beyond MD with Dr. Yatin Chadha

Today I'm thrilled to host Dr. Neel Chadha. Neel is a family physician who made the bold decision to go all in on developing retirement residences for seniors.This is a story of embracing new opportunities, taking calculated risks, & pursuing a focused life to find success.Discussion Points:Introduction (1:35)From family medicine & geriatrics to developing senior homes (5:15)Neel's decision to leave the hospital & go all in on senior living (6:55)Neel's retirement residence community (9:35)Senior living in Canada - status quo, supply/demand (12:00)Investing in senior living - key metrics to track (16:25)Navigating interest rates & other challenges in 2023 - key takeaways (18:42)Why a focused life is critical for success (23:30)The importance of mentorship (26:05)What Neel wants to be known for (30:25)Closing remarks (31:10)This episode features Arya EHR - https://www.aryaehr.com/**I endorse only products/services I personally use or would use. Any income generated offsets the costs of running this podcast :)Neel:https://lanarklifestyles.ca/https://www.linkedin.com/in/dr-neel-chadha-44829013b/Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaWays to support beyond MD:Amex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCPhttps://americanexpress.com/en-ca/referral/cobalt?ref=yATINCYEoc&XLINK=MYCP

The idea for today's pod was born after a riveting conversation on a flight to Florida. I'm happy to host Matthew Lee & Ming Lim from Volition Properties to learn how they've built wealth through investing in multifamily properties in the Toronto core.Discussion Points:- Introductions - worth it, I promise (1:30)- Introduction to Volition (8:15)- The investment thesis for multifamily in Toronto (10:35)- Investment locations (19:50)- Why tenants are so critical to the business model (23:45)- Are there opportunities currently in Toronto? (25:30)- What about areas outside the city core primed for more gentrification? (29:55)- How do you turn properties into meaningful cash flow later? (33:30)- The numbers behind a recent deal (44:55)- How many properties does one need to exercise this strategy? (48:10)- Price per square foot, the reason for 2-3 bedroom suites (51:00)- 101 on laneway suites & the status quo in Toronto (53:20)- Parting words (1:01:15)Volition Properties:FREE Monthly investor meetup:https://www.meetup.com/Volition/Detailed info on the condominiumization meetup Oct 29th, 2024https://www.meetup.com/volition/events/302351457/?eventOrigin=group_events_listContact info: info@volitionprop.com www.volitionprop.com 1-877-416-BRRRwww.facebook.com/VolitionPropwww.instagram.com/volitionpropertieswww.ca.linkedin.com/company/volitionpropwww.youtube.com/@VolitionPropertiesPhysician Financial Wellness Conference:https://www.physiciansficonference.com/Yatin Chadha:Email: beyondmdpodcast@gmail.comLinkedIn: Yatin ChadhaWays to support beyond MD:Share beyond MD with your networkAmex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCP

In a unique twist, Sima Acharya interviews her husband, Dr. Yatin Chadha, a radiologist and podcaster passionate about financial literacy. They discuss life lessons, the evolution of their financial alignment, and the importance of personal development. Dr. Chadha shares transformative investment strategies and reflections on their parenting journey. The couple also reveals insights from influential reads that have shaped their views and expresses excitement about future podcast topics, creating a blend of humor and wisdom.

Today I host my friend & colleague, Dr. Matt Poyner. Matt breaks down the Registered Education Savings Plan (RESP) & other ways to optimize finances when it comes to our kids' education.Matt is a long time blogger at dividendstrategy.ca, physician, & is now passionate about offering flat fee financial planning.Discussion Points:- Matt's journey & foray into financial planning (2:34)- Basic RESP overview (14:15)- RESP set up - family vs specified (21:05)- Optimal RESP contribution strategy (23:09)- Investing approach inside an RESP (31:32)- RESP withdrawals & understanding the RESP buckets (37:26)- RESP options if your child doesn't go to school (44:00)- Thoughts on optimizing student financial aid (48:44)- Spending time with the kids - Matt's perspectives (57:50)Matt:matt@PoynerFinancial.cahttps://PoynerFinancial.cahttps://dividendstrategy.ca/blog-2/Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaEpisode Links:https://dividendstrategy.ca/blog-2/https://postcall.ca/subscribe?ref=YJc1MtZLsq&_bhlid=f71f181c85b22d7c236a5b072534f69e25f99241https://rhombus-butterfly-rwgm.squarespace.com/updatesininpatientmedicinehttps://www.looniedoctor.ca/2023/04/21/resp-contribution/https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4092/registered-education-savings-plans-resps.html

Mark Halpern (CFP, TEP, MFA-P) is one of the top voices in tax efficient philanthropy in Canada. Earlier this year, Mark interviewed me on the reasons to give, and I came up with 4 reasons important to me that I hope you will find useful.Discussion Points:- my background & journey (3:00)- the journey of beyond MD (6:02)- how my interest in philanthropy evolved (11:20)- reason #1 to give: giving makes is happier - what is the evidence? (13:10)- reason #2 to give: imparting valuable lessons to our children (20:05)- how to talk to our kids about giving (25:56)- reason #3 to give: networking & entrepreneurship (29:00)- reason #4 to give: financial benefits (33:20) - numerical example of transferring appreciated stock from your corporation (35:30)- how to make your charitable gifts more meaningful (39:30)Yatin Chadha:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaAmex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCPMark Halpern:https://wealthinsurance.com/https://powerofplatinum.com/https://www.linkedin.com/in/markhalperncfptepmfap/mark@wealthinsurance.comLinks from this episode:https://wealthinsurance.com/webdoc/TaxLetter-The-Entrepreneurial-Philanthropist.pdfhttps://mycharityfund.ca/https://www.givewise.ca/Ways to support beyond MD:Share beyond MD with your networkAmex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCP

I'm thrilled to host my friend & colleague, Arjun Saraf (CPA, CA, EMD). We focus on Mortgage Investment Corporations, with a focus on understanding the challenges in the current environment & key considerations when navigating this investment strategy.Discussion points:- Arjun's professional background (5:33)- Quick overview on New Haven's MIC (6:57)- Understanding equity based lending (8:50)- How does a high interest interest rate environment impact a MIC? (12:00)- The MIC business landscape today (15:07)- Tax treatment of MIC investment income (17:41)- Current trends on arrears (18:25)- Thoughts on interest rates (25:45)- Risk mitigations strategies within a MIC (29:40)- Key lessons learned running a business in this environment (35:13)- MICs vs other fixed income investment strategies today & when rates fall (36:30)- 3 Key questions to ask before investing in a MIC (39:40)- Time to liquidity/getting your money out (43:20)- Arjun's most valuable lesson (47:25)- My perspectives (49:50)Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaArjun:asaraf@integratedequities.comhttps://www.linkedin.com/in/arjun-saraf-cpa-ca-emd-b0667022/https://www.newhavenmortgage.com/

Justin Manning, a licensed life and health insurance broker, shares his expertise on Health Spending Accounts (HSAs). He explains how HSAs can utilize pre-tax dollars for medical expenses, making them advantageous for many. Justin discusses eligibility criteria and what services are covered, including travel insurance. He also highlights the flexibility of HSAs compared to traditional insurance plans and addresses potential pitfalls, such as fraud. His insights help demystify HSAs, making them appealing for both individuals and businesses.

In this conversation, Jason Pereira, an award-winning financial planner with deep expertise in pension strategies, discusses Individual Pension Plans (IPP) and their benefits for professionals. He explains the distinctions between defined benefit and defined contribution plans and identifies who is best suited for an IPP. Jason also highlights common financial mistakes among business owners and the potential improvements in Canada’s financial planning landscape. Additionally, he shares insights on the importance of continuous learning and personal growth in achieving financial success.

I am delighted to host international best selling author, Andrew Hallam, on today's episode.We have a wide ranging discussion on the pillars of a successful life, the relationships between money & home ownership & happiness, spending money to enhance life satisfaction, evidence-based investing for success & simplicity, relationships, purpose, & lessons learned living abroad.Discussion Points/Chapters:- Andrew's background (1:40)- The requisites of a balanced & successful life (5:35)- The relationship between income and happiness (7:30)- How should we spend our money? (10:40)- The desert island litmus test (15:55)- Is home ownership associated with happiness? (18:05)- Is our happiness impacted by the neighbourhood we live in? (21:59)- How much of our income should we spend on a home? (25:10)- Why our investment horizon should be 30+ years (27:10)- Should you lump sum invest now or wait? (31:30)- Andrew's take on one stop shop ETFs (38:00)- My investment approach & challenges (42:30)- Key questions to as a financial advisor (46:17)- How to think less about $$ and embrace balance (50:00)- Why relationships are so important (52:99)- Meaningful relationships in a world where social media is ubiquitous (54:38)- Lessons from living abroad, advice for those considering it (59:00)- The power of giving (1:02:30)- Finding your purpose (1:04:35)- My perspectives (1:09:15)Andrew's books:https://www.amazon.ca/Balance-Invest-Happiness-Health-Wealth/dp/1774580756https://www.amazon.ca/Millionaire-Teacher-Wealth-Should-Learned/dp/0470830069https://www.amazon.ca/Millionaire-Expat-Wealth-Living-Overseas/dp/111941189Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin Chadha

Welcome back to beyond MD! Do you have an idea you want to bring to the world? If so, this episode is for you. Today I sit down with Matija Kamikovski, CEO of Precision Finance. Matija has more than a decade of experience leading finance teams at start ups.Discussion Points:Matija's background in guiding startups (4:10)Coming up with a sustainable business idea (7:50)How to get data on the usefulness of your idea (10:25)How do you know people will pay for your idea? (13:05)Attributes leading to success/failure in entrepreneurship (14:45)How do you actually get started? (17:59)The financial metrics you need to track in the early days - cash, burn, runway (25:10)Growth at all cost vs bootstrapped businesses (27:03)How often should we track the financial metrics? (29:30)Operating as a sole proprietor vs incorporating the business - set up, liability, tax deductions (30:30)Budgeting, accounting, bookkeeping - guidelines & platforms (37:50)When should a company start outsourcing tasks? (43:20)Potential pitfalls of hiring to quickly (45:00)The importance of sales (47:41)Exit strategies (50:13)What % of percentage of start ups fail? Don't let the thought of failure stop you (53:27)Closing thoughts by Matija (55:12)My perspectives This episode features Arya EHR - https://www.aryaehr.com/**I endorse only products/services I personally use or would use. Any income generated offsets the costs of running this podcast :)Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaMatija:matija@precisionfinance.cahttps://www.precisionfinance.ca/https://www.linkedin.com/in/matijakamikovski/