The Canadian Money Roadmap

In this week's episode we walk through the two phases of your RRSP: accumulation (RRSP) and spending (RRIF). Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

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.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

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.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

**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.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

In this episode I will discuss the ideas of "safe" investments and how risk can be viewed differently depending on your perspective.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

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®Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

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.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

 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! Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

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.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

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.Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet