The Canadian Money Roadmap
Invest smarter, master your money, live & give more
Bonus · Fri, March 28, 2025
What's next for Evan and this podcast
This episode is an update on where I've been and where I'm going next. I'll see you very soon with new episodes! Everything But Money - Live event with Jessica Moorhouse in Saskatoon Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, February 26, 2025
TFSA to RRSP: Maximizing Tax Savings
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Wed, February 12, 2025
Are you going to be ready to retire?
Retirement is a time to enjoy the fruits of your labor, whether it's traveling, spending time with family, or fulfilling your bucket list. In this episode of the Canadian Money Roadmap Podcast, we present 15 critical questions to gauge if you're truly ready for retirement. From understanding your vision for retirement and calculating expenses to planning for healthcare costs and managing risk, these questions will help you plan a confident and fulfilling retirement. Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, January 29, 2025
How to not run out of money in retirement
In this episode of the Canadian Money Roadmap Podcast, Evan Neufeld discusses seven strategies to manage investment risk in your portfolio as you prepare for retirement. Topics include diversification, rules-based implementation, adding bonds, holding cash, annuities, deferring CPP, and using put options. These methods aim to help you retire with confidence while reducing the volatility and uncertainty of your investments. Remember to consult with a financial professional before making any changes to your portfolio. 00:00 Introduction: Politics and Your Portfolio 00:23 Seven Ways to Manage Investment Risk 00:53 Diversification: Don't Put All Your Eggs in One Basket 02:13 Rules-Based Portfolio Implementation 05:26 The Role of Bonds in Your Portfolio 06:09 Cash Wedge Strategy 08:11 Exploring Annuities 09:55 Deferring Your CPP for Better Returns 11:06 Using Options for Portfolio Insurance 12:17 Conclusion and Final Thoughts Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, January 22, 2025
Financial and Retirement Planning for Singles in Canada
Become a client in 2025 In this episode of the Canadian Money Roadmap Podcast, we explore financial and retirement planning tailored for single individuals in Canada. With nearly 30% of Canadian households being single-person households, it's vital to highlight the unique benefits and strategies available for singles. From decision-making ease to agility in financial planning, we discuss the advantages and key priorities for singles aiming to retire with confidence. Additionally, we cover high savings rates, pensions, insurance needs, and the importance of professional financial planning. Tune in to get practical tips and insights specifically for single Canadians. 00:00 Introduction: Financial Planning for Singles in Canada 00:39 Understanding Singleness: Different Scenarios 01:39 Advantages of Being Single in Financial Planning 06:30 Successful Financial Strategies for Singles 10:25 Priorities for Single Individuals 20:09 Conclusion and Final Thoughts Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, January 15, 2025
Save thousands with a spousal RRSP
Watch this episode on YouTube In this episode, we explore the benefits and strategies behind using a spousal RRSP to optimize retirement savings, drawing from a real-life scenario with clients Curtis and Cynthia. The video outlines how high-income earners can contribute to a spousal RRSP under their partner's name and eventually convert it to a spousal RRIF, enabling tax-free withdrawals. We also discuss the spousal attribution rules, the significance of minimum withdrawals, and how to use these funds for TFSA contributions, ensuring the money remains tax-free. Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, January 08, 2025
Your retirement income just changed. Here's why
In this episode, Evan Neufeld delves into how retirement income can fluctuate for Canadian retirees in 2025. Learn about the implications of converting RRSPs to RRIFs, including changes in minimum withdrawal amounts, portfolio balance changes, and withholding tax. Evan also explains the complexities of LIFs, inflation adjustments for CPP and OAS benefits, and offers practical advice to plan for these changes in your retirement income. Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Mon, December 23, 2024
Income tax is changing in 2025. Here's what's new and what isn't...
Book an intro call with Evan Neufeld, CFP® Watch this episode on YouTube Credit for the idea for this video goes to Aaron Hector from CWB Wealth. You can find more of his insights on X and LinkedIn: https://x.com/AaronHectorCFP https://www.linkedin.com/in/aaronhector/ In this video, we discuss the recent changes announced by the Canadian government to income tax brackets and various benefits for 2025. These changes include a 2.7% increase to match inflation. While many benefits will see an increase, some elements such as the CPP death benefits and withholding tax system for RRIFs have remained unchanged for decades. Additionally, we examine other benefits like non-refundable tax credits, pension income amounts, and the Canada Education Savings Grant that have not kept up with inflation. Learn how these adjustments and untouched areas could affect your finances in the coming year. Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, December 11, 2024
How to save more money in 2025
In this episode of the Canadian Money Roadmap Podcast, we explore practical strategies to save more money and improve your finances for 2025. Learn about the importance of reassessing your regular expenses, finding cheaper alternatives for necessities, and cutting down on non-essential recurring costs. We also discuss ways to save on travel expenses and effectively allocate your savings to ensure long-term financial benefits. Whether it’s lowering your phone bill or smart travel planning, these tips can help you get a head start on your New Year’s resolution to save more and spend less. 00:00 Introduction: New Year's Resolution for 2025 00:12 Practical Tips to Save Money Now 01:01 Reducing Regular Expenses: Phone Bills 07:32 Cutting Down on Non-Necessities 11:45 Saving on Travel Expenses 20:58 Maximizing Your Savings 22:51 Conclusion: Improving Your Finances for 2025 Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, November 27, 2024
Financial Checklist To Set You Up For 2025
Watch this episode on YouTube As the year draws to a close, Evan shares nine powerful strategies to enhance your financial health, decrease your tax liabilities, and set yourself up for future success. Whether you're retired, working, or just starting your financial journey, this episode offers valuable insights including a new update relevant for 2024. Topics covered include opening a first home savings account (FHSA), tax loss/gain harvesting, timing TFSA redemptions, charitable giving, RRSP and RESP contributions, RRIF conversions, and the benefits of a registered disability savings plan (RDSP). Tune in to ensure you're on the right financial track as we approach 2025! Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, November 20, 2024
How to use a TFSA for retirement
Watch this episode on YouTube In this episode of the Canadian Money Roadmap Podcast, we delve into the many benefits of Tax-Free Savings Accounts (TFSAs) for retirement income, covering one-time expenses, and leaving a tax-free legacy for your family. Discover how TFSAs can provide tax-free retirement income, offer flexibility for large expenses, and simplify your estate planning. Don't miss this eye-opening discussion that could change how you think about your retirement strategy. 00:00 Introduction to TFSA for Retirement 00:41 TFSA vs. RRSP: Understanding the Differences 01:50 Using TFSA for Regular Monthly Income 03:40 Withholding Taxes: A Deep Dive 06:23 Systematic Withdrawal Plans (SWPs) 08:02 Covering One-Time Expenses with TFSA 12:34 TFSA for Estate Planning and Legacy 16:45 Conclusion and Recap Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, November 06, 2024
7 Tips for a Fulfilling and Purposeful Retirement
Watch this episode on YouTube In this episode of the Canadian Money Roadmap Podcast, we explore seven actionable ideas to ensure a fun, fulfilling, and purposeful retirement. Moving beyond the financial aspects of retirement planning, Evan delves into the importance of creating structure, lifelong learning, building intentional relationships, focusing on health and wellness, giving back through service, engaging in creative pursuits, and thinking about your legacy. Through real-life examples and practical advice, this episode is designed to help you plan for a rewarding retirement experience. 00:00 Introduction: Purposeful Retirement 00:30 The Importance of Planning Beyond Finances 02:58 Creating a Retirement Vision Statement 03:50 Adding Structure to Your Retirement 07:13 Lifelong Learning and New Skills 09:29 Building Intentional Relationships 11:52 Prioritizing Health and Wellness 14:12 Service and Giving Back 15:54 Cultivating Creativity 18:12 Leaving a Legacy 20:24 Conclusion and Final Thoughts Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, October 23, 2024
Retire on Autopilot
Watch this episode on YouTube In this episode, Evan outlines three key decisions to set up your retirement on autopilot: asset allocation, choosing the right plan type like RRSP or TFSA, and deciding how much to regularly invest. Learn how to simplify your retirement investing strategy with clear, actionable steps. Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, October 09, 2024
How to calculate your retirement number
In this episode of the Canadian Money Roadmap Podcast, Evan discusses the limitations of the '25x your expenses' rule for retirement savings. He delves into real-world considerations and personalized financial planning to realistically determine one's retirement number. Covered topics include tax implications, government benefits, retirement spending needs, and investment strategies, illustrating how these components can drastically alter retirement savings goals. The episode aims to inform listeners about personal finance beyond general guidelines, emphasizing the significance of tailored financial planning. 00:00 Introduction to Calculating Your Retirement Number 00:31 Welcome and Background Information 01:04 Overview of the Retirement Roadmap Series 01:43 Understanding the 25 Times Principle 02:57 Hypothetical Couple Case Study 04:02 Detailed Financial Breakdown 06:35 Retirement Spending and Timing 09:00 Government Benefits and Pensions 12:49 Impact of Assumptions on Retirement Number 17:47 Major Wrinkles Affecting Your Retirement Number 23:58 Conclusion and Final Thoughts Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, September 25, 2024
Retirement Roadmap: Mapping Out Your Income Sources
Watch this episode on YouTube Join us in Episode 4 of the Retirement Roadmap series on the Canadian Money Roadmap Podcast as we delve into the essential strategies and income sources to ensure a secure retirement. This episode focuses on practical steps to estimate your Canada Pension Plan (CPP) and Old Age Security (OAS) benefits, and how to integrate additional income sources like pensions, savings, and other assets. We also share tips on planning for fixed and variable income streams, emphasizing the importance of a comprehensive retirement plan. Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, September 18, 2024
Building Your Dream Retirement: Setting Targets and Goals
In this episode of the Canadian Money Roadmap Podcast, join Evan as he discusses how to build your dream retirement on your terms. Learn about setting spending and time targets, the importance of early planning, and practical savings milestones you should aim for at different ages. Whether you're aiming for financial freedom, work optional, or traditional retirement, this episode is packed with valuable insights to help you plan effectively. Tune in to discover how to align your retirement goals with your current lifestyle and income, and ensure you retire confidently. Don't forget to subscribe for more episodes on achieving your financial goals 00:00 Introduction to Building Your Dream Retirement 00:40 Setting Retirement Goals and Targets 03:24 Understanding Retirement Spending 08:34 Determining Your Retirement Timeline 14:52 Savings Milestones for Retirement 18:15 Recap and Next Steps Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, September 11, 2024
Don’t even THINK about retirement before doing these 5 things
Invest With Evan Watch this episode on YouTube In today's episode of the Canadian Money Roadmap Podcast, we continue our Retirement Roadmap Series by focusing on the foundational elements necessary for a secure retirement. We discuss essential steps like ensuring consistent cash flow, getting disability and life insurance, setting up a will, and eliminating high-interest debt. We also feature a real-world analogy of the Millennium Tower in San Francisco to underline the importance of a strong foundation. Join us as we outline how to set the groundwork for a stable financial future. 00:00 Introduction to the Retirement Roadmap Series 00:34 The Importance of a Solid Financial Foundation 03:54 Step 1: Managing Cashflow 07:47 Step 2: Disability Insurance 11:56 Step 3: Life Insurance 19:08 Step 4: Creating a Will 22:33 Step 5: Tackling High-Interest Debt 28:14 Conclusion and Next Steps Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, September 04, 2024
The Most Overlooked Step in Retirement Planning
In today's episode of the Canadian Money Roadmap Podcast, we embark on the first step in building your retirement roadmap. I'll share insights into getting your finances ready for this major life event, emphasizing the importance of organization. I'll also recount some personal experiences from our summer camping trips to highlight the significance of having a proper plan. Plus, don't miss the introduction of a fantastic tool to help you stay organized, covering everything from listing your investment accounts to ensuring your insurance details are in order. Join me and take the first step toward a well-organized financial future. Download The Full Financial Picture Spreadsheet Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, August 28, 2024
Your kids can graduate university debt-free | Feat. Jason Yee, CEO of GrantMe
Watch this episode on YouTube In this episode of the Canadian Money Roadmap podcast, host Evan Neufeld chats with Jason Yee, the dynamic co-founder and CEO of GrantMe . Jason shares invaluable insights on how Canadian families can navigate their way to a debt-free university education for their children. From understanding the difference between grants, bursaries, and scholarships to the strategic timing of applications, Jason covers it all. Whether you’re a parent looking to ease the financial burden of your child’s education or a student preparing for the future, this conversation is packed with actionable advice. Tune in to learn how proactive planning and smart financial decisions can make higher education affordable and attainable. Don't miss this opportunity to hear from an expert who's helped thousands of students successfully graduate debt-free. Enjoy the discussion! Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Bonus · Thu, August 15, 2024
The Laws of Wealth with Dr. Daniel Crosby - Greatest Hits
Join me as I revisit one of my most popular episodes ever on the Canadian Money Roadmap Podcast. In this special summer highlight, I delve into 'The Laws of Wealth' with Dr. Daniel Crosby. Dr. Crosby, a psychologist and behavioural finance expert, provides valuable insights into the psychology of money and how it shapes our financial decisions and behaviours. Whether you're a seasoned investor or just starting your financial journey, this episode is packed with actionable advice and fascinating discussions on becoming a better investor and managing risk. Tune in to learn from Dr. Crosby’s expertise and discover practical strategies to enhance your financial well-being. Don’t miss this chance to hear from one of the best in the field. Enjoy your summer and I'll see you with new episodes in September! Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, June 12, 2024
My career path as an independent CFP® Professional
In this episode of the Canadian Money Roadmap Podcast, host Evan Neufeld shares his personal journey to becoming a certified financial planner at an independent investment firm in Canada. Evan discusses his educational background, early entrepreneurial ventures, and the pivotal moments that led him to his current role. He elaborates on his experience transitioning his firm's dealer to Sterling Mutuals and explains what it means to work at an independent firm. Evan also shares insights into his business practices and his plans for the podcast and his YouTube channel over the summer. Email Evan at hello@evanneufeld.com 00:00 Introduction and Listener Feedback 01:56 Taking a Summer Break 03:42 Early Aspirations and Education 06:48 Entering the Financial Planning Industry 09:20 Joining Enns and Baxter Wealth Management 09:42 Understanding Independent Firms 15:41 Building the Business and CFP Designation 20:33 Transitioning Clients and COVID Challenges 22:43 Starting the Podcast 25:41 Future Plans and Conclusion Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, June 05, 2024
Retirement Reality Check: Know Your Income Needs
In today's episode, we're tackling one of the biggest challenges pre-retirees face: accurately calculating their retirement income needs. Many people underestimate their expenses, leading to potential shortfalls in their retirement planning. Join host Evan Neufeld as he breaks down the essential expenses you'll need to consider, including those that will remain, those that will disappear, and new ones that might arise. Evan provides practical tips and a free downloadable spreadsheet to help you categorize and estimate your spending, ensuring you have a clear roadmap to a secure retirement. Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, May 29, 2024
Ask Evan: Your Financial Questions on Taxes, Investing, and Retirement
In this episode of the Canadian Money Roadmap Podcast, Evan Neufeld addresses a wide range of listener questions. Topics covered include understanding capital gains on property sales, taxation of CPP payments, investment strategies for different time horizons, setting up custodial accounts for children, and managing pensions from previous employers. Evan offers practical financial advice, discusses the importance of timeline-specific investment risk, and highlights the value of working with a financial advisor. 00:00 Welcome to the Canadian Money Roadmap Podcast 01:49 Capital Gains: Understanding Taxes on Property Sales 05:12 Decoding CPP Taxes: Monthly or Yearly? 06:47 Investing After a Settlement: Short-Term vs. Long-Term Strategies 11:17 Setting Up Custodial Investment Accounts for Kids ( Expert Advice on Selecting the Best Financial Planner for Your Needs ) 15:12 Navigating Pension Options: To Move or Not to Move 19:55 Maximizing RESP Contributions Without Government Grants 21:49 Exploring a Career in Financial Planning 22:55 Looking Ahead: Retirement Planning Episodes Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Bonus · Tue, May 28, 2024
Can you retire at 55 with $500,000 in Canada?
Can You Retire at 55 in Canada with $500,000? Watch this episode on YouTube In this special Tuesday edition of the Canadian Money Roadmap Podcast, host Evan Neufeld shares the audio from his recent YouTube video discussing the feasibility of retiring with $500,000 in savings for a 55-year-old couple. He explores various factors such as spending needs, savings strategies, and the impact of deferring Canada Pension Plan (CPP) benefits to age 70. Using retirement planning software and Monte Carlo analysis, Evan evaluates the couple's retirement projections, highlights shortfalls, and suggests changes to create a successful retirement plan. Key recommendations include retiring closer to age 65, saving more in Tax-Free Savings Accounts (TFSAs), and deferring CPP benefits to secure guaranteed, inflation-protected income later in life. 00:00 Welcome to the Special Tuesday Edition! 00:55 Retiring in Canada with $500,000: Is It Enough? 01:51 Exploring Retirement Planning Software Insights 02:58 Adjusting Retirement Strategies for Success 03:50 The Impact of Deferring Retirement and CPP Benefits 08:58 Stress Testing the Retirement Plan with Monte Carlo Analysis 10:34 Final Recommendations and Summary 13:06 Closing Thoughts and Podcast Sign-off Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, May 22, 2024
Investment Fund Performance: Costs, Turnover, and Long-Term Success
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
Wed, May 15, 2024
I want to answer your questions! Here's the first one...
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
Wed, May 08, 2024
Understanding Trusts for Effective Financial and Estate Planning
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
Wed, May 01, 2024
TFSAs 101: My guest appearance on The Tax Chick Podcast with Amanda Doucette
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
Wed, April 24, 2024
Inefficiency is your friend...sometimes.
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
Wed, April 17, 2024
Understanding Segregated Funds with Mark McGrath
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
Wed, April 10, 2024
Time to sell? What you should expect after a good run for stocks
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
Wed, April 03, 2024
3-7% Returns, TFSA Multi-Millionaires and What To Do Beyond $100,000
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
Wed, March 27, 2024
What happens to your RRSP after retirement?
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
Wed, March 20, 2024
Income Splitting Strategies in Retirement
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
Wed, March 13, 2024
Avoid These 6 TFSA Mistakes
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
Wed, March 06, 2024
The Secret Ingredients of Stock Market Success
**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
Wed, February 28, 2024
Are ETF's safe?
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
Wed, February 21, 2024
The FIRE Movement with Sam Lichtman
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
Wed, February 14, 2024
Maximizing Retirement Savings and Tax Benefits with Spousal RRSP Strategies
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
Wed, February 07, 2024
Mastering Tax Season: A Guide to Navigating the CRA My Account
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
Wed, January 31, 2024
Building Stability With Variable Income | With Aravind Sithamparapillai
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
Wed, January 24, 2024
Are stocks expensive? What should you do about it?
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
Wed, January 17, 2024
Should you invest when stocks are at all time highs?
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
Wed, January 10, 2024
My Financial Areas of Focus For 2024
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
Wed, January 03, 2024
Tax-Free Income for Families: Maximizing Your Canada Child Benefit
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
Bonus · Wed, December 27, 2023
Dividend Investing: Busting Myths and Understanding Risks with Mark McGrath (Replay)
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
Bonus · Wed, December 27, 2023
Becoming a TFSA Millionaire: Creating Generational Wealth with a Small Monthly Investment (Replay)
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
Wed, December 20, 2023
Get on the same page: Communication, Collaboration, and Future Planning with your partner
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
Wed, December 13, 2023
Inconvenient Truths about Investing
You might not want to hear it... but here are 7 inconvenient truths about investing: Low fees won't solve all your financial problems Any long term investment worth owning will go down at some point If you're properly diversified, some part of your portfolio will always be underperforming Someone you know will always have a better performing portfolio than you 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). Making money in the stock market takes a lot of time Past performance is not indicative of future results (including the S&P 500!) Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, December 06, 2023
Financial Strategies for the End of 2023
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
Wed, November 29, 2023
Quit Making These Investing Mistakes
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
Wed, November 22, 2023
A gift for the person who has everything
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
Wed, November 15, 2023
Understanding Your Money: Why Financial Literacy Is Actually Important
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
Wed, November 08, 2023
The Money Topics You Need To Know
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
Wed, November 01, 2023
Making a $187,000 TFSA Contribution
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
Wed, October 25, 2023
Maximizing Your Canada Pension Plan (CPP) Benefits with Jason Yee
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
Wed, October 18, 2023
Dealing with Job Loss, The Cost of Homeownership, "Bad" Investments, and Intro To The Enhanced CPP
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
Wed, October 11, 2023
Managing and Transitioning Generational Wealth: Keys to Success with Steve Willems CFP®
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
Wed, October 04, 2023
Exploring Retirement: Perceptions, Priorities, and Planning with Michelle Munro
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
Wed, September 27, 2023
The Laws of Wealth with Dr. Daniel Crosby: Behavioural Finance and The Power of Rules-Based Investing
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
Wed, September 20, 2023
My Money Philosophy
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
Wed, September 13, 2023
Dividend Investing: Busting Myths and Understanding Risks with Mark McGrath
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
Wed, September 06, 2023
Strategies to Improve Your Finances Today
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
Wed, August 30, 2023
Tips For A Beginner Investor
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
Wed, August 23, 2023
The Three-Account Cash Flow System for Financial Stability
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
Tue, August 15, 2023
The Language of Money (For Canadians!)
