no, an emergency fund isn't for when someone wants to borrow money or a vacation or a sale! 

I share some thoughts on emergency funds as I think about our home budget. Leave your feedback below if you want to spitball with me.

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Join us for the September Patreon Bonus episode! feedback welcome, comment on this post or send us a message! :)

Thank you for your support.

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I am not a certified financial planner, I'm just a guy who likes to worry about the future. If you need to make a big financial decision I recommend looking into fee-only financial planners in your area who do not make commissions selling products. They are often expensive, charging $150/hr or more, but they are worth it if you have a big decision or plan to make. When it comes to your personal financial picture, unfortunately a google search often isn't going to cut it. 

I really feel like this episode might confuse some people, so please check out the following resources:

Information on RRIF's (RRSP's need to be converted to RRIF's in retirement) 

MoneySense article on how OAS clawback works  

OAS - old age security clawback info from Canada.ca 

A note on OAS, I mentioned the clawback amount that would need to be paid back the next year, I did some more reading and found that you don't need to pay it at tax time, it's divided into monthly payments to make it manageable, so it's not as big of a deal for you to save some money to pay it back. 

OAS info in general 

GIS - guaranteed income supplement info 

 SimpleTax income tax calculator to use for comparing RRSP tax breaks at different income levels in different provinces 

Cha-Ching sound by Muska666 on soundbible.com

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I wanted to share my experience and thought process on small private equity investments through new innovative companies like FrontFundr and Invesdor.

It's important to note that private equity is a very risky investment and should not be considered an option for everyone, it really varies based on your personal situation and you should consult a certified financial planner and definitely sleep on it before heading into this territory. I am not a CFP or a financial professional, I'm just a regular guy sharing his own thoughts and findings.

For me personally I am going to mitigate my risk by keeping it a small portion of my portfolio (less than 10%, maybe 5%) and also I have evaluated my own risk tolerance to be very high and that falls in line with my pension plan and goal horizon. 

Here's some links for reference:

FrontFundr: Ecologyst  https://www.frontfundr.com/ecologyst 

Invesdor: OceanVolt  https://www.invesdor.com/en/pitches/1064 

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I go over my choices and findings for my pick on which index fund ETF I'm going to use for my Europe and Far East (EAFE) Developed fund in my portfolio. Explaining a bit on what an index fund and an ETF is and then why I picked what I did. 

WealthSimple article explaining their fund philosophy: https://www.wealthsimple.com/en-ca/magazine/sri-portfolio 

Tim Nash on the new WealthSimple funds: https://youtu.be/Ws36vx3YTcM

If you do setup a WealthSimple Trade account, consider using this link: Wealthsimple Trade is Canada's first $0 commission stock trading app – sign up now and we'll both get $10 to trade https://bit.ly/316dhhm

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