Ice cream is amazing on its own. Soda is also very tasty. The combination of ice cream with soda in an ice cream float is even more amazing! Well, here, we will discuss another amazing combination. What is the Enhanced Smith Maneuver? We will dive into this combination and understand how they can be synergistic for incorporated healthcare professionals.   If would like to leave any comments or suggestions for future episodes, please email me at [email protected]

Are you engaged with a strategic accountant? In addition to filing your taxes, does your accountant educate and engage you in a discussion about financial planning for the future? As healthcare professionals, we rely on the expertise of others to manage our personal finance. One of the major player among these experts are the accountants. If they do not talk to us about things we are not aware of, how are we supposed to be aware? It is not so much what is said that is important. It is what is not said. So, are you having conversations with your accountant about things that are not said?   If would like to leave any comments or suggestions for future episodes, please email me at [email protected]

There is an age-old debate between two camps: "Buy term and invest the rest" vs the Whole Life insurance. Many financial gurus and social media financial contributors who favor "Buy term and invest the rest". But what does it mean? How does it play out in the long-term? We will take a deep dive with a more analytical method. Please enjoy responsibly.   If would like to leave any comments or suggestions for future episodes, please email me at [email protected]

I had a great interview with Galen Nuttall, a CFP and a podcaster. Hear my deepest thoughts about how we, as a community, are doing financially on a personal level.   If would like to leave any comments or suggestions for future episodes, please email me at [email protected]

No one gets married with the expectation of having a divorce. But life happens. A divorce is devastating on so many levels. One of them is financial (for all parties involved). We will discuss this briefly with my good friend David.   If would like to leave any comments or suggestions for future episodes, please email me at [email protected]

I have heard of the CDA account many times. It did not register with me until the third time. Then, it hit me like a ton of bricks. Do you know about it? Do you understand it? It is a very powerful estate planning tool for incorporated professionals.   To leave me feedback of comments, please email me at [email protected]

As busy healthcare professionals, we are very good at caring, treating, and healing others. However, how good are we are managing our own personal finances and planning for financial security? It is really a rhetorical question. We really are not. We should be good at it and educate ourselves. This however does not exclude needing the help of a professional. In this episode, Galen shares with us his profession and a look behind the scenes.   If would like to leave any comments or suggestions for future episodes, please email me at [email protected]

As busy healthcare professionals, we are very good at caring, treating, and healing others. However, how good are we are managing our own personal finances and planning for financial security? It is really a rhetorical question. We really are not. We should be good at it and educate ourselves. This however does not exclude needing the help of a professional. In this episode, Galen shares with us his profession and a look behind the scenes.   If would like to leave any comments or suggestions for future episodes, please email me at [email protected]

I am the host of this podcast because I earned it! I have made enough financial mistakes that I can about for an entire day. But for now, just avoid this one. Learn from my mistake and you can avoid yours. Enjoy.

I thought I was alone like Wolverine. But I found another physician mutant willing to discuss personal finance in healthcare. Our lives may be in danger now as the rest of the medical community want to lock us up or rehabilitate us. But Yatin was courageous enough to expose himself as well. We are following our dream of educating the masses and hopefully one day, we can all live together in harmony. One day, we will be accepted by society. Please listen to Yatin as he shares his thoughts about personal financial literacy for healthcare professionals. Yatin's podcast is "Beyond MD with Dr. Yatin Chadha" on all podcast platforms. If you would like to provide feedback or comments, please email me at [email protected]

Canadian homeowners are somewhat disadvantaged in comparison to our American neighbours because we cannot right off the mortgage interest. We also think of debt in 1 (only one) way. We are taught this by our parents, cousins, neighbours, and our dog. But after centuries of doing it 1 way, we have not improved our overall financial security. There must be another way?   Yes, there is.   Please learn about the Smith maneuver and see if this strategy may be a good fit for you. It may not be, but at least, you will know what it is. Please provide me your feedback or comments at [email protected]    

100% of my colleagues have accountants. 99% of my colleagues are not aware of private individual pension plans. What a huge disconnect!! And 100% of the 99% are also obviously not aware of the Retirement Compensation Arrangement (RCA). It is one of the best kept secret in personal finance. Incorporated individuals should learn about this solution and figure out if this is an appropriate fit for their situation. Don't miss out!   If you ave any feedback or comments, please email me [email protected].

