Explore every episode of beyond MD with Dr. Yatin Chadha
Dive into the complete episode list for beyond MD with Dr. Yatin Chadha. Each episode is cataloged with detailed descriptions, making it easy to find and explore specific topics. Keep track of all episodes from your favorite podcast and never miss a moment of insightful content.
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1–50 of 89
Pub. Date
Title
Duration
18 Feb 2022
How Finance Relates to Personal Wellness with Dr. Kevin Mailo
00:58:53
Kevin Mailo, MD, Co-founder of Physician Empowerment is back.
We discuss how finance relates to our overall wellness.
Discussion points:
Burnout - symptoms, survey data, contributors (9:10) The components of wellness (18:33) How financial security/literacy can mitigate stress/burnout (23:06) Considerations for earlier career physicians (34:51) How to have more control over finances (45:58)) Does money = happiness? (53:14)
Physician Empowerment is hosting a financial literacy conference June 3-5 in Toronto, by Canadian MDs for MDs.
Website: https://www.physempowerment.ca/live
10 Mar 2022
Critical Illness Insurance with Mehul Gandhi
00:47:42
Yatin Chadha, MD, hosts Mehul Gandhi, CFP, CLU, TEP
Mehul is a financial planner, tax & estate practitioner, & licensed insurance advisor working out of the lower mainland in BC. He is the host of the Mind Your Biz Podcast, which covers topics for business owners & entrepreneurs.
Topics discussed: - what is critical illness (CI) insurance, rationale (6:44) - how much insurance is necessary? (9:50) - is it necessary in Canada? (12:20) - potential impact of CI on family (14:08) - coverage of conditions (15:24) - personal, corporate, vs shared policy ownership (17:25) - return of premium (25:23) - loss of independence (27:30) - policies for children (29:20) - must ask questions (33:25) - retirement: mitigating sequence of returns risk (36:44) - retirement: mitigating longevity risk (42:22)
You can listen to the "Mind Your Biz Podcast" by Mehul here: https://open.spotify.com/show/2MXapiWUSNcWUtYH76tYCI?si=3c0b6350982d43d9
Mehul's email: m.gandhi@westmountplanning.com
Feel free to reach out to me on LinkedIn or email to beyondmdpodcast@gmail.com
31 Mar 2022
Holding Companies with Ali Spinner
00:48:29
Ali Spinner (CPA, CA, TEP) is back! The topic today is Holding Companies.
Ali is a partner in tax at Crowe Soberman LLP & has more than 20 years of experience in personal and corporate tax matters.
Ali can be reached at Alexandra.spinner@crowesoberman.com
We discuss: - Holding company - what is it, rationale (5:00) - Rationale for protecting investments/assets from medical liability (8:45) - Homes with 2 professional corps, when to set up (11:00) - HoldCo set up, transfer of $ from operating company to HoldCo (14:00) - Lifetime capital gains exemption/LCGE (20:13) - Tax on passive/split income, TOPI/TOSI (26:15) - Surplus stripping (30:02) - Investing in collectibles (40:17) - Rental properties (42:04) - HoldCo downsides/costs (45:58)
Reach out anytime on LinkedIn, Instagram (@beyond.md), or beyondmdpodcast@gmail.com
22 Apr 2022
My perspectives Q1 2022 - used car prices, interest rate cycles, pension plans, uncorrelated returns, HoldCo's
00:30:01
Thank you for listening to my second ever solo episode! Today I discuss my perspective on what's going on in the world around us (inflation, car prices, interest rates) and touch on key points from recent episodes.
Discussion points: - why are (used) car prices so high, what happens from here, impact (2:48) - interest rates: investigating the past to gain insight into what happens next, impact (6:59) - personal pension plan (PPP): contribution limits for early career professionals (14:16) - Evidence-based investing: correlation & uncorrelated returns (17:47) - Critical illness insurance: my policy, how I hold it, a case against return of premiums (24:23) - Holding companies: reasons why one may want to consider one (27:27)
Thank you for the support! Reach out at beyondmdpodcast@gmail.com or LinkedIn.
Stay tuned for beyondmdpodcast.com & YouTube Videos!
I'm thrilled to have Dr. Wing Lim join me for this episode. Wing has achieved incredible personal, professional, and financial success. One of his impressive accomplishments is co-developing the Synergy Wellness Centre in Alberta, which provides care for more than 500,000 patients annually.
We discuss the challenges of medicine, financial mistakes, the importance adopting a growth mindset for success, the wealth mindset, taking/balancing risk, investing, the importance of our dreams, and more.
Wing and I are both speakers at the upcoming Physician Empowerment financial literacy conference for physicians. For details, please refer to:
Estate Planning 101 with the "Tax Chick" Amanda Doucette
00:58:56
In this episode I host Amanda Doucette, TEP. Amanda is a tax lawyer & founder of the Tax Chick Podcast and Blog, which are wonderful resources for anyone wanting to learn more about tax and estate planning.
Discussion points: - when to start estate planning (8;35) - essential documents (11:12) - durable vs springing power of attorney (14:05) - POA: who to choose, including trust companies (16:00) - summary of wills (18:45) - what happens if you pass away without a will (21:16) - what is probate? (23:19) - pros/cons of joint ownership (28:44) - beneficiary designations (32:47) - choosing an executor (36:36) - executor liability insurance (38:55) - basic overview of tax considerations (40:39) - RRSP: what happens (44:42) - life insurance: what happens (45:39) - preferential assets? (46:55) - tips on communicating with your family (49:24) - DIY estate planning vs getting professional help (51:14) - questions to ask an estate lawyer (55:31)
I host Dr. Michael Warner, Medical Director of critical care at Michael Garron Hospital & President of Advisory MD in one of my favourite conversations to date.
Michael talks about the importance of maintaining passions outside of medicine, how an MBA helped him in medicine & beyond, the rewards & challenges of starting a business, his investment approach, & the most impactful life lessons he's learned.
Advisory MD: https://www.advisorymd.com/
Michael's email: michaelwarner@advisorymd.com
My email: beyondmdpodcast@gmail.com
Follow me on LinkedIn: https://www.linkedin.com/in/yatin-chadha-29074b109/
21 Jul 2022
Alternative Investments with Joe Bakish
00:52:13
In this episode I host Joseph Bakish (CFA, CLU, TEP), wealth & investment advisor, portfolio manager from Bakish Wealth at Richardson Wealth. Joe has abundant experience in the industry, accolades include top under 40 advisor in 2020 and being recognized among Canada's top 50 advisors in 2021.
Discussion points:
- basic approach to alternatives, discussion of CPP (3:50) - rationale for alternatives (14:08) - are alternatives uncorrelated from stocks? (17:02) - private lending (18:28) - the importance of due diligence (20:55) - illiquidity, rebalancing issues (26:05) - Inflation hedges? (33:09) - private equity (37:43) - why alternatives if stocks will continue to go up in the long term? (40:52) - summary of farmland (43:09) - what is over/under hyped in the alternative space? (45:46) - closing remarks: the benefit of buying, holding, and closing your eyes (48:51)
Joe's email: joseph.bakish@richardsonwealth.com
email me at: beyondmdpodcast@gmail.com
Join me on Linkedin: https://www.linkedin.com/in/yatin-chadha-29074b109/
This is THE episode many have been waiting for - a conversation with the founders of Physician Financial Independence (PFI) on facebook, Paul & Jane Healey.
We cover a broad spectrum of topics including: - PFI behind the scenes - how they work as a couple/team - what they value in life - the relationship between money and happiness - talking to kids about money - financial/investing lessons - paying off debt vs investing
Thank you Jane & Paul for your unwavering effort in promoting financial literacy in the Canadian physician community!
09 Sep 2022
Overcoming the Arrival Fallacy for a More Successful Personal & Financial Life
00:28:57
Welcome to my 3rd solo episode! Today I discuss a topic that is deeply meaningful to me: the Arrival Fallacy.
More importantly, we will talk about overcoming the arrival fallacy and the implications this has for a more successful personal & financial life.
Summary: - my past and where I went wrong (1:03) - arrival fallacy definition (7:24) - the role of dopamine (10:35) - 5 ways to overcome the arrival fallacy (14:25) - a tale of 2 doctors (20:51) - spending on what you value (23:14)
This episode is brought to you by taxpay.ca (12:56). Taxpay is a platform I've been using where you or your accountant can schedule all of your tax payments. This includes personal tax, payroll remittances, corporate tax payments, GST & HST.
Taxpay can help you to simplify your life, forget the stress of taxes, eliminate potentially hefty penalties, all so that you can focus on more important things in life.
You can sign up for taxpay.ca today using the discount code "beyondmd" on the pricing page to get 6 months free.
Taxpay website: https://taxpay.ca/user/accountant
Article with screenshots to guide set up: https://taxpayca.zendesk.com/hc/en-us/articles/9043147171860
30 Sep 2022
Pre-construction Condos with Simon Mass
00:55:42
In this episode I sit down with Simon Mass, founder & CEO of the Condo Store.
Simon has more than 25 years of experience in real estate investing & is a true leader in the pre-construction space.
Condo store website: https://condostorecanada.com/ Simon's email: Simon@condostorecanada.com
Discussion points: - Simon's experience & journey in real estate (6:12) - The Condo Store's business model (10:59) - rising borrowing costs, interest rates (15:10) - Pre-con basics, GTA corridors, masterplan communities (18:05) - Selecting a builder, maintenance fees (22:55) - Deposit structures (26:24) - macro outlook, supply-demand, development challenges (31:36) - condos vs single family homes (39:25) - resale vs pre-con condos (42:54) - condos are cash flow negative (47:30)
This episode is brought to you by taxpay.ca (30:08). Taxpay is a platform I use where you or your accountant can schedule all of your tax payments (personal tax, payroll remittances, corporate tax payments, GST & HST).
Taxpay can help you simplify your life, forget the stress of taxes, eliminate potentially hefty penalties, all so that you can focus on more important things in life.
You can sign up for taxpay.ca today using the discount code "beyondmd" on the pricing page to get 6 months free.
In this interview I sit down with Mark Halpern, CFP, TEP, MFA-P.
Mark is CEO of Wealthinsurance.com & has been assisting professionals and many of Canada's most affluent families for decades with an expertise in insurance solutions and tax strategic philanthropy to enhance wealth and build generational legacies.
Discussion points: - Mark's background (5:37) - the reasons people pursue philanthropy (7:36) - gifting of appreciated public securities (11:23) - gifting through professional corporation/HoldCo has a triple benefit (15:13) - who accepts appreciated securities? (17:12) - gifting of appreciated private shares (18:31) - RRSPs - tax implications, charitable strategies (21:02) - CPP philanthropy (23:33) - Additional insurance strategies (28:03) - recognized for large gifts through life insurance (32:49) - charitable receipts (37:19)
Resources/links from Mark: website: https://wealthinsurance.com/ email: mark@wealthinsurance.com LinkedIn: https://www.linkedin.com/in/markhalperncfptepmfap/
Samples from Mark's Monthly Tax Letter: https://wealthinsurance.com/webdoc/TaxLetter-Seven-Defensive-Strategies.pdf https://wealthinsurance.com/webdoc/TaxLetter-Preserve-Your-Wealth.pdf https://wealthinsurance.com/webdoc/TaxLetter-Accidental-Philanthropy.pdf
List of all Tax Letter Publications: https://docs.google.com/document/d/1hNhZ7CSeOr2NBNdwZXCs6nL5gsRZb1Eisht_D5JxfeY/edit
This episode is brought to your by taxpay.ca. Taxpay is a safe & user friendly online platform facilitating all of your tax payments (organized by yourself or your accountant).
You can sign up for taxpay.ca today using the discount code "beyondmd" on the pricing page to get 6 month of free access.
The Pursuit of Authentic Fulfillment with Dr. Ketan Kulkarni
00:59:22
I'm very fortunate to host individuals like Dr. Ketan Kulkarni.
Dr. Kulkarni is an east coast pediatrician specializing in Hematology & Oncology. He wears many hats, having published >>100 papers, is a passionate entrepreneur, keen advocate for financial literacy, & a best-selling author.
His journey is inspiring & filled with valuable life lessons. Ketan talks about how striving for a broader identity has made medicine more enjoyable, his experience with burnout, why creating internal yardsticks for success & living in line with one's core values is critical, his relationship with money, mental traps he is prone to & more.
I had the chance to read Ketan's best-selling book (published with Dr. Francis Yoo) called the Legendary Quest. This book is highly applicable to all physicians & professionals. It outlines common mental traps & offers solutions for a more fulfilling personal & professional life.
Ketan's book, the Legendary Quest can be found at:
My LinkedIn Profile: https://www.linkedin.com/in/yatin-chadha-29074b109/
My Website: https://beyondmdpodcast.com/
Paper covering 1937-1938 (financial history): https://www.nber.org/system/files/working_papers/w17595/w17595.pdf
12 Jan 2023
Understanding Real Estate Development Investing with Sasha Cucuz, CEO of Greybrook Securities
00:57:29
It's an honour to host Sasha Cucuz, CEO of Greybrook Securities on this episode.
The focus: understanding real estate development based investing
Discussion points: - Sasha's very interesting path (2:40) - Greybrook's healthcare investments (6:00) - How Greybrook is structured...greybrook capital, realty partners, & securities (7:57) - Overview of types of projects & key markets, investment strategy (9:08) - How a development project works start to finish, how returns are generated (12:20) - Limited partnership structure (18:54) - Tax implications of investment returns (21:36) - Macro: project timelines, roadblocks, supply contraints, the silver lining for returns (22:04) - Micro: project selection, underwriting, risk management (28:06) - Impact of interest rates & commodity prices on development & investment thesis (33:15) - Exit strategies, managing the unexpected (37:42) - A note on developers, additional risk mitigation strategies (43:16) - How taking a contrarian approach can be beneficial (50:10)
Exploring Liquid Alternative Investments with Jeremy Donath (Donath & DiSabatino Group, BMO Private Wealth)
00:51:02
My exploration of investing continues today with Jeremy Donath, LL.B, CIM. Jeremy co-runs the Donath & DiSabatino Wealth Management Group in BMO Private Wealth.
Today's topic covers Liquid Alternative Investments.
Discussion points: - Jeremy's background & experience (7:06) - Basic investment approach (8:08) - What is a liquid alternative investment? (10:46) - Sectors and asset classes covered by liquid alts (12:34) - Accessed by individuals or institutions? (13:46) - RRSP eligibility (14:42) - Checklist for due diligence - critical (15:16) - Rationale for liquid alternatives in the portfolio (22:40) - Challenging liquid alts through the illiquidity premium (25:32) - Returns of liquid alts vs TSX & SP500 (27:05) - But most rolling 10 year periods since 1937 are + for index funds....(30:08) - Pivoting from alts to equities & vice versa, dealing with market timing (34:50) - Pension funds & liquid alternatives (37:16) - Fund fact sheets - information we need to know (39:04) - Hurdle rates (40:23) - Performance fees, high water mark (41:06) - Any fees when you sell the fund? (44:16) - Upside & downside capture (45:24) - Sharpe ratio, sortino ratio (46:24) - Closing remarks (47:59)
Part 1 BRRRR Real Estate Investing with Quentin D'Souza - Buying
00:34:37
Welcome to part 1 of a 4 part series on the BRRRR (buy, renovate, rent, refinance & maybe repeat) method of real estate investing featuring Quentin D'Souza.
Quentin is one of the most trusted voices in Canadian real estate investing. He started as a school teacher and has now built a real estate portfolio worth > $125 million.
Discussion points: - Quentin's inspiring story & background in real estate investing (3:45) - Developing the real estate investor mindset (11:46) - Introduction to the BRRRR method (13:45) - Buying - solving problems, finding listings off the MLS (17:22) - Buying - the importance of relationships (23:43) - Key questions to ask a realtor (26:51) - Screening properties efficiently, mapping out a city (29:35)
RESOURCES
Quentin: website: https://quentindsouza.com/ Durham Real Estate Investor's Club: https://durhamrei.com/ IG: https://www.instagram.com/qmanrei/ LinkedIn: https://www.linkedin.com/in/quentindsouza/ Get Real Wealthy Podcast: https://podcasts.apple.com/ca/podcast/get-real-wealthy/id1556449211 Books: The Property Management Toolbox The Filling Vacancies Toolbox The Finding Properties Toolbox The Action Takers Real Estate Investing Planner Link: https://www.amazon.ca/Property-Management-Toolbox-How-Investors/dp/0993671713
Part 2 BRRRR Real Estate Investing with Quentin D'Souza - Renovating
00:24:59
Welcome to part 2 of the Buy, Renovate, Rent, Refinance (& maybe repeat) method of real estate investing with Quentin D'Souza. Topic = Renovation.
Quentin is one of the most trusted voices in Canadian real estate investing. He started as a school teacher and has now built a real estate portfolio worth > $125 million.
Discussion points:
- Strategies for inspecting rental units & getting cost estimates (3:25) - Project timelines & high yield renovation planning tips (9:44) - Considerations for basement suites such as ceiling height, egress, natural light (14:35) - Small renovation maneuvers that can increasing property value (18:32) - Estimating post renovation appraisal value (21:03)
RESOURCES
Quentin: website: https://quentindsouza.com/ Durham Real Estate Investor's Club: https://durhamrei.com/ IG: https://www.instagram.com/qmanrei/ LinkedIn: https://www.linkedin.com/in/quentindsouza/ Get Real Wealthy Podcast: https://podcasts.apple.com/ca/podcast/get-real-wealthy/id1556449211 Books: The Property Management Toolbox The Filling Vacancies Toolbox The Finding Properties Toolbox The Action Takers Real Estate Investing Planner Link: https://www.amazon.ca/Property-Management-Toolbox-How-Investors/dp/0993671713
Part 3 BRRRR Real Estate Investing with Quentin D'Souza - Renting
00:30:02
Welcome to part 3 of the Buy, Renovate, Rent, Refinance (& maybe repeat) method of real estate investing with Quentin D'Souza. Topic = Renting.
Quentin is one of the most trusted voices in Canadian real estate investing. He started as a school teacher and has now built a real estate portfolio worth > $125 million.
Discussion Points:
- Understanding debt coverage ratio, the multiple benefits of positive cashflow (2:10) - Quentin's comprehensive checklist & process for screening and selecting tenants (5:52) - A, B, C, and D class tenants (16:02) - Using property management & freeing up your time (18:20)
RESOURCES
Quentin: website: https://quentindsouza.com/ Durham Real Estate Investor's Club: https://durhamrei.com/ IG: https://www.instagram.com/qmanrei/ LinkedIn: https://www.linkedin.com/in/quentindsouza/ Get Real Wealthy Podcast: https://podcasts.apple.com/ca/podcast/get-real-wealthy/id1556449211 Books: The Property Management Toolbox The Filling Vacancies Toolbox The Finding Properties Toolbox The Action Takers Real Estate Investing Planner Link: https://www.amazon.ca/Property-Management-Toolbox-How-Investors/dp/0993671713
Part 4 BRRRR Real Estate Investing with Quentin D'Souza - Refinancing
00:21:24
Welcome to part 4 of the Buy, Renovate, Rent, Refinance (& maybe repeat) method of real estate investing with Quentin D'Souza. Topic = Refinancing.
Quentin is one of the most trusted voices in Canadian real estate investing. He started as a school teacher and has now built a real estate portfolio worth > $125 million.
Discussion Points:
- What makes a worthwhile BRRRR? (0:47) - Preparing for the appraisal (5:23) - Appraisal timing & mortgage considerations (10:55) - Variable or short term fixed? (13:03) - Closing remarks, how to reach Quentin (16:46) - BRRRR summary, interest rates (18:15)
RESOURCES
Quentin: website: https://quentindsouza.com/ Durham Real Estate Investor's Club: https://durhamrei.com/ IG: https://www.instagram.com/qmanrei/ LinkedIn: https://www.linkedin.com/in/quentindsouza/ Get Real Wealthy Podcast: https://podcasts.apple.com/ca/podcast/get-real-wealthy/id1556449211 Books: The Property Management Toolbox The Filling Vacancies Toolbox The Finding Properties Toolbox The Action Takers Real Estate Investing Planner Link: https://www.amazon.ca/Property-Management-Toolbox-How-Investors/dp/0993671713
The Journey to Financial Independence & Traveling the World with Dr. Matt Poyner
00:59:19
I'm thrilled to host my colleague & friend, Dr. Matt Poyner.
