Unconventional Wisdom
Welcome to the Unconventional Wisdom podcast. The show that helps you achieve financial security & freedom. Insights based on in-depth experience from Canada's #1 financial planner blogger. Find out what really works. Your host, fee-for-service financial planner & tax accountant, Ed Rempel.
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Why Don’t Most Financial Planners Plan Finances?
06/26/2025
Why Don’t Most Financial Planners Plan Finances?
What do you call a financial planner that does not plan finances? I know that sounds funny. But it is an important topic to understand. Most people assume that when they hire a financial planner, they're getting a personalized roadmap for their financial life. Yet surprisingly, that’s often not the case, and it can have a huge impact on your future. In my latest podcast episode you’ll learn: Why don’t most financial planners plan finances? What does Ed’s team see with the public? What is a financial plan? What difference does a Financial Plan make in your life?
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How to Reliably Maximize Your Retirement Income – Is the “4% Rule” Safe?
06/19/2025
How to Reliably Maximize Your Retirement Income – Is the “4% Rule” Safe?
You want to retire soon. What is the best way to set up your retirement income to give you the maximum cash flow that will reliably last the rest of your life? Many financial planners use the “4% Rule”, which says that you can, for example, withdraw $40,000/year rising by inflation for life from a $1 million portfolio. Is that safe? I studied 146 years of investment history. The conclusions are surprising: 1. Most of the advice seniors are given is not supported by history. 2. I found what really works to give you the maximum reliable retirement income – both how to set up your portfolio and manage your income. In my podcast episode you’ll learn: What is the typical advice given to seniors and does it work? What does Ed’s study of 146 years of history show about the 4% Rule? Which asset allocations provide the most reliable retirement income? What is the main risk to your retirement for any asset allocation? Is it safer to hold some cash to use during market downturns? What are the reasons that the actual results of history are surprising? How can you manage “sequence of returns risk”? What is the impact of inflation? How does your risk tolerance affect your retirement income? What is Ed’s rule of thumb for a safe withdrawal rate? Are there advanced methods to manage a higher retirement income with 100% success?
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Financial Advice or Financial Quackery?
06/12/2025
Financial Advice or Financial Quackery?
How can you tell whether financial advice you receive is real financial advice or financial quackery? Much of what happens in the financial industry is financial quackery, but because the common methods are familiar to most of us, they appear normal. You can’t really see how inadequate and funny many financial procedures are until you compare them to other fields. “Quackery” is a fun word that normally refers to medicine. It is a type of health fraud that promotes products and services that have questionable and unproven scientific bases. In my latest podcast episode you’ll learn: What is financial quackery? Why is it a major problem for Canadians? How can it ruin your retirement plan? What is “risk” in financial planning? How can you make informed decisions about your risk tolerance AND your goal? If you’ve ever been handed a generic investment recommendation after a fifteen-minute chat and a “risk tolerance questionnaire,” you may have met a financial quack. Just like in medicine, real advice requires a proper diagnosis—and skipping that step can be costly. 🦆 Discover how to spot the quackery, protect your retirement, and make decisions that actually align with your life goals.
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Journey to Conquer Cancer Walk for Princess Margaret Research in Honour of Ann Hetram
06/05/2025
Journey to Conquer Cancer Walk for Princess Margaret Research in Honour of Ann Hetram
This is a personal post and my first post with a request. My wife, life partner and business partner, Ann Hetram, passed away unexpectedly from cancer 2 months ago. She received excellent care at Princess Margaret Hospital, which is the best cancer hospital in Canada. In her honour, I am co-captain of a team in the Journey to Conquer Cancer walk to support research at Princess Margaret Hospital. My team is the Harbour Square Team for my condo building. The walk is on Sunday, June 15 at 9 AM. It starts at the University of Toronto, Varsity Stadium, 299 Bloor Street West, Toronto. Donations support breakthrough research, supporting over 1,600 researchers and scientists working on innovative projects, such as early detection methods, personalized cancer treatments, and immunotherapy advancements. Ann’s cancer was classified as an “unknown tumor”. She received a personalized cancer treatment including immunotherapy. I’m hopeful that with your support, research will advance to help others facing rare cancers like hers. Whether you walk with us, join virtually, or donate — every step and every dollar counts. Thank you, Ed
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Rempel Maximum - The Story of Joe & Rich
05/29/2025
Rempel Maximum - The Story of Joe & Rich
How can your life really be different if you focus on maximum wealth-building principles? It’s not about the money. It’s about your life. This story is an extreme version of the life of an ordinary person managing his money exceptionally. The concepts are in my last post, “Rempel Maximum – 5 Steps to Becoming a Multi-Millionaire”. We often hear that building wealth is just about numbers. But here’s the truth: the numbers are just the tools. What really matters is what those numbers do for your life. In this article, you’ll see the stark contrast between two ordinary guys—Joe and Rich—who made radically different financial choices. One followed conventional advice. The other followed a plan most Canadians don’t even know exists. In my latest podcast episode you’ll learn: Why conservative investing may quietly sabotage your retirement, and what you can do instead. How aggressive (but smart) leverage can massively increase your net worth. The truth about long-term stock returns compared to balanced portfolios. How the Smith Manoeuvre can create wealth without using your cash flow. What “last decade risk” is, and how to avoid it derailing your retirement. The power of tax-efficient investing and how to compound your tax refunds. How building wealth gives you more than luxury — it gives you freedom, confidence, and impact. Why hardly anyone should actually follow these principles to the maximum. What living an “exceptional life” actually looks like when you manage your money exceptionally.
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Rempel Maximum: 5 Steps to Becoming a Multi-Millionaire
05/22/2025
Rempel Maximum: 5 Steps to Becoming a Multi-Millionaire
Remember the show “Who wants to be a millionaire?” Are you the kind of person that wants to build some serious wealth? Live an exceptional life? Be financially free? I don’t mean just a comfortable amount. I mean a lot – like being a multi-millionaire. The truth is, average people can become very wealthy just by managing their money for maximum growth. I’m not talking about a “get rich quick scheme”. I’m talking about a solid, reliable way to become wealthy over time. The Rempel Maximum is the most aggressive of the 8 Smith Manoeuvre strategies. In my latest podcast episode you’ll learn: What is the Rempel Maximum? What is your motivation? Where does this idea come from? What are the 5 steps to building maximum wealth? What are the 5 power principles it is based on? What are the risks? What tax & investment strategies can be part of the Rempel Maximum? Some examples of the Rempel Maximum concept vs. conventional wisdom.
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The Smith Manoeuvre – Is Your Mortgage Tax Deductible?
05/08/2025
The Smith Manoeuvre – Is Your Mortgage Tax Deductible?
The Smith Manoeuvre is an efficient strategy to use equity in your home to invest for your future without using your cash flow. It converts your mortgage over time into a tax deductible investment credit line. Most Canadians are searching for a feeling of financial security, but all the bills & life expenses mean they never build up enough of a nest egg to be secure. The Smith Manoeuvre is a strategy that can help you build your nest egg and help you achieve the retirement you want without using your cash flow. We have become known as experts in the Smith Manoeuvre, having helped hundreds of Canadian families implement it. It is one of the most effective wealth-building strategies when done by the right people in the right way over the long term. In my latest podcast episode you’ll learn: What is the Smith Manoeuvre? What are the benefits? What are the risks? How do you manage the risks? How do you implement it? How do you avoid having to use your cash flow? How long should you ideally do the Smith Manoeuvre? Are there really 8 Smith Manoeuvre strategies? Is it legal? What is the best way to invest with the Smith Manoeuvre? How can I learn more and find out whether the Smith Manoeuvre is right for me?
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3 Principles of Successful Investors (UPDATED)
05/01/2025
3 Principles of Successful Investors (UPDATED)
Are you one of those investors for whom things just seem to always work out well? Getting superior long term returns seems to take little effort. Whatever strategy you use seems to eventually work. You don’t spend much time or effort, yet most of the time you are feeling quite confident about your investments. Or are you the type of investor who always seems to struggle? It seems everything you buy goes down right after you buy. When you finally sell, they take off. And the investments you hold long term mostly underperform. We have often encountered both these types of investors. Struggling investors are far more common. They usually have trouble believing that many investors outperform with little effort. Those that find investing effortless just shake their heads at the frantic activity of struggling investors. This applies to both professional and amateur investors. Why is investing so easy for some and for others it is always a struggle? In my podcast episode you’ll learn: The real reason some investors succeed with ease while others constantly struggle — and it’s not about picking the right stock. The 3 core beliefs that define successful investors: Faith, Patience, and Discipline — and how each one dramatically impacts your long-term returns. Why faith in the market and humanity is more important than trying to outguess short-term movements. The staggering cost of impatience: how chasing performance can quietly erase up to 75% of your lifetime returns. Why fewer transactions = better results, and how overtrading (especially by DIY investors) sabotages success. The #1 mistake most investors make — and how having a long-term financial plan keeps you grounded and growing.