This is another very polarizing topic among incorporated healthcare professionals. Accountants and advisors favor one or the other. The truth is probably in the middle (as always). Listen for yourself and see which one you prefer. By the end of these 2 episodes, you will find out which one I prefer (for a reason that no accountants are aware of).   Please leave me your feedback or comments at [email protected]

This is another very polarizing topic among incorporated healthcare professionals. Accountants and advisors favor one or the other. The truth is probably in the middle (as always). Listen for yourself and see which one you prefer. By the end of these 2 episodes, you will find out which one I prefer (for a reason that no accountants are aware of).   Please leave me your feedback or comments at [email protected]

Everyone knows how buys we are. You know how busy you are. But you also fancy investing in real-estate (not just the REITs stuff)! Can we do it? Hell yeah! If we can save someone life by operating on a brain or a heart, perform a LP with eyes closed, or treat complex mental health illnesses, we can be a real-estate investor. And it does not even take as long as open-heart surgery. It does take does skills that could be learned. Here are some things to think about as you take your first step!   Please reach out to me or leave me with your comments at [email protected]

Everyone knows how busy we are. You know how busy you are. But you also fancy investing in real-estate (not just the REITs stuff)! Can we do it? Hell yeah! If we can save someone life by operating on a brain or a heart, perform a LP with eyes closed, or treat complex mental health illnesses, we can be a real-estate investor. And it does not even take as long as open-heart surgery. It does take does skills that could be learned. But first, it take a change in mindset. Are you willing to change?   Please reach out to me or leave me with your comments at [email protected]

Most of us do not truly understand life insurance products. It is something takes a lot of time to learn and understand. The world of insurance products is vast and creative. There are many ways to purchase a life policy (even a very large policy). Have you heard of "mortgaging" one? If not, then you should listen here.   Please leave your comments and feedback here: [email protected].

There are many advisors in the financial industry. As healthcare professionals, we rely on them to give us relevant advice to achieve our financial goals. We obviously do not know it all and we never will. So, it is a wonderful thing to have access to those who can help us be proactive and vigilant about our financial security. Here we will pick the brain of one of the most experienced advisor I know. Gordon offers a wealth of knowledge and wisdom (and stories). We will chat with him as he shares with us how healthcare professionals can set themselves on the right path from the very beginning. Come and listen to this 3rd and final installment of our fireside chat with Gordon Berger.

There are many advisors in the financial industry. As healthcare professionals, we rely on them to give us relevant advice to achieve our financial goals. We obviously do not know it all and we never will. So, it is a wonderful thing to have access to those who can help us be proactive and vigilant about our financial security. Here we will pick the brain of one of the most experienced advisor I know. Gordon offers a wealth of knowledge and wisdom (and stories). We will chat with him as he shares with us how healthcare professionals can set themselves on the right path from the very beginning. Come and listen to this 2nd installment of our fireside chat with Gordon Berger.

There are many advisors in the financial industry. As healthcare professionals, we rely on them to give us relevant advice to achieve our financial goals. We obviously do not know it all and we never will. So, it is a wonderful thing to have access to those who can help us be proactive and vigilant about our financial security. Here we will pick the brain of one of the most experienced advisor I know. Gordon offers a wealth of knowledge and wisdom (and stories). We will chat with him as he shares with us how healthcare professionals can set themselves on the right path from the very beginning. Come and listen to this fireside chat with Gordon Berger.

Many of us have a house (borrowed from the bank) or on the market looking to buy a house. Home-ownership is a Canadian dream. Given how strong the Canadian housing market is right now, many of us are willing to buy over-priced or extravagant houses. Once we won the bid and bought the house with a mortgage, we have all the intention to aggressively pay down the mortgage. It is what we are taught to do. Do not have debt! However, trying to live up to this dogma, we often neglect other important tasks that will increase our net worth. Are you doing this and don't even know it?   Please email me if you have any feedback, comments, or suggestion for future topics: [email protected]

Physicians in Canada were given the legal privilege to incorporate. It is a privilege indeed. It was decided so for many financial and estate planning reasons. Many have not incorporated. Do the drawbacks of incorporation outweigh the benefits? What is the long-term impact of not incorporating? This episode is part 2 and final thought on incorporation even if there is no retained earnings at year's end.

Since incorporation was allowed for physicians, many have taken the opportunity to do so. Many have not. While incorporation is not an answer to everyone's situation, it is however a good tax planning solution for most. Those who have not incorporated for the reason of "I do not have any retained earnings left in my corporation at the end of the year" should really reconsider. Incorporation is really just the first step. Having retained earnings or not at year's end is really irrelevant strategically speaking if the end goal is financial security and wealth building. Listen to understand this vantage point.

The eight and last installment in the serie on Behavioral Finance. Sunk Cost bias or Gambler's fallacy. This bias is something I am certain we all are victim of. You may not want to admit but you fall victim to this one as well. We are human and we act with emotions. It is very difficult to cut our losses and walk away. Just recognize this can be very detrimental to your overall portfolio performance.

The seventh installment in the serie on Behavioral Finance. Achieving Cheap at all cost. A race to the bottom is not the same as a race to find value. In fact, getting the cheapest you can find of everything is refusing to recognize opportunity cost. Beware of such cognitive bias!

We are good at what we have learned and do. We are good at providing medical care. After all, we are doctors. Does that also mean we are good at building financial security and wealth? Most of us are not. Some of us are. Or at least we think we are. What we think we are really good at is mainly in investment. Are we also really good at the other aspects of financial planning? The biggest enemy to knowledge is not ignorance, it is the illusion of knowledge.   Please email me if you have any feedback, comments, or suggestion for future topics: [email protected]

The sixth installment in the serie on Behavioral Finance. Taking too much risk due to greed. This bias is something I am certain we all can fall victim to. Are you trying to be a cowboy and hit home runs all the time? Or should you follow a strategy to grow your portfolio?

The fifth installment in the serie on Behavioral Finance. Songs of Sirens. This bias is something I am certain we all are victim of. Beware who you listen to and what is being said. Do you fall the beautiful stories? if so, you are most at risk.

Quantitative Easing (QE) is a word that has been bounced around for some time now. I never understood what this sophisticated word meant. To be honest, I did not care until I understood it just enough. Now, I feel the need to understand a bit more because it will impact my personal finances in a very large way. QE will be broken down into simple concepts even a doctor (me and you) would understand.   Please email me if you have any feedback, comments, or suggestion for future topics: [email protected]

The fourth installment in the serie on Behavioral Finance. Checking you portfolio often. This bias is something I am certain we all are victim of. Checking your portfolio too frequently and acting on emotions when you goal is long term adds no value. It only creates regrets.

The third installment in the serie on Behavioral Finance. Loss Aversion. This bias is something I am certain we all are victim of. We experience loss more deeply than we experience gain. This in turn makes us do things that are not in our best interest.

Another episode in the series of Mea Culpa. This time, we learn from Mikaela. To connect with me for mentorship/coaching/consulting related questions, please also visit: www.financialhealthdoc.com or email me at [email protected]

If you are making investment or money decisions on your own (DIY), are you doing it correctly? Have you considered the overall strategy? Or are you just buying assets haphazardly (like a plastic bag floating in the wind)? What is missing in the DIY strategy? You need to know (because what you don't know can really hurt you).

The second installment in the serie on Behavioral Finance. Confirmation bias. This bias is something I am certain we all are victim of. At least, in medicine, it is rampant. I see it everywhere and from everyone. Are you bringing it from your professional life into your investment decisions as well?   I am also excited to announce my upcoming virtual Financial Workshop on Sept 17th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 20 attendees!   To connect with me for mentorship/coaching/consulting related questions, please also visit: www.financialhealthdoc.com Or email me at [email protected]

Do you think you always make the right decision in medicine? There many blind spots which we call cognitive biases. I am certain you are aware of these biases in your professional practice. However, are you aware of these blind spots when in comes to investing your money? This is the first in this serie on the topic of Behavioral Finance. Enjoy!   I am also excited to announce my upcoming virtual Financial Workshop on Sept 17th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 20 attendees!   To connect with me for mentorship/coaching/consulting related questions, please also visit: www.financialhealthdoc.com Or email me at [email protected]

