The Canadian Money Roadmap

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

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

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

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

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 2024Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

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 2024Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet