Millennial Money Canada

Guillaume Girard & Sam Lichtman
  • 5.0 (17)
  • INVESTING

Welcome to the Millennial Money Canada Podcast. A podcast to elevate your financial literacy so that you can live well, build wealth, give generously, and leave a legacy that you are proud of. We are your hosts, Guillaume Girard and Sam Lichtman, Financial Planners at Millen Wealth Advisors. Millen Wealth Advisors offers portfolio management solutions through Portfolio Strategies Corporation, which is regulated by the Canadian Investment Regulatory Organization (CIRO) and is a member of the Canadian Investor Protection Fund (CIPF). Millen Wealth Advisors offers insurance solutions through PPI Solutions. Visit our website at https://www.mwadvisors.ca/ to learn more about how we can assist you. Disclaimer: This is not intended as investment advice. All investment, insurance, and financial planning conversations are meant as general information only and should not be considered personal advice. Always seek professional advice.

  1. 2025-11-28

    Ep.030: CRM 3 Is About to Change Everything: The Fee Shock No One Is Ready For

    Summary In this episode, Guillaume and Sam discuss the upcoming changes to fee disclosure under CRM3, which will significantly impact how Canadians view their investment fees. They explore the implications of these changes, the importance of transparency in building trust between clients and advisors, and the potential for clients to question the value they receive for the fees they pay. The conversation also touches on the role of segregated funds, the future of financial advisory services, and the importance of understanding investment philosophy for peace of mind. Topics Covered in this Episode 00:00 Introduction to CRM3 and Its Importance 02:01 Understanding Fee Disclosure Changes 07:05 The Impact of CRM3 on Investors 12:45 Transparency and Trust in Financial Advisory 16:21 Segregated Funds and Their Reporting 22:06 Evaluating Fees and Value in Financial Services 30:59 The Future of Financial Planning 34:00 Understanding Fees and Value in Investments 39:11 The Importance of Trust in Financial Advisory 50:39 Investment Philosophy and Client Peace of Mind Millen Wealth Advisors Visit our Website: https://www.mwadvisors.ca/ Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast Follow Guillaume on Social Media Guillaume’s Instagram: https://www.instagram.com/financialplannergui/ Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/ Follow Sam on Social Media Sam’s TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Sam’s LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Keywords CRM3, fee disclosure, financial planning, investment fees, transparency, trust, financial advisors, segregated funds, client awareness, investment philosophy

    56 min

  2. 2025-11-06

    Ep.029: From Burnout to Balance: How Financial Literacy Can Help You Thrive

    Summary In this episode, Guillaume Girard interviews Dr. Christian Wigmore, founder of BudgetYourMD, about the financial challenges physicians face and the importance of financial literacy. They explore Dr. Wigmore's journey to becoming a physician, the pressures of medical school debt, and the impact of lifestyle inflation on financial decisions. The conversation emphasizes the need for better financial education for medical students and the role of BudgetYourMD in empowering future physicians to manage their finances effectively and avoid burnout.   Topics Covered in this Episode 00:00 The Journey to Medicine 04:20 Exploring Financial Insights 08:10 The Role of a Family Doctor 12:27 Deciding on a Medical Specialty 14:08 Financial Literacy Challenges for Physicians 16:27 Managing Debt and Lifestyle Inflation 19:18 Navigating Financial Advice and Insurance 22:17 The Evolution of Financial Planning Models 29:30 The Challenge of Active Fund Management 30:49 Introducing BudgeterMD: A Passion Project 32:12 Addressing Financial Literacy in Medicine 34:45 Services Offered by BudgeterMD 36:53 Feedback and Community Engagement 39:07 The Importance of Open Conversations About Money 41:55 Future Vision for BudgeterMD 44:30 The Cashflow Clinic: A Unique Approach 45:37 Exploring Podcasting as a Medium 48:39 Final Thoughts on Financial Literacy   Budget Your MD Website: https://www.budgetyourmd.ca/ LinkedIn: https://www.linkedin.com/in/christianwigmore/?originalSubdomain=ca   Millen Wealth Advisors Visit our Website: https://www.mwadvisors.ca/   Follow Guillaume on Social Media Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast Guillaume’s Instagram: https://www.instagram.com/financialplannergui/ Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/   Keywords Financial literacy, physicians, medical school, budgeting, financial planning, lifestyle inflation, debt management, financial advice, burnout, Budget

