Unconventional Wisdom

5 Steps for You to Become Wealthy One of the really cool things about my job is that I get to meet a lot of wealthy people. I get to see what kind of people they are and what their life is like. What I find really rewarding though is to take people whose lives are struggling or just regular income earners and put them on a path to become wealthy. In my latest podcast episode I'm going to answer th...

Is your mortgage tax-deductible? The Smith Manoeuvre is an elegant strategy to invest for your retirement without using your cash flow. You borrow against your home to invest for your retirement. It converts your mortgage over time into a tax deductible credit line. The Smith Manoeuvre is very effective as part of your retirement plan. It typically doubles your retirement portfolio. To do it the r...

You have probably seen many articles Tax-Free Savings Account (TFSA) vs. Registered Retirement Savings Plan (RRSP). Here is the real answer specifically for you from a tax expert. Deciding on the right one is an important part of your financial plan. Your personal Financial Plan should include the income per year you will need after you retire to have the retirement lifestyle you want - and the am...

Dividend investing is a brain fart! The entire concept is your brain playing tricks on you. I know that thousands of people like dividend investing. In fact there are hundreds of blogs dedicated to it. Dividend investing may sound like a solid and steady way to invest. But it's a brain fart! In my latest podcast episode you'll learn: Why is dividend investing a brain fart? Why a dividend = selling...

What's important about money to you? Understanding how you feel about money is the first step in an effective financial plan to create the life you want. Money impacts so many aspects of your life. How you handle it, save it, and spend it can say a lot about you. There are some common themes in how people feel about money, and what it means to them in both their everyday life and in regards to the...

As we look forward to the holidays and 2024, one thing I know for sure is: "The World is Getting Better All the Time". Every generation of young people thinks the world is getting worse, but the world is dramatically better in every important way than 100 years ago. For example, 170,000 people are lifted out of extreme poverty every day for the last couple decades.  On average globally, humans hav...

You probably think credit card interest is pretty high. It can be far higher than you think! If you or your kids ever do not pay your credit card balances in full by the due date, this is the video to watch. Credit card debt is the single most common place where Canadians get stuck, which can create havoc with your finances (and future). In my latest podcast episode you'll learn: What is the small...

Can You Be Confident in the Stock Market? There are two schools of thought on this question. The stock market is a decent investment, but it's a gamble that may or may not make money for you. The stock market is a reliable long term investment that should be the core of your future financial planning. Most investors are scared of suffering a major loss, so they invest conservatively for lower risk...

You should open up an FHSA Account this year! This is for you if you don't own a home now or in the last four years and are age 18 - 71. You get contribution room starting the year you open your FHSA, but if you wait until next year you lose that room. The deadline is December 31. An FHSA Account is the # 1 way to save for a home down payment if you buy within the next 15 years. You get a tax dedu...

Financial freedom. It's what we all really want. The question is: how do we get there? One key component to achieving financial freedom is creating a retirement plan. Building the nest egg you need doesn't happen on its own. Most people only save enough to get 20-30% of the investments they need for the retirement lifestyle they envision. Creating your retirement plan can be fun. It makes you weal...

How much do you need to be financially independent? That is just one of the many questions posed by Kornel Szrejber of Build Wealth Canada. He recently interviewed me for his podcast, where I go into depth about financial planning practices I use with my clients, as well as complex tax questions. Listen to the podcast episode to learn: How much you need to be financially independent and retiring w...

Invest a Lump Sum or Bit-by-Bit. Which Is Smarter? You have a lump sum of cash and you're trying to figure out how to invest it. The stock market seems pretty turbulent at the moment, so you may be wondering if you should invest your lump sum all at once or bit-by-bit.  Maybe you got a big bonus, a lump sum from Smith Manoeuvre, or a large amount of money to invest. What to do? In my latest podcas...

I've talked with thousands of Canadians that will not have the life they want because their advisor gave them bad advice. Why do they stick with their advisor? I've heard it over and over again. They say: "because he's a nice guy". The advice here is, you need a competent advisor & real advice, not a nice advisor. A competent advisor might be really great to work with too, but this is the type of...

How can you get above index returns? Index funds and ETFs deliver below index returns. With global equities, their returns are typically 0.5 or 1% below the index. So how can you beat the index? In my latest podcast episode I offer two paths to achieving above index returns. You'll also learn about: How to identify All Star Fund Managers who beat the index based on skill. How most people pick fund...

Optimism is the Only Realism. You'll learn why in my latest podcast episode. I feel compelled to talk about optimism for two reasons: 1/ Optimism is absolutely necessary for financial success – effective investing and financial planning. You need to feel you will be better off in the future you are building and you need to be confident in your investments long-term. 2/ Many young people are pessim...

Can you fund your retirement from your corporation? That's the question I answer in my latest podcast episode specifically for business owners, where I go in-depth into tax planning & efficient investment strategies when owning a corporation. It may seem complicated (if you're talking to your accountant), but this podcast episode breaks down basic and advanced principles, to make it easy for you t...

Many people who work with us to figure out their retirement plan, have created a financial plan before. You can get a financial plan from a bank, online methods, financial advisor or fee-only financial planner, but often these financial plans fail. They do not give you the life you want. In my latest podcast episode, I outline what is wrong with most financial plans, how we create retirement plans...

You want to retire soon. What is the best way to set up your retirement income to give you the maximum income that will reliably last the rest of your life? Many financial planners have come up with 5 rules of thumb when it comes to retiring. They appear to be common sense and are usually accepted without question. However, are they really good advice? In my latest podcast episode, you'll find out...

The Canadian Financial Summit is the #1 personal finance event of the year. And we're only one week away! Once again I'll be one of the speakers this year with three talks, and I'll be joined by over 35 other Canadian personal finance and investing experts such as Rob Carrick from the Globe and Mail, Ellen Roseman former Toronto Star columnist, and Jonathan Chevreau from MoneySense & Financial Ind...

Right now everyone is talking about the economy… Interest rate hikes. High inflation. Out-of-control government spending. Decline in global trade. Possible looming recession. So what do you do if you have money in the stock market? In my latest podcast episode, you'll learn why the economy is not relevant to investing, and how it might be the best time to invest in stocks. Listen to find out: The...

Financial Planning is not about the money itself. It is about what the money will do in your life.  A plan is not a bunch of numbers – it is about your life.  Our clients find that our planning meetings are actually fun. For example, we ask clients: "What's important about money to you?" The #1 & #2 answers we get are security and freedom. They want to know there will always be enough income for t...

In my latest podcast episode, I give you insight into what I advise my clients and why I declare the death of bonds as an investment. It's time for most investors to stop investing in bonds. Including balanced funds. Here are just some of the topics I cover: Recommended investment strategies for high-yield returns. Why you can't retire comfortably with a balanced portfolio. The attitude of success...

Dividend investors, would you like to make higher returns, pay less tax & simplify your life? Would you like to receive dividends of any amount you want from your non-registered investments, and pay less tax than on ordinary dividends?  You can easily do this with a little planning and proper understanding of investments. Self-made dividends are a simple concept with profound benefits.  Dividend i...

While I love living in the Toronto-area - it's a great and vibrant place to spend time, I choose not to invest in Canada. You may not realize that Canada has only 3% of the world's stocks, with mainly small companies with lower growth than global or US stocks. Canada is no longer a growth country. This means that you aren't getting a diversified portfolio, so we choose to invest globally or in the...

Do you ever find yourself unsure about what to do with an investment decision? Should you buy now or wait? Is this a good time? Should I buy something safe or invest for growth? You are not alone. Most people struggle with investment decisions because they think short term and do not have faith in the market. This leads them to make the single most common investing error — investing conservatively...