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
Wed, August 09, 2023
Your TFSA Questions Answered
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
Wed, August 02, 2023
New and Noteworthy: YTD Stock Market Returns, Bad TikTok advice and Beyoncé causing inflation
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
Wed, July 26, 2023
Discovering the Truth behind Investment Returns
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
Wed, July 19, 2023
Becoming a TFSA Millionaire: Creating Generational Wealth with a Small Monthly Investment
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
Wed, July 12, 2023
What's your net worth?
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
Wed, July 05, 2023
Why you're trailing the market, credit card myths, comparing to others and lottery decisions
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
Wed, June 28, 2023
The Power of Single Fund Strategies
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
Wed, June 21, 2023
Expert Advice on Selecting the Best Financial Planner for Your Needs
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
Wed, June 14, 2023
New and Noteworthy: Wildfire Impact, Interest Rates, Building Wealth In Canada and VC's Abandoning Crypto
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
Bonus · Wed, June 07, 2023
Unlock Your Financial Potential: Find Your Focus Scorecard
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
Wed, May 31, 2023
Baseball, Emotions, and the Expectations of Investing
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
Wed, May 24, 2023
Your Q's Answered: Portfolio Building, TFSAs, and Navigating Capital Gains Tax
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
Wed, May 17, 2023
How To Get Rich: Netflix Series Review
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
Wed, May 10, 2023
How to invest your first $100,000
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
Wed, May 03, 2023
$1M RRSPs, $90k Bill to CRA and Costco Savings
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
Wed, April 26, 2023
Trust The Process
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
Wed, April 19, 2023
Estate Planning Isn't Scary with Lauren Scharfstein
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
Wed, April 12, 2023
Maximizing the First Home Savings Account: A Complete Guide with Aaron Hector CFP®, R.F.P., TEP
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
Wed, April 05, 2023
Government Spending, Higher Oil Prices and a $1 Billion Lawsuit
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
Wed, March 29, 2023
Dumb Money Mistakes I've Made
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
Wed, March 22, 2023
Understanding Your Workplace Benefits with Andrea Hansen CFP®
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
Bonus · Fri, March 17, 2023
What happened to Silicon Valley Bank??
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
Wed, March 15, 2023
How To Maximize The Value of Your RRSP
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
Wed, March 08, 2023
Your Money Lifeforce
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
Wed, March 01, 2023
$1.7 Million & 1.7%: Retirement Needs and Returns Missed
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
Wed, February 22, 2023
Corporations: Benefits, Taxes and Investing Considerations with Mark McGrath CFP®, CIM®, CLU®.
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
Wed, February 15, 2023
Your Investment Approach: Small Cap and Value Stocks
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
Wed, February 08, 2023
Your Investment Approach: Diversification
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
Wed, February 01, 2023
4.5% Interest Rates, Grocery Prices and Tech Layoffs
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
Wed, January 25, 2023
Your Investment Approach: Active vs Passive
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
Wed, January 18, 2023
Your Investment Approach: Strategic or Tactical
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
Wed, January 11, 2023
Your Investment Approach: Stocks and Bonds
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
Wed, January 04, 2023
Building Your Investment Approach
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
Wed, December 28, 2022
What you need to know going into 2023
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
Wed, December 14, 2022
6 Benefits of professional financial advice with Steven Guenther, CFP®
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
Wed, November 30, 2022
Financial Mistakes To Avoid In Your 30's
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
Wed, November 16, 2022
Are you financially literate?
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
Wed, November 02, 2022
Your Questions Answered - November 2022
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
Wed, October 19, 2022
Using Factors to Invest Smarter
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
Wed, October 05, 2022
Understanding the Stock Market and Indexes
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
Wed, September 21, 2022
The Wisest Investment with Robin Taub
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
Wed, September 07, 2022
How to reduce points of failure in your portfolio
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
Wed, August 24, 2022
Investing for Good: Understanding ESG Investing
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
Wed, August 10, 2022
Dividend Investing
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
Wed, July 27, 2022
What happens to your pension when you leave your job?
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
Wed, July 13, 2022
Leverage: Should you borrow money to invest?
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
Wed, June 29, 2022
The Man In The Arena
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
Wed, June 15, 2022
Just Keep Buying by Nick Maggulli: Review, Thoughts and Key Takeaways
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
Wed, June 01, 2022
Guide to Recessions and Bear Markets
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
Wed, May 18, 2022
Tax-saving strategies for making the most of your charitable gifts
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
Wed, May 04, 2022
Why you should care about rising interest rates
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 Setting the stage - interest rates are rising What happens when interest rates rise How does that affect you How does that impact your investment portfolio 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
Wed, April 20, 2022
How to help your kids buy a home
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 Why this is a relevant discussion in 2022 The oxygen mask principle From the parent perspective, could you help your kids? Should you help your kids? 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
Wed, April 06, 2022
Should you rent or buy a home?
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 Why this is a relevant discussion in 2022 As house prices between more expensive, what are your options What factors should you consider for renting What factors should you consider for buying 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
Wed, March 23, 2022
Start planning for your next vacation
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 Memorable vacations Planning for a vacation - things to consider Typical costs you might incur on a vacation Currency considerations 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
Wed, March 09, 2022
Reduce your taxes with deductions and credits
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 Opportunities for tax planning as an employee vs business owner Defining deductions and credits Refundable vs non-refundable credits 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
Thu, February 24, 2022
How will the Russia-Ukraine conflict affect your strategy?
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 Living, and specifically investing, in “uncertain” times How the stock market has historically reacted to wars Typical mistakes to avoid during corrections and crashes Staying informed of world events, but with context 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
Wed, February 23, 2022
Why do prices keep going up?
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 Inflation - how does it happen Slowing down inflation Central banks and monetary policy 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
Wed, February 09, 2022
The Perfect RRSP Strategy
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 RRSP contribution deadline RRSP definition and details Options with your RRSP refund 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
Wed, January 26, 2022
Dips, Corrections and Crashes
EPISODE SUMMARY In this episode, Evan discusses what might be going on in the market when you see headlines mentioning dips, corrections, crashes, or bear markets. Declines in the market happen more frequently than you’d probably think, so Evan provides tips to successfully navigate declining stock markets. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Defining dips, corrections, crashes, and bear markets Clarifying how often these events occur and how they likely happen more often than you realize Tips to survive these types of market conditions Know that you aren’t alone during these types of market events! RESOURCES MENTIONED Recessions and Bear Markets - Investor Guide OTHER EPISODES 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
Wed, January 12, 2022
5 Steps to set up your TFSA for 2022
EPISODE SUMMARY As we start a new year, today’s episode gives you 5 steps to set up your TFSA in 2022. A new year means additional contribution room, so this is a perfect time to give this episode a listen! ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE 5 steps to set up your TFSA in 2022 Understanding your objective Understanding your risk profile and allocation TFSA contribution limits How a TFSA can fit into your long-term plan RESOURCES MENTIONED Vanguard Investor Questionnaire** TFSA Limits for 2022 **This questionnaire and the sample asset allocations do not provide investment or financial advice. The sample asset allocations presented are not tailored to any particular investor's circumstances. Investors should speak with a financial advisor for help in selecting an appropriate asset allocation for their particular circumstances and carefully consider all options before investing. OTHER EPISODES 10. Using a TFSA Like a Pro 24. TFSAs are Great but Watch Out…. 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
Wed, December 29, 2021
How can money make you happier? A conversation with Andrew Hallam
EPISODE SUMMARY On the podcast today is Andrew Hallam. Andrew is the acclaimed author of the popular personal finance books Millionaire Teacher and Millionaire Expat , but he joins me today to discuss his latest book as it relates to money and happiness. Andrew’s new book is called Balance: How to Invest and Spend for Happiness, Health and Wealth and is available on January 18, 2022. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE How success, money, health and happiness are related What should we focus on Finding balance in life RESOURCES MENTIONED Andrew Hallam - Website Balance - The Book OTHER EPISODES 34. Do I Really Need to Have $1M to Retire 46. Maximize the Tax Benefits of Your Charitable Giving 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
Wed, December 15, 2021
Do you really need to have $1M to retire?
EPISODE SUMMARY In this episode, Evan covers off some rules of thumb for saving for retirement and how to know if you’re on pace. Evan answers the question of whether you really need $1M to retire. Build your financial plan with Evan ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE How much do you actually need to save for retirement What impacts your retirement savings needs Savings rule of thumbs and systems Recommendations to make saving as easy as possible Is $1M the right amount to have for retirement RESOURCES MENTIONED The Rule of 30 - book OTHER EPISODES 17. Investing Basics Part 1 - Stocks 18. Investing Basics Part 2 - Bonds 27. Will you Have any Guaranteed Sources of Income in Retirement 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
Wed, December 15, 2021
34. Do you actually need $1M to retire?
In this episode I talk about some strategies for saving for retirement, how to know if you're on pace and whether you actually need a million dollars to retire. Download my retirement readiness checklist HERE for free If you're a DIY investor but need some help to nail down the details of your retirement plan, send me an email at hello@evanneufeld.com or check out the Financial Planning tab on my website.
Wed, December 01, 2021
Are your investments appropriate for your retirement timeline?
EPISODE SUMMARY On this episode, Evan provides a framework to think about whether your investments are appropriate for your retirement timeline. Managing risk might mean you need to make adjustments to your portfolio as you get closer to retirement and throughout your retirement years. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Investment risk and reward Matching risk with your investment timeline How to manage and assess risk OTHER EPISODES 26. Rebalance Your Investments 27. Will you Have any Guaranteed Sources of Income in Retirement 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
Wed, November 17, 2021
Do you need an emergency fund in retirement?
EPISODE SUMMARY When you're living off your savings instead of relying on employment income, the idea of an emergency fund changes a bit. Here's a quick episode with what Evan recommends! Continue to follow along through this series by downloading your copy of the retirement readiness checklist below. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Is an emergency fund still relevant, or required, in retirement How an emergency fund fits into the context of an investment portfolio Concept of a war chest Alternative sources for emergency funding OTHER EPISODES 1. Should you Have an Emergency Fund? 22. Optimize your Investments by Plan Type 33. Are your Investments Appropriate for your Retirement Timeline? 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
Wed, November 03, 2021
That other government pension plan... OAS (Old Age Security)
EPISODE SUMMARY Today’s episode focuses on Old Age Security, another one of the government benefits you may receive. Evan walks through the basics of OAS, how to qualify, and how much you might receive. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE How OAS works and what it is How much OAS you could receive How to qualify for OAS Items to be aware of, including OAS recovery tax RESOURCES MENTIONED Government of Canada - OAS Overview Government of Canada - Guaranteed Income Supplement OTHER EPISODES 27. Will you Have any Guaranteed Sources of Income in Retirement 30. How Much Will You Get From the Canada Pension Plan? 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
Wed, October 20, 2021
How much will you get from the Canada Pension Plan?
EPISODE SUMMARY Today’s episode focuses on the Canada Pension Plan. As CPP will be a component of your retirement paycheque, Evan walks you through CPP specifics and how much you might receive. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE How CPP works and what it is CPP funding and contributions How you can find out how much you might receive Impacts to your payment based on early or late receipt of the benefit RESOURCES MENTIONED CPP Investments My Service Canada Account Log-In Page OTHER EPISODES 27. Will you Have any Guaranteed Sources of Income in Retirement 31. That Other Government Pension Plan…OAS (Old Age Security) 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
Wed, October 06, 2021
RRSP, LIRA, TFSA.... Where do you withdraw from first?
EPISODE SUMMARY Spending is easy, but spending with the goal of reducing your lifetime tax bill isn't as straightforward. In this episode, Evan explains how your different plans (RRSP/RRIF, LIRA/LIF, Non-registered and TFSA) are treated from a tax perspective and how to prioritize your withdrawals to keep more money in your pocket. Grab your copy and follow along with our retirement readiness checklist series by clicking the link below. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Making a retirement savings withdrawal plan Making sure your spending is as efficient as possible to reduce lifetime taxes Different types of retirement accounts and how each one treats tax How to prioritize withdrawals OTHER EPISODES 10. Using a TFSA Like a Pro 13. Is an RRSP the Best Choice for Your Retirement Savings 22. Optimize your Investments by Plan Type 24. TFSAs are Great but Watch Out… 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
Wed, September 22, 2021
Do you plan to work in retirement?
EPISODE SUMMARY Today’s episode continues our series highlighting the items from my retirement readiness checklist. Get your copy by downloading the checklist from the link below! Working in retirement is a bit of an oxymoron but many people choose to pick up jobs to supplement their income, stay active or even start a business in a new field entirely! You’ll want to watch out for tax and OAS clawback when earning employment income in retirement. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Why Canadians work in retirement What does retirement employment typically look like How your employment income is taxed How employment income affects other retirement income sources RESOURCES MENTIONED Government of Canada - OAS Recovery Tax OTHER EPISODES 27. Will you Have any Guaranteed Sources of Income in Retirement 30. How Much Will You Get From the Canada Pension Plan? 31. That Other Government Pension Plan…OAS (Old Age Security) 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
Wed, September 08, 2021
Will you have any guaranteed income in retirement?
EPISODE SUMMARY Today’s episode is the first in a series highlighting the items from my retirement readiness checklist. Get your copy by downloading the checklist from the link below! Having guaranteed income from a pension, annuities or government benefits can be critical to your success in retirement. These items will form your "income floor,” putting a lower bound on your lifetime income. Understanding your income floor is a good place to start when planning for a confident retirement! ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Quick outline of the retirement readiness checklist Possible sources of guaranteed income in retirement Pensions, annuities, CPP, OAS Understanding your income floor RESOURCES MENTIONED Government of Canada - CPP Overview Government of Canada - OAS Overview OTHER EPISODES 30. How Much Will You Get From the Canada Pension Plan? 31. That Other Government Pension Plan…OAS (Old Age Security) 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
Wed, August 18, 2021
Rebalance your investments
EPISODE SUMMARY Over time your investment portfolio will move along with the market. Stocks and bonds will move at different speeds and sometimes in different directions. These investments in your portfolio won’t stay in the perfect split that you want. To keep your risk profile in check and take advantage of lower prices in other assets, rebalancing is your friend! ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE What is target asset allocation What might lead you to need to rebalance Methods to rebalance Rebalance frequency OTHER EPISODES 20. Understanding Investment Risk 21. Stocks, Bonds, or Cash? How do you Decide? 37. Dips, Corrections and Crashes 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
Wed, August 11, 2021
Reduce taxes with a spousal RRSP
EPISODE SUMMARY Here are a few ideas to help you contribute money to a spousal RRSP in a high tax bracket and withdraw in a low bracket in the future. In the right situation, you can drastically reduce your lifetime tax bill by using a spousal RRSP correctly. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE What a spousal RRSP is Why you might want to use a spousal RRSP Examples of a spousal RRSP in action Tax savings and other considerations RESOURCES MENTIONED Government of Canada - Spousal RRSPs OTHER EPISODES 13. Is an RRSP the Best Choice for your Retirement Savings 29. RRSP, LIRA, TFSA…Where do you Withdraw From First? 38. The Perfect RRSP Strategy 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
Wed, August 04, 2021
TFSAs are great but watch out....
EPISODE SUMMARY TFSAs are the best way to invest smarter and reduce taxes over the long term. But you’ll want to be careful of some of these critical pitfalls that can get you into trouble. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Quick refresh on what a TFSA is and how it works Explanation of TFSA contribution room and how it accumulates Overcontribution rules and penalties How you can’t claim capital losses in a TFSA RESOURCES MENTIONED Government of Canada - TFSA Guide OTHER EPISODES 10. Using a TFSA Like a Pro 29. RRSP, LIRA, TFSA…Where do you Withdraw from First? 36. 5 Steps to Set Up Your TFSA for 2022 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
Wed, July 28, 2021
Investing vs Gambling
EPISODE SUMMARY While some people think that investing is essentially gambling, Evan uses this episode to explain how investing is the opposite of gambling when you have time on your side. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Evan’s thoughts on taking investing advice from the media How investing is not the same as gambling How long term investing is in your favour RESOURCES MENTIONED Morningstar OTHER EPISODES 17. Investing Basics Part 1 - Stocks 18. Investing Basics Part 2 - Bonds 20. Understanding Investment Risk 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
Wed, July 21, 2021
Optimize your investments by plan type
EPISODE SUMMARY Evan and Steven are back to discuss where to invest your stocks and bonds to save as much tax as possible. If investment income is taxed in different ways (interest vs capital gains vs dividends) and each plan type (RRSP vs TFSA vs Non-Registered) creates taxable income in different ways, you need to have a plan to invest with the goal of reducing taxes over time. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Pre-tax vs after-tax returns Various types of investments accounts - TFSA, RRSP, Non-registered Types of income and how they are each taxed - interest, dividends, capital gains How each investment account treats tax Pairing asset allocation with investment plan type OTHER EPISODES 7. Tax Basics and “The Next Bracket” Myth 10. Using a TFSA Like a Pro 13. Is an RRSP the Best Choice for your Retirement Savings 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
Wed, July 14, 2021
Stocks, Bonds or Cash? How do you decide?
EPISODE SUMMARY When building an investment portfolio, the mix between stocks, bonds, cash and other assets is called Asset Allocation. Steven Guenther, CFP, joins me again to discuss this critical aspect of building an appropriate portfolio you can stick with for the long term. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Defining various asset classes What asset allocation means Understanding how asset allocation impacts your portfolio Deciding on your asset allocation and finding the appropriate investment to match OTHER EPISODES 17. Investing Basics Part 1 - Stocks 18. Investing Basics Part 2 - Bonds 33. Are your Investments Appropriate for your Retirement Timeline? 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
Wed, July 07, 2021
Understanding Investment Risk
EPISODE SUMMARY Today’s episode kicks off our summer series focused on the themes of investing smarter and reducing taxes. Certified Financial Planner, Steven Guenther, joins me again to discuss risk and how to think about it for your investments. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE What is investment risk and how to measure it Risk of different assets and understanding risk in your portfolio Relationship between risk and return Understanding your risk capacity and risk tolerance OTHER EPISODES 21. Stocks, Bonds, or Cash? How do you Decide? 23. Time Heals all Wounds 33. Are your Investments Appropriate for your Retirement Timeline? 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
Thu, May 27, 2021
The Next Steps - Season 2 Recap
Thanks for listening to season 2 of the Canadian Money Roadmap! Heres a recap episode of everything we covered on the "Next Steps" season. If you have questions or ideas you'd like to see on future episodes, please send me an email at evan@ennsbaxter.com Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Fri, May 14, 2021
Investing Basics Part 3 - Mutual Funds and ETFs
EPISODE SUMMARY How can an average person buy stocks and bonds easily and make sure they are diversified in the process? Mutual funds and ETFs (exchange traded funds) can help! On today’s episode, Evan walks through these two options. The discussion isn't a recommendation of either or a head to head battle with a winner, but just compares the two investment tools and highlights some pros and cons of both. Always do your research before investing and be careful about believing everything you hear in advertising! ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Understanding mutual funds Understanding ETFs Comparing mutual funds and ETFs Pros and cons of each option OTHER EPISODES 17. Investing Basics Part 1 - Stocks 18. Investing Basics Part 2 - Bonds 20. Understanding Investment Risk 21. Stocks, Bonds, or Cash? How do you Decide? 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
Wed, April 28, 2021
Investing Basics Part 2 - Bonds
EPISODE SUMMARY Today Evan dives into the investment you have heard of but probably don’t really understand. Evan provides the basics on bonds and how they might fit into your portfolio. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE What are bonds How can you make money with bonds Why should you consider bonds for your portfolio OTHER EPISODES 17. Investing Basics Part 1 - Stocks 19. Investing Basics Part 3 - Mutual Funds and ETFs 20. Understanding Investment Risk 21. Stocks, Bonds, or Cash? How do you Decide? 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
