EPISODE SUMMARY

Is it possible to have a perfect RRSP strategy?  Well it depends.... In this episode, I'm joined by my colleague, Jordan Arndt, and we discuss the situations where an RRSP can provide the most value to you as a long-term investor.

Build your financial plan with Evan


✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST


TOPICS IN THIS EPISODE

1. RRSP contribution deadline 
2. RRSP definition and details 
3. Options with your RRSP refund 
4. Determining whether the perfect RRSP strategy exists 

RESOURCES MENTIONED

Government of Canada - RRSP Information

EY Tax Calculator and Rates


OTHER EPISODES

13. Is an RRSP the Best Choice for your Retirement Savings

25. Reduce Taxes with a Spousal RRSP 

29. RRSP, LIRA, TFSA…Where do you Withdraw From First?


If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

Inflation is the story of the day so in this episode, Jordan Arndt and Evan discuss some possible reasons why inflation is so bad right now and what we can do about it.

✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST


TOPICS IN THIS EPISODE

1. Inflation - how does it happen
2. Slowing down inflation 
3. Central banks and monetary policy 
4. What can we actually do about it as investors and citizens  

OTHER EPISODES

27. Will you Have any Guaranteed Sources of Income in Retirement 

45. Why you Should Care About Rising Interest Rates


If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

This episode deviates from the usual cadence but is timely given the conflict emerging today between Russia and Ukraine.  Evan walks through some thoughts that he shared in an email update to his clients. 

✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST


TOPICS IN THIS EPISODE

1. Living, and specifically investing, in “uncertain” times 
2. How the stock market has historically reacted to wars 
3. Typical mistakes to avoid during corrections and crashes 
4. Staying informed of world events, but with context
5. How you can think of the conflict in light of your investment portfolio and retirement savings

OTHER EPISODES

37. Dips, Corrections and Crashes

45. Why You Should Care About Rising Interest Rates 

47. Guide to Recessions and Bear Markets


If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

On this episode we welcome back Luke Hergott, Senior Manager of tax services at EY.  Luke brings a wealth of knowledge regarding tax so I would encourage you to listen to this episode prior to filing your return for this year.

Build your financial plan with Evan


✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST


TOPICS IN THIS EPISODE

1. Opportunities for tax planning as an employee vs business owner 
2. Defining deductions and credits 
3. Refundable vs non-refundable credits 
4. Understanding the deductions and credits that are available for you to access

RESOURCES MENTIONED

EY Tax Calculator and Rates


OTHER EPISODES

7. Tax Basics and “The Next Bracket” Myth 

14. How to File Your Taxes in 2021 Featuring Luke Hergott, CPA


If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

If you're thinking about a short getaway or a longer trip to relieve your cabin fever, start planning right away.
 
 In this episode, Jordan and Evan discuss ways that your vacation can go from a dream to a financial nightmare.  The good news is that planning ahead with some of our tips will make sure that you can spend your vacation relaxing and having fun instead of worrying about your money.

✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST


TOPICS IN THIS EPISODE

1. Memorable vacations 
2. Planning for a vacation - things to consider 
3. Typical costs you might incur on a vacation 
4. Currency considerations
5. Budget planning spreadsheet for your download 

RESOURCES MENTIONED

Evan Neufeld Downloads - Vacation Planner Spreadsheet


OTHER EPISODES

2. Credit Cards - Pros, Cons and Strategies 

5. Budgeting for People Who Hate Budgeting 

11. Money & Marriage - From the Sask Wedding Podcast w/ Matt Ramage


If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

This episode won't be able to make the decision for you, but today Evan and Jordan offer some food for thought when making the choice on whether to rent or buy.  Hopefully Evan and Jordan can help you be confident in your decision.

✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST


TOPICS IN THIS EPISODE

1. Why this is a relevant discussion in 2022 
2. As house prices between more expensive, what are your options 
3. What factors should you consider for renting 
4. What factors should you consider for buying 
5. How do you compare the two options and make a decision 

RESOURCES MENTIONED

Your city’s typical rent cost 

Your city’s average home price


OTHER EPISODES

12. Buying a House Featuring Kindra Sowden 

44. How to Help Your Kids Buy a Home


If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

In this episode, Evan talks about the things you would want to consider before helping your kids with a downpayment to buy a home.

✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST


TOPICS IN THIS EPISODE

1. Why this is a relevant discussion in 2022 
2. The oxygen mask principle 
3. From the parent perspective, could you help your kids? 
4. Should you help your kids? 
5. How do you help your kids 

OTHER EPISODES

12. Buying a House Featuring Kindra Sowden 

43. Should you Rent or Buy a Home 

If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

Interest rates are going up and in this episode, Jordan Arndt and Evan discuss what that means for you and why you should care.

Build your financial plan with Evan


✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST


TOPICS IN THIS EPISODE

1. Setting the stage - interest rates are rising 
2. What happens when interest rates rise 
3. How does that affect you 
4. How does that impact your investment portfolio 
5. Should you care about rising rates? 

RESOURCES MENTIONED

Bank of Canada - Policy Interest Rate


OTHER EPISODES

37. Dips, Corrections and Crashes

39. Why do Prices Keep Going Up 

47. Guide to Recessions and Bear Markets


If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

Jordan Arndt takes the lead in this episode to discuss some unique ways that you can give to charity to maximize your tax savings and maximize your charitable gifts.  If you have questions for Jordan, please feel free to email him at Jordan@ennsbaxter.com

Build your financial plan with Evan

✅ DOWNLOAD MY FREE RETIREMENT READINESS CHECKLIST

TOPICS IN THIS EPISODE
1.  Donating stocks, mutual funds or ETFs
2.  Donor-advised funds and why they could be a better option than a personal foundation
3.  Making gifts of life insurance 

OTHER EPISODES

7. Tax Basics and “The Next Bracket” Myth 

14. How to File Your Taxes in 2021 Featuring Luke Hergott, CPA

41. Reduce Your Taxes with Deductions and Credits

If you enjoy listening to the podcast, please leave a 5-star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

You've likely seen headlines or articles talking about recessions or bear markets.  While these things might make you nervous, I have you covered to make sure you can continue to invest smarter, reduce taxes and retire with confidence.  Download the FREE PDF guide here:

Guide to Recessions and Bear Markets 

Build your financial plan with Evan

TOPICS IN THIS EPISODE

3:32 - What is a recession?

