The Canadian Money Roadmap

Send Evan a Text MessageIn 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageGain 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageOn 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--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageCould 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageThis 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageThe 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageThis 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-millionaire3. 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--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageIn this week's episode we walk through the two phases of your RRSP: accumulation (RRSP) and spending (RRIF). --55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageIf 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageThis 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text Message**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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageIn this episode I will discuss the ideas of "safe" investments and how risk can be viewed differently depending on your perspective.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageIn 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®--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageUnlock 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text Message 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! --55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageToday, 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageWelcome 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageHave 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageI 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan

Send Evan a Text MessageIn 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.--55 Year old couple wants to retire with $500,000XEQT vs VEQT. Which ETF is better?How to stress test your retirement plan (For Free)Connect With Evan