Unconventional Wisdom

Recently, I posted a video "New Study Supports 100% Equity Investing for Life" that went semi-viral with 14,000 YouTube views & 1,000 podcast downloads.  There is an interesting active debate mainly on YouTube, and a bit on my blog with a lot of comments and questions. Let's look at them and join the debate. The evidence from the study to invest 100% in equities for life is certainly unconventiona...

Why do so many Canadians struggle to achieve financial freedom, even with a solid financial plan?  Why do they retire with less than they hoped for, despite diligently saving and investing?  The answer often boils down to two things: suboptimal investments and a misguided focus on risk. In my latest podcast episode, we'll uncover why good investment performance is essential for your financial succ...

With its quirky name, the Smith Manoeuvre might sound unconventional, but it's a strategy that truly works—when done by the right people, in the right way, over the long term. From crafting over 1,000 professional Financial Plans, I've seen firsthand how the Smith Manoeuvre can transform your finances, helping Canadians use their home equity to invest for their future without impacting their cash...

For years, conventional wisdom has preached the benefits of diversifying between stocks & bonds and gradually shifting to safer investments as we age.  But what if these widely accepted strategies are fundamentally flawed?  A newly published, high-quality study is flipping the script on traditional investment advice, making a compelling case for a 100% equity strategy throughout life. This researc...

I talk with people all the time who have an ETF or mutual fund that pays a fixed monthly amount. In most cases, they misunderstand it. Most think they are receiving regular income—but chances are, it's usually a brain fart. Many investors misunderstand how these monthly pay investments work.  From covered call ETFs and dividend funds to monthly income funds, mortgage funds, T8/T6 mutual funds, and...

Ever wondered how you can get the money out of your RRSP with a minimum of tax? RRSP/RRIF Meltdown Strategies can allow you to withdraw from your RRSP or RRIF and have very little income show on your tax return. However, there are some tricky complications, and these strategies are not for everyone. In my latest podcast episode you'll learn: How does the RRSP/RRIF meltdown strategy help you withdr...

In a recent podcast episode, I talked about who the poor & wealthy are and how did they get there.  Today, I'm diving deeper into one crucial aspect: how the wealthy became wealthy.  Can their strategies work for you? Over the years, I've seen the full financial picture of thousands of Canadians and read countless studies on wealth building.  While my clients are generally higher-income, growth-fo...

I often get asked about Lifecycle Investing and how to implement it.  If you're under 40 and saving to achieve financial independence, this might be the most powerful strategy you'll ever learn. Lifecycle Investing has proven itself consistently over the last 150 years, increasing portfolios at retirement by an average of 63%.  It has worked 100% of the time, and its success lies in addressing one...

As a financial planner, I've had a unique view into the full financial picture of thousands of Canadians and have read countless studies.  My experience spans clients of varying financial backgrounds, as well as countless conversations with readers of my blog, friends, and acquaintances.  Although our clients may not represent the entire population—they tend to have higher incomes, are growth-focu...

The online Canadian Financial Summit is coming up the week of October 25-27. It's the #1 personal finance event of the year. As a reader of the Unconventional Wisdom blog, here are your FREE passes for a limited time. With these FREE passes, you can watch all the talks for 48 hours. I'll be one of the speakers again this year with three talks (see below), and I'll be joined by over 35 other Canadi...

Tax brackets for parents and seniors are way different than you think.  This might be a real eye opener for some people because I think a lot of people that do some basic tax planning are doing it all wrong. In my latest podcast episode I'm going to give you a tax planning made easy using tax brackets.  I'm going to show you how, some basics of tax brackets, and briefly how tax planning is done, s...

When planning for retirement, many Canadians rely on a government pension like OMERS (Ontario Municipal Employees Retirement System) as their foundation.  Do you need savings in addition to your government pension to maintain the lifestyle you want? A buddy called me from his car and said, "I'm driving. Will I get to my destination on time?" I asked, "Where are you going and where are you now?" It...