    53 min

  3. 2025-10-16

    Ep.028: The Downsides of Using Family Trusts

    Summary In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman, along with guest Mohammed Al-khooly, discuss various financial topics ranging from personal achievements in ultra marathons to misconceptions about the Canadian tax system, particularly regarding inheritance taxes. They delve into the complexities of family trusts, exploring their benefits and drawbacks, and discuss when they are appropriate for individuals and families. The conversation also touches on the importance of financial planning and the implications of prenuptial agreements in relation to trusts.   Topics Covered in this Episode 00:00 Introduction and Personal Accomplishments 06:12 Understanding Canadian Tax Misconceptions 15:26 Exploring Family Trusts: Basics and Benefits 32:40 Navigating Capital Gains and Business Sales 33:08 Competing Interests in Family Business Planning 34:29 Understanding Trusts and Associated Corporations 36:00 The Complexity of Trusts in Family Dynamics 39:25 When Trusts Are Not the Right Fit 40:34 Trusts for Special Circumstances 41:53 The Suitability of Trusts in Financial Planning 42:42 Professional Perspectives on Trust Recommendations 47:23 Trusts and Divorce Protection 49:53 Prenups vs. Trusts: A Personal Perspective 55:46 Investing in Relationships vs. Legal Protections   Millen Wealth Advisors Website: https://www.mwadvisors.ca/ Co-Pilot Tax Website: https://copilottax.ca/ Canadian Tax Guy: https://x.com/canadataxguy?lang=en   Follow us on Social Media Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast Sam’s TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Sam’s LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Guillaume’s Instagram: https://www.instagram.com/financialplannergui/ Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/   Keywords Financial planning, tax system, family trusts, estate planning, ultra marathons, Canadian tax misconceptions, wealth management, inheritance tax, personal finance, financial education

    1 hr

  4. 2025-10-02

    Ep.027: Paying Dividends To Family Members (TOSI)

    Summary In this episode, the hosts discuss their experiences at a recent portfolio strategies conference, sharing insights on investment strategies and the importance of having a defined investment philosophy. They delve into the complexities of the Tax on Split Income (TOSI) rules, explaining how these regulations impact business owners and their ability to pay dividends to family members. The conversation highlights the need for careful tax planning and understanding of the rules to navigate potential pitfalls. The episode concludes with a discussion on the importance of knowing the intricacies of investment products and the trade-offs involved in financial planning. Topics Covered in this Episode 00:00 Conference Insights and Networking 12:33 Understanding TOSI: Tax on Split Income 24:42 Navigating Dividend Payments and Family Structures 24:44 Understanding Income Splitting Rules 28:47 Exploring Non-Resident Shareholder Implications 31:30 Navigating Tax Risks with Non-Resident Corporations 35:32 Client Engagement and Tax Knowledge 38:42 The Complexity of Tax Compliance 43:30 Investment Knowledge and Client Understanding   Millen Wealth Advisors Website: https://www.mwadvisors.ca/ Register for our Free Financial Planning Masterclass for Business Owners: https://event.webinarjam.com/channel/Financialmaster   Co-Pilot Tax Website: https://copilottax.ca/ Canadian Tax Guy: https://x.com/canadataxguy?lang=en   Follow us on Social Media Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast Sam’s TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Sam’s LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Guillaume’s Instagram: https://www.instagram.com/financialplannergui/ Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/   Keywords TOSI, Tax on Split Income, investment strategies, financial planning, tax planning, portfolio management, business income, dividends, family business, tax risk

