Welcome to Part 2 of Permanent Life Insurance with Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance.

Discussion points:
PAR Whole life investments (2:05)
PAR fund performance, dividend scales (5:51)
PAR fund actuarial assumptions (9:45)
Performance headwinds/tailwinds, dividend smoothing (14:55)
Open and closed policy blocks (19:08)
Illustrations: what we need to know (23:45)
Permanent life insurance as an asset class (31:10)
Universal life investments and costs (35:30)
Non-participating WL vs PAR (41:55)

Jeff Bernstein:
https://www.linkedin.com/in/jeffreymbernstein/
[email protected]
https://seligman.ca/

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

It's finally time to tackle permanent life insurance with a series of episodes. I'm thrilled to host Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance as we do a deep dive on this topic.

Discussion points:
Jeff's background (5:57)
What is permanent insurance? (9:30)
Considerations for permanent life (12:30)
Core concepts: adjusted cost basis & capital dividend account/CDA (16:35)
Types of permanent life insurance: Universal Life (UL), Whole-life (WL) (24:35)
Participating vs non-participating whole life insurance (27:07)
Understanding key policy components: death benefit & cash surrender value  (31:35))
Permanent life policy funding timelines: does it make a difference? (33:57)
Policy structure: growth vs estate oriented (37:49)
Can term life be converted to permanent life? (40:28)

This episode features Arya EHR - https://www.aryaehr.com/

**I endorse only products/services I personally use or would use. I can get commissions that will be used to offset the costs of running this podcast :)

Jeff Bernstein:
https://www.linkedin.com/in/jeffreymbernstein/
[email protected]

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

In this episode I welcome Rounak Langhe, MBA, CFA, founder of Durham Asset Management.

Rounak is an expert in fixed income investing. The aim of the this episode is to cover the fundamentals of bonds.

Discussion Points:
- Rounak's background (3:35)
- what is a bond? Understanding the the 3 C's & coupon rate, maturity, and payment dates (8:40)
- overview of bond types: government, corporate, junk/high-yield & bond rating agencies (13:04)
- lower risk for higher yields in the bond market today? (19:24)
- main determinants of bond yields, yield curves (21:00)
- basic bond math, impact on future bond prices (22:47)
- investing in bonds when rates have (hopefully!) peaked  (26:38)
- why have bonds into your portfolio? (28:02)
- ways to invest in bonds - individual holdings vs ETFs vs mutual funds, fees (30:24)
- Canadian bond universe ETF composition (34:10)
- bond ETF fact sheets (36:29)
- is the 10 year US treasury yield a good marker for yields over the next 10 years? (38:18)
- closing thoughts (39:52)

Check out the postcall newsletter: https://postcall.ca/subscribe

Mark Soth's article on bonds in a professional corporation: https://www.looniedoctor.ca/2023/10/13/bond-etf-corporation/?fbclid=IwAR2KfvzLFPCQ9BdV5dyOSG7j2E_gNtixfWkPZTjC6nIyS7gfLizXvpf-sco

Yatin's Links:
[email protected]

This episode provides a deep dive into donor advised funds, a lesser known philanthropic strategy. I'm happy to have Mark Halpern, CEO of WealthInsurance.com back on the pod.

Discussion points:
- what is a donor advised fund/DAF (5:23)
- what can flow into a DAF? (8:23)
- transferring appreciated corporate securities to a DAF (11:50)
- rules around tax deductions on (DAF) contributions (15:32)
- others contributing to your DAF (17:10)
- DAF contribution rules (18:39)
- setting up a DAF (22:30)
- investments inside a DAF (23:20)
- DAF investment management fees (25:10)
- Slecting charities, money flowing out from a DAF (27:43)
- any DAF cons? DAF vs Private Foundations (30:43)
- more on private foundations (33:45)
- charitable gift annuities (35:42)

Mark's Links:
website: https://wealthinsurance.com/
email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhalperncfptepmfap/

Samples from Mark's Monthly Tax Letter:
https://wealthinsurance.com/webdoc/TaxLetter-Seven-Defensive-Strategies.pdf
https://wealthinsurance.com/webdoc/TaxLetter-Preserve-Your-Wealth.pdf
https://wealthinsurance.com/webdoc/TaxLetter-Accidental-Philanthropy.pdf

List of all Tax Letter Publications:
https://docs.google.com/document/d/1hNhZ7CSeOr2NBNdwZXCs6nL5gsRZb1Eisht_D5JxfeY/edit

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

Physician Financial Wellness Conference: https://www.physiciansficonference.com/

Today I host Ricky Zhang, founder of the Prince of Travel. This is a deep dive on understanding & optimizing travel rewards so that we can travel the world by spending less!