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When Can I Retire With the Lifestyle I Want?
04/24/2025
When Can I Retire With the Lifestyle I Want?
When can I retire with the lifestyle I want? That’s the #1 priority for our clients—based on my experience creating thousands of financial plans over the last 25+ years. They want financial freedom. It’s what we all really want. But you need a retirement plan to get there. It won’t happen on its own. Creating your retirement plan is fun. It’s not about the money. It’s all about your life. Your retirement plan is the GPS for your life. It makes you wealthier, because it gets you to your goal the quickest and most effective way. In my latest podcast episode you’ll learn: What types of financial questions do people most ask about? Is it worth the effort to create your retirement plan? What insights from experience have I learned about financial freedom? Can your house be your retirement plan? What is the good news and bad news about retirement planning? How does your retirement plan make you wealthier? What are the steps to creating your Retirement Plan? How can you think through the retirement lifestyle you will want? How does interactive retirement planning help you make your plan personal? How should you invest effectively to become financially free?
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Support Top Charities with Ed & Ann’s “Best Things First” Foundation
04/17/2025
Support Top Charities with Ed & Ann’s “Best Things First” Foundation
Have you ever wondered how much your donation really helps the poor? Or how much it really helps find cures? Which charities help the poor the most for each dollar donated? You can now donate to the most cost-effective charities in the world with Ed & Ann’s charitable foundation “Best Things First”. In my latest podcast episode you’ll learn: How did Ed & Ann get started looking for cost-effective charities? Why is a cost-effective charity important? How did they learn about GiveWell? Why did Ed & Ann create a foundation? How can you support the world’s top charities? Enjoy! Ed
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Celebrating the Life of Ann Hetram
04/09/2025
Celebrating the Life of Ann Hetram
I am heartbroken. My wife, life partner & business partner Ann Hetram passed away unexpectedly on Sunday, March 30. Ann was truly one of a kind — wise, intuitive, endlessly generous, and the heart of everything we built together. We shared our life, our work, our friends, and our dreams. We were together 35 years, and many years together 24/7, and I wouldn't have wanted it any other way. I’ve created this tribute — a YouTube video, podcast episode, and blog post to honour Ann’s incredible life. Our life together and what she means to me. Her unique qualities. Some of the excessively generous acts she has done. I call them “Ann’s Acts of Kindness”. If you have a story about Ann, your relationship with her, or you have an example of Ann’s Acts of Kindness, I want to hear these stories. They are my most treasured thoughts about Ann. If you want to share them at her Celebration of Life, please tell me so we can put you on the list. You could also just tell me at the reception, or email me the story so I have it forever. We will have a Celebration of Life reception in Ann’s honour on Thursday, April 17. The actual gathering to share stories about Ann is at 3 PM, followed by an informal reception until 8 PM. Bring your stories with Ann. It’s casual dress. Here’s a link to my special post about Ann: With love, Ed
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Can You Be Confident in the Stock Market (Updated)
03/21/2025
Can You Be Confident in the Stock Market (Updated)
Which is true? 1.The stock market is a gamble. Decent investment, but it may or may not make money for you. 2.The stock market is a reliable long-term investment. It should be the core of your long-term investments. To invest effectively for your future, it is vital to be confident in your investments. Here is the historical data to give you a clear picture of what long-term investors can expect. By the end, you’ll have a clearer answer to the big question: Is the stock market the best way to build wealth over time? This is an updated post with new insights. Here’s what I’ll cover: How does the investment industry see risk? How do financial planners see risk? What is the highest return asset class? Why does the stock market rise? What is the most reliable asset class after inflation? How large and how long are stock market declines? How long is “long-term”? What exactly is risk tolerance? How should long-term investors invest?
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How to Donate Effectively and Avoid Telemarketers - Interview with John Bromley, Founder & CEO of Charitable Impact
03/13/2025
How to Donate Effectively and Avoid Telemarketers - Interview with John Bromley, Founder & CEO of Charitable Impact
Last year, I did a video on How to Donate Effectively, where we explored the idea that one of the ultimate status symbols is creating your own charitable foundation—and how to make a real impact with your giving. In my latest video I interview John Bromley, the Founder and CEO of Charitable Impact, the platform we personally use to make giving easier and more effective. John has dedicated his career to helping Canadians maximize their impact through strategic giving. His company has proudly facilitated over $1.5 billion in donations, empowering tens of thousands of people to tap into their generosity, pursue their vision for change, and develop meaningful giving habits. Beyond his work in philanthropy, John is a two-time TEDx speaker, a recipient of Business in Vancouver’s 40 Under 40 award, a soccer coach, and a doting father of two. In this podcast episode you’ll discover: Why Charitable Impact was created. How Charitable Impact works for donors. Why open a personal charitable foundation? Donor-advised funds vs. private foundations. Should you involve your family in charitable giving? What happens to your foundation after you pass away? Does Charitable Impact help you find the right charity? Why donate? What is a proactive donor? Should you have a donation plan? Can others contribute to your foundation? The future of charitable giving. Biggest challenges & focus areas for charitable giving. What larger donors need to know. How to choose the right cause for your values.
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What’s New in Tax 2025
03/06/2025
What’s New in Tax 2025
Every year, tax rules change. For 2025 there are six main tax changes that you’ll want to know about. And there’s good news: two major uncertainties are finally gone! No more reporting requirements for "bare trusts"—saving many Canadians unnecessary paperwork and fees. The proposed capital gains tax hike? Likely off the table. In my latest podcast episode you’ll learn What are the 2 big uncertainties that are gone now? What are the 6 main tax changes for 2025? What is the new picture for saving for your first home? Enjoy! Ed
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Realizing You Somehow Became Wealthy
02/27/2025
Realizing You Somehow Became Wealthy
I often talk with people who realize—almost by surprise—that they’ve become wealthy. They never really thought of themselves as wealthy, but after years of saving and investing effectively, it hits them: I’m actually wealthy. And let me tell you—being wealthy feels different In my latest podcast episode, I talk about: How do you become wealthy slowly? How do you know if you are financially independent? How do you know if you are “wealthy”? How does the mind shift feel? What mind shifts usually happen? What are typical mind shifts about how you spend your money? What are typical mind shifts about weekends & free time? What are typical mind shifts about vacations? What are typical mind shifts about friends & family? What negative feelings sometimes happen? Does the mind shift start when you realize you’ll be wealthy in retirement? Rethinking your values as a wealthy person. What is your legacy? How do you want to be remembered?
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Retiring Right Before or During a Recession. Debunking “Sequence of Returns Risk” - Canadian Financial Summit 2024
02/20/2025
Retiring Right Before or During a Recession. Debunking “Sequence of Returns Risk” - Canadian Financial Summit 2024
Bloggers and advisors constantly warn about the “Sequence of Returns Risk”—the fear that retiring right before or during a market crash will drain your savings too quickly. This fear often leads retirees to make poor investment choices, resulting in: 🚨 Inferior portfolios 📉 Lower returns ❌ A less reliable retirement But how real is this risk? And do the conventional solutions—like investing in bonds or following the 4% Rule—actually work? Is it true that “sequence of returns risk” has been debunked for long-term equity investors? In my latest podcast episode you’ll learn What is “Sequence of Returns Risk”? What solutions are typically recommended? What is the actual risk of running out of money with a bad sequence of returns? Why don’t the typical solutions work? How long did it take to recover from the biggest crashes? How can you get the maximum reliable retirement income? What should you do if your risk tolerance is lower? What is “Your Personal Rule” for you to use instead of the “4% Rule”? What solution to “Sequence of Returns Risk” actually works? What dynamic spending rules are suggested by actuaries & advisors? What is Ed’s dynamic spending rule? How is it customized for you?
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New Study Supports 100% Equity Investing for Life – The Debate
02/13/2025
New Study Supports 100% Equity Investing for Life – The Debate
Recently, I posted a video “New Study Supports 100% Equity Investing for Life” that went semi-viral with 14,000 YouTube views & 1,000 podcast downloads. There is an interesting active debate mainly on YouTube, and a bit on my blog with a lot of comments and questions. Let’s look at them and join the debate. The evidence from the study to invest 100% in equities for life is certainly unconventional, so the comments revealed interesting insights. This is an important topic. I have many posts on my blog over almost 20 years about how much better your Financial Plan and retirement income are with a high equity allocation. I have posts about other studies, including my own. I believe people with a high enough risk tolerance who will stay invested through market crashes should invest 100% in equities. This is unconventional wisdom – but studies show it works! In my latest podcast episode and blog post you'll discover: What did the study actually say? What did most of the comments agree on? Does the study support 100% equities right through retirement? Won’t many people panic and sell? How does the recommendation of 67% international look for US vs. non-US investors? Do international stocks provide good diversification? Would this work in some time periods but not others? Would it work for narrower equity indexes, such as the NASDAQ? Is this study new? Isn’t the risk of running out of money in retirement similar for 100%, 80% & 60% equities? Isn’t it better to keep some cash?
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How to Easily Outperform Financial Advisors, Robo-Advisors & Index Investors (Canadian Financial Summit 2024)
01/23/2025
How to Easily Outperform Financial Advisors, Robo-Advisors & Index Investors (Canadian Financial Summit 2024)
Why do so many Canadians struggle to achieve financial freedom, even with a solid financial plan? Why do they retire with less than they hoped for, despite diligently saving and investing? The answer often boils down to two things: suboptimal investments and a misguided focus on risk. In my latest podcast episode, we’ll uncover why good investment performance is essential for your financial success and show you how to take control of your portfolio. We’ll also address common misconceptions about risk in the investment industry and uncover the secrets to thinking like a successful investor. You’ll learn: Why is good performance important for your life? What rate of return do you need to become financially independent? What are the 4 performance drags that reduce investment returns? What is the Asset Allocation Loss Ratio (AALR)? Why is it easy to outperform financial advisors? What is wrong with the investment industry definition of “risk”? Why is it easy to outperform robo-advisors? Why is it easy to outperform index investors? How can you learn to think properly about investing? What are the secrets to outperforming?
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7 Best Ideas to Optimize the Smith Manoeuvre (Canadian Financial Summit 2024)
01/16/2025
7 Best Ideas to Optimize the Smith Manoeuvre (Canadian Financial Summit 2024)
With its quirky name, the Smith Manoeuvre might sound unconventional, but it’s a strategy that truly works—when done by the right people, in the right way, over the long term. From crafting over 1,000 professional Financial Plans, I’ve seen firsthand how the Smith Manoeuvre can transform your finances, helping Canadians use their home equity to invest for their future without impacting their cash flow. When included as part of a comprehensive financial plan, this strategy can empower you to achieve the life you’ve always envisioned. But optimizing the Smith Manoeuvre requires more than just the basics—it’s about mastering the practical details and understanding how to maximize its benefits. In my latest podcast episode you’ll learn: What is the right reason to do the Smith Manoeuvre? How do you know if you are the right person for the Smith Manoeuvre? What is the right mortgage? How can you keep it 100% tax deductible? Which of the 8 Smith Manoeuvre strategies is right for you? Why is it critical that the Smith Manoeuvre is a long-term strategy? What is the right mindset to minimize the risk & maximize the benefits?
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New Study Supports 100% Equity Investing for Life
01/02/2025
New Study Supports 100% Equity Investing for Life
For years, conventional wisdom has preached the benefits of diversifying between stocks & bonds and gradually shifting to safer investments as we age. But what if these widely accepted strategies are fundamentally flawed? A newly published, high-quality study is flipping the script on traditional investment advice, making a compelling case for a 100% equity strategy throughout life. This research, backed by robust data from 39 developed countries and spanning long-term investment horizons, challenges two key conventional wisdoms: That savers should diversify between stocks and bonds. That young people should invest more heavily in stocks than when they are older. Instead, the study reveals that an all-equity portfolio—with a notable tilt toward international stocks—outperforms traditional stock-bond strategies in building wealth, ensuring reliable retirement income, and preserving capital. In my latest podcast episode you'll discover: Is this new study a high-quality study? What does the study prove? What is the effective way to diversify? In what 2 ways is diversifying with international stocks better than with bonds? Why should investors keep the same allocation to stocks as they get older? Is the all-equity strategy safe? Should we actually invest 67% into international stocks? What studies already on my blog agree with this study?