    52 min

  5. 2025-09-18

    Ep.026: Income Splitting Strategies for Business Owners

    Summary In this episode, the hosts discuss various strategies for income splitting, focusing on tax efficiency for business owners. They explore the implications of salary versus dividends, the use of capital dividends, and the importance of understanding attribution rules. The conversation emphasizes the need for holistic financial planning and the potential benefits of utilizing tools like RRSPs and RESPs for effective income splitting.   Topics Covered in this Episode 00:00 Introduction to the New Format 02:21 The Importance of Holistic Tax Planning 04:39 Income Splitting Strategies 11:34 Tax Risks in Income Splitting 17:21 Exploring Tax-Efficient Dividend Strategies 20:15 Balancing Immediate Costs and Future Growth 21:22 The Importance of Long-Term Financial Planning 22:44 Salary vs. Dividend: Making the Right Choice 24:36 Understanding Tax Implications for Business Owners 26:42 The Role of Income Splitting in Financial Strategy 30:12 Basic vs. Advanced Income Splitting Strategies 31:14 Utilizing RESPs for Tax-Efficient Income Splitting 32:40 Creative Strategies for Spousal RRSPs 38:57 Navigating Attribution Rules in Income Splitting 41:10 Understanding Anti-Avoidance Rules in Tax Strategies   Co-Pilot Tax Website: https://copilottax.ca/ Canadian Tax Guy: https://x.com/canadataxguy?lang=en   Millen Wealth Advisors Website: https://www.mwadvisors.ca/ Register for our Free Financial Planning Masterclass for Business Owners: https://event.webinarjam.com/channel/Financialmaster   Follow us on Social Media Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast Sam’s TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Sam’s LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Guillaume’s Instagram: https://www.instagram.com/financialplannergui/ Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/   Keywords Income splitting, tax efficiency, salary vs dividends, capital dividends, attribution rules, financial planning, tax strategies, Canadian tax, RRSP, RESP

    43 min

  6. 2025-09-04

    Ep.025: Tax Considerations with Real Estate

    Summary In this episode, the hosts discuss the partnership between Copilot Tax and Millen Wealth Advisors, focusing on how this collaboration will enhance client services. They delve into the complexities of real estate investments, including tax considerations when buying, renting, and selling properties. The conversation highlights the importance of financial planning, the implications of depreciation, and the legal aspects of property ownership. The hosts emphasize the need for a cohesive approach among financial advisors to provide clients with comprehensive guidance.   Topics Covered in this Episode 00:00 Introduction and Partnership Announcement 02:53 Exploring Real Estate Tax Considerations 06:02 Buying Real Estate: Key Tax Issues 09:01 Understanding Rental Properties and Tax Implications 12:10 The Importance of Financial Planning in Real Estate 14:57 Depreciation: Benefits and Risks 17:56 Legal and Liability Considerations in Real Estate 20:58 Structuring Real Estate Investments: Personal vs Corporate 24:11 Final Thoughts and Key Takeaways   Co-Pilot Tax Website: https://copilottax.ca/   Millen Wealth Advisors Website: https://www.mwadvisors.ca/ Register for our Free Financial Planning Masterclass for Business Owners: https://event.webinarjam.com/channel/Financialmaster Follow us on Social Media Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast Sam’s TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Sam’s LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Guillaume’s Instagram: https://www.instagram.com/financialplannergui/ Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/   Keywords Real estate, tax considerations, financial planning, depreciation, rental properties, investment strategies, partnership, liability, home buyers, tax advice

