The Canadian Money Roadmap

In this iteration of listener Q&A,  we'll kick things off by discussing the concept of selling winners and buying losers, and why maintaining a target allocation is crucial to avoid overexposure to a single risk. We also explore the unpredictability of country performance and the importance of diversification when building a portfolio of stocks.Dive deeper into the benefits and risks of holding individual stocks within a Tax-Free Savings Account (TFSA). We reveal why it's best to have these stocks in a non-registered account and address the complexity of transferring investments between account types. As we unravel the confusion surrounding capital gains tax, you'll gain a greater understanding of how the Canada Revenue Agency (CRA) taxes capital gains, how capital losses can offset future gains, and even how donating these assets can become a valuable tax planning strategy.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

In this episode, I reviewed the Netflix series "How to Get Rich" and shared my thoughts on the show's advice and effectiveness; a few things I liked and a few things I didn't like. I discussed the importance of communication and setting expectations with a partner when it comes to finances, as well as the concept of a conscious spending plan. Additionally, I critiqued the show's clickbaity title and cookie-cutter advice, and highlighted the importance of executing on details and automating good financial habits. Overall, I suggest that the show may be worth a watch for the relationship side of money and personal finance content, but it definitely won't teach viewers how to get richWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

Diversification, participation and automation are the keys to getting your first $100,000 invested.  It's the hardest milestone to reach but the most important one for building your long term wealth.  Whether it's for retirement or financial independence or generosity, the sooner you can get to your first $100,000 the easier the rest of it becomes.Download the Roadmap to $100,000 spreadsheet hereWant a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

In this episode, we cover a range of topics sourced from some of the top posts on Reddit over the last month. We cover some of the considerations needed when you have a $1 million RRSP, the potential risks and benefits of leveraging an RRSP loan, and what to expect from RRIF minimums. We also discuss how to manage tax payments to the CRA, including ways to avoid interest charges and establish a payment plan. Finally, we explore the pros and cons of shopping at Costco as a way to save money.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

To be a successful investor, you need to have a process for making investment decisions.  To be more specific, you need to have a good process. In this episode, I talk about some of the things you need to consider to make sure you have a good investment process that can be repeated over and over again.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

The legal side of money is one most people don't spend much time on but it can have a massive impact on your loved ones.  Lauren Scharfstein is an estate lawyer at Scharfstein LLP here in Saskatoon and she walks us through how we can be proactive with estate planning (yes, even us "young" people)  so we can feel empowered and confident with our money.  You can connect with Lauren by email at lscharfstein@scharfsteinlaw.com.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

Hot off the presses, the First Home Savings Account is a new account type that will help Canadians build a tax free down payment on their first home.  However, it is much more valuable than that and Aaron Hector walks us through all of the details and how to maximize the value of this new account.Follow Aaron Hector on Twitter to keep up with more of his expert insight on finances for Canadians.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

A roundup of some recent news items including the federal budget, oil price increases, minimum wage increases and a lawsuit against YouTubers promoting FTX.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

An honest discussion of some things I've done that are "dumb" on paper but made sense for my own situation.  Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet

Andrea Hansen is the president of Sutton Benefits and Pension and is an expert in all aspects of workplace benefits plans.  She joins me on this episode to help us all understand what to be looking for if you're considering a new job or what questions to ask to better understand your benefits at your current employer.If you are a business owner in SK or AB and would like to get in touch with Andrea regarding your total rewards, please reach out to her by email at ahansen@suttonplanning.ca or connect with her on LinkedIn.Want a personalized retirement plan? Retirement Readiness Scorecard 🇨🇦 Get your money organized - Your Full Financial Picture Spreadsheet