Wed, April 14, 2021
Investing Basics Part 1 - Stocks
EPISODE SUMMARY On today's episode, Evan will be covering off some of the basics when it comes to investing in stocks. There are no recommendations or hot stock picks here but just what you need to know before you dive into the world of investing. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Clarify key language used with stock investing Define what stocks are How do you make money with stocks What affects the price of a stock Why should you own stocks OTHER EPISODES 18. Investing Basics Part 2 - Bonds 19. Investing Basics Part 3 - Mutual Funds and ETFs 21. Stocks, Bonds, or Cash? How do you Decide? 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
Wed, March 31, 2021
Registered Education Savings Plans featuring Steven Guenther, CFP
EPISODE SUMMARY Won't somebody please think of the children?! Well, if you're thinking about saving for your kids' education, this is the podcast for you. Steven Guenther and I walk through the basics and the not-so-basics when it comes to RESPs. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE What an RESP is and why they exist Government incentives via grants and bonds Incentives for lower-income families Types of RESP plans Rules for RESP withdrawals What if the kids don’t go to university? Options for this scenario RESOURCES MENTIONED Government of Canada - RESPs OTHER EPISODES 4. Student Loans, Lines of Credit and How to Get Through Postgrad Debt Free 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
Wed, March 17, 2021
Mortgage Masterclass with Bud Jorgenson
EPISODE SUMMARY This week we cover all things mortgages with Bud Jorgenson of The Mortgage Group. Bud provides lots of great nuggets of wisdom as an expert on this topic! ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE How to qualify for a mortgage Types of mortgages available CMHC insurance Tips for deciding on a down payment amount…and whether 20% down always makes sense RESOURCES MENTIONED The Mortgage Group OTHER EPISODES 3. Buying a Car 12. Buying a House with 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
Wed, March 03, 2021
How to file your taxes in 2021 featuring Luke Hergott CPA
EPISODE SUMMARY My guest this week is Luke Hergott, a Chartered Professional Accountant (CPA) at EY. Luke walks us through the steps you need to take to make sure you're prepared to file your taxes for the 2020 tax year. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Personal tax filing deadlines Housekeeping items to be ready to file your taxes How income tax works in Canada Practical tips for filing your taxes RESOURCES MENTIONED Certified tax software options CRA My Account COVID-19 Benefits and Taxes OTHER EPISODES 7. Tax Basics and “The Next Bracket” Myth 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
Tue, February 16, 2021
Is an RRSP the best choice for your retirement savings?
EPISODE SUMMARY In this episode, Evan covers some of the myths and misconceptions about how RRSPs really work and how they might not be the best option for most people. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Brief overview of how RRSPs work Myths about RRSP usage Ways to use an RRSP to your advantage RESOURCES MENTIONED Government of Canada - RRSP Information EY Tax Calculators & Rates OTHER EPISODES 25. Reduce Taxes with a Spousal RRSP 29. RRSP, LIRA, TFSA…Where do you Withdraw From First? 38. The Perfect RRSP Strategy 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
Wed, February 03, 2021
Buying a House featuring Kindra Sowden
EPISODE SUMMARY If you're looking for some tips on the home buying process, this episode is for you! Kindra Sowden is one of Saskatoon's top Realtors and she gives some great advice when it comes to making one of the biggest purchases of your life. No pressure…. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE All things buying a house Reasons you might want to use a realtor Assembling your home purchase dream team Step-by-step process of a home purchase Ways to make sure you make a good decision on one of the biggest purchases of your life RESOURCES MENTIONED Kindra Sowden - Website OTHER EPISODES 6. Insuring Your Most Valuable Asset 9. Do I Really Need a Will? An Interview with Elizabeth Williamson 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
Wed, January 20, 2021
Money & Marriage - From The Sask Wedding Podcast w/ Matt Ramage
EPISODE SUMMARY On this week's episode, I'm actually the guest! This is an episode I recorded with Matt Ramage from the Sask Wedding Podcast where we discuss money conversations you should be having with your partner before your wedding and then as you build your lives together. Matt is a wedding and lifestyle photographer based out of Saskatoon. You can find him on instagram or on his website . ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE How to manage money while planning a wedding Things to consider when shifting from handling your own money to handling money in a relationship Planning for expenses during marriage and life after the wedding RESOURCES MENTIONED Sask Wedding Podcast Matt Ramage (mj&co.) - Instagram Matt Ramage (mj&co.) - Website OTHER EPISODES 5. Budgeting for People Who Hate Budgeting 9. Do I Really Need a Will? An Interview with Elizabeth Williamson 12. Buying a House Featuring Kindra Sowden 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
Wed, January 06, 2021
Using a TFSA like a pro
EPISODE SUMMARY We’re back with Season 2 of The Canadian Money Roadmap Podcast! This episode focuses on TFSAs and will set you up to use them like a pro. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE 1. TFSAs are best used for building long term wealth. Short term savings are best saved in a non-TFSA Savings account. 2. You can (and should!) invest for growth within a TFSA. Here's a link to the BMO study showing nearly half of Canadians thought they could only have cash in a TFSA 3. Building long term wealth starts and ends with a TFSA. Focus on maximizing your TFSA first and spend the TFSA money last in retirement 4. By building the bulk of your savings in a TFSA, you'll be able to keep your future taxable income low as well. This can have a significant impact on making sure you receive your full Old Age Security payments and potentially spend less money on other government subsidized costs like long term care that are indexed to your taxable income. RESOURCES MENTIONED BMO study regarding how Canadian’s use their TFSA TFSA guide from the Government of Canada OTHER EPISODES 24. TFSAs are Great but Watch Out…. 29. RRSP, LIRA, TFSA…Where do you Withdraw from First? 36. 5 Steps to Set Up Your TFSA for 2022 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
Wed, November 04, 2020
Your Financial Foundations - Season 1 Recap
Thanks so much for listening to Season 1 of the Canadian Money Roadmap Podcast! I've had a lot of fun and I've received lots of great feedback about this season's topics so I'm excited to prep for season 2 and get that out as soon as I can. This episode is a quick summary of the first season which focuses on your financial foundations. Feel free to reach out to me at evan@ennsbaxter.com! Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
Wed, October 21, 2020
Do I really need a will? An interview with Elizabeth Williamson
EPISODE SUMMARY In this episode, I'm joined by Elizabeth Williamson of Williamson Law in Saskatoon, SK. She provides some advice and education on the basics of wills, whether or not you should have one (hint: you do!) and some risks involved with doing an online will. **This episode features discussion and advice most relevant to residents of Saskatchewan. Always consult with a legal professional in your home province when developing your own will and estate plan.** ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Interview with Elizabeth Williamson of Williamson Law in Saskatoon, SK The basics of a will Tips to properly set up your estate Basics of a Power of Attorney and Healthcare Directive RESOURCES MENTIONED Williamson Law website and contact OTHER EPISODES 6. Insuring your most Valuable Asset 46. Maximize the Tax Benefits of your Charitable Giving 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
Wed, October 07, 2020
Starting a Business: Interview with Alisha Esmail of Road Coffee Co.