Matt is a former ER physician who paved his way to financial independence in his 40's. He made the decision to leave medicine, travel the world with his family, and to pursue his new passion of teaching other physicians about money. Matt is also currently pursuing his CFP designation.
Matt's story is one of taking chances, carving out a different path, & striving to enjoy life today (not tomorrow). He was able to achieve a lot of this by playing the long game through common sense & evidence based investing. His approach includes great success with dividend investing, a topic he is highly knowledgeable about and has written about widely.
Paper on dividend investing: https://www.hartfordfunds.com/dam/en/docs/pub/whitepapers/WP106.pdf
20 Apr 2023
Guaranteed Investment Certificates (GICs) 101 with Mahima Poddar from EQ Bank
00:25:45
Next to our volatile markets, guaranteed income certificates (GICs) have been one of the most discussed topics over the last year.
In this episode I sit down with Mahima Poddar of EQ Bank to dissect these in a bit more detail.
Mahima Poddar is the Senior Vice-President & Group Head of Personal Banking at Equitable Bank (EQ), which has now grown to $8 Billion in deposits and over 300K customers.
Discussion Points: - what is a GIC? (6:15) - payment frequency (6:36) - reinvesting interest (7:11) - what influences GIC rates? (7:45) - registered vs non-registered rates (10:03) - GIC rates at big banks vs EQ & other smaller banks (10:30) - redeemable/cashable GICs: how much of your cash can you remove? (11:40) - what if you need to pull out $$ from a non-redeemable GIC? (12:20) - GIC protection through CDIC (13:06) - understanding a laddered GIC approach (14:33) - market-linked GICs (16:31) - the pain points EQ bank is trying to solve & plans for business banking (19:30)
Everything You Need to Know About the First Home Savings Account (FHSA) with Stefan Scott
00:48:19
It's my pleasure to host Stefan Scott, a fee-for-service (flat-fee) Financial Planner. He is a valued voice on the Physician Financial Independence Facebook group & is exceptionally well versed on the First Home Savings Account (FHSA).
Discussion points: - Stefan's background (6:42) - FHSA overview (9:10) - Eligibility, definition of first time home buyer (10:27) - How long can an account stay open for? (12:54) - Carrying forward contributions, over contribution penalties (13:36) - Tax deductions (15:26) - Transfers from FHSA to RRSP & vice versa (17:08) - Are home furnishings eligible? (19:25) - Spousal transfers (21:31) - the right way to make transfers (22:24) - FHSA types, eligible investments, investment strategies (23:40) - Foreign withholding tax exempt? (28:28) - Strategies if you don't buy a home (29:37) - FHSA vs RRSP Home Buyer's plan (33:19) - What happens to FHSA at death? (36:06) - Qualified withdrawals & withdrawal guidelines (37:44) - Closing thoughts on FHSA and beyond (42:40)
Jamie Golombek is back!!! This time to discuss a frequently requested topic: TRUSTS
Outline: Jamie's background (1:48) Basic overview of trusts (3:15) Big picture: why would one want to open a trust? (6:12) Trusts nitty gritty (contributions, assets, taxes, corporate transfers) (7:45) Income splitting using a trust (11:09) Tax implications for trust income (14:45) Investment strategies for a trust (15:47) Deferral of capital gains (16:42) Estate freeze - mechanics & role of a trust (17:50) Other trusts: alter ego, joint partner, foreign inheritance (20:35) A few notes on charitable gifting (24:45) The current landscape in advanced tax planning (26:46) Who benefits from a trust, how much $$ do you need? (28:56) Parting words, advice for 2023 (30:03)
Jamie's article on trusts: https://www.jamiegolombek.com/media/in-trusts-we-trust-en.pdf
YouTube Videos for this Episode: https://www.youtube.com/watch?v=y14V8TFUOwU&t=28s https://www.youtube.com/watch?v=yT9gw7ZgB7s&t=10s
My Many Money Mistakes & What I've Learned (Part 1)
00:24:21
Thank you for tuning in to my 4th solo episode.
We all make our fare share of mistakes & I am no exception. In fact, I've made so many financial mistakes that it will take at least 2 episodes to cover them all.
Please note: I use this card myself & will receive travel points through this link. You can support beyond MD using this link if you feel you would benefit.
Mark Soth's (The Loonie Doctor) RESP articles: https://www.looniedoctor.ca/2023/04/21/resp-contribution/ https://www.looniedoctor.ca/2019/05/03/best-resp-contribution/
My first home purchase by the numbers: https://beyondmdpodcast.com/leran-how-to-add-a-new-post/
23 Jun 2023
My Many Money Mistakes & What I've Learned (Part 2)
00:22:54
Thanks for joining me on part 2 of my money mistakes.....too many to count ;)
After discussing the highlights from my California road trip, I talk about 6 more mistakes that have cost me big & what we can learn from them.
The first mistake starts at (6:09).
This year we made a conscious decision to travel the world more & live our best lives today. I'm learning more about optimizing travel rewards & am sharing the link to my preferred card below:
Please note: I use this card myself & will receive travel points through this link. You can support beyond MD using this link if you feel you would benefit.
Optimizing Your Most Important Insurance Policy: Disability Insurance Deep Dive with Kristen Fazio
00:38:48
Welcome to my 50th episode!
Today we focus on the most important insurance policy we all need: disability insurance (DI). The discussion focuses on fully understanding the policy & key riders, and optimizing the policy for your needs (as well as cost).
Please note: DI basics are covered in episode 2 for anyone seeking a refresher.
My guest: Kristen Fazio from Professionals' Insurance Centre.
Discussion Points: How much DI coverage do we need? (3:54) Max coverage, strategies for high earning professionals (6:43) When should medical trainees consider DI? (9:15) Future income rider (11:23) Ways to cut cost on your DI policy (13:23) Own occupation rider - who needs this? (15:24) Do radiologists need the own occupation rider? (18:49) What happens if your alternate job generates more income than medicine? (20:19) Partial and residual disability (21:40) When to consider canceling DI (25:16) Term life insurance - how much do we need? (27:37) Spousal income (31:54) The impact of inflation on your projections (33:54) Are we adequately insured? (36:15) Closing remarks (37:45)
The Many Benefits of Locuming as a Physician featuring Dr. Michael Fralick
00:30:44
Today I sit down with Dr. Michael Fralick, who is a Clinician-Scientist at the University of Toronto to talk about locuming as a physician.
Mike and his brother, John Fralick, host the Rounds Table podcast, bringing summaries of the most relevant randomized controlled trials to practicing physicians.
Table of Contents: My opinion on the benefits of locuming (0:48) Dr. Mike Fralick's background (4:37) Mike's experiences locuming to date (5:45) Where to locum, how to sign up for locums (7:48) The motivation behind locuming (9:38) The key benefits of locuming (11:03) Time & geographical freedom through locuming? (14:34) The key negatives/challenges of locuming (16:05) Finances of locuming (19:16) Billing on locums (22:08) What expenses are covered on a locum? (23:39) Tax implications for some academic physicians (24:18) Locum contracts (26:09) Mike's "Rounds Table" podcast, elective for residents in Sue St. Marie (27:36)
Optimizing Your Professional Corporation with The Loonie Doctor (Dr. Mark Soth) Part 1
00:37:03
Due to popular demand, finally overcoming my procrastination, and finally getting more comfortable with my knowledge base, I am thrilled to welcome Dr. Mark Soth (aka The Loonie Doctor) to beyond MD.
This is corporate tax and corporate investment optimization 101.
Discussion Points: The mission behind the Loonie Doctor Blog (2:41) Mark's evolution (6:17) Corporation taxation basics (8:29) What are the main advantages of incorporating? (10:46) RDTOH basics (12:45) Canadian/eligible dividends earned through the corporation - should we pay these dividends out to ourselves (15:29)? Overview of passive income rules (19:15) GRIP/General Rate Income Pool (21:30) ON and NB are different with the passive income rules (22:57)) Capital gains harvest & the capital dividend account/CDA (27:16)
Mark's blog: https://www.looniedoctor.ca/
My links: beyondmdpodcast@gmail.com https://www.linkedin.com/in/yatin-chadha-29074b109/
17 Aug 2023
Learning with the Loonie Doctor (Dr. Mark Soth) - Part 2
00:22:07
Thank you for joining me for part 2 with the Loonie Doctor (Dr. Mark Soth).
Discussion points: - summary of sources of corporate tax drag (1:44) - how does Mark invest his own money? (3:55) - optimal salary & dividend mix (6:39) - Mark's view on individual pension plans/IPPs (8:42) - What's moved the needle most for Mark? (11:29) - Decumulation overview (13:19) - Lessons for the kids (17:10) - Closing thoughts (19:29)
Mark's blog: https://www.looniedoctor.ca/
My links: beyondmdpodcast@gmail.com https://www.linkedin.com/in/yatin-chadha-29074b109/
07 Sep 2023
Traveling the World Affordably by Optimizing Credit Card Points with Ricky Zhang
01:03:02
Today I host Ricky Zhang, founder of the Prince of Travel. This is a deep dive on understanding & optimizing travel rewards so that we can travel the world by spending less!
Discussion Points: Ricky's background & the origin of Prince of Travel (3:45) How does the points system work? (7:07) Earning points rapidly through credit cards (11:14) Credit score fundamentals (19:07) Should we keep our credit cards for the long term? (22:40) The credit card game isn't for everyone - who should avoid it? (26:54) Other ways to rack up points at a faster pace (31:40) The best credit card for Canadians: Amex Cobalt (32:47) Credit cards for small business owners, why Amex points are so versatile (33:45) Understanding the RBC Avion point system (37:04) Redeeming points efficiently, dynamic pricing, ideal booking windows (39:47) Example of redeeming points - Toronto to Portugal (45:26) Prince of Travel Concierge services (50:07) Aeroplan elite status (52:15) How to get started (53:40) Rapid fire, including a strong credit card portfolio (55:19) How many credit cards does Ricky have? (58:58) Closing thoughts (60:20)
Tax Efficient Philanthropy Part 2 - Donor Advised Funds & Private Foundations with Mark Halpern
00:44:34
This episode provides a deep dive into donor advised funds, a lesser known philanthropic strategy. I'm happy to have Mark Halpern, CEO of WealthInsurance.com back on the pod.
