The Canadian Money Roadmap

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 investment accounts to ensuring your insurance details are in order. Join me and take the first step toward a well-organized financial future.Download The Full Financial Picture SpreadsheetWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

Watch this episode on YouTubeIn 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 financial burden of your child’s education or a student preparing for the future, this conversation is packed with actionable advice. Tune in to learn how proactive planning and smart financial decisions can make higher education affordable and attainable. Don't miss this opportunity to hear from an expert who's helped thousands of students successfully graduate debt-free. Enjoy the discussion!Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

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 fascinating discussions on becoming a better investor and managing risk. Tune in to learn from Dr. Crosby’s expertise and discover practical strategies to enhance your financial well-being. Don’t miss this chance to hear from one of the best in the field. Enjoy your summer and I'll see you with new episodes in September!Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

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 his business practices and his plans for the podcast and his YouTube channel over the summer.Email Evan at hello@evanneufeld.com00:00 Introduction and Listener Feedback01:56 Taking a Summer Break03:42 Early Aspirations and Education06:48 Entering the Financial Planning Industry09:20 Joining Enns and Baxter Wealth Management09:42 Understanding Independent Firms15:41 Building the Business and CFP Designation20:33 Transitioning Clients and COVID Challenges22:43 Starting the Podcast25:41 Future Plans and ConclusionWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

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 you categorize and estimate your spending, ensuring you have a clear roadmap to a secure retirement.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

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 with a financial advisor. 00:00 Welcome to the Canadian Money Roadmap Podcast01:49 Capital Gains: Understanding Taxes on Property Sales05:12 Decoding CPP Taxes: Monthly or Yearly?06:47 Investing After a Settlement: Short-Term vs. Long-Term Strategies11:17 Setting Up Custodial Investment Accounts for Kids(Expert Advice on Selecting the Best Financial Planner for Your Needs)15:12 Navigating Pension Options: To Move or Not to Move19:55 Maximizing RESP Contributions Without Government Grants21:49 Exploring a Career in Financial Planning22:55 Looking Ahead: Retirement Planning EpisodesWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

Can You Retire at 55 in Canada with $500,000? Watch this episode on YouTubeIn 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 Carlo analysis, Evan evaluates the couple's retirement projections, highlights shortfalls, and suggests changes to create a successful retirement plan. Key recommendations include retiring closer to age 65, saving more in Tax-Free Savings Accounts (TFSAs), and deferring CPP benefits to secure guaranteed, inflation-protected income later in life.00:00 Welcome to the Special Tuesday Edition!00:55 Retiring in Canada with $500,000: Is It Enough?01:51 Exploring Retirement Planning Software Insights02:58 Adjusting Retirement Strategies for Success03:50 The Impact of Deferring Retirement and CPP Benefits08:58 Stress Testing the Retirement Plan with Monte Carlo Analysis10:34 Final Recommendations and Summary13:06 Closing Thoughts and Podcast Sign-offWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

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. Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

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 episode, I try to answer the first question I received about CPP timing for single people.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

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 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.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet