The Canadian Money Roadmap

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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect With Evan

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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect With Evan

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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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-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 topicStart the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect With Evan

In this week's episode we walk through the two phases of your RRSP: accumulation (RRSP) and spending (RRIF). Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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 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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect With Evan

In this episode I will discuss the ideas of "safe" investments and how risk can be viewed differently depending on your perspective.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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®Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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 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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect With Evan

 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! Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect With Evan

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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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 2024Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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 2024Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect 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...?Do more if you want! But start here to end the year on a note of transparency, clarity and openness.Start the Find Your Focus Quiz to learn where you should be focusing your time and effort with your money.--TAX CHANGES: Budget 2024XEQT vs VEQT. Which ETF is better?Connect With Evan