Given the new tax changes, many accountants and advisors are recommending Capital Stripping. Before you say yes, is there a better alternative that is more tax efficient? You better listen to this before you jump into Capital Stripping.   I am also excited to announce my upcoming virtual Financial Workshop on Sept 17th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 20 attendees!   To connect with me for mentorship/coaching/consulting related questions, please also visit: www.financialhealthdoc.com Or email me at [email protected]

It is my belief that a well diversified investment portfolio should include equities, bonds (ok maybe not in this low rate environment), ETFs, insurance products, real-estate, and non-correlated investment products. It should also include REITs (which could be part of your non-correlated investment portfolio). But what are REITs you ask? Well, I (ok maybe not me, but my guest) have all the answers. Listen to learn more.   This episode is  sponsored by: Alignvest Student Housing REIT (ASH REIT) is a private REIT focused on consolidating the highly fragmented purpose-built student accommodation (PBSA) sector in Canada. Over three years, ASH REIT has acquired 10 high-quality properties with 4,200 beds valued at $550 million. ASH REIT has a proven track record, and demonstrated resiliency and stability through the pandemic – delivering an annualized return of 10.5% to investors, including an attractive tax-efficient distribution of 5.3%, paid monthly.  Sanjil Shah is the Managing Partner of Alignvest Student Housing REIT. He is a CPA and has almost 20 years of experience in real estate and investment management, having previously built one of Canada’s largest self-storage real estate businesses. Sanjil is also a Managing Partner of Alignvest Management Corporation, a private investment firm. Additional information is available at alignveststudenthousing.com.     I am also excited to announce my upcoming virtual Financial Workshop on Sept 17th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 20 attendees!   To connect with me for mentorship/coaching/consulting related questions, please also visit: www.financialhealthdoc.com Or email me at [email protected]

A few episodes back, we learned about private pension plans (IPP and PPP). We know what the benefits and drawbacks are. But there is 1 particular aspect of these pensions that deserve its own episode. This feature of the private pension plan (that is most powerful inside the PPP) is the most powerful of all the features. If you have children, you must know this!   I also am excited to announce my upcoming virtual Financial Workshop on Sept 17th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 20 attendees!   To connect with me for mentorship/coaching/consulting related questions, please also visit: www.financialhealthdoc.com Or email me at [email protected]

Everyone likes to invest in real-estate. Healthcare professionals loves to invest in real-estate. Do you know why? If you are not invested in real-estate, should you? What are the incentives and the disincentives of investing in real-estate? This episode will try to answer some of these questions.   This episode is sponsored by another Emerg Doc, Dr Fred Voon, who has just come out with a new book called ‘Your Inside Guide To the Emergency Department… And How to Prevent Having To Go’ We hear the same questions and complaints in waiting rooms coast to coast.  This book answers them.   People want to know how they can stay out of the Emergency Department, or how to get seen, and get out as quick as possible. Dr Voon takes 15 years of experience and puts it into this book that you will want to give to your family and friends.   So he’s giving away books to the first 5 Canadians that respond on his website DrVoon.ca and to every 50th Canadian until the promotion expires. You can buy his book online, special order it at your local bookstore, or ask your local library to add it to their collection.   I also am excited to announce my upcoming virtual Financial Workshop on Sept 17th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 20 attendees!   To connect with me for mentorship/coaching/consulting related questions, please also visit: www.financialhealthdoc.com Or email me at [email protected]

Persistent Quality Part-time Effort is a powerful concept that all physicians must understand. Whether you want to call it Side Hustle or Multiple Revenue Stream, the power is in the financial freedom that it offers from your everyday professional life. One might say "isn't it enough that I am a physician? Why do I need to do something else?". The new medical profession is unlike the old medical professional. Just in a span of 25 years, I have seen it change before my own eyes. Within these changes, the question is "Can I afford not to change myself?".   I also am excited to announce my upcoming virtual Financial Workshop on Sept 17th, 2021. The first one (June 4th 2021) was a success. Thank you for your support! "What would your future self tell you in 30 years that you need to hear now?" Empower your Future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 20 attendees!   To connect with me for mentorship/coaching related questions, please also visit: www.financialhealthdoc.com Or email me at [email protected]

You hear about "rebalancing" often. What is it in fact? What is the purpose of rebalancing? How should you do it? Hear some answers here.   My guest David MacNicol from MacNicol & Associates Asset Management will help us learn more about Rebalancing.   I also am excited to announce my upcoming virtual Financial Workshop on Sept 17th, 2021. The first one (June 4th 2021) was a success. Thank you for your support! "What would your future self tell you in 30 years that you need to hear now?" Empower your Future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 20 attendees!   To connect with me for mentorship/coaching related questions, please also visit: www.financialhealthdoc.com Or email me at [email protected]

At some point in our life, we will be purchasing life insurance. When that time comes, hopefully our broker will educate us on how they help us determine how much life insurance is needed. To answer this simple questions, it could become quite complicated. Here is an episode to help us understand why that is.   I also am excited to announce my upcoming virtual Financial Workshop on June 4th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your Future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 100 attendees!   To connect with me for mentorship/coaching related questions, please also visit: www.financialhealthdoc.com Or email me at [email protected]

Let's start with the premise that we all want to help people - the reason why we decided to go into medicine or nursing. We are all good people. We want to do good for people and our community. Then why did we end up with a College complaint? Are we bad people then? Why do others want to complain about us? Let me tell you, it is a confidence destroyer when that happens. It is also a real source of burnout. Have you ever had a College complaint (yes! the one no one wants to say by name)? You may know why you had the complaint, but do you know the root cause of why you ended up there? If you do not see it, it is just a question of time that another complaint will be at your doorstep. If you have not had a College complaint, then, congratulations! But how can you prevent one? Listen to see if it makes sense.   I also am excited to announce my upcoming virtual Financial Workshop on June 4th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your Future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 100 attendees!   Please also visit: www.financialhealthdoc.com   Email me at [email protected]

I made a lot of financial mistakes in my time and it is the main reason I decided to learn all that I can learn about personal finance. It is the main driver for me launching this podcast back in April 2020. But one mistake I regret the most is the setting up of the RESP for my son. That will be a podcast episode on its own in a near future. Then, when I set up my RESP account for my daughter, I thought I had corrected those previous mistakes. But now, I realize I could have done even better. My god, when does the learning stop? I know the answer, it was just a rhetorical question. Now, listen to these hacks and take advantage of them if you can.   I am excited to announce my upcoming virtual Financial Workshop on June 4th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your Future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 100 attendees!   Please also visit: www.financialhealthdoc.com   Email me at [email protected]

I am sure you have asked this question before: Should I incorporate? A question that have been asked by HCPs since 2009. Well, now, Cherry Chan CPA will answer this questions for you. If you do not listen to this episode, your wallet will resent you for a long long time!   I am excited to announce my upcoming virtual Financial Workshop on June 4th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your Future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 100 attendees!   Please also visit: www.financialhealthdoc.com   Email me at [email protected]

I am sure you have asked this question before: can I write off my car?  Well, now, Cherry Chan CPA will answer this question for you. If you do not listen to this episode, your wallet will resent you for a long long time!   I am excited to announce my upcoming virtual Financial Workshop on June 4th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your Future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 100 attendees!   Please also visit: www.financialhealthdoc.com   Email me at [email protected]

I am sure you have asked these questions before: what can I deduct from my income tax? Is this meal deductible? How about my car lease? Well, now, Cherry Chan CPA will answer these questions for you. If you do not listen to this episode, your wallet will resent you for a long long time!   I am excited to announce my upcoming virtual Financial Workshop on June 4th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your Future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 100 attendees!   Please also visit: www.financialhealthdoc.com   Email me at [email protected]

The financial industry is not as regulated as the healthcare industry. Almost anyone can call themselves "advisors". There are some who have specific designations such as CFP, CFA, CLU (and by all means this is not an exhaustive list here). However, many do not and many are only interested in selling products as opposed to honestly provide advice and strategy. Know who you are dealing with. Are you engaging an advisor or a salesperson?   I am excited to announce my upcoming virtual Financial Workshop on June 4th, 2021. "What would your future self tell you in 30 years that you need to hear now?" Empower your Future self now. Please visit: www.beautifultimesinc.ca/conferenceandworkshops Space is limited to 100 attendees!   Please also visit: www.financialhealthdoc.com   Email me at [email protected]