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Monthly Fixed Pay ETFs & Funds Are a Brain Fart!
12/19/2024
Monthly Fixed Pay ETFs & Funds Are a Brain Fart!
I talk with people all the time who have an ETF or mutual fund that pays a fixed monthly amount. In most cases, they misunderstand it. Most think they are receiving regular income—but chances are, it’s usually a brain fart. Many investors misunderstand how these monthly pay investments work. From covered call ETFs and dividend funds to monthly income funds, mortgage funds, T8/T6 mutual funds, and REITs, the mechanics can be confusing—and the implications even more so. In my latest podcast episode you’ll learn: Why are monthly pay ETFs and funds a brain fart? How do fixed monthly pay ETFs or funds work? Why is a monthly distribution not part of your rate of return? What is the difference between a distribution and a dividend? Why is a monthly distribution not new money? Why does a monthly distribution = Selling shares? Why does a reinvested distribution = No distribution? Why do covered call funds usually have lower returns but higher tax? Why are monthly pay ETFs/funds a problem for retirement income? Why are monthly pay ETFs/funds a problem for leverage investors? How can we get out of the Brain Fart? How can you perfect monthly pay funds? What are self-made dividends? Why are self-made dividends a perfect fit for your life?
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RRSP/RRIF Meltdown Strategies
12/05/2024
RRSP/RRIF Meltdown Strategies
Ever wondered how you can get the money out of your RRSP with a minimum of tax? RRSP/RRIF Meltdown Strategies can allow you to withdraw from your RRSP or RRIF and have very little income show on your tax return. However, there are some tricky complications, and these strategies are not for everyone. In my latest podcast episode you’ll learn: How does the RRSP/RRIF meltdown strategy help you withdraw from your RRSP with minimum tax? Why should it be called the RRIF Meltdown Strategy, not the RRSP Meltdown Strategy? Why are self-made dividends the secret to an effective RRIF Meltdown Strategy? What are the 4 tricky complications? Why does the traditional RRIF Meltdown not melt your RRIF down? What is the problem with starting it before you retire? What is the problem with starting it when you retire? What are the 3 main RRIF Meltdown Strategies? What are the 6 steps to implementing the RRSP/RRIF Meltdown Strategy effectively?
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How Did the Wealthy Get Wealthy? Can I Copy Them?
11/28/2024
How Did the Wealthy Get Wealthy? Can I Copy Them?
In a recent podcast episode, I talked about who the poor & wealthy are and how did they get there. Today, I’m diving deeper into one crucial aspect: how the wealthy became wealthy. Can their strategies work for you? Over the years, I’ve seen the full financial picture of thousands of Canadians and read countless studies on wealth building. While my clients are generally higher-income, growth-focused individuals who work with a financial plan, I’ve also spoken to countless others—through this blog, in person, and within my network of wealthy individuals. These insights have given me a clear understanding of who achieves financial success and the steps they took to get there. In my latest podcast episode you’ll learn: How much do you need to be “wealthy”? What types of people have high net worth? What is a “productive growth asset”? Do you have to borrow to invest to become wealthy? What does the Lifecycle Investing study tell us about growing wealth? How can you copy their methods and become wealthy?
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Lifecycle Investing: The Ultimate Strategy for Younger People – An Example
11/21/2024
Lifecycle Investing: The Ultimate Strategy for Younger People – An Example
I often get asked about Lifecycle Investing and how to implement it. If you're under 40 and saving to achieve financial independence, this might be the most powerful strategy you’ll ever learn. Lifecycle Investing has proven itself consistently over the last 150 years, increasing portfolios at retirement by an average of 63%. It has worked 100% of the time, and its success lies in addressing one of your biggest financial risks: “Last Decade Risk.” However, it’s not for everyone. This strategy often involves borrowing to invest and maintaining a high equity allocation during certain phases of your life. Think of it as a concept rather than something to execute literally. Understanding it can completely transform how you manage your money. Get your Financial Plan first. Lifecycle Investing involves thinking through the best way for you to do it over the next few decades. Creating your Financial Plan is an interactive process to help you think through all your various life options. To understand Lifecycle Investing, first you need to understand what is wrong with the conventional method of “bit-by-bit” saving. An example is the best way to understand it. In my latest podcast episode you’ll learn: What is Lifecycle Investing? Why has it increased portfolios 100% of the time over the last 150 years by an average of 63%? What is “Last Decade Risk”? How does a bad decade just before retirement impact your savings? What’s wrong with conventional “bit-by-bit” saving? Why do returns before age 45 have so little impact on your life? How does Lifecycle Investing finance your retirement like a mortgage finances your home? What does it mean to diversify across time? What’s an example of Lifecycle Investing compared to traditional saving? How do you adapt your asset allocation for Lifecycle Investing? How can you implement it? How can it work for those who want maximum growth? Why is a financial plan crucial before starting Lifecycle Investing?
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Who Are the Wealthy and How Did They Get Rich?
11/07/2024
Who Are the Wealthy and How Did They Get Rich?
As a financial planner, I’ve had a unique view into the full financial picture of thousands of Canadians and have read countless studies. My experience spans clients of varying financial backgrounds, as well as countless conversations with readers of my blog, friends, and acquaintances. Although our clients may not represent the entire population—they tend to have higher incomes, are growth-focused, and always work with a clear plan—my broad exposure has helped me form a solid understanding of what wealth really is and the common ways people achieve it. In my latest podcast episode I’ll cover some key questions that get to the heart of wealth. You’ll learn: How much do you need to be “wealthy”? What do media stories get wrong about the wealthy and the poor? Why are people with high incomes different from people with high net worth? Is a high income important to become wealthy? Do most wealthy people inherit their wealth, or do they grow it themselves? What types of people have high net worth? What does the Lifecycle Investing study tell us about growing wealth? How can you become wealthy?
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Your FREE passes: See my talks at the #1 online event – Canadian Financial Summit 2024
10/17/2024
Your FREE passes: See my talks at the #1 online event – Canadian Financial Summit 2024
The online Canadian Financial Summit is coming up the week of October 25-27. It’s the #1 personal finance event of the year. As a reader of the Unconventional Wisdom blog, here are your passes for a limited time. With these passes, you can watch all the talks for 48 hours. I’ll be one of the speakers again this year with three talks (see below), and I’ll be joined by over 35 other Canadian personal finance and investing experts such as Rob Carrick from the Globe & Mail and Ellen Roseman former Toronto Star columnist. Where else will you find all these experts in one place? With your pass, each morning, all the talks for the day will be available to you for 2 days. If you want to access them forever, you can purchase an All Access Pass for $99. My three talks are: Friday, October 25: 7 Best Ideas to Optimize the Smith Manoeuvre The Smith Manoeuvre allows you to convert interest on your mortgage to tax-deductible over time and save for your retirement without using your cash flow, but not many people know about it. Ed Rempel is a fee-for-service financial planner and tax accountant with the best ideas on how to optimize the Smith Manoeuvre. Saturday, October 26: How to Easily Outperform Financial Advisors, Robo-Advisors & Index Investors Many Canadians use financial advisors, robo advisors or invest on their own with index funds. However, there might be an easy way to outperform them all. Ed Rempel is a fee-for-service financial planner and tax accountant with how this is possible. Sunday, October 27: Retiring Right Before, or during, a recession – Debunking Sequence of Returns Risk Many older Canadians fear retiring right before a recession. Ed Rempel, a fee-for-service financial planner and tax accountant who will discuss how you can create a reliable and maximum retirement income for yourself for your golden years. Some more info about the talks: Watch my 3 talks any time in a 2-day period for FREE. It’s 100% online so you can stream all the talks right from your computer/tablet/phone. You don’t need to go anywhere or buy anything. You can forward this to any of your friends to give them a FREE ticket. See you at the Summit! Here is a to get your passes. Ed
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Tax Brackets for Parents & Seniors Are Way Different Than You Think!
10/10/2024
Tax Brackets for Parents & Seniors Are Way Different Than You Think!
