beyond MD with Dr. Yatin Chadha

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/

I'm thrilled to host Ali Spinner, one of Canada's most trusted voices in tax, on the implications of the proposed hike in the capital gains inclusion rate.Discussion Points:- Tax 101 & What happened to the capital gains inclusion rate (0:55)- Numerical example with 100K capital gains (5:51)- Has tax integration been violated? Where should we hold certain assets like rental properties? (6:25)- Is it still worthwhile incorporating? (13:30)- A brief history of the capital gains inclusion rate (16:48)- What can investors do?:a) absolutely nothing (19:05)b) selling assets and impact of Alternative Minimum Tax/AMT & GAAR/General anti-avoidance rules (21:07)c) tax planning through insurance and pension plans (29:10)d) departure tax for those considering leaving Canada (32:05)- Change in Lifetime capital gains exemption/ LCGE, capital gains exemption for entrepreneurs (34:10)Yatin's Links:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaAli Spinner:Alexandra.spinner@crowesoberman.com

I'm happy to have Dr. Kevin Mailo back on the show to discuss what he's learned from investing in real estate (RE) over the last 15 years. We talk about winners and laggards in the portfolio, property managers, challenges with direct ownership in RE, the importance of due diligence in private equity, & how critical it is to understand your "why" in investing.Physician Empowerment's Toronto conference occurs May 25-26 this year and you can save $100 using the discount code YATIN24 at: https://www.physempowerment.ca/liveDiscussion Points:- Kevin's reflections on his RE investing journey so far (4:09)- Property managers and cognitive overload (8:55)- Letting go of (challenging) properties & learnings (10:30)- Kevin's RE portfolio (13:06)- Characteristics of good RE investments in the portfolio, investing in Alberta (14:42)- Properties that haven't worked out, details on preconstruction condos (17:10)- Advice for those starting RE investing today (23:05)- Reflecting on how many properties to hold for retirement (27:10)- How does private equity investing work? (29:55)- Private equity and due diligence (33:34)- Private equity investment timelines & return types (36:68)- Public vs  Private investment breakdown/rules of thumb (39:15)- Public REITs (40:08)- Goals for the next few decades (40:59)Links:Yatin's Links:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaKevin's Links:kevin@physempowerment.cahttps://www.physempowerment.ca/live

Parish Bhumgara, an associate lawyer at Gardiner Roberts LLP specializing in corporate law, shares his insights on corporate shareholder agreements (CSAs). He explains how CSAs clarify relationships between business partners and mitigate disputes, especially in tough times. The discussion covers different share types, organizational roles, and the importance of outlining responsibilities. Parish also touches on the advantages of using CSAs for real estate investments and addresses potential disadvantages, making a compelling case for their long-term value.