6:54 - What is a bear market?

8:53 - Are recessions and bear markets connected?

11:34 - Preparing for a recession

14:11 - Investing through a bear market

16:41 - Do More

21:28 - Do Less

25:23 - Do Nothing

28:42 - The Good News

RESOURCES MENTIONED

✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST

OTHER EPISODES

Dips, Corrections and Crashes

Why you should care about rising interest rates

If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

In our first book review on the podcast, Jordan and Evan provide their thoughts and key takeaways from Nick Maggulli's book, Just Keep Buying.

Build your financial plan with Evan

✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST

TOPICS IN THIS EPISODE

What did we like about the book?

When is saving more important that the specifics of your investments?

How to spend without feeling guilty

How much to invest

How much of your raise should you be saving?

Why you shouldn't be fearful of volatility

Investing in bear markets and reframing the upside opportunity

Why you'll never feel rich and why money isn't everything

RESOURCES

Nick Maggulli's blog Of Dollars and Data

OTHER EPISODES

Guide to Recessions and Bear Markets

Dips, Corrections & Crashes

How can money make you happier? A conversation with Andrew Hallam

If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

After two years, I think it is time to say hello and tell my story of why I started this podcast.  

I've always been inspired by Teddy Roosevelt's speech about the value of being the "man in the arena" which highlights the risk takers over the critics and the people who try to create something of value despite imperfection.  So starting this podcast was my version of sticking my neck out to try to bring value to people despite being a young financial planner and having no experience in audio or content production of any kind.

Podcasting is hard and kind of scary sometimes but it is also a lot of fun.  Based on the feedback I've received about how the podcast has improved people's financial lives, it has totally been worth the effort and the risk. Mistakes, voice cracks, vision changes etc. have all been part of the process of building this podcast but I appreciate each and every one of you for listening and sharing with your friends.

More to come!

✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST

Build your financial plan with Evan

OTHER EPISODES

If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

More and more people are borrowing money to invest in stocks, crypto and real estate. Should you be using leverage to do the same?

Build your financial plan with Evan

✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST

TOPICS IN THIS EPISODE

- What is leverage?
- How you might be using leverage already
- Why is this relevant today?
- The risk and opportunity with leverage
- Practical considerations before you borrow to invest

OTHER EPISODES

Why you should care about rising interest rates

Reduce your taxes with deductions and credits

If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts or Spotify

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

Whether you find a new job, retire or are laid off, if you have a pension or savings plan at work, you'll have to make some decisions about what to do with it.

You have to know what type of plan you have, what options are available for that plan and then what makes sense for you based on your financial goals and timeline.

Build your financial plan with Evan

OTHER EPISODES

The Perfect RRSP Strategy

If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts or Spotify

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

EPISODE SUMMARY

In this episode, Evan and Jordan discuss dividend investing and some key items to keep in mind if this is a strategy you're wanting to consider.

Build your financial plan with Evan

TOPICS IN THIS EPISODE

- What are dividends?
- What types of companies typically pay dividends?
- Key dates to keep in mind
- Are dividends truly passive income?
- Yield traps and understanding the risks of dividend investing.

OTHER EPISODES

RRSP, LIRA, TFSA.... Where do you withdraw from first?

Stocks, Bonds or Cash? How do you decide?

If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts or Spotify

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

More people are making a point of being intentional with how their money is invested.  Focusing on environmental, social and governance (ESG) factors is one way that you can align your values with your investment strategy.  In this episode we discuss all things ESG including some concerns and whether we think ESG is just another gimmick.

Build your financial plan with Evan

TOPICS IN THIS EPISODE

1. What is ESG?

2. Benefits of an ESG investing strategy

3. Issues with ESG and whether it's just another gimmick

4.  Where do you find ESG investments?

OTHER EPISODES

Dividend Investing

If you enjoy listening to the podcast, please leave a 5 star review on Apple Podcasts or Spotify

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

There are a number of ways that an investor can get in their own way and fail to reach their goals.  Today, we discuss how to reduce these single points of failure to increase your chance of investment success.


Build your financial plan with Evan

TOPICS IN THIS EPISODE

1. Too much in any one country, sector or individual holding

2. Not enough upside potential

3. Speculation

4. Insurance

5. Spending habits

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Robin Taub joins us today to discuss her book The Wisest Investment and how we can raise money-smart kids. 

Jordan and I both have young kids so this topic has been on my mind recently.  As financial planners, we generally focus on retirees and business owner money issues instead of teaching the next generation about money so Robin's expertise was a great resource for us.

To purchase a copy of her book and to find access to all the other resources she mentions in the episode, please go to https://robintaub.com or https://www.thewisestinvestment.com to download a free excerpt from the book.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

This is a foundational episode on the topic of investing.  If you've ever wondered what "the market" really is or what an index is, this episode is for you.  I've heard from so many people that they feel embarrassed to ask some of these questions but they want to start investing. This episode is a great place to start to build your understanding of the stock market.

TOPICS IN THIS EPISODE

1. What is the stock market?

2. How does it work?

3. What is an index?

4. Which indexes are worth paying attention to?

Planet Money podcast about why you can ignore the Dow Jones

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

You've likely heard of active and passive investing but factor investing is somewhere in the middle.  Sometimes called "smart beta", the idea behind factor investing is isolating the specific characteristics of an investment that can lead to outperformance, lower volatility or specific outcomes compared to the market as a whole.

Build your financial plan with Evan

OTHER EPISODES
Dividend Investing

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Thank you for all of your questions! In this podcast I cover off a few recent ones:

1. Is now a good time to buy GICs?

2. Did I buy the wrong investments?

3. Should I sell and wait for the dust to settle?

4. What's happening with  credit card fees?

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

November is Financial Literacy Month in Canada and this week's episode is dedicated to that! We talk about the importance and benefits of financial literacy and then walk you through a quiz to see where you'd land on the literacy scale.

Of course, to help improve your financial literacy, please go back and listen to previous episodes of the podcast to learn more about the topics we discussed on this episode.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

There are plenty of landmines to avoid when it comes to your money but in this episode I talk about 7 critical mistakes you'll want to be aware of in your 30's.

If you're in your 20's, 40's, 50's or older, these are all relevant for you as well! But the decade of your 30's comes with unique challenges and opportunities that I wanted to focus on specifically.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Working with a financial planner can add significant value to your financial life. However, it might not always be as cut and dry as certain commercials or media members will have you believe!

Steven Guenther joins me today for an open conversation of some of the benefits of professional financial advice.


Contact Steven Guenther

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Thanks to all of you for listening in 2022! This year end episode covers a few things you need to know going into the new year related to TFSAs, CPP, tax bracket changes and the upcoming First Home Savings Account.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode, I introduce my upcoming series on developing your own investment approach.  Much like the weight loss advice of "eat better and exercise", I think we can get a bit more specific on understanding an investment approach beyond "just buy an index fund".  I have no problem with index funds whatsoever but this series will dig below the surface to help you understand what investment approach makes sense for you whether you work with an advisor or go with a DIY approach.

✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

The basic mix of stocks and bonds in your portfolio is often called your asset allocation. In this episode, I'll explain why it is valuable to understand the benefits of establishing your asset allocation and how you can determine a mix that works best for you. There isn't a right or wrong mix! The best portfolio is the one that you can stick with the longest.

This series will take you beyond the simplistic advice you've likely seen on the internet. It's not about making things more complicated, it's about giving you the full story so you can make the decisions that are appropriate for you.

Vanguard Asset Allocation Questionnaire

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

The next step in building your own investment approach is deciding when you want to make changes to your asset allocation.  Do you want to change when the market changes hoping to time the market (tactical) or do you want to maintain a steady allocation changing when your situation changes (strategic)?

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

This is probably the factor that will have the most impact over how you see investing and how you construct your portfolio. However, listen through to the end as I explain how Passive and Active shouldn't necessarily be seen as "one or the other" and more as a grid for how you see the investing world and how you implement it for yourself.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Some very influential people think that "diversification is for idiots". In this episode I cover why I think diversification is actually critical to your investment approach.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

A quick look at a few news items that caught my attention recently about the latest Bank of Canada rate increase, grocery price increases coming and layoffs in the tech industry.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode, I'm joined by Mark McGrath CFP®, CIM®, CLU® who provides a masterclass on all things corporations. If you're a small business owner, medical professional, engineer or on your way to becoming any of these, this episode will be a great resource for you.

If you'd like to connect with Mark, you can find him on Twitter, LinkedIn or by email at mark@sweeneybride.com.

Mark McGrath is a Wealth Advisor with Wellington-Altus Private Wealth. The information contained in this podcast is the opinion of the author. This content is for informational purposes only and is not intended as investment, tax or legal advice. Please contact your financial advisor for advice with respect to your personal financial situation and objectives. Wellington-Altus Private Wealth is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

This is the last instalment in my series on building your own investment approach and I highlight how you can adjust your portfolio to increase your expected returns over time; investing in small cap and value stocks.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

First episode of the month means another batch of New and Noteworthy.  I take a look at a survey from BMO that found Canadians feel like they need $1.7 million to retire and give some reasons why that may or may not be the "right" number.  Secondly, I review some research from Morningstar that looks at why investors' returns have been consistently lower (1.7% on average) than the funds and ETFs they invest in.

Canadians now expect to need $1.7M in order to retire: BMO survey

Mind the Gap 2022: A report on investor returns in the United States.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Short episode here about things you can do to start taking action on your finances to feel less overwhelm.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Some easy and some not so easy things you can do to maximize the value of your RRSP and to help you decide whether you should be using an RRSP in the first place.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

A bonus episode for all of you who aren't quite sure what has been going on with the banking sector in the US and specifically with Silicon Valley Bank.

For an "in the weeds" look at the situation, check out The Demise of Silicon Valley Bank by Marc Rubinstein.

Let me know what you think at hello@evanneufeld.com

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Andrea Hansen is the president of Sutton Benefits and Pension and is an expert in all aspects of workplace benefits plans.  She joins me on this episode to help us all understand what to be looking for if you're considering a new job or what questions to ask to better understand your benefits at your current employer.

If you are a business owner in SK or AB and would like to get in touch with Andrea regarding your total rewards, please reach out to her by email at ahansen@suttonplanning.ca or connect with her on LinkedIn.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

An honest discussion of some things I've done that are "dumb" on paper but made sense for my own situation.  

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

A roundup of some recent news items including the federal budget, oil price increases, minimum wage increases and a lawsuit against YouTubers promoting FTX.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Hot off the presses, the First Home Savings Account is a new account type that will help Canadians build a tax free down payment on their first home.  However, it is much more valuable than that and Aaron Hector walks us through all of the details and how to maximize the value of this new account.

Follow Aaron Hector on Twitter to keep up with more of his expert insight on finances for Canadians.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

The legal side of money is one most people don't spend much time on but it can have a massive impact on your loved ones.  Lauren Scharfstein is an estate lawyer at Scharfstein LLP here in Saskatoon and she walks us through how we can be proactive with estate planning (yes, even us "young" people)  so we can feel empowered and confident with our money. 

You can connect with Lauren by email at lscharfstein@scharfsteinlaw.com.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

To be a successful investor, you need to have a process for making investment decisions.  To be more specific, you need to have a good process. 

In this episode, I talk about some of the things you need to consider to make sure you have a good investment process that can be repeated over and over again.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode, we cover a range of topics sourced from some of the top posts on Reddit over the last month. We cover some of the considerations needed when you have a $1 million RRSP, the potential risks and benefits of leveraging an RRSP loan, and what to expect from RRIF minimums. We also discuss how to manage tax payments to the CRA, including ways to avoid interest charges and establish a payment plan. Finally, we explore the pros and cons of shopping at Costco as a way to save money.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Diversification, participation and automation are the keys to getting your first $100,000 invested.  It's the hardest milestone to reach but the most important one for building your long term wealth.  Whether it's for retirement or financial independence or generosity, the sooner you can get to your first $100,000 the easier the rest of it becomes.

Download the Roadmap to $100,000 spreadsheet here

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode, I reviewed the Netflix series "How to Get Rich" and shared my thoughts on the show's advice and effectiveness; a few things I liked and a few things I didn't like. I discussed the importance of communication and setting expectations with a partner when it comes to finances, as well as the concept of a conscious spending plan. Additionally, I critiqued the show's clickbaity title and cookie-cutter advice, and highlighted the importance of executing on details and automating good financial habits. Overall, I suggest that the show may be worth a watch for the relationship side of money and personal finance content, but it definitely won't teach viewers how to get rich

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this iteration of listener Q&A,  we'll kick things off by discussing the concept of selling winners and buying losers, and why maintaining a target allocation is crucial to avoid overexposure to a single risk. We also explore the unpredictability of country performance and the importance of diversification when building a portfolio of stocks.

Dive deeper into the benefits and risks of holding individual stocks within a Tax-Free Savings Account (TFSA). We reveal why it's best to have these stocks in a non-registered account and address the complexity of transferring investments between account types. As we unravel the confusion surrounding capital gains tax, you'll gain a greater understanding of how the Canada Revenue Agency (CRA) taxes capital gains, how capital losses can offset future gains, and even how donating these assets can become a valuable tax planning strategy.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Do you ever find yourself swept up in emotions when it comes to your investments? What if you could learn to manage expectations and make more informed decisions based on data? Join us in this eye-opening episode where we explore the art of expectation management in investing and life in general. We even take a look at the world of baseball to see how expectations can be used for predictions on the outcome of a game or specific play.

We dive into various investment analysis strategies, such as technical analysis, macroeconomic analysis, analyst estimates, and company-specific factors, to help you better understand the market and determine the value of your investments. 

Lastly, we examine the earnings yield and its inverse relationship with the P/E ratio, using ExxonMobil and Apple as case studies. We discuss the cautionary tale of Nvidia and the low expectation of returns when overpaying for stock. Plus, we touch on FP Canada's more complex portfolio guidelines that provide an expectation of returns for a globally diversified stock portfolio for the year 2023. 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Are you ready to take control of your financial life and make improvements where it counts? This week, I'm taking a short break as my family and I move into our new home. While I'm away, I've created a special "Find Your Focus Scorecard" tool just for you. By clicking on the link in the show notes and answering a series of questions, you'll receive a personalized score in five categories: savings habits, debt management, retirement planning, cash management, and investment knowledge.

After completing the scorecard, you'll get a PDF report emailed to you, detailing your scores and offering three practical tips to improve your weakest area. No one has scored 100% yet, which means there's always room for growth. Give it a try, and let me know what you think. Enjoy the rest of your summer, and I'll be back next week with a brand new episode.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Join me in an episode that dives into the impact of wildfires on oil production and donation tax credits while shedding light on the recent increase in interest rates and the potential for millennials to build wealth in Canada. 

Discover how the silver lining of rising interest rates can benefit savers through high interest savings accounts, GICs, and money market funds. Unearth the differences in housing costs, average incomes, and other financial factors when deciding to move from major Canadian cities like Toronto and Vancouver to other parts of the country. We'll also touch on venture capital funding for crypto-related companies and how they've moved on to other ideas.

Finally, don't miss our introduction to the Find Your Focus Scorecard – a tool designed to help you pinpoint areas of focus for your financial life and provide personalized tips to improve your financial situation. 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

This episode is dedicated to helping you find the perfect professional for your situation. We dive into the world of financial planning designations, such as Certified Financial Planner (CFP), Qualified Associate Financial Planner (QAFP), and Chartered Investment Manager (CIM), to help you identify which credentials to look for in a potential advisor.

Navigating the complexities of financial planning fees and location preferences can be overwhelming, so we break down the differences between fee models to help you make a more informed decision. Plus, we share valuable questions to ask prospective advisors, ensuring you find a specialist who aligns with your goals and values.

 Whether you're looking for a planner with expertise in a specific area or simply seeking unbiased advice, this episode will guide you toward finding the right financial planner for you and your situation. 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Can a single fund be the answer to your investment goals? Achieving success and maintaining diversification might seem impossible with just one fund, but I'm here to break down the pros and cons of this simplified investment strategy. Join me as we explore various types of single fund solutions, either as ETFs or mutual funds, and how they create a balanced and diversified portfolio through target allocations.

We compare Fidelity and Vanguard, two industry giants offering different single fund investment options, and take a deep dive into the costs and returns associated with their offerings. Additionally, we touch on factor-based strategies from Dimensional and how they can potentially lead to outperformance over a longer period of time. Throughout the episode, we discuss the advantages and disadvantages of single fund solutions, showing you how investing doesn't have to be complicated to be successful.

Remember, before making any changes to your financial plan, it's important to consult with financial, legal, and tax advisors. So, tune in to discover if a single fund could be the key to simplifying your financial life while still achieving investment success. 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Here's the latest Reddit Roundup for July where I cover off popular topics found on Reddit throughout the month.  This month's topics include:

• Understanding why your retirement funds might not be keeping up with "the market"
• Debunking credit card myths
• Comparing yourself to others in better financial shape
• Should you take the monthly payment or cash upfront with a lottery win? A few factors to consider

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

On this episode I discuss all things Net Worth.  

What is your net worth? 

How do you calculate it? 

What are some things you can learn from your net worth?

It's not just for celebrities or old men.  Your net worth will help you guide where you can focus your efforts to improve your finances today and long into the future.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Imagine if you could transform a small monthly investment of $500 into a million-dollar nest egg for your retirement. Sounds unbelievable, right? Yet, that's exactly what we're exploring in this episode, where we delve into the world of Tax-Free Savings Account (TFSA) investing and the incredible potential it holds. We discuss why the million-dollar mark is not just a psychological goal, but one that potentially offers substantial retirement income, significant tax savings, and the ability to pass on wealth to future generations—tax-free.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Ever wondered how two seemingly identical investments can lead to dramatically different outcomes? Ready to decode the mysteries of investment returns? Buckle up as we embark on an enlightening journey. We'll dissect three hypothetical ten-year scenarios that, on the surface, appear to have identical returns, but when examined closely, reveal radically divergent investment narratives. 

Gain a firm grasp on the role that rate of return and standard deviation play in investment analysis. We'll expose the critical impact that volatility has on your path to investment returns. You'll also gain insights into personalized investment returns, shedding light on money-weighted returns, an essential measure of average return per dollar invested. We’ll dissect the differences between time-weighted returns, and examine the profound implications of the sequence of returns on your portfolio. We'll present two unique 10-year scenarios with identical average returns, but contrasting end results, to visualize these concepts.

Lastly, we'll delve into the stock market's rollercoaster ride through the gripping saga of Carvana, a company that's seen dramatic peaks and valleys since it went public. Get set to understand the importance of context of when and why you invested. 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Better late than never! This episode goes through the first half of the year (ish) and how different stock markets around the world have performed.  

Next I explain why a viral TikTok video is completely wrong about income taxes.

And finally, why Beyoncé could be a culprit for causing inflation in Sweden.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

I received a few questions after my last TFSA episode so I thought I would answer them for you here:

1. How do you invest in stocks in a TFSA?

2. What are the factors to consider between TFSA and RRSP for high income earners?

3. What happens to your TFSA after you die?

4. Can you get your TFSA contribution room back if you make a withdrawal?

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Ever wondered how the cryptic language of finance can be decoded, specifically for Canadians? Looking to navigate the maze of tax-related terms and financial jargon? This episode will aid you in your quest.   

It's time to make finance less intimidating and more accessible. Join us as we break down the financial language barrier.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode I lay out a simple 3 account strategy for managing your cash.  It doesn't get much simpler than this! 

This approach will make sure you have cash set aside for monthly expenses, future expenses and emergencies.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

I receive lots of emails from listeners asking questions but I rarely receive emails from 17 year olds trying to get a jump on their investing knowledge before turning 18! This episode goes over some of the amazing questions I received from a person completely new to investing and I hope it is valuable to anyone else getting started on their investing journey. 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Is 'free money' too good to be true? Allow us to clarify the often misunderstood world of dividend investing with my guest, Mark McGrath, a financial planner and investment advisor at PWL Capital. We're here to debunk the myth that dividends are 'free money' and to provide an understanding of their distribution and impact on a company's share price.

Mark clarifies the specifics of how dividends work but adds points of caution, advising against the trap of focusing on dividends and dividend yields alone, particularly when preparing for retirement. His expert perspective brings light to the often-quoted concept of yield on cost and the risks it poses through over-concentration.

Finally, we delve into the all-important topic of diversification and the inherent risks of investing in dividend stocks. With Mark's guidance, we explore the concept of sequence of returns risk and its potential implications during turbulent market periods. So join us as we navigate the world of dividend investing in this episode filled with practical advice and insights.

Follow Mark on Twitter/X 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

It is so easy to spend countless hours learning about something without taking any action on it and financial topics are no exception.  

But the best way to learn something is to put down the books, podcasts and social media and just try it for yourself.  

So in this episode, I provide ideas for things that you can do TODAY to improve your financial situation.  Not earth shattering, ground breaking things with lots of complexity but simple, approachable and practical steps you can take now and expand on in the future.

If you're a complete beginner or further along in your investing journey there's something for you here.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode, I review a few of the core ideas I share on this podcast about money.  Many of you are new listeners so I want to give you an overview of some themes that you'll continue to hear from me going forward.  I also realized that there are many more things I could have included here but I'll go over the following items this week:

1. Simple > Complicated

2. Systems are better than you at picking investments

3. "Always on" diversification

4. You control the factors that have the greatest effect on outcomes

5. Financial planning is more important than portfolio optimization

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Get ready for an enlightening journey into the world of behavioral finance with our special guest, Dr. Daniel Crosby. Not only is he a psychologist, but he's also a recognized expert in behavioral finance and the author of the incredible book, "The Laws of Wealth". Through his insightful lens, we'll discuss the complexity of human behaviour when it comes to money, our misconceptions about wealth and happiness, and how we can build a rules based portfolio that lets our own laziness work in our favour.

Lots of fun topics in this episode and a true pleasure to hear from Dr. Crosby who makes these topics easy to understand and applicable to every day life.

**Note: The draw for a copy of The Laws of Wealth has been completed

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

How do perceptions, priorities, and goals shape retirement outlook for pre-retirees and retirees? And how does a written financial plan play into the picture? I am thrilled to dive into these intriguing questions with our special guest, Michelle Munro, Director of Tax and Retirement Research at Fidelity Investments. Michelle brings to our discussion fascinating insights from Fidelity's Retirement Report, shedding light on the significance of having a sound financial plan and how it is strongly associated with a positive retirement perspective. We also touch upon the range of activities that retirees look forward to, with travel taking the top spot.

Canada's growing trend of immigration has undeniably influenced retirement savings and plans. We navigate through this complex landscape, examining how immigration and culture impact the savings goals of both Canadians  who were born here and Canadians who were born elsewhere. Interestingly, Canadians born in other countries show higher savings targets across the board, with an emphasis on multi-generational plans for their children and elderly parents. We also dissect the role of external factors like macroeconomic events on retirement goals and attitudes, alongside the differences for those with defined benefit plans, those employed, or self-employed.

Have you ever wondered why working in retirement is a popular choice? We delve into this phenomenon, revealing that it's not just about the money. Staying active and  mentally engaged are key motivating factors. Stressing the importance of thorough financial planning, we discuss how many retirees are working to thrive rather than to survive. To wrap up, we discuss potential changes that could affect retirement, such as RIF minimums, and how the Fidelity Retirement Report can provide invaluable insight into retirement goals of Canadians. Join us for an episode packed with valuable insights and advice!

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Are you on the path of creating generational wealth, or perhaps in the throes of navigating a family business transition? If so, this episode holds keys to unlock some of your biggest challenges. I had the pleasure of hosting CFP® Professional and Wealth Advisor, Steve Willems, who expertly guides us through the journey of managing and transitioning generational wealth. Our conversation extends from the use of the three-circle model, designed to surmount communication challenges, to the intriguing case of 'missing billionaires'. 

Ever thought of how your children would handle the wealth they inherit? We dive into this fascinating topic, introducing the concept of 'starter funds' to initiate your children's journey into financial awareness without inducing apathy. Steve and I show the ways a proactive approach towards a life starter fund can make a world of difference for your child's perspective on wealth. 

Finally, we believe it's not just about passing on the wealth, but the values that accompany it. Our discussions take a deeper look at the importance of instilling financial and personal values in the younger generation, preparing them to handle wealth without feeling burdened. We stress the significance of having intentional, contextual discussions about money, hard work, and planning for the future. This episode is a goldmine of wisdom for anyone interested in generational wealth, family business transitions, and imparting children with financial values and communication skills. 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

This week, I jumped onto Reddit to find a few topics that are top of mind for many Canadians. Here are the headlines for the posts I discuss on the episode:

1. So lost. Lost my high salary job. What do I do now??

2. One bad financial decision. The stress is constant now. Not sure what to do

3. Am I doing something wrong, or is this roboadviser not that good?

4. With the enhanced CPP, you may not need to save much for retirement

As always, I will use these situations to give you ideas for how to prevent problems in your own financial life and provide some context for how to better understand the financial world around you.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this week's conversation with Jason Yee, we discuss all things related to the Canada Pension Plan (CPP).  Jason helps unravel the diverse types of CPP benefits, eligibility rules, and how to leverage CPP's unique features optimally. To make the concepts easier to understand, Jason created an animated video that explains the process of obtaining the maximum retirement pension from CPP.

You can watch Jason's CPP Explainer Video Here

Later in our discussion we talk about your decision on when to take CPP being a strategic choice. We take you through this crucial choice and the trade-off it brings between receiving it earlier for a smaller amount or waiting for a larger payout. Delving into CPP's two types of inflation adjustments, we explore how the pension maintains its purchasing power. We also briefly talk about recent changes with the Additional CPP and their potential benefits.

Planning for retirement can often seem like venturing into the unknown. With Jason, we address this uncertainty by highlighting the importance of accurate CPP benefit estimation for effective retirement planning. Together, we navigate the four essential questions to ponder when considering your future spending. Additionally, we shine the spotlight on CPP sharing,  post-retirement benefits, and death benefits. Join us in this insightful journey as we demystify CPP and equip you with the knowledge to make the best decisions for your retirement future.

Contact Jason at Finepoint Solutions

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode, I walk through a real case study from clients of mine where I’m helping them prepare to make a $187,000 TFSA contribution.

I use this real life example to explain some of the key TFSA concepts:

- Contribution room
- What happens when a spouse dies?
- Making a withdrawal
- Over-contribution penalties
- Re-contribution of withdrawals

While this situation is unique to the client, the steps taken along the way might be relevant for you and someone you know.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

November is Financial Literacy Month in Canada so this episode is a whirlwind tour through the big topics you need to know to master your money:

1. Cash flow
2. Budgeting
3. Taxes
4. Debt Management
5. Insurance
6. Investing
7. Retirement Planning
8. Estate Planning

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

November is Financial Literacy Month in Canada and this week's episode is dedicated to that! We talk about the importance and benefits of financial literacy and then walk you through a quiz to see where you'd land on the literacy scale.

If you need some help with getting rid of some of your financial "I Don't Know's", get started with my Financial Foundations Course at the links below:

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Have you ever struggled with finding the perfect gift for that person in your life who seems to have everything? This week, fellow financial planner Jordan Arndt joins me to propose a unique and meaningful solution: charitable gifts. Our conversation takes us through the concept of Giving Tuesday, showcasing the importance of giving back during the holiday season and the key role it plays in our communities.

But the benefits of charitable giving extend into the financial world as well.  We break down how making donations to registered charities can have a significant impact on your tax bill. We talk about everything from non-refundable and refundable credits, different brackets for tax credits based on donation amounts, and the exciting concept of matching campaigns. We underscore the importance of researching before donating and highlight the various tax credits available, including the ability to transfer them to a spouse or carrying them forward for five years. So tune in and let's explore the power of generosity and its potential perks this holiday season!

Follow Jordan on Twitter/X

Sign up for Jordan's newsletter

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Are you well-armed against the 20 most common investing pitfalls? In this week's episode, I dive into the critical importance of setting reasonable expectations for returns, having clear investment goals, ensuring portfolio diversification, and avoiding the pitfalls of falling into short-term focus. We also shed light on the dangers of excessive trading, the influencing power of media hype, and how unchecked emotions of fear and greed can lead to poor financial decisions.

The episode doesn't just stop at identifying these mistakes; it offers valuable guidance on how to steer clear of them. Learn about the often-overlooked aspects of financial planning, including controlling asset allocation, managing fees, and understanding the impact of inflation on investments. I also emphasize the merits of long-term planning and informed decision-making.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode, I'll discuss the new TFSA contribution limit for 2024 and why it might be a good idea to withdraw funds now if you're planning to use them early next year. We'll also look at the First Home Savings Account (FHSA), and the importance of opening this account in the year you wish to use the contribution room. We'll additionally explore the RSP contribution room for 2024, pegged at $31,560, and why your earned income is the only income that counts towards this room. 

I'll also go over the process of tax-loss harvesting, and the year-end distributions for mutual funds and ETFs in non-registered accounts.  We'll also talk about how making charitable donations can work in your favour and a reminder to exhaust your workplace benefits before the year concludes. 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

You might not want to hear it... but here are 7 inconvenient truths about investing:

1.  Low fees won't solve all your financial problems
2. Any long term investment worth owning will go down at some point
3. If you're properly diversified, some part of your portfolio will always be underperforming
4. Someone you know will always have a better performing portfolio than you
5. If you're reacting to the news with your portfolio, you're already too late.  And you can't know in advance what the impact of that news will be (even if you're right about predicting the bad news).
6. Making money in the stock market takes a lot of time
7. Past performance is not indicative of future results (including the S&P 500!)

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Dealing with money topics with a partner can be stressful and particularly stressful for the person who is not the "money person" in the relationship.

In this episode, I help outline a way that you can very simply explain your entire money life to your partner without getting into the weeds of technicalities.

The high level details of your financial life can fit on a single page under the following categories:

1. What do you have?

2. What do you owe?

3. Where are you going?

4. What if...?

Do more if you want! But start here to end the year on a note of transparency, clarity and openness.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Finishing off the year with a few of my top episodes of 2023!

Thanks to all of you for being loyal listeners of the podcast. 

See you with some new episodes in 2024

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Finishing off the year with a few of my top episodes of 2023!

Thanks to all of you for being loyal listeners of the podcast. 

See you with some new episodes in 2024

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode, I explore the Canada Child Benefit (CCB), a tax-free financial support for families. l lead off discussing  who qualifies and how much you can receive before going over how household income affects your CCB.  Finally, I'll provide some strategies to  increase your payments, including the impact of RRSP contributions.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

I don't like goals... I like processes and systems and rituals that will eventually lead to accomplishing goals. I just call them, Areas of Focus.  

In this episode, I will go through my personal areas of focus for my financial life this year.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Have you ever felt uneasy about investing when the market is nearing all time highs? What if a crash happens or it declines right away?

In this episode we look to history to help inform what investors should do in this potentially tricky situation.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Welcome to Part 2 of my exploration of investing at "all time highs". This week, I'm looking into high valuations and what it means for investors nervous about investing when stocks are expensive.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Today, I'm joined by Aravind Sithamparapillai to discuss financial planning for people with variable incomes including sales professionals.

Aravind has a wealth of personal experience in this area as a former medical device salesperson so he brings a unique perspective and very practical advice.

Connect with Aravind

**Aravind is an Associate at Ironwood Wealth Management however, he inadvertently used the formal title of "Advisor" later in the episode.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

 In this episode I walk you through the benefits of registering for your CRA My Account. It is an incredibly useful tool for understanding your tax situation and finding tax slips all in one place. 

I would highly recommend that everyone register for it before you file your taxes this year! 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Unlock the full potential of your retirement savings with our latest episode, where we unravel  the power of spousal RRSPs.  As the RRSP deadline looms, we delve into strategies that not only prepare you for a stable retirement but also smartly align your savings with your current income bracket to maximize tax benefits. With an eye on the future, we discuss how adjusting your contributions can significantly reduce your taxable income now and how a spousal RRSP can be a game-changer for couples, particularly where one spouse earns a higher income.

Our conversation extends beyond just RRSPs, as we explore the clever use of spousal RSPs for income splitting, which can be especially advantageous in single-income, households. We dissect the three-year rule that prevents immediate withdrawal by the non-contributing spouse. This episode doesn't just throw numbers and rules at you; it integrates these strategies with other financial vehicles like TFSAs and FHSAs, painting a comprehensive picture of how to stretch every dollar for a financially secure horizon. Join us as we guide you through these pivotal strategies, ensuring you're equipped to make informed decisions that could pay dividends in your golden years.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In our conversation we discuss the concepts of the Financial Independence Retire Early (FIRE) movement. 

If you're wanting to pursue FIRE for yourself, we go over a few challenges you might run into and things to consider before committing your lifestyle to this goal.

Connect with Sam Lichtman, CFP®

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode I will discuss the ideas of "safe" investments and how risk can be viewed differently depending on your perspective.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

**I usually keep my episode descriptions pretty minimal but this AI generated description was too flavourful to keep to myself.  Enjoy.**

Ever find yourself marveling at grandma's mouthwatering dishes, only to discover her "secret ingredient" was something quite unexpected? That's the essence of my snowy Saskatchewan weekend revelation: the culinary magic of MSG is akin to the world of factor investing—both can enhance the outcome in surprisingly simple ways. Hitch a ride with me, Evan Neufeld, as we stew over how a pinch of systematic factor investing can potentially spice up your portfolio. We're stirring the pot, debating whether stock market success is more about the chef's talent or the seasoning they choose, and examining the savory blend of factors like value, small cap, momentum, and quality.