Tax brackets for parents and seniors are way different than you think. This might be a real eye opener for some people because I think a lot of people that do some basic tax planning are doing it all wrong. In my latest podcast episode I'm going to give you a tax planning made easy using tax brackets. I'm going to show you how, some basics of tax brackets, and briefly how tax planning is done, so you can get the concept. Then we're going to talk about why tax brackets for parents and seniors are way different than you think - and how this completely changes tax planning. You’ll learn: Tax planning made easy using tax brackets. Why are tax brackets for parents way different? Why is the CCB Clawback a game changer for your tax planning? What are the actual effective tax brackets for parents? Why do parents benefit more from RRSP contributions than single people? Why are tax brackets for seniors way different? What are the three main clawbacks on seniors? What are the actual effective tax brackets for seniors? How can you plan for your retirement income to be taxed at only 20%? When is a TFSA and RRSP better for you? How does a financial plan become the GPS for your life?
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Do You Need Savings in Addition to a Government Pension Like OMERS?
10/03/2024
Do You Need Savings in Addition to a Government Pension Like OMERS?
When planning for retirement, many Canadians rely on a government pension like OMERS (Ontario Municipal Employees Retirement System) as their foundation. Do you need savings in addition to your government pension to maintain the lifestyle you want? A buddy called me from his car and said, “I’m driving. Will I get to my destination on time?” I asked, “Where are you going and where are you now?” It’s the same with the question of whether retiring with just your pension is enough. Well it depends on your lifestyle, your goals, and whether you want the freedom to enjoy big-ticket items, like vacations or regular nice dinners. The answer depends on your vision of retirement. If your goal is to replace 70-80% of your working income, you’ll need to fill the gap between your pension and that target with personal investments like RRSPs, TFSAs, or non-registered savings. In my latest podcast episode, you’ll see examples of people with different investment setups to help you discover what’s right for you. You’ll learn: What is the formula to know how much your government pension will be? What is the rule of thumb for your pension with 30 years service? How much do you need to retire with the lifestyle you want? 10 examples of a retirement plan with a full pension. Do you need to invest more conservatively after you retire? How does a Financial Plan become the GPS for your life?
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Dividend Investing Perfected with Self-Made Dividends (Canadian Financial Summit 2023)
09/26/2024
Dividend Investing Perfected with Self-Made Dividends (Canadian Financial Summit 2023)
In the vast landscape of personal finance, dividend investing has carved out a significant niche. Whether you're browsing through countless blogs or hearing investment advisors champion its benefits, it’s clear that dividend investing is a popular choice, especially with the FIRE (Financial Independence, Retire Early) community. However, a closer look reveals that almost all the advantages claimed for dividend investing are not actually true. In this YouTube video with Barry Choi, we’ll fact-check the advantages of dividend investing, explain how it is a brain fart, and introduce an alternative that is better in every way: Self-Made Dividends. You’ll learn: Why is dividend investing so popular today? What are the advantages of dividend investing? Why is tax on dividends a weird formula? Fact Check: Are the advantages of dividends true? What are the problems with dividend investing? How can you perfect dividend investing? What are self-made dividends? How are self-made dividends taxed? Head-to- head: Self-made dividends vs. ordinary dividends. Life of self-made dividend investor vs. ordinary dividend investor. Why are self-made dividends better than ordinary dividends in every way? Why are self-made dividends a perfect fit for your life?
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Smith Manoeuvre In A Financial Plan & The New OSFI Rules (Canadian Financial Summit 2023)
09/19/2024
Smith Manoeuvre In A Financial Plan & The New OSFI Rules (Canadian Financial Summit 2023)
The Smith Manoeuvre is an efficient strategy to use your home equity to invest for your future without using your cash flow, while converting your mortgage into a tax-deductible debt. If you do the Smith Manoeuvre, understanding the new OSFI mortgage rules is crucial. In this podcast episode with Barry Choi, I break down what the changes mean and how they impact your strategy. You’ll learn: What is the Smith Manoeuvre? What are the new OSFI mortgage rules? How will they affect the Smith Manoeuvre? What is the formula in the rules? Examples of the effect. Effect on monthly investment. Best & worst-case examples. How do you manage the process? How to minimize or eliminate the effect. Effect on Smith Manoeuvre vs. TFSA decision?
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