Discussion Points:
Ricky's background & the origin of Prince of Travel (3:45)
How does the points system work? (7:07)
Earning points rapidly through credit cards (11:14)
Credit score fundamentals (19:07)
Should we keep our credit cards for the long term? (22:40)
The credit card game isn't for everyone - who should avoid it? (26:54)
Other ways to rack up points at a faster pace (31:40)
The best credit card for Canadians: Amex Cobalt (32:47)
Credit cards for small business owners, why Amex points are so versatile (33:45)
Understanding the RBC Avion point system (37:04)
Redeeming points efficiently, dynamic pricing, ideal booking windows (39:47)
Example of redeeming points - Toronto to Portugal (45:26)
Prince of Travel Concierge services (50:07)
Aeroplan elite status (52:15)
How to get started (53:40)
Rapid fire, including a strong credit card portfolio (55:19)
How many credit cards does Ricky have? (58:58)
Closing thoughts (60:20)

Credit card links (cards I use & benefit from):

Amex Business Platinum:
https://americanexpress.com/en-ca/referral/yATINC4uFw?XLINK=MYCP

Amex Cobalt:
https://americanexpress.com/en-ca/referral/yATINCwb0U?CPID=999999538

Social media links & email:

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

Ricky:
https://princeoftravel.com/
https://www.youtube.com/@PrinceofTravel

Due to popular demand, finally overcoming my procrastination, and finally getting more comfortable with my knowledge base, I am thrilled to welcome Dr. Mark Soth (aka The Loonie Doctor) to beyond MD.

This is corporate tax and corporate investment optimization 101.

Discussion Points:
The mission behind the Loonie Doctor Blog (2:41)
Mark's evolution (6:17)
Corporation taxation basics (8:29)
What are the main advantages of incorporating? (10:46)
RDTOH basics (12:45)
Canadian/eligible dividends earned through the corporation - should we pay these dividends out to ourselves (15:29)?
Overview of passive income rules (19:15)
GRIP/General Rate Income Pool (21:30)
ON and NB are different with the passive income rules (22:57))
Capital gains harvest & the capital dividend account/CDA (27:16)

Mark's blog: https://www.looniedoctor.ca/

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

Today I sit down with Dr. Michael Fralick, who is a Clinician-Scientist at the University of Toronto to talk about locuming as a physician.

Mike and his brother, John Fralick, host the Rounds Table podcast, bringing summaries of the most relevant randomized controlled trials to practicing physicians.

Table of Contents:
My opinion on the benefits of locuming (0:48)
Dr. Mike Fralick's background (4:37)
Mike's experiences locuming to date (5:45)
Where to locum, how to sign up for locums (7:48)
The motivation behind locuming (9:38)
The key benefits of locuming (11:03)
Time & geographical freedom through locuming? (14:34)
The key negatives/challenges of locuming (16:05)
Finances of locuming (19:16)
Billing on locums (22:08)
What expenses are covered on a locum? (23:39)
Tax implications for some academic physicians (24:18)
Locum contracts (26:09)
Mike's "Rounds Table" podcast, elective for residents in Sue St. Marie (27:36)

Mike's Links:
https://healthydebate.ca/special-series/podcasts/
https://twitter.com/FralickMike

Yatin's Links:
https://www.linkedin.com/in/yatin-chadha-29074b109/
[email protected]
beyondmdpodcast.com
https://www.youtube.com/watch?v=yAEU2ElLq70

Welcome to my 50th episode!

Today we focus on the most important insurance policy we all need: disability insurance (DI).  The discussion focuses on fully understanding the policy & key riders, and optimizing the policy for your needs (as well as cost).

Please note: DI basics are covered in episode 2 for anyone seeking a refresher.

My guest: Kristen Fazio from Professionals' Insurance Centre.

Discussion Points:
How much DI coverage do we need? (3:54)
Max coverage, strategies for high earning professionals (6:43)
When should medical trainees consider DI? (9:15)
Future income rider (11:23)
Ways to cut cost on your DI policy (13:23)
Own occupation rider - who needs this? (15:24)
Do radiologists need the own occupation rider? (18:49)
What happens if your alternate job generates more income than medicine? (20:19)
Partial and residual disability (21:40)
When to consider canceling DI (25:16)
Term life insurance - how much do we need? (27:37)
Spousal income (31:54)
The impact of inflation on your projections (33:54)
Are we adequately insured? (36:15)
Closing remarks (37:45)

My Links:
https://www.linkedin.com/in/yatin-chadha-29074b109/
[email protected]
beyondmdpodcast.com
https://www.youtube.com/watch?v=5unvnOc0OIo

Kristen's Links:
[email protected]
https://www.professionalsinsurancecentre.com/

Thanks for joining me on part 2 of my money mistakes.....too many to count ;)

After discussing the highlights from my California  road trip, I talk about 6 more mistakes that have cost me big & what we can learn from them.

The first mistake starts at (6:09).

This year we made a conscious decision to travel the world more & live our best lives today. I'm learning more about optimizing travel rewards & am sharing the link to my preferred card below:

Amex platinum credit card (business owners & sole proprietors):
https://americanexpress.com/en-ca/referral/yATINC4uFw?XLINK=MYCP

Please note: I use this card myself & will receive travel points through this link. You can support beyond MD using this link if you feel you would benefit.

My links:
https://www.linkedin.com/in/yatin-chadha-29074b109/
[email protected]
beyondmdpodcast.com
https://www.youtube.com/watch?v=avyBAcrUSKg&t=2s