EPISODE SUMMARY Today Evan interviews Alisha Esmail, the founder of Road Coffee Co. Road is a coffee roaster based out of Saskatoon with a goal and story that goes well beyond a simple cup of coffee. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Interview with Alisha Esmail, founder of Road Coffee Co. Finding funding to start a business Deciding whether to take a salary as the owner Pivoting during Covid-19 to remain profitable RESOURCES MENTIONED Road Coffee Co. Road Coffee - Origin Story and Beyond Fair Program Government of Canada - Business Grants and Financing OTHER EPISODES 11. Money & Marriage - From the Sask Wedding Podcast w/ Matt Ramage 12. Buying a House Featuring Kindra Sowden 15. Mortgage Masterclass with Bud Jorgenson 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
Wed, September 23, 2020
Tax Basics and "The Next Bracket" Myth
EPISODE SUMMARY Evan guides you through the basics of Canadian tax and helps you understand how income tax works in our country. Evan also touches on the “next bracket myth” and helps clarify some common misunderstandings. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Tax basics Explaining a progressive tax system Understanding average vs. marginal tax rate The Next Bracket Myth RESOURCES MENTIONED EY Tax Calculator and Rates Government of Canada - Understanding Your Pay Stub OTHER EPISODES 14. How to File Your Taxes in 2021 Featuring Luke Hergott, CPA 25. Reduce Taxes with a Spousal RRSP 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
Wed, September 09, 2020
Insuring Your Most Valuable Asset
EPISODE SUMMARY This episode covers a basic overview of life, critical illness, and disability insurance so you can protect your most valuable asset. You! ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE 1. Life Insurance: Pays tax free benefit upon death. Term vs Permanent. Aim for total coverage of Debt + 7x Income 2. Critical Illness: Pays tax free benefit upon diagnosis of a covered condition. 3. Disability: Pays benefit based on your inability to earn employment income. If you have benefits at work, you might already have sufficient disability coverage but double check the variables so you know what you have. 4. Creditor Insurance: Typically more expensive and less comprehensive than a personally owned policy but can be a good option if your health prevents you from getting a policy on your own. OTHER EPISODES 12. Buying a House Featuring Kindra Sowden 15. Mortgage Masterclass with Bud Jorgenson 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
Wed, August 26, 2020
Budgeting for people who hate budgeting
EPISODE SUMMARY If you're listening to this episode, chances are that you're not a budgeter. I'm not a budgeter either! You need to know where your money is going but an automated system is going to be your best friend. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE 1. If you've ever said "Ugh, I finally need to set up a budget", a strict budget might not actually be your best option. And that's okay! People's brains are wired differently but you just need to find a system that works best for you. 2. If you are looking for budgeting software, I'd start with Mint or You Need A Budget . 3. When building your budget, aim for the 50-30-20 rule for the categories of Needs, Wants and Savings/Debt repayment. 4. **If you don't want to set up a strict budget, start by automating your good habits **. If you think you need a budget, chances are that your money isn't going where you want it to every month. By automating your good habits of paying your bills on time, repaying your debt and contributing to your long term savings, you can guarantee that you'll start every month on the right foot. The more things you can automate, the fewer speed bumps you're going to hit every month. RESOURCES MENTIONED Mint You Need a Budget OTHER EPISODES 42. Start planning for your next vacation 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
Bonus · Fri, August 21, 2020
Thank You!
Thanks so much for all of you who have listened to the podcast so far! Looking forward to many more episodes
Wed, August 12, 2020
Student Loans, Lines of Credit and How to Get Through Postgrad Debt Free
EPISODE SUMMARY Evan discusses student loans and student lines of credit before interviewing PhD candidate, Sam Derksen. Sam and Evan chat about how to get through your post grad studies without any debt. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE This week's episode looks at getting through post secondary school: 1. Student loans - Know your status as a dependent or independent and know the income reporting requires before you apply to limit the surprises of a smaller loan than you had anticipated. 2. Student lines of credit - Available through a bank, a line of credit is more flexible but you might run the risk of overspending as a result 3. Interview with PhD candidate, Sam Derksen - How to get through your post grad studies without any debt OTHER EPISODES 16. Registered Education Savings Plans featuring Steven Guenther, CFP 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
Wed, July 29, 2020
Buying a Car
EPISODE SUMMARY Today's episode focuses on buying a vehicle. Buying a car is one of the first major purchases that a person will make but you're also likely to own over 10 vehicles over the course of your life. Buying a vehicle the wrong way can get you into lots of financial trouble so this episode should give you some tips to stay on track with a vehicle you'll be happy with for a long time. **Note** this isn't a podcast of how to negotiate the best price or which vehicle to buy. I wanted to provide some realistic education on what the process of buying a vehicle is like so you can make the best choice for your unique situation. Quick tips: 1. Buying a used car with cash is likely the cheapest way to own a vehicle. Certified pre-owned is a nice sweet spot that offers warranty, low kms, a dealer inspection and someone else has paid most of the depreciation already. 2. Leasing is the most expensive way to "own" a vehicle over time even though the monthly payments are lower. Generally only a good option if you use the vehicle to travel for work can expense the payment. 3. Financing is the most common method of buying but try to stick to the 20/4/10 rule to keep your interest low and payments on budget. 20% down, 4 year term, payment is less than 10% of your monthly take-home income. 4. Do your homework before going to the dealership : know the model and trim level you're interested in, know the MSRP and what you're willing to negotiate on, know your budget and don't deviate from it. 5. Avoid the "extras" like undercoating, extra warranty, life insurance on the loan (own your own insurance policy instead!) ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST OTHER EPISODES 43. Should you Rent or Buy a Home 12. Buying a House featuring Kindra Sowden 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
Wed, July 15, 2020
Credit Cards - Pros, Cons and Strategies
EPISODE SUMMARY In this episode, Evan is joined by his colleague and Certified Financial Planner Steven Guenther. This episode covers a lot of ground on credit cards, pros and cons of using them, and how to get rid of your credit card debt. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Credit card explanation Pros of using credit cards Cons of using credit cards Ways to eliminate credit card debt RESOURCES MENTIONED Making a Plan to be Debt Free - Financial Consumer Agency of Canada OTHER EPISODES 4. Student Loans, Lines of Credit and How to Get Through Postgrad Debt Free 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
Wed, July 01, 2020
Should you have an emergency fund?
EPISODE SUMMARY In this episode, Evan leads you through whether you need an emergency fund and provides his perspective on the emergency fund amount and possible downsides to consider. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLIST TOPICS IN THIS EPISODE Should you have an emergency fund? If so, how much should you save? Are there any downsides to having an emergency fund? RESOURCES MENTIONED Dave Ramsey’s 7 Baby Steps OTHER EPISODES 32. Do you need an emergency fund in retirement? 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
Trailer · Fri, June 26, 2020
Trailer
Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
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