Discussion points: - what is a donor advised fund/DAF (5:23) - what can flow into a DAF? (8:23) - transferring appreciated corporate securities to a DAF (11:50) - rules around tax deductions on (DAF) contributions (15:32) - others contributing to your DAF (17:10) - DAF contribution rules (18:39) - setting up a DAF (22:30) - investments inside a DAF (23:20) - DAF investment management fees (25:10) - Slecting charities, money flowing out from a DAF (27:43) - any DAF cons? DAF vs Private Foundations (30:43) - more on private foundations (33:45) - charitable gift annuities (35:42)
In this episode I welcome Rounak Langhe, MBA, CFA, founder of Durham Asset Management.
Rounak is an expert in fixed income investing. The aim of the this episode is to cover the fundamentals of bonds.
Discussion Points: - Rounak's background (3:35) - what is a bond? Understanding the the 3 C's & coupon rate, maturity, and payment dates (8:40) - overview of bond types: government, corporate, junk/high-yield & bond rating agencies (13:04) - lower risk for higher yields in the bond market today? (19:24) - main determinants of bond yields, yield curves (21:00) - basic bond math, impact on future bond prices (22:47) - investing in bonds when rates have (hopefully!) peaked (26:38) - why have bonds into your portfolio? (28:02) - ways to invest in bonds - individual holdings vs ETFs vs mutual funds, fees (30:24) - Canadian bond universe ETF composition (34:10) - bond ETF fact sheets (36:29) - is the 10 year US treasury yield a good marker for yields over the next 10 years? (38:18) - closing thoughts (39:52)
Check out the postcall newsletter: https://postcall.ca/subscribe
Mark Soth's article on bonds in a professional corporation: https://www.looniedoctor.ca/2023/10/13/bond-etf-corporation/?fbclid=IwAR2KfvzLFPCQ9BdV5dyOSG7j2E_gNtixfWkPZTjC6nIyS7gfLizXvpf-sco
Yatin's Links: beyondmdpodcast@gmail.com
09 Nov 2023
The Truth about Permanent Life Insurance (Part 1): the basics, policy types, components, funding & structure - with Jeff Bernstein, CLU, MFA-P
00:46:14
It's finally time to tackle permanent life insurance with a series of episodes. I'm thrilled to host Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance as we do a deep dive on this topic.
Discussion points: Jeff's background (5:57) What is permanent insurance? (9:30) Considerations for permanent life (12:30) Core concepts: adjusted cost basis & capital dividend account/CDA (16:35) Types of permanent life insurance: Universal Life (UL), Whole-life (WL) (24:35) Participating vs non-participating whole life insurance (27:07) Understanding key policy components: death benefit & cash surrender value (31:35)) Permanent life policy funding timelines: does it make a difference? (33:57) Policy structure: growth vs estate oriented (37:49) Can term life be converted to permanent life? (40:28)
**I endorse only products/services I personally use or would use. I can get commissions that will be used to offset the costs of running this podcast :)
Jeff Bernstein: https://www.linkedin.com/in/jeffreymbernstein/ jeffbernstein@seligman.ca
My links: https://www.linkedin.com/in/yatin-chadha-29074b109/ beyondmdpodcast@gmail.com
10 Nov 2023
The Truth about Permanent Life Insurance (Part 2): Demystifying Participating Whole Life Insurance - with Jeff Bernstein
00:46:26
Welcome to Part 2 of Permanent Life Insurance with Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance.
Discussion points: PAR Whole life investments (2:05) PAR fund performance, dividend scales (5:51) PAR fund actuarial assumptions (9:45) Performance headwinds/tailwinds, dividend smoothing (14:55) Open and closed policy blocks (19:08) Illustrations: what we need to know (23:45) Permanent life insurance as an asset class (31:10) Universal life investments and costs (35:30) Non-participating WL vs PAR (41:55)
Jeff Bernstein: https://www.linkedin.com/in/jeffreymbernstein/ jeffbernstein@seligman.ca https://seligman.ca/
My links: https://www.linkedin.com/in/yatin-chadha-29074b109/ beyondmdpodcast@gmail.com
16 Nov 2023
The Truth about Permanent Life Insurance (Part 3) - How can a Permanent Life insurance policy be used?
00:38:11
Welcome to Part 3 of Permanent Life Insurance with Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance.
Discussion Points: Summary of the death benefit (0:58) Permanent life policies for the kids? (2:58) Corporate Insurance Retirement Plan (6:10) Infinite banking/being your own banker (beware) (18:50) Immediate Financing Arrangement (IFA) (29:17)
Jeff Bernstein: https://www.linkedin.com/in/jeffreymbernstein/ jeffbernstein@seligman.ca https://seligman.ca/
My links: https://www.linkedin.com/in/yatin-chadha-29074b109/ beyondmdpodcast@gmail.com
17 Nov 2023
The Truth about Permanent Life Insurance (Part 4) - Who should consider permanent life insurance?....And more
00:30:10
Thank you for joining me on the final segment of permanent life insurance with Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance.
Discussion Points: - The White Coat Investor & permanent life insurance (1:26) - Who can benefit from permanent life insurance? (3:44) - Commissions on permanent life insurance (8:14) - How do commissions impact your policy? (19:18) - Exit strategies, Canceling a policy (22:15) - Closing remarks (25:51)
**I endorse only products/services I personally use or would use. I can get commissions that will be used to offset the costs of running this podcast :)
Jeff Bernstein: https://www.linkedin.com/in/jeffreymbernstein/ jeffbernstein@seligman.ca https://seligman.ca/
My links: https://www.linkedin.com/in/yatin-chadha-29074b109/ beyondmdpodcast@gmail.com
06 Dec 2023
Permanent Life Insurance Part 4 Addendum: Options for Navigating Policies without Fully Exiting
00:03:59
Hello all! We decided to add a few details to Part 4 on Permanent Life Insurance with Jeff Bernstein (CLU, MFA-P).
While some may elect to cancel policies, there are also options for navigating policies without fully exiting, which are covered here in a quick summary:
Enjoying a Diverse Career & Multiple Streams of Income with Dr. Stephanie Zhou (Part 1)
00:31:52
Join Dr. Stephanie Zhou in today's episode as she dives into her diverse career and the streams of income that come with it.
Dr. Steph specializes in addictions medicine at Sunnybrook Hospital, leads the Financial Literacy Curriculum at the University of Toronto, started the annual Physician Financial Wellness Conference, and was recognized among Canada's 100 most influential women in 2022.
Tune in for an insightful conversation on multiple streams of income!
Discussion Points:
The different types of income streams (4:30)
How Dr. Steph’s practice is structured and the various streams of income that comes within it (6:37)
Does doing a variety of things lead to burnout or sustenance? (12:37)
Doing non-destructive focused work (13:24)
How admin work gives you time and geographical freedom (19:23)
Asking professional compensation when getting invited to speak in talks and conferences (20:13)
Enjoying a Diverse Career & Multiple Streams of Income with Dr. Stephanie Zhou (Part 2)
00:33:09
Thanks for tuning in to part 2 of multiple streams of income with Dr. Stephanie Zhou.
One thing I hope people can take away from these interviews is that it's possible for many of us build a diverse and rewarding career....the multiple streams of income is the cherry on top.
Discussion Points:
Getting paid to offer advice in your area of expertise (0:37)
Steph's approach to venture capital (6:08)
Income through traditional investments (12:52)
Income potential through social media (16:05)
Exploring the distinctions between podcasting and YouTube in terms of monetization (19:35)
Real estate investments and their relationship to a potential recession (22:40)
How to Soar to a Rich & Successful Life with Dr. Ketan Kulkarni
00:54:46
I'm thrilled to welcome back our colleague, Dr. Ketan Kulkarni, who is a pediatrician, coach, author, & entrepreneur.
This is a fun and wide ranging interview. We discuss Ketan’s new book, Soar: A Soul's Quest (link below), what a rich & successful life means to us, how to stick to our core values, time management, financial needle movers, bringing out the best in our kids, & more.
Discussion Points:
Ketan’s new book, Soar (2:48)
Lessons learned after writing 2 books (9:45)
Tips for writing a book (15:34)
Navigating through multiple interests, beating burnout, & establishing your metrics for success (18:12)
Strategies for living a life aligned with your core values (21:54)
Ketan's thoughts on seeking coaching & advice during the journey (24:25)
Beating limiting thoughts & breaking through (26:20)
Specializing vs thriving through multiple pursuits (28:38)
Deep learning as a remedy for burnout (32:24)
Time management hacks to live a balanced life (35:04)
What financial practices have been most impactful for Ketan? (38:35)
Parenting & bringing out the best in your kids (43:57)
Key Learnings from 15 years of DIY Investing in the Markets with Dr. Dimitre Ranev
00:51:16
I'm thrilled to host Dimitre Ranev, MD. Dimitre is a savvy mind when it comes to DIY investing. I've benefitted from his wisdom over the years & I'm excited to pick his brain on his investing approach today.
**I endorse only products/services I personally use or would use. I can get commissions that will be used to offset the costs of running this podcast :)
Discussion Points:
Guest Introduction (3:13) An overview of Dimitre's portfolio & investing approach (8:30) Dimitre's process behind analyzing a company (12:54) Dividend investing - what to consider (16:58) Payout ratios, valuation, P/E ratio relative to historical norms (20:12) Investing during inflationary times (23:30) Time required to invest in individual companies (29:36) Behavioural tendencies, having the right investor psychology, minimizing irrational behaviour (30:44) The importance of rebalancing your portfolio (35:47) Financial considerations as we pivot from early to mid career (39:05) Dimitre's preferred resources for learning about investing (41:50) Rapid fire (47:25) Dimitre’s advice on building wealth (49:28)
Tax Matters: How will Alternative Minimum Tax (AMT) Changes Affect High Income Canadians in 2024? - with Kim GC Moody
00:54:59
Today I welcome Kim GC Moody, one of our country's top tax experts, to discuss AMT (Alternative Minimum Tax) changes for 2024 & beyond and the potential implications for high income earners in Canada.
The podcast has 3 segments: 1) AMT history & mechanics 2) AMT changes 3) AMT Scenarios
Discussion Points: AMT basics (0:47) Table of contents (2:07) Kim Moody's bio (2:41) Intro (3:58) AMT intro, history, & mechanics (6:33) How are tax decisions made in Canada? (12:12) How has AMT changed in 2024? (15:45) Are more people leaving Canada due to excess tax? (20:00) AMT - there is a provincial part, no impact on corporations (24:32) Impact of AMT on capital gains (25:20) Impact of AMT on carrying forward capital losses (27:08) No impact on eligible dividends (27:55) Impact of AMT on lifetime capital gains exemption (28:35) Impact of AMT on charitable gifting (30:05) Impact of AMT on stock options (36:12) Impact of AMT on trusts (37:14) Impact of AMT on carrying forward interest charges for rental properties (38:00) AMT calculations for specific scenarios (39:34)
capital gains
capital gains + carry forward capital loss
capital gains, eligible dividends, + charitable donation
What % of people will be impacted by AMT? (47:42) Closing remarks (50:15)
My Investing Journey: The Good, The Bad, & The Ugly
00:28:40
Today I discuss some of my investments. There have been wins along with some subpar performances. I've also caught myself occasionally falling into common investing traps. Today I address it all and what I've learned from my experiences.
Discussion points: - #1: focusing too much on price (4:46) - #2: the importance of understanding what you are investing in (9:48) - #3: sometimes it pays to take less drastic action (17:35) - #4: investing in the market at all time highs (25:54)
Corporate Shareholder Agreements with Parish Bhumgara
00:30:29
In this episode I sit down with Parish Bhumgara from Gardiner Roberts LLP to discuss corporate shareholder agreements (CSA).
Discussion points: - Parish's background (2:05) - Corporate shareholder agreements/CSAs: what & when? (2:40) - CSAs: who should consider this? (3:45) - CSA structure (6:20) - CSA share types (8:05) - Key details to be outlined on a CSA (11:03) - Unanimous shareholder agreements (16:33) - Scenarios where CSAs really help (17:33) - Separate corporation to invest in Real Estate (19:52) - Corporations as a way to reduce liability (21:55) - Any disadvantages to CSAs? (23:30) - CSA set up (24:45) - CSA cost (25:05) - Transferring shares (27:18)
Should you Buy Rental Properties? A Physician's Perspective after 15 years of Real Estate Investing
00:44:55
I'm happy to have Dr. Kevin Mailo back on the show to discuss what he's learned from investing in real estate (RE) over the last 15 years. We talk about winners and laggards in the portfolio, property managers, challenges with direct ownership in RE, the importance of due diligence in private equity, & how critical it is to understand your "why" in investing.
Physician Empowerment's Toronto conference occurs May 25-26 this year and you can save $100 using the discount code YATIN24 at: https://www.physempowerment.ca/live
Discussion Points: - Kevin's reflections on his RE investing journey so far (4:09) - Property managers and cognitive overload (8:55) - Letting go of (challenging) properties & learnings (10:30) - Kevin's RE portfolio (13:06) - Characteristics of good RE investments in the portfolio, investing in Alberta (14:42) - Properties that haven't worked out, details on preconstruction condos (17:10) - Advice for those starting RE investing today (23:05) - Reflecting on how many properties to hold for retirement (27:10) - How does private equity investing work? (29:55) - Private equity and due diligence (33:34) - Private equity investment timelines & return types (36:68) - Public vs Private investment breakdown/rules of thumb (39:15) - Public REITs (40:08) - Goals for the next few decades (40:59)
How Will a Higher Capital Gains Inclusion Rate Impact Canadian Professionals? with Ali Spinner, FCA, FCPA, TEP
00:38:53
I'm thrilled to host Ali Spinner, one of Canada's most trusted voices in tax, on the implications of the proposed hike in the capital gains inclusion rate.
Discussion Points: - Tax 101 & What happened to the capital gains inclusion rate (0:55) - Numerical example with 100K capital gains (5:51) - Has tax integration been violated? Where should we hold certain assets like rental properties? (6:25) - Is it still worthwhile incorporating? (13:30) - A brief history of the capital gains inclusion rate (16:48) - What can investors do?: a) absolutely nothing (19:05) b) selling assets and impact of Alternative Minimum Tax/AMT & GAAR/General anti-avoidance rules (21:07) c) tax planning through insurance and pension plans (29:10) d) departure tax for those considering leaving Canada (32:05) - Change in Lifetime capital gains exemption/ LCGE, capital gains exemption for entrepreneurs (34:10)
Do you have a business idea? Practical & financial considerations for start ups with Matija Kamikovski, CFA
00:59:56
Welcome back to beyond MD! Do you have an idea you want to bring to the world? If so, this episode is for you.
Today I sit down with Matija Kamikovski, CEO of Precision Finance. Matija has more than a decade of experience leading finance teams at start ups.
Discussion Points: Matija's background in guiding startups (4:10) Coming up with a sustainable business idea (7:50) How to get data on the usefulness of your idea (10:25) How do you know people will pay for your idea? (13:05) Attributes leading to success/failure in entrepreneurship (14:45) How do you actually get started? (17:59) The financial metrics you need to track in the early days - cash, burn, runway (25:10) Growth at all cost vs bootstrapped businesses (27:03) How often should we track the financial metrics? (29:30) Operating as a sole proprietor vs incorporating the business - set up, liability, tax deductions (30:30) Budgeting, accounting, bookkeeping - guidelines & platforms (37:50) When should a company start outsourcing tasks? (43:20) Potential pitfalls of hiring to quickly (45:00) The importance of sales (47:41) Exit strategies (50:13) What % of percentage of start ups fail? Don't let the thought of failure stop you (53:27) Closing thoughts by Matija (55:12) My perspectives
The Building Blocks of a Happy & Successful Life - with Andrew Hallam
01:12:04
I am delighted to host international best selling author, Andrew Hallam, on today's episode.
We have a wide ranging discussion on the pillars of a successful life, the relationships between money & home ownership & happiness, spending money to enhance life satisfaction, evidence-based investing for success & simplicity, relationships, purpose, & lessons learned living abroad.
Discussion Points/Chapters: - Andrew's background (1:40) - The requisites of a balanced & successful life (5:35) - The relationship between income and happiness (7:30) - How should we spend our money? (10:40) - The desert island litmus test (15:55) - Is home ownership associated with happiness? (18:05) - Is our happiness impacted by the neighbourhood we live in? (21:59) - How much of our income should we spend on a home? (25:10) - Why our investment horizon should be 30+ years (27:10) - Should you lump sum invest now or wait? (31:30) - Andrew's take on one stop shop ETFs (38:00) - My investment approach & challenges (42:30) - Key questions to as a financial advisor (46:17) - How to think less about $$ and embrace balance (50:00) - Why relationships are so important (52:99) - Meaningful relationships in a world where social media is ubiquitous (54:38) - Lessons from living abroad, advice for those considering it (59:00) - The power of giving (1:02:30) - Finding your purpose (1:04:35) - My perspectives (1:09:15)
Re-examining pension plans for professionals with Jason Pereira
00:58:33
Today I'm thrilled to welcome Jason Pereira, award winning financial planner to the show to re-explore pension plans for professionals. The focus is on the IPP, the individual pension plan.
Discussion Points: - Individual Pension Plan (IPP) overview (2:40) - Jason's background (5:25) - key definitions - defined benefit (DB) & defined contribution (DC) pensions (6:10) - how is the DB of an IPP calculated? (7:18) - When to start an IPP? Thoughts on waiting longer & reducing fees (11:20) - Who is the ideal candidate for an IPP? (14:08) - Is there an income threshold below which an IPP makes no sense? (16:25) - Is there a ceiling to the DB? (18:05) - Jason's thoughts on the RCA (21:02) - IPP vs PPP (26:00) - Does is make sense to place conservative assets inside the DB component? (30:33) - Is the contribution amount similar across different pension types? (32:28) - Navigating the pension landscape (32:50) - IPP vs RRSP & Spousal RRSP (34:30) - IPP vs investing in a corporation with new cap gains rules (35:15)) - Common mistakes professionals & business owners are making (37:45) - Improvements upcoming to financial planning in Canada (42:26)) - The most valuable lesson Jason has learned (50:00)
Dissecting Health Spending Accounts (HSAs) with Justin Manning
00:47:07
Today I'm excited to host Justin Manning, a licensed life & health insurance broker from BC, to talk about a topic I've been getting many questions on lately: Health Spending Accounts, HSAs.
Discussion Points: - Justin's background (4:05) - What is an HSA/PHSP (4:45) - HSA eligibility (5:42) - Who could benefit from an HSA? (9:45) - What services are covered by an HSA? (11:20) - Can travel insurance be covered by an HSA? (13:29) - Specific services covered/not covered by an HSA (14:20) - The mechanics of how an HSA works (16:55) - How much coverage are we allowed through an HSA? (19:49) - Plan customization, wellness spending accounts (22:22) - Set up, key questions, costs (26:26) - Any HSA cons (?), potential misuse (32:28) - No need to prove health (36:38) - Can provincial plans like OPIP be paid through by our corporation (37:17) - Justin's closing thoughts, what if I already have a good group plan? (38:37) - My perspectives (42:30)
Fixed Income: Understanding Mortgage Investment Corporations in Today's Environment with Arjun Saraf (CPA, CA, EMD)
00:55:54
I'm thrilled to host my friend & colleague, Arjun Saraf (CPA, CA, EMD). We focus on Mortgage Investment Corporations, with a focus on understanding the challenges in the current environment & key considerations when navigating this investment strategy.
Discussion points: - Arjun's professional background (5:33) - Quick overview on New Haven's MIC (6:57) - Understanding equity based lending (8:50) - How does a high interest interest rate environment impact a MIC? (12:00) - The MIC business landscape today (15:07) - Tax treatment of MIC investment income (17:41) - Current trends on arrears (18:25) - Thoughts on interest rates (25:45) - Risk mitigations strategies within a MIC (29:40) - Key lessons learned running a business in this environment (35:13) - MICs vs other fixed income investment strategies today & when rates fall (36:30) - 3 Key questions to ask before investing in a MIC (39:40) - Time to liquidity/getting your money out (43:20) - Arjun's most valuable lesson (47:25) - My perspectives (49:50)
Ep #75: Philanthropy - 4 Essential Reasons to Give - with Mark Halpern & Yatin Chadha
00:50:40
Mark Halpern (CFP, TEP, MFA-P) is one of the top voices in tax efficient philanthropy in Canada. Earlier this year, Mark interviewed me on the reasons to give, and I came up with 4 reasons important to me that I hope you will find useful.
Discussion Points: - my background & journey (3:00) - the journey of beyond MD (6:02) - how my interest in philanthropy evolved (11:20) - reason #1 to give: giving makes is happier - what is the evidence? (13:10) - reason #2 to give: imparting valuable lessons to our children (20:05) - how to talk to our kids about giving (25:56) - reason #3 to give: networking & entrepreneurship (29:00) - reason #4 to give: financial benefits (33:20) - numerical example of transferring appreciated stock from your corporation (35:30) - how to make your charitable gifts more meaningful (39:30)
Ep#76: Optimizing Finances for our Kids' Education - RESPs & beyond - with Dr. Matt Poyner
01:05:07
Today I host my friend & colleague, Dr. Matt Poyner. Matt breaks down the Registered Education Savings Plan (RESP) & other ways to optimize finances when it comes to our kids' education.
Matt is a long time blogger at dividendstrategy.ca, physician, & is now passionate about offering flat fee financial planning.
Discussion Points: - Matt's journey & foray into financial planning (2:34) - Basic RESP overview (14:15) - RESP set up - family vs specified (21:05) - Optimal RESP contribution strategy (23:09) - Investing approach inside an RESP (31:32) - RESP withdrawals & understanding the RESP buckets (37:26) - RESP options if your child doesn't go to school (44:00) - Thoughts on optimizing student financial aid (48:44) - Spending time with the kids - Matt's perspectives (57:50)
Ep #77: Unpacking My Biggest Life & Money Lessons - My Wife, Sima Acharya, Interviews Me
00:56:22
Today is a little different on beyond MD. My incredible wife, Sima Acharya, interviews me to uncover money & life lessons I've learned over time. Plus, we talk about lessons we've learned as a couple.
Discussion points: Sima's introduction (2:00) Starting an idea - how & why beyond MD came to be (6:15) Your spouse doesn't have to be a sounding board for everything (11:45) The biggest lessons learned over time (13:50) What concepts from the pod have I put into practice? (21:40) What podcast topics have I intentionally avoided today? (27:59) Lessons for the kids (33:00) Our evolution when it comes to being aligned financially (35:50) Most memorable beyond MD episodes (42:50) My 3 favourite books (45:50) My dream podcast guests (49:00) Future ideas for beyond MD (50:50)
Ep #78 - Real Estate: Converting Equity to Cashflow Though Toronto Multifamily Investing with Matthew Lee & Ming Lim (Volition Properties)
01:06:48
The idea for today's pod was born after a riveting conversation on a flight to Florida. I'm happy to host Matthew Lee & Ming Lim from Volition Properties to learn how they've built wealth through investing in multifamily properties in the Toronto core.
Discussion Points: - Introductions - worth it, I promise (1:30) - Introduction to Volition (8:15) - The investment thesis for multifamily in Toronto (10:35) - Investment locations (19:50) - Why tenants are so critical to the business model (23:45) - Are there opportunities currently in Toronto? (25:30) - What about areas outside the city core primed for more gentrification? (29:55) - How do you turn properties into meaningful cash flow later? (33:30) - The numbers behind a recent deal (44:55) - How many properties does one need to exercise this strategy? (48:10) - Price per square foot, the reason for 2-3 bedroom suites (51:00) - 101 on laneway suites & the status quo in Toronto (53:20) - Parting words (1:01:15)
Ep #79 - Embracing New Opportunities, Taking Risks, & Maximizing Impact with Dr. Neel Chadha - beyond MD Physician Journeys
00:34:27
Today I'm thrilled to host Dr. Neel Chadha. Neel is a family physician who made the bold decision to go all in on developing retirement residences for seniors.
This is a story of embracing new opportunities, taking calculated risks, & pursuing a focused life to find success.
Discussion Points: Introduction (1:35) From family medicine & geriatrics to developing senior homes (5:15) Neel's decision to leave the hospital & go all in on senior living (6:55) Neel's retirement residence community (9:35) Senior living in Canada - status quo, supply/demand (12:00) Investing in senior living - key metrics to track (16:25) Navigating interest rates & other challenges in 2023 - key takeaways (18:42) Why a focused life is critical for success (23:30) The importance of mentorship (26:05) What Neel wants to be known for (30:25) Closing remarks (31:10)
Ep #80: The Relevance & True Cost of CPP (Canada Pension Plan) for Small Business Owners - with Aravind Sithamparapillai
00:51:50
Today I welcome Aravind Sithamparapillai (MBA), who is an associate at Ironwood Wealth Management. Aravind is becoming known as a tax ninja - he breaks down complex topics nicely for listeners of all levels.
While the focus of this episode is meant to be CPP (Canada Pension Plan) & its relevance to business owners, we cover a lot of ground that includes salary vs dividends & tax basics.
Discussion Points: Aravind's background (4:18) The basics of tax integration (5:00) Tax integration by province/territory (6:42) Tax credit & deduction on the employee portion of CPP (9:16) Employer portion of CPP - tax deductible (14:13) What is the true cost of CPP? (16:30) Understanding the dividend gross up & dividend tax credit (22:05) Income based benefits that can be impacted by the dividend gross up (26:15) CPP vs investing yourself in the corporation (31:13) Salary + dividend vs salary only approach (39:10) What about the IPP (41:35) Other CPP benefits - disability, children, survivor (43:30)
Ep #83: What factors impact returns when investing in real estate development? - with Sasha Cucuz, CEO of Greybrook Securities
00:56:28
Today I welcome back Sasha Cucuz, CEO of Greybrook Securities.
The focus today is to understand the variables impacting the margins (& expected returns) on investments in real estate development.
Discussion points: - Greybrook's high rise model (2:19) - understanding the value of land (3:30) - what variables are controllable? (9:25) - the outlook for pre-construction condos (15:25) - how are margins impacted for condo projects? (24:25) - has the southern Ontario investment thesis changed? (31:15) - the anatomy of a USA value add project (37:50) - what areas excite Greybrook in the US? (48:04) - closing thoughts (53:02)
Ep #81 - Forever episode: Traveling the World Affordably by Optimizing Credit Card Points with Ricky Zhang
01:06:25
Hey gang - this is a re-release of one of the most popular episodes ever.
Not out of laziness, but because several listeners have reached out to ask about which credit cards will allow them to elevate their travel game.
There's no better time than the start of the new year to talk travel :)
I interviewed my guest, Ricky Zhang (founder of Prince of Travel), in the summer of 2023. Most of what's discussed here is still very relevant today.
CRITICAL: In the conclusion I summarize key changes you will want to know before you sign up any cards.
Summary: Ricky's background & the origin of Prince of Travel (5:05) How does the points system work? (8:27) Earning points rapidly through credit cards (12:34) Credit score fundamentals (20:27) Should we keep our credit cards for the long term? (24:00) The credit card game isn't for everyone - who should avoid it? (28:14) Other ways to rack up points at a faster pace (33:00) The best credit card for Canadians: Amex Cobalt (34:07) Credit cards for small business owners, why Amex points are so versatile (35:05) Understanding the RBC Avion point system (38:24) Redeeming points efficiently, dynamic pricing, ideal booking windows (41:07) Example of redeeming points - Toronto to Portugal (46:46) Prince of Travel Concierge services (51:27) Aeroplan elite status (53:35) How to get started (55:00) Rapid fire, including a strong credit card portfolio (56:39) How many credit cards does Ricky have? (60:18) Closing thoughts (61:40) CRITICAL - updates on rewards (62:49)
Ep #82 - 11 Powerful Productivity Hacks for 2025 and Beyond
00:27:28
I've become fascinated with productivity over the last 2 years because it's another tool in our kit to effectively increase the time we have in our lives, so that we can live life on our own terms.
I share my experiences over the years & key learnings from 4 of my favourite productivity books (see below).
Discussion Points: - why I'm fascinated by productivity (0:40) - hack #1: set your goals & write them down (1:55) - hack #2: figure out your next action step (4:18) - hack #3: plan & structure your day (6:22) - hack #4: cluster your tasks (9:33) - hack #5: deep work & avoid task switching (11:21) - hack #6: tackling technology & optimizing your environment (15:14) - hack #7: figure out how to capture your ideas (18:14) - hack #8: create an accountability partner (20:14) - hack #9: being productive while you rest (21:57) - hack #10: make it fun (24:04) - hack #11: embrace the 2 minute rule (25:25) - the 4 books I cited in this episode (26:28)
Ep #84 - What happens if I get sued as a physician in Canada? With Dr. Todd Watkins, Associate CEO of the CMPA
00:46:13
This is a big one - what happens when we receive a malpractice claim? Medicine is a challenging field with high stakes. We all know colleagues who have been in this situation.
I'm thrilled to welcome Dr. Todd Watkins, associate CEO of the CMPA (Canadian Medical Protective Association) for a 101 on what to do & what to expect if we get sued.
Discussion Points:
Dr. Watkins' intro (2:18) What is the CMPA (3:05) How would you hear about a case against you? (6:02) What information is on a statement of claim (8:02) Timelines for a valid malpractice claim (10:30) Knowledge of events vs cause of action (12:30) What should you do when you get a claim? (16:45) How the CMPA offers support during this time (19:47) Are the lawyers internal or external? (21:13) Can one pick their own lawyer? (21:53) Who covers all the legal fees? (22:38) Occurrence based protection & alternatives (23:03) The key elements of the pre-trial process (25:27) Expert witnesses (27:11) Mediation (29:53) Key data points, what % of cases go to trial (31:39) What happens behind the scenes at the CMPA (34:37) Court set up (35:57) Financial damages - who pays? (37:28) Appeals (38:40) Dues (39:32) Residents/trainees - can they be implicated of malpractice (41:05) Closing thoughts (43:00)
Ep #85 - Creative pursuits, using your knowledge to impact others, & finding fulfillment in medicine, with Dr. Michael Fralick
00:46:23
I'm delighted to welcome back my friend and colleague, Dr. Michael Fralick, MD, PhD.
Mike is a creative spirit and has a knack for finding opportunities to positively impact others through his knowledge & expertise.
He is a clinician scientist, runs the Fralick lab (which covers the intersection of AI & patient care), and last year published his first book & launched his internal medicine review course.
I hope you enjoy this conversation which covers creativity, productivity & time management, and how to use our knowledge to drive impact & find meaning in medicine.
Discussion Points:
- Mike's book --> One Pagers for the Wards (1:40)
- Finding time for creative pursuits & balancing competing demands (7:05)
- Mike's motivation for writing the book (11:15)
- Mike's time management & productivity strategies (15:30)
- Strategies for navigating emails (23:00)
- Things to know if writing a book (27:35)
- Lessons learned from Mike's course - updates in inpatient medicine (31:10)
- Goals for 2025 (39:36)
- The most important lesson Mike has learned (42:48)
The wisest investment: raising money-smart kids, with Robin Taub, CPA
00:56:53
Today's interview features best selling author, Robin Taub. Robin's book is The Wisest Investment: Teaching Your Kids to Be Responsible, Independent and Money-Smart for Life
Robin is CPA by training & started her career at KPMG, pivoted into real estate, & then entered the complex world of derivatives marketing at Citibank Canada. Today, she’s a keynote speaker & award-winning author.
Robin lives in Toronto, where she and her husband have raised two (mostly) money-smart young adults. She loves to snowboard, cycle &go to concerts (she even got backstage once and met Bruce Springsteen).
This episode is full of tips & stories relevant to parents with children of all ages.
Discussion Points:
- Robin's background (3:23)
- how to answer early questions about money (8:10)
- are cash and piggy banks still a good idea? (11:22)
- how parents can teach their kids - anchoring on values (15:40)
- the marshmallow test, delayed gratification, & SMART goals (19:45)
- allowance systems (24:15)
- when to open a bank account for kids (27:35)
- teachable moments (28:35)
- budgeting - a good idea? (32:30)
- what can kids learn from getting a job? (37:25)
- social media & comparison/consumption/birthday parties (42:25)
- how to talk to kids about compound interest (51:10)
Medical professionals typically begin earning later than their peers and are usually not adequately exposed to financial topics during training. Beyond MD is led by Dr. Yatin Chadha and guided by expert analysis. Each episode, Yatin interviews accountants, lawyers, brokers and advisors to heighten awareness on important topics like professional corporations, holding companies, estate planning, insurance policies, and investing. It's time to take your financial knowledge base to the next level so you can get ahead outside of the workplace. Please send questions and topics of interest to Beyondmdpodcast@gmail.com.
03 Sep 2020
Fundamentals of professional corporations with Ali Spinner
00:51:50
Yatin Chadha interviews Ali Spinner, accountant from Crowe Soberman specializing in tax matters. Topics include when to incorporate, salaries vs dividends, passive income, structuring corporate investments, RRSPs vs corporate investments, and pearls including ways to use corporate funds in a relatively tax friendly manner.
30 Sep 2020
Insurance part 1 - disability and life insurance with Joe & Kristen Fazio
00:54:17
Yatin Chadha hosts Joe Fazio and Kristen Fazio from Professionals' Insurance Centre to discuss disability and life insurance policies (including whole life insurance). Joe Fazio has been in the insurance industry since 1981 and has developed a thorough understanding of the financial needs for physicians, which is his primary area of focus. Kristen Fazio has dedicated her career to educating young medical professionals and focuses on providing customized recommendations to her clients beginning in medical school all the way through to retirement. Please note, the content in this episode is very relevant to all professionals, including non-physicians. The discussion includes understanding important riders in disability insurance policies, understanding the factors at play when deciding how much term life insurance to purchase, and better understanding the components of whole life insurance (including universal life insurance) and when these products are useful. Please send any questions or topics of interest to beyondmdpodcast@gmail.com.
26 Oct 2020
Corporate investments - optimization and taxation with Jamie Golombek
00:40:09
Dr. Yatin Chadha interviews Jamie Golombek, managing director of tax and estate planning from CIBC. Jamie Golombek is a very well respected voice on personal and corporate tax matters for professionals. Topics covered: corporate vs RRSP investing, how to structure corporate investments for tax efficient returns, tax treatment of various types of corporate investment income (including foreign income), ways to work around the new passive income rules for corporate investment income, and more. Have you had the following questions: where should I be holding foreign dividend earning stocks and should I be paying out Canadian dividends from my corporation? Also more on the prescribed rate loan. Direct any inquiries to beyondmdpodcast@gmail.com
25 Nov 2020
Mortgage Basics with Elan Weintraub
00:43:38
Yatin Chadha hosts Elan Weintraub, co-founder and director of the Mortgage Outlet, one of the largest private mortgage brokerages in Canada and recipient of numerous industry awards. Elan is known for his no-nonsense straight talk and discusses the following: advantages offered by brokerages, forces influencing mortgage rates, current rate environment and when changes may happen, factors to consider when deciding on variable vs fixed mortgages, what to expect when converting a variable rate to fixed, HELOCs (home equity line of credit), updates in the mortgage world, and considerations to keep in mind when deciding whether to break a mortgage and lock in a new rate.
17 Dec 2020
Investing principles - the stock market
00:55:36
2020 will go down in history for many reasons, including the fastest bear market and recovery for stocks. There are many lessons to be learned.
Yatin Chadha interviews Andrew Iu from Burgundy Asset Management. Andrew manages the firm's small cap fund and builds and develops the firm's team of analysts in his role as research director. Andrew is also a former analyst at Goldman Sachs.
Topics covered include: - current market trends, including impact from Covid-19 and valuation - the role of bonds - investing in ETFs vs stock picking - how to evaluate a company - pearls for dividend investing - common mistakes by DIY investors - considerations for investing beyond the S&P500 - investing themes for the future
14 Jan 2021
The stock market - investing strategies
00:49:47
Yatin Chadha interviews 2 former colleagues, Dr. Aaron Hall and Dr. Khalil Jivraj, both of whom are successful DIY investors.
Aaron has been investing since before the dot-com bubble and uses only 3 ETFs. Khalil's approach incorporates stocks and ETFs.
Points covered: - the importance of minimizing investment fees - the power of passive ETF investing - factors to consider when picking an ETF - basic strategies for holding individual stocks - certain pitfalls of stock picking - lessons learned from March 2020 - lessons learned from the financial crisis - biggest winners, losers, lessons - useful resources and advice for DIY investors
Please send any questions to beyondmdpodcast@gmail.com
11 Feb 2021
RRSPs for incorporated small business owners with Tim Cestnick
00:44:52
Dr. Yatin Chadha hosts Tim Cestnick, FCPA, FCA, CPA(il), CFP, TEP, to discuss RRSPs for incorporated small business owners.
Tim Cestnick is well known as one of Canada’s most respected voices in tax, personal finance, and wealth management. He is CEO and co-founder of Our Family Office, a leading wealth advisory firm for high earning Canadians. Tim writes a weekly column in the Globe and Mail called "Tax Matters".
Topics discussed:
- big picture: do incorporated professionals benefit from RRSPs? - ideal assets for RRSPs - RRSPs vs IPPs (individual pension plans) - spousal RRSPs - pros and cons of RRSPs - unique RRSP strategies - common RRSP mistakes - in kind RRSP contributions
Dr. Yatin Chadha hosts Sue Ennis, head of investor relations at Hut 8 mining corporation. Sue has 4 years of dedicated experience in the crypto space with previous roles at Shyft Network (senior vice president, global partnerships) and Coinsquare (director).
The aim of the episode is to help listeners gain basic knowledge of bitcoin, its emerging role in the financial industry, and understanding it as a potential investment.
Disclaimer: I do not provide investment advice, nor do I tell anyone to invest in cryptocurrency. Please conduct your own due diligence :)
Episode covers:
Crypto 101 - what is bitcoin? - what are the benefits of bitcoin? - factors driving demand - blockchain fundamentals - is bitcoin scalable? - which areas in the world is bitcoin acceptance accelerating fastest? - will bitcoin accompany fiat currencies or eventually replace them?
Bitcoin headwinds/challenges - competition from other cryptocurrencies - security/hacking - government intervention/regulation - impact of digital currencies - impact of tether stablecoin - illicit activity (myth?)
Bitcoin mining - understanding the business model - streams of income - hut8 vs other miners - is mining centralized (myth?) - mining carbon footprint
Investing in bitcoin - coin exchanges - roboadvisors, ETFs, fees - proxies for getting into bitcoin (miners etc) - security issues, wallets
08 Apr 2021
The Individual Pension Plan (IPP)
00:36:57
Dr. Yatin Chadha hosts Jean-Pierre Laporte, BA, MA, LLB, RWM, CEO at Integris Pension Management Corp to discuss Individual Pension Plans (IPP)
This is an under-discussed topic in personal finance and is highly relevant to all incorporated professionals.
The discussion includes:
General
- overview
- eligibility, ideal candidate
Funding and Tax Advantages
- work around for passive income rules
- increased contribution room relative to RRSP
- tax deduction for investment management fees
- access to additional investment instruments
- special payments
- terminal funding
- income splitting
- rolling over the RRSP into IPP
Limitations
- age
- cost
- diversification rules
15 Apr 2021
PPP - Personal Pension Plan
00:43:58
Dr. Yatin Chadha hosts Jean-Pierre Laporte (CEO Integris Pension Management Corp) to discuss the personal pension plan (PPP).
This is highly relevant and under discussed material for any incorporated professional/small business owner.
Age benefit of PPPs (no need to wait until age 40) - ability to contribute to DC and AVC accounts before age 40
Additional tax sheltering advantages compared to IPP - RRSP double dip - flexibility in contributions through DC and AVC accounts - ability to make contributions even when DB account is in surplus - benefit/strategy of holding low yielding investments in the DB account (accruing special payments) - benefits of PPP in wealth transfer/estate planning
Fiduciary oversight with PPP
Why the PPP is under discussed in personal finance
06 May 2021
Physician start up - Arya EHR (electronic health records) with Dr. Richard Sztramko
00:47:16
Dr. Yatin Chadha hosts Dr. Richard Sztramko, co-founder of Arya EHR (electronic health records).
Arya EHR is a rapidly growing Canadian health technology company focused on providing innovative and user-friendly EHR and telemedicine services for Canadian hospitals and clinics.
