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Invest smarter, master your money, live & give more
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Build your Retirement Plan With Evan 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
Get your Retirement Readiness Score 🇨🇦 Build your Retirement Plan With Evan
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 Read...
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 ch...
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 hi...
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 t...
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 Retire...
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 ...
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, the...
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 givi...
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 I...
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...
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
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 in...
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, emp...
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 go...
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 stro...
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 i...
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 financi...
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 fascinati...
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 hi...
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 y...
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 ...
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 C...
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
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 episod...
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 ...
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 knowle...
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...
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...
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
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
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
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
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
**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 ...
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
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
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...
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
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 🇨...
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
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
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
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
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
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
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.....
You might not want to hear it... but here are 7 inconvenient truths about investing: Low fees won't solve all your financial problemsAny long term investment worth owning will go down at some pointIf you're properly diversified, some part of your portfolio will always be underperformingSomeone you know will always have a better performing portfolio than youIf you're reacting to the news with your portfolio, you're already too late. And you can't know in advance what the impact o...
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 a...
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