Ooooh - which podcast?

Also - excited to get my hands on this book soon! (I have a backlog to work through)

Business Owners – why RRSP’s WILL save you Thousands of dollars in Tax: Dollar for dollar tax deferral During RRSP season (And otherwise) it’s not uncommon for me to come across the argument that RRSP contributions are not worth it for incorporated business owners. This usually comes from: - Current in...

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Business owners have been told that RRSP's are not a good place to invest & instead hold it in their corp.

That information is outdated.

The RRSP is amazing. True dollar for dollar tax deferral is just one of many reasons why.

Check out the article to learn more! (Link below)

Plugin for youtube videos faster than 2X speed? YES PLEASE

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Using your paystub to calculate your net income - Sales Rep Edition Being a sales rep means your income can be amazing one year and down in the dumps the next. It makes for a challenging year over year BUT it also means that there is a lot more value in understanding ...

If you are a sales rep looking to calculate your net income for tax planning and RRSP planning - this article's for you!

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Calculating Your Net Taxable Income as a Midwife (or Sole Proprietor) As we enter RRSP Season this is a big planning time for midwives. It can allow them to determine how much in tax they will owe and what their marginal tax bracket is to figure out whether additional R...

A write up for how as a midwife you can think about calculating your net taxable income.

Enjoy!

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It's 2025 and here are some things that still surprise me as "not commonly understood about investing".

- Fees matter
- Diversification matters
- Taxes Matter
- No one can tell the future

If you can really embrace these concepts - you'd be shocked at how far you can get ahead.

If this is you - use this as your sign. Book that meeting that you know you have been putting off.

If you have a successful business and you don't know where to turn for that next step?

Reach out - I'm here to help.

As a profitable business owner - first step might be: "Book a meeting with my advisor/accountant/lawyer".

It allows you to focus on running your business.

It allows the other professionals to map out the action plan for you based on what you want and need.

If this is resonating with you - the problem is NOT you.

You are already busy doing all the things you are supposed to.

Running a business
Growing the profits,
Asking what you need to do to protect your future.

Instead turn to your professional team.

In addition to the uncertainty - the steps might still be difficult.

Knowing as a business owner that you should incorporate and set up a hold co is great.

But: that has many steps inside it:

- Get a Lawyer & Accountant for paperwork
- Flow funds to hold co to invest
etc

That uncertainty is where people often fall down. It get's overwhelming and leads to "You know what - the business is my priority and if I just keep working on growing that - it'll be fine...I think".

The action plan never get's created and the goal potentially doesn't get met.

Here's an example:

A business owner with a successful business might have a financial goal of exiting the business in 10 years with $_______ to retire on. It's a SMART Goal.

But what's the action plan?

Incorporate? Set up a Hold Co?

Save in the Hold co or RRSP or other?

...you also need an action plan.

A goal is great. A goal without action means you are standing in the same spot hoping for change.

This is the part where many people fall down. Because the actions that are required are either too hard, too complicated, or unknown.

Personal Finance (Numbers) and SMART Goals work well together.

Specific - Keep it focused
Measurable - Can you track it regularly?
Achievable - Is it realistic for YOU?
Relevant - Does it line up to what your ideal end state is?
Time Bound - Completed within a time frame

but...

Key moments like a new year, a birthday, or a major milestone are a great chance to stop, reflect, and set new goals.

Setting the goal is only half the battle.

Today - let's talk about the challenges as a Business Owner in TAKING ACTION after you set your SMART Goals.

For the CCB - it's just a percentage increase - like a marginal tax. So you need to plan around it accordingly - just like marginal tax today vs retirement.

I love all of this.
I would caveat the RRSP over TFSA in 3 situations though:

1) Taxes today vs future when you pull it out. If taxes are higher today - you would benefit from the RRSP.
2) Buying a house or going back to school - you get the HBP or the LLP
3) Kids - the CCB is tied to income

None of these are magical solutions.

If you harness all of these to work in your favour...you will be amazed at how incredible the compounding effect is.

If you need help getting those first 4 points in order - I'm here to help.

Reach out anytime.

5) Not investing in themselves

Congrats on hitting those 4 main points.

Now is NOT where you over optimize on personal finance.

Instead use that peace of mind to reassess the rest of your life.

There's a huge ROI on upskilling, networking, learning, etc.

Plan accordingly.

4) Get your planning straight.

I often see things like RESP's underfunded or RRSP's under utilized.

They often get handwaved away as "it's not that much money"

These little things add up over time.

Ex. $2500 in an RESP yearly for 14 years at 6% turns into $66,000.

3) Pay off debt

Mortgages (and other higher interest debt) have higher rates than before.

In Canada - the interest rate is is not deductible (investment related debt excluded).

Once a TFSA is filled up - the hurdle rate for most personal debt is tough to beat.

Pay it off!

2) Not taking enough risk

Risk tolerance IS important. Part of that is also education about markets.

However - I have seen many people defaulted into conservative funds due to improperly filled out surveys or lack of advisor communication.

Revisit the risk of your portfolio.

1) Keeping too much in cash or GIC's

People are often tempted by promotional interest rates and leave more cash in their bank account or a GIC because of the "safety".

Set your ideal emergency fund - and use the rest of the cash in better places.

The most common phrase I hear from prospective clients is "we want our money to 'DO MORE'".

Here are the 5 most common mistakes I see people make with their cash that are keeping them from growing their net worth quicker.

Follow these steps to put your hard earned money to work...FOR YOU👇

If your first question is "Can my budget afford it"...

Whole Life Insurance is the wrong choice for you.

For retirement savings - RRSP's will be better than TFSA's for most working full time adults.

Even more so if kids are in the picture.

Why does due diligence on alternative investments (Specifically retail funds offering investments like Private Real Estate, etc) sometimes feel like a game of those Russian nesting dolls?

You ask 1 question and the information they give you makes you want to learn and understand 2 more questions...

I dunno about that. Pandering too much and trying to be them exactly...maybe.

But there is something to be said about being able to be in the same room as people who may or may not be able to get you where you need to go.