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:

• [email protected]
• https://PoynerFinancial.ca
• https://dividendstrategy.ca/blog-2/

Yatin:

• Email: [email protected] 
• LinkedIn: Yatin Chadha

Episode Links:

• https://dividendstrategy.ca/blog-2/
• https://postcall.ca/subscribe?ref=YJc1MtZLsq&_bhlid=f71f181c85b22d7c236a5b072534f69e25f99241
• https://rhombus-butterfly-rwgm.squarespace.com/updatesininpatientmedicine
• https://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: [email protected]
LinkedIn: Yatin Chadha
Amex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCP

Mark Halpern:
https://wealthinsurance.com/
https://powerofplatinum.com/
https://www.linkedin.com/in/markhalperncfptepmfap/
[email protected]

Links from this episode:
https://wealthinsurance.com/webdoc/TaxLetter-The-Entrepreneurial-Philanthropist.pdf
https://mycharityfund.ca/
https://www.givewise.ca/

Ways to support beyond MD:
Share beyond MD with your network
Amex 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: [email protected] 
• LinkedIn: Yatin Chadha

Arjun:

• [email protected]
• https://www.linkedin.com/in/arjun-saraf-cpa-ca-emd-b0667022/
• https://www.newhavenmortgage.com/

Today I'm excited to host Justin Manning, a licensed life & health insurance broker from BC, to talk about a topic I've been getting many questions on lately: Health Spending Accounts, HSAs.

Discussion Points:
- Justin's background (4:05)
- What is an HSA/PHSP (4:45)
- HSA eligibility (5:42)
- Who could benefit from an HSA? (9:45)
- What services are covered by an HSA? (11:20)
- Can travel insurance be covered by an HSA? (13:29)
- Specific services covered/not covered by an HSA (14:20)
- The mechanics of how an HSA works (16:55)
- How much coverage are we allowed through an HSA? (19:49)
- Plan customization, wellness spending accounts (22:22)
- Set up, key questions, costs (26:26)
- Any HSA cons (?), potential misuse (32:28)
- No need to prove health (36:38)
- Can provincial plans like OPIP be paid through by our corporation (37:17)
- Justin's closing thoughts, what if I already have a good group plan? (38:37)
- My perspectives (42:30)

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: [email protected] 
• LinkedIn: Yatin Chadha
• Amex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCP

Justin:

• https://www.linkedin.com/in/justin-manning/
• https://justinmanning.com/
• [email protected]

Today I'm thrilled to welcome Jason Pereira, award winning financial planner to the show to re-explore pension plans for professionals. The focus is on the IPP, the individual pension plan.

Discussion Points:
- Individual Pension Plan (IPP) overview (2:40)
- Jason's background (5:25)
- key definitions - defined benefit (DB) & defined contribution (DC) pensions (6:10)
- how is the DB of an IPP calculated? (7:18)
- When to start an IPP? Thoughts on waiting longer & reducing fees (11:20)
- Who is the ideal candidate for an IPP? (14:08)
- Is there an income threshold below which an IPP makes no sense? (16:25)
- Is there a ceiling to the DB? (18:05)
- Jason's thoughts on the RCA (21:02)
- IPP vs PPP (26:00)
- Does is make sense to place conservative assets inside the DB component? (30:33)
- Is the contribution amount similar across different pension types? (32:28)
- Navigating the pension landscape (32:50)
- IPP vs RRSP & Spousal RRSP (34:30)
- IPP vs investing in a corporation with new cap gains rules (35:15))
- Common mistakes professionals & business owners are making (37:45)
- Improvements upcoming to financial planning in Canada (42:26))
- The most valuable lesson Jason has learned (50:00)

Yatin:
[email protected]
https://www.linkedin.com/in/yatin-chadha-29074b109/

Jason:
https://jasonpereira.ca/
https://jasonpereira.ca/financial-planning-for-canadian-business-owners-podcast-jason-pereira
https://www.linkedin.com/in/pereirajm/

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/1774580756

https://www.amazon.ca/Millionaire-Teacher-Wealth-Should-Learned/dp/0470830069

https://www.amazon.ca/Millionaire-Expat-Wealth-Living-Overseas/dp/111941189

Yatin:

• Email: [email protected] 
• 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: [email protected] 
• LinkedIn: Yatin Chadha

Matija:

• [email protected]
• https://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: [email protected] 
• LinkedIn: Yatin Chadha

Ali Spinner:
[email protected]

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/live

Discussion 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: [email protected] 
• LinkedIn: Yatin Chadha

Kevin's Links:

• [email protected]
• https://www.physempowerment.ca/live

In this episode I sit down with Parish Bhumgara from Gardiner Roberts LLP to discuss corporate shareholder agreements (CSA).

Discussion points:
- Parish's background (2:05)
- Corporate shareholder agreements/CSAs: what & when? (2:40)
- CSAs: who should consider this? (3:45)
- CSA structure (6:20)
- CSA share types (8:05)
- Key details to be outlined on a CSA (11:03)
- Unanimous shareholder agreements (16:33)
- Scenarios where CSAs really help (17:33)
- Separate corporation to invest in Real Estate (19:52)
- Corporations as a way to reduce liability (21:55)
- Any disadvantages to CSAs? (23:30)
- CSA set up (24:45)
- CSA cost (25:05)
- Transferring shares (27:18)

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: [email protected] 
• LinkedIn: Yatin Chadha

Parish:

• [email protected]