Explore every episode of the podcast 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.
Rows per page:
50
1–50 of 119
Title
Pub. Date
Duration
Ep#76: Optimizing Finances for our Kids' Education - RESPs & beyond - with Dr. Matt Poyner
12 Sep 2024
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 #75: Philanthropy - 4 Essential Reasons to Give - with Mark Halpern & Yatin Chadha
22 Aug 2024
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)
My Investing Journey: The Good, The Bad, & The Ugly
29 Feb 2024
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)
Tax Matters: How will Alternative Minimum Tax (AMT) Changes Affect High Income Canadians in 2024? - with Kim GC Moody
15 Feb 2024
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)
Key Learnings from 15 years of DIY Investing in the Markets with Dr. Dimitre Ranev
01 Feb 2024
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)
How to Soar to a Rich & Successful Life with Dr. Ketan Kulkarni
11 Jan 2024
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)
Enjoying a Diverse Career & Multiple Streams of Income with Dr. Stephanie Zhou (Part 2)
15 Dec 2023
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)
Enjoying a Diverse Career & Multiple Streams of Income with Dr. Stephanie Zhou (Part 1)
08 Dec 2023
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)
Permanent Life Insurance Part 4 Addendum: Options for Navigating Policies without Fully Exiting
06 Dec 2023
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:
The Truth about Permanent Life Insurance (Part 4) - Who should consider permanent life insurance?....And more
17 Nov 2023
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
The Truth about Permanent Life Insurance (Part 3) - How can a Permanent Life insurance policy be used?
16 Nov 2023
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
The Truth about Permanent Life Insurance (Part 2): Demystifying Participating Whole Life Insurance - with Jeff Bernstein
10 Nov 2023
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
Fixed Income: Understanding Mortgage Investment Corporations in Today's Environment with Arjun Saraf (CPA, CA, EMD)
01 Aug 2024
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)
The Truth about Permanent Life Insurance (Part 1): the basics, policy types, components, funding & structure - with Jeff Bernstein, CLU, MFA-P
09 Nov 2023
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
Bonds (101) are Not Boring with Rounak Langhe
19 Oct 2023
00:42:18
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
Tax Efficient Philanthropy Part 2 - Donor Advised Funds & Private Foundations with Mark Halpern
28 Sep 2023
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)
Traveling the World Affordably by Optimizing Credit Card Points with Ricky Zhang
07 Sep 2023
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)
Learning with the Loonie Doctor (Dr. Mark Soth) - Part 2
17 Aug 2023
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/
Optimizing Your Professional Corporation with The Loonie Doctor (Dr. Mark Soth) Part 1
10 Aug 2023
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/
The Many Benefits of Locuming as a Physician featuring Dr. Michael Fralick
28 Jul 2023
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 Most Important Insurance Policy: Disability Insurance Deep Dive with Kristen Fazio
14 Jul 2023
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)
My Many Money Mistakes & What I've Learned (Part 2)
23 Jun 2023
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.
My Many Money Mistakes & What I've Learned (Part 1)
16 Jun 2023
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/
Dissecting Health Spending Accounts (HSAs) with Justin Manning
11 Jul 2024
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)
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
Everything You Need to Know About the First Home Savings Account (FHSA) with Stefan Scott
04 May 2023
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)
Guaranteed Investment Certificates (GICs) 101 with Mahima Poddar from EQ Bank
20 Apr 2023
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)
The Journey to Financial Independence & Traveling the World with Dr. Matt Poyner
31 Mar 2023
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
Part 4 BRRRR Real Estate Investing with Quentin D'Souza - Refinancing
16 Mar 2023
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
Part 3 BRRRR Real Estate Investing with Quentin D'Souza - Renting
09 Mar 2023
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 2 BRRRR Real Estate Investing with Quentin D'Souza - Renovating
02 Mar 2023
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 1 BRRRR Real Estate Investing with Quentin D'Souza - Buying
23 Feb 2023
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
Exploring Liquid Alternative Investments with Jeremy Donath (Donath & DiSabatino Group, BMO Private Wealth)
02 Feb 2023
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)
Understanding Real Estate Development Investing with Sasha Cucuz, CEO of Greybrook Securities
12 Jan 2023
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)
Re-examining pension plans for professionals with Jason Pereira
20 Jun 2024
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)
The Pursuit of Authentic Fulfillment with Dr. Ketan Kulkarni
15 Dec 2022
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:
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.
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.
Article with screenshots to guide set up: https://taxpayca.zendesk.com/hc/en-us/articles/9043147171860
Overcoming the Arrival Fallacy for a More Successful Personal & Financial Life
09 Sep 2022
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
A Conversation with Drs. Paul and Jane Healey
12 Aug 2022
00:51:50
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!
Alternative Investments with Joe Bakish
21 Jul 2022
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/
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/
Estate Planning 101 with the "Tax Chick" Amanda Doucette
09 Jun 2022
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)
The Building Blocks of a Happy & Successful Life - with Andrew Hallam
30 May 2024
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)
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:
My perspectives Q1 2022 - used car prices, interest rate cycles, pension plans, uncorrelated returns, HoldCo's
22 Apr 2022
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!
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
Critical Illness Insurance with Mehul Gandhi
10 Mar 2022
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