    37 min

  7. 2025-08-14

    Ep.024: Family Trust, Holding Co & Succession Planning with Amanda Doucette

    Summary In this episode of the Millennial Money Canada podcast, host Guillaume Girard speaks with Amanda Doucette, a tax lawyer specializing in estate and succession planning. They discuss Amanda's journey into tax law, the importance of continuous learning, and the complexities of tax strategies for business owners. Amanda emphasizes the need for financial awareness, the common mistakes made in tax planning, and the role of family trusts in estate planning. The conversation also touches on the importance of advocacy in tax law and the need for effective communication in family dynamics regarding financial matters.   Topics Covered in this Episode 00:00 The Journey to Tax Law 04:40 Evolving Clientele and Complexities 07:40 The Importance of Continuous Learning 10:52 Approaches to Tax Law 13:42 The Motivation Behind the Tax Check Podcast 16:42 Common Mistakes of Business Owners 19:30 Understanding Financial Numbers 22:50 Transitioning from Sole Proprietorship to Corporation 25:39 The Role of Advisors in Business Growth 28:43 Planning for Future Success 31:47 Estate Planning and Succession Strategies 34:15 Navigating Estate Planning and Tax Changes 38:59 Understanding Family Trusts and Their Implications 46:28 Flexibility in Estate Planning: Balancing Goals and Tax 52:45 Common Pitfalls in Estate Planning Strategies 55:06 Advocacy in Tax Law: Empowering Clients and Communities   Amanda Doucette Website: https://www.shtb-law.com/lawyers/amanda-s-a-doucette LinkedIn: https://www.linkedin.com/in/amandasadoucette/ Instagram: https://www.instagram.com/tax.chick/?hl=en Podcast: https://thetaxchickpodcast.transistor.fm/   Millen Wealth Advisors Visit our Website: https://www.mwadvisors.ca/ Register for our Free Financial Planning Masterclass for Business Owners: https://event.webinarjam.com/channel/Financialmaster   Follow Sam and Guillaume on Social Media Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast Sam’s TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Sam’s LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Guillaume’s Instagram: https://www.instagram.com/financialplannergui/ Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/   Keywords Tax law, estate planning, succession planning, financial literacy, tax advocacy, business strategies, family trusts, tax mistakes, financial awareness, corporate structures

    1h 2m

  8. 2025-05-29

    Ep.023: Costly Tax and Investment Planning Mistakes Made By Business Owners

    Summary In this episode, Guillaume Girard and Sam Lichtman discuss the four most common mistakes made by business owners, focusing on the implications of salary versus dividends, the importance of notional accounts, and the benefits of leveraging the lifetime capital gains exemption. They also explore investment strategies for business owners to optimize their financial growth and tax efficiency.   Topics Covered in this Episode 00:00 Introduction to Business Owner Mistakes 11:15 Understanding Salary vs. Dividend Payments 25:18 Utilizing Notional Accounts for Tax Efficiency 31:08 Tax Implications of Foreign Income 36:42 Understanding the Capital Dividend Account 43:39 Lifetime Capital Gains Exemption Explained 55:45 Common Investment Mistakes in Corporations   Work with Millen Wealth Advisors Book an intro meeting: https://www.mwadvisors.ca/ Self-paced tax and investing course for business owners: https://courses.mwadvisors.ca/   Follow Sam and Guillaume on Social Media Podcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcast Sam’s TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=en Sam’s LinkedIn: https://www.linkedin.com/in/sam-lichtman/ Guillaume’s Instagram: https://www.instagram.com/financialplannergui/ Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/   Keywords business mistakes, salary vs dividend, notional accounts, lifetime capital gains exemption, investment strategies, financial planning, corporate structure, tax efficiency, retirement planning, wealth management

    1h 1m
See All (32)

5
out of 5
17 Ratings

About

Welcome to the Millennial Money Canada Podcast. A podcast to elevate your financial literacy so that you can live well, build wealth, give generously, and leave a legacy that you are proud of. We are your hosts, Guillaume Girard and Sam Lichtman, Financial Planners at Millen Wealth Advisors. Millen Wealth Advisors offers portfolio management solutions through Portfolio Strategies Corporation, which is regulated by the Canadian Investment Regulatory Organization (CIRO) and is a member of the Canadian Investor Protection Fund (CIPF). Millen Wealth Advisors offers insurance solutions through PPI Solutions. Visit our website at https://www.mwadvisors.ca/ to learn more about how we can assist you. Disclaimer: This is not intended as investment advice. All investment, insurance, and financial planning conversations are meant as general information only and should not be considered