Richard Sztramko's fellow co-founders are: - Dr. Sam Gharbi, general internist (BC) - Dr. Richard Vandegriend, cardiologist (Royal Columbian Hospital)
There are many lessons and sources of inspiration from the success stories of our colleagues. Topics covered in the interview: - Arya EHR: basics, services offered - current issues facing EHR - Vision and mission behind Arya - How Arya can reduce cost and enhance efficiency - Having a business idea vetted - Process of establishing a team - Financing a business venture - Mistakes, lessons learned - Balancing business with medicine and family life - Advice for entrepreneurs
03 Jun 2021
MICs - Mortgage Investment Corporations with Arjun Saraf
00:54:50
Dr. Yatin Chadha interviews his good friend, Arjun Saraf, CPA, CA, EMD, who is VP Finance and Mortgage Admin at New Haven Mortgage Corporation.
The topic is mortgage investment corporations (MICs). Arjun Saraf has more than 10 years of experience in the MIC space and is an expert on the topic.
https://www.newhavenmortgage.com/
This is the first of many episodes dedicated to alternative investments.
Discussion points: - what is a MIC? - MIC vs private mortgage lending, pros and cons - understanding the borrowers - investment returns - distribution of returns, including DRIP (dividend reinvestment plan) - withdrawing funds from a MIC, considerations - risks of a MIC - checklist of criteria when considering a MIC - Covid-19 risks/considerations
Feel free to reach out to me on LinkedIn or beyondmdpodcast@gmail.com.
24 Jun 2021
Demystifying Investment Costs - Part 1
00:35:13
Have you ever wondered exactly how much your investments cost?? Welcome to part 1 of demystifying investment costs.
This episode focuses on investment costs associated with mutual funds and will provide the fundamentals for the follow up episode that will discuss ETFs.
Dr. Yatin Chadha interviews Leanne Mamchur, CFA, CFP, FMA from CIBC. Leanne has 19 years of experience advocating for private clients. She is passionate about demystifying the cost structure in Canadian Wealth Management (and is in fact writing a book that covers this topics).
Please see links towards the end for Leanne's article (nicely summarizes investment costs) and bio.
In this episode we discuss:
- CRM-2 (client relationship model) and impact on financial industry
I begin by discussing a personal investment decision (ETF) from 2018 (begins at 2:40). I wasn't completely informed at the time, but it has fortunately worked out. Check out http://beyondmdpodcast.com/?p=781 for full details.
Episode Interview Topics: - MER, TER (7:40) - bid-ask spread, practical considerations (10:00) - swap-based ETFs, potential benefits, considerations (14:48) - robo-advisors (22:40) - alternative cost structures (beyond % of assets under management) (30:32)
Galen Nuttall, M.Ed, CFP joins Yatin Chadha to discuss financial literacy as it pertains to Canadian physicians.
One of Galen's top interests as an experienced planner is helping incorporated small business owners, including doctors, create their own pensions using their professional corporation.
Discussion points:
- survey part 1: 58% of Canadian physicians said they were confused about where to start with financial planning and didn't know who to trust
- survey part 2: 80% of Canadian physicians said they were not at all or only somewhat confident that they were using their corporation efficiently
- navigating various financial advisor designations (CIM, CFP, CFA etc)
- what questions to ask a financial planner
- the connection between financial literacy and wellness
- basic mechanics of corporation efficiency
- what Galen brings to the table.
Galen has many useful resources for Canadian physicians: - website: https://www.galenhelpsdocs.com (includes financial literacy challenge) - https://www.galenhelpsdocs.com/webinar (recent webinar for incorporated MDs, replay available soon - YouTube Channel: Canadian whiteboard finance - Podcast: A Clean Bill of Wealth
27 Aug 2021
Real Estate Investing - a Physician's perspective
00:59:41
Yatin Chadha hosts Dr. Kevin Mailo, an Emergency physician from Edmonton, AB and co-founder of Physician Empowerment.
Physician Empowerment is a physician-led venture helping other physicians with burnout, practice management, and financial literacy. Check their website for upcoming courses (with CME): https://www.physempowerment.ca
Kevin has abundant experience in direct ownership of real estate and provides his insights on real estate investing.
Discussion points: - introduction, Physician Empowerment (3:56) - tackling $300000 of student debt (9:18) - Kevin's summary of his real estate investments (12:25) - real estate: active vs passive (16:35) - finding tenants (26:17) - using a holding company (29:55) - evaluating real estate through the numbers (35:30) - tax efficiency (44:38) - what about downturns? (45:18) - mistakes (51:02) - variable vs fixed rates on your rental property (52:45) - advice (53:55)
Kevin Mailo can be reached at kmail@physempowerment.ca
21 Sep 2021
Introduction to Private Equity
00:35:10
Yatin Chadha hosts Ron Haik, MBA, CFP, CIM, TEP, senior financial advisor at Nicola wealth.
This is the second episode on alternative investments, this time focusing on private equity.
Yatin and Ron discuss:
What is private Equity (PE)? (4:40)
Differences between investing in PE & public markets (5:08)
Various (Nicola Wealth) funds (9:00)
Leveraged buy outs (11:45)
Credentials of (Nicola Wealth) fund managers (12:43)
Evergreen structure (14:55)
Understanding returns (16:53)
Potential returns vs stocks (21:50)
Downside protection? (23:45)
PE investment time horizon (25:30)
How companies are evaluated (26:40)
PE investment example (28:04)
Risk/what can go wrong (30:23)
General advice (31:40)
Questions for PE firms (33:23)
19 Oct 2021
RCA - Retirement Compensation Arrangement
00:38:54
Yatin Chadha hosts Sophie Cournoyer (FCIA, FSA, MBA, CFA) to discuss the retirement compensation arrangement (RCA).
The RCA is a lesser known retirement savings plan that can be relevant for incorporated professionals with substantial salary (T4 income).
Connect with me on LinkedIn or at beyondmdpodcast@gmail.com
We discuss: 1:08 - My intro to RCA 3:25 - our guest, conflicts on interest 4:40 - what is an RCA? 9:22 - differences between RCA and IPP 13:25 - basic features (governing body, creditor protection, tax deductions, tax deferral, buy back of past service, no impact on RRSP contribution room, considerations for income splitting) 16:53 - basic RCA structure (2 accounts: Investment account & Refundable Tax Account) 18:29 - basic RCA mechanics 20:13 - Sophie talks about eligible investments (very few restrictions) 21:28 - Example: depositing $50,000 into RCA - what happens 23:10 - Examples: what happens to interest income & realized capital loss in the investment account? 24:18 - RCA tax efficiency (and inefficiency) 25:30 - potential benefit of RCA when retiring in low tax jurisdiction 26:18 - RCA and passive income rules 27:55 - RCA - any issues with excess returns? 29:15 - wealth transfers, what happens at death? 30:47 - RCA Cost - set up and maintenance 33:30 - what can go wrong with an RCA 35:15 - my summary (and room for DIY)
16 Nov 2021
Real Estate Investment Trusts (REITs)
00:49:24
Dr. Yatin Chadha hosts Sanjil Shah (CPA, CA) to discuss REITS with a focus on Alignvest Student Housing REIT (ASH REIT).
Sanjil has extensive experience in real estate and is the managing partner for ASH REIT, which is striving to consolidate purpose built student accommodations (PBSA) across various Canadian university markets.
Website: https://www.alignveststudenthousing.com/
We discuss: - REIT tax (in)efficiency (1:12) - Sanjil's background (5:52) - about Alignvest Student Housing REIT (8:21) - target markets (10:25) - what is a REIT? (13:25) - REIT pros/cons (15:29) - types of REITs (19:10) - returns, distributions, tax efficiency, return of capital (24:20) - is real estate an inflation hedge? (29:08) - RE macro outlook (32:08) - trends in student housing (36:25) - student housing talwinds/headwinds (38:05) - challenging REITs (43:35)
14 Dec 2021
Personal Finance for Medical Trainees with Dr. Stephanie Zhou
01:05:03
Yatin Chadha interviews Dr. Stephanie Zhou, MD.
Stephanie practices Addictions Medicine at Sunnybrook Hospital in Toronto. She is passionate about financial literacy & diversity and inclusion, and is well known for bringing financial education to medical school curriculum at the University of Toronto.
Stephanie is a strong advocate for equalizing student knowledge when it comes to personal finance. She blogs regularly about personal finance on Instagram (& YouTube) @breakingbaddebt.
Topics of discussion - what motivated her to bring financial education to the curriculum (3:35) - trends - lines of credit, leveraged investing (9:05) - incorporation - rationale & considerations for when (20:00) - the power of frugality (35:30) - budgeting basics (41:39) - investing approach (51:48) - rapid fire (59:00)
Reach out to me anytime on LinkedIn or at beyondmdpodcast@gmail.com.
07 Jan 2022
Life and Financial Lessons
00:25:21
Thank you for joining me on my first solo episode! :)
This episode is a covers my journey to this point & highlights key professional, financial, and personal lessons from my past, including mistakes.
Remember, mistakes should be viewed as learning opportunities, not viewed as regrets.
This episode is dedicated to my late father-in-law, Mahen Acharya, a remarkable individual. At the end of the episode I share what I learned from him.
Topics: - my background/journey (1:10) - professional, personal and financial lessons from San Diego (4:35) - financial lessons and mistakes in Calgary (10:25) - major take home points - marriage, delayed gratification, & lessons from Mahen (18:00)
Reach out anytime on LinkedIn or beyondmdpodcast@gmail.com
27 Jan 2022
Evidence Based Investing with John Stocking
00:58:51
Yatin Chadha, MD hosts John Stocking, PFP, CIM, CIWM.
John Stocking has almost 20 years of experience having worked in private wealth management both in Canada and overseas & with 3 Canadian banks.
More recently, John succeeded in launching his own independent financial advice firm "Evidence Based Finance", through which he offers financial planning, DIY coaching, or comprehensive wealth management, or all of the above for a single flat fee.
Website: https://evidencebasedfinance.ca/
Topics: - evidence based investing basics (8:47) - five factor investing (13:44) - evidence based finance (37:45) - why it can be so hard to follow evidence/your plan (49:37)
Factor investing subtopics: - basics, growth vs value, ETF considerations, uncorrelated returns, downside protection?, historical data (US, Japan), long term mindset, practicality
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