In the vast landscape of personal finance, dividend investing has carved out a significant niche.  Whether you're browsing through countless blogs or hearing investment advisors champion its benefits, it's clear that dividend investing is a popular choice, especially with the FIRE (Financial Independence, Retire Early) community. However, a closer look reveals that almost all the advantages claime...

The Smith Manoeuvre is an efficient strategy to use your home equity to invest for your future without using your cash flow, while converting your mortgage into a tax-deductible debt.  If you do the Smith Manoeuvre, understanding the new OSFI mortgage rules is crucial. In this podcast episode with Barry Choi, I break down what the changes mean and how they impact your strategy. You'll learn: What...

With the Canadian Financial Summit coming up at the end of October, I wanted to share over the next few weeks content that Summit attendees had access to last year. When you register you get access to talks like these, plus a myriad of other speakers who are some of Canada's top financial experts.  I'll be promoting the Summit and giving away free tickets too! // When it comes to retirement, it's...

Most people struggle with money.  It might feel like you're the only one who doesn't have it all figured out, but trust me, you're not alone.  Over the last two months, I've had countless conversations with individuals just like you who are grappling with various financial concerns.  In my latest podcast episode, I share 25 common worries and questions that I have been asked just in the last coupl...

Here are three key insights that I believe are essential for navigating the rest of the year and beyond.  These insights are grounded in the principles that have guided our successful financial planning and investment strategies. The three key areas: Some timeless truths that guide our financial planning, a few observations on the markets so far this year, and an update on what we're doing in our...

Many people are saving for their kids' future education costs in an RESP. For some parents, it is a higher priority and they want to be able to maximize the benefits of an RESP - not just contribute the standard $2,500/year for each child. In my latest podcast episode I talk about the five hacks to maximize your child's RESP. You'll learn: How much might a 4-year degree cost in 18 years? Is it goo...

The Smith Manoeuvre has long been a popular strategy for Canadian homeowners seeking to convert their mortgage debt into tax-deductible investment debt.  However, recent tax and regulatory changes have impacted the efficacy of the Smith Manoeuvre, and further changes from the Liberal government could pose additional challenges. In my latest video I give an analysis of the current landscape and pot...

Have you ever wondered how long you might live?  Understanding life expectancy is crucial for planning a secure and fulfilling future.  In my latest podcast episode I explore the dramatic changes in life expectancy over the past century, why it's expected to continue increasing, and how this impacts your retirement planning.  You'll learn: Has life expectancy actually doubled since 1900? How fast...

Deciding between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP) can be one of the most challenging financial decisions you'll face.  Each has its benefits, and the right choice depends on your unique financial situation.  In this post, I'll guide you through understanding the factors that determine whether a TFSA or RRSP is better for you and how a financial plan...

How long should you expect to be retired? You want your money to last the rest of your life. How long will you live? What quality of life will you have? What will your lifestyle cost you when you are older? What if you could: Live longer (long lifespan). Be healthy longer (long healthspan). Have financial freedom longer (long wealthspan). In my latest podcast episode I talk about: Why it's smart t...

I recently worked with Kornel Szrejber, host of Canada's #1 financial podcast "Build Wealth Canada", on his family's financial plan, so he could feel confident about his retirement. Kornel retired in his 30s, but he was starting to feel anxious because he wanted to make sure he wasn't overspending. This podcast interview is a Q&A between the two of us where we talk about Kornel's situation, as wel...

You know the basics about the Smith Manoeuvre.  It's one of the most effective wealth building strategies if done by the right people in the right way over the long term. My latest podcast episode can be found on Sean Cooper's "Burn YourMortgage" podcast on YouTube and his website www. BurnYourMortgage.ca, and you can listen here too. You'll learn: Why should you consider the Smith Manoeuvre ? How...

You may have heard that we just had a new budget here in Canada, and increased the taxes on capital gains.  Canadians with a rental property, cottage or investments and their tax advisors are scrambling to figure out what to do before the deadline of June 25, 2024. Here are the questions we'll cover in this latest podcast episode: What is the new higher capital gains tax? Who is affected? Why is i...