advantages & disadvantages of owning vs. renting your home What you need to buy a home. How to be much wealthier as a tenant. 5 steps to a great life with Tenant Freedom. Wh...
Apr 25, 2024•27 min•Season 2Ep. 27
Gold goes down on inflation. Why doesn’t the industry know this? This is one of the most common and wrong conventional wisdoms. The conventional wisdom is that Gold protects you from inflation, so if we have high inflation Gold should be up. It should maintain its value. The problem is – this isn’t true and hasn’t been true for decades. So why does the investment industry keep promoting this idea? In my latest podcast episode I give you details on why you may have been told to invest in Gold, an...
Apr 23, 2024•14 min•Season 2Ep. 26
20 years ago I took the most fascinating investment course, and by far the most in-depth. The course made me a “Certified Hedge Fund Specialist” (CHFS). I loved it so much I received the top mark in Canada. From the course and meeting with hedge fund people, I’ve learned the ins and outs of the Hedge Fund World, which to many, seems like a secret club. In my latest podcast episode, you’ll get a sense of what this world is like, insight into the categories of hedge funds and major hedge fund stor...
Apr 16, 2024•1 hr 21 min•Season 2Ep. 25
I was honoured to be invited by Ellen Roseman to speak with her Investment Club about the 6 key lessons I have learned as a fee-for-service financial planner. They have had investment guest speakers, but never someone just talking about financial planning. Ellen Roseman is a journalist who sticks up for ordinary Canadians. Her personal finance & consumer columns appeared in the Toronto Star for 20 years, she was the Star’s business editor, a columnist for the Globe and Mail, associate managi...
Apr 11, 2024•1 hr 15 min•Season 2Ep. 24
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.
Apr 09, 2024•25 min•Season 2Ep. 23
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 ...
Apr 02, 2024•4 min•Season 2Ep. 22
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...
Mar 26, 2024•49 min•Season 2Ep. 21
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 o...
Mar 21, 2024•5 min•Season 2Ep. 20
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 negotiatin...
Mar 19, 2024•4 min•Season 2Ep. 19
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...
Mar 12, 2024•4 min•Season 2Ep. 18
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 wit...
Mar 07, 2024•9 min•Season 2Ep. 17
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
Mar 05, 2024•11 min•Season 2Ep. 16
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...
Feb 27, 2024•3 min•Season 2Ep. 15
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
Feb 22, 2024•5 min•Season 2Ep. 14
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...
Feb 20, 2024•40 min•Season 2Ep. 13