Grab your apron and prepare to sift through the complexities of the financial market, as we uncover the robust flavor of high-quality businesses and the subtle zest of low volatility. We'll also reveal why some factors have become timeless recipes for success across different global markets. Whether you're a culinary novice in the kitchen of investing or a master chef ready to season your assets to perfection, this episode promises a full course meal of enlightenment. So, let's turn up the heat and cook up some mouth-watering strategies that could make grandma's secret ingredient seem like child's play.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

This episode comes from The Canadian Money Roadmap YouTube channel from a video I posted on March 8 2024. If you want more content like what you find here on the podcast, the YouTube channel is the place for you!  Thanks for listening and watching as always.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

If you could split your income with your spouse, there is a pretty good chance you could drastically reduce your tax bill.  In this episode, I show you how that will be possible for you in your retirement years.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this week's episode we walk through the two phases of your RRSP: accumulation (RRSP) and spending (RRIF). 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

This week, I'm tackling a few topics that were popular on Reddit over the last month. 

1. What should you use for return assumptions in your planning?

2. Becoming a TFSA multi-millionaire

3. What should be your priority after building your first $100,000

**For a more in-depth look at expected returns, check out the recent  Rational Reminder Podcast episode on the topic

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

The stock market has looked great recently! Is it time to take some money off the table?

In this episode, I walk you through the considerations you need to make to decide whether it is time to sell or stay the course.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

This week I'm joined by Mark McGrath as we dig into segregated funds. These investment vehicles blend mutual funds with insurance and offer unique guarantees but….. the benefits to investors are less clear. 

We delve into fees, performance, guarantees and other pros and cons. 

We also examine the human side, critiquing sales practices and exploring seg funds in estate planning. 

Whether you're a seasoned investor or just starting out, this episode provides essential guidance for informed decision-making in the Canadian investment landscape.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Could the financial strategies that appear flawless on paper be leading us astray in the real world? We're peeling back the layers of investment principles to reveal why some inefficiencies might just be your portfolio's best friends. Taking a page from Morgan Housel's "Same as Ever: A Guide to What Never Changes," we delve into the unexpected virtues of financial buffers and the fallacy that cost always equates to value. Discover how the pandemic's strain on just-in-time manufacturing shines a light on the need for slack in our systems, and why the presence of an emergency fund during economic highs could save you during the lows. Plus, we discuss the underrated advantages of investment advisors, challenging the penny-pinching mindset to embrace quality that pays off in the long run.

Then, we shift gears to a provocative study that upends conventional retirement planning wisdom—should you stockpile equities all the way to your golden years? We dissect the enticing, yet nerve-wracking notion of an all-equity portfolio and confront the harsh truths about our own risk tolerances and financial aspirations. It's not just about the potential gains; it's the psychological rollercoaster and the necessity for a tailored asset mix that fits like a glove. As I advocate for a well-rounded investment strategy, consider this your invitation to explore how aligning your portfolio with your personal narrative could be the smartest financial move you make. Join us as we navigate through the complexities of balancing risk and reward, and crafting a financial future that doesn't just look good on paper, but feels right in your gut.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

On this week's episode, I was delighted to be a guest on Amanda Doucette's The Tax Chick Podcast to talk about all things Tax-Free Savings Accounts (TFSAs).

 As we delve into the nuanced world of TFSAs, you'll gain a clearer understanding of how these accounts can be much more than a place to stash your cash. Get the scoop on navigating over-contributions and withdrawals, and learn the critical aspects of setting up beneficiary designations and successor holder arrangements—vital knowledge for polishing your estate planning.

This episode isn't just about saving; it's about strategizing for wealth accumulation. We break down the best practices for leveraging your TFSA for long-term investments and dissect the all-important recontribution rule. I'll guide you through the minefield of contribution limits and the confusion that can arise from registered versus non-registered investments within your TFSA. Savvy financial planning can be complex, but with our insights, you'll be well-equipped to make informed decisions without attracting unintended attention from Canada's tax authorities.

Lastly, we shine a light on the profound impact TFSAs can have when it comes to passing on your wealth. Discover the seamless transfer benefits that come with naming a spouse or common-law partner as a successor holder, and consider the more intricate scenarios that arise with other beneficiaries.

Stay tuned for Amanda's appearance on  next week's episode as we expand our discussion to the world of trusts.

Listen to The Tax Chick Podcast Here

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

Gain a clear understanding of trusts and how they can be leveraged for estate planning with tax expert Amanda Doucette, my insightful guest and fellow podcaster from The Tax Chick. We take the mystery out of trusts, explaining the three certainties - intention, subject matter, and beneficiaries - that are essential to their formation. Whether you're considering setting up a formal or informal trust, this episode illuminates the importance of precise documentation and the implications of each type.

The landscape of trust taxation is ever-evolving, and we're here to guide you through the complexities. We discuss the changes that have affected testamentary trusts taxation, including the shift to the highest marginal rates and the critical 21-year "birthday" that could trigger a significant tax event. As we explore the cultural perceptions surrounding "trust fund kids," we clarify the realities and debunk myths associated with trust beneficiaries. This episode offers a practical look into how trusts can provide for future generations while meeting your intended objectives.

Dive into the roles and responsibilities that trustees bear, as this episode highlights the fiduciary duties vital to the proper management of a trust. We address the intricacies of trust taxation and how integrating income from different sources can affect your estate planning. Whether you're faced with a beneficiary's milestone birthday or adapting to new tax regulations, this episode is packed with insights to ensure you're well-informed and prepared to engage with your advisors effectively. Join Amanda and me as we equip you with the knowledge to handle your trust-related financial planning with confidence.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode, I introduce my new Fan Mail feature where you can text me your questions. Depending on the questions I receive, I might be able to feature it in a future episode! 

Click on the link above the description to send me a text question. 

To clarify a few questions about this service: I cannot reply to the text, I don't receive your full phone number, you will not receive any spam from me, and it doesn't give you my personal cell number either.

At the end of the episode, I try to answer the first question I received about CPP timing for single people.

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan

In this episode I explore why a significant number of investment funds fail to outperform their benchmarks (let alone survive for the long term). 

This episode breaks down the critical factors of high fees and high turnover, offering insights on how these elements negatively impact fund performance. 

Get your Retirement Readiness Score 🇨🇦

Build your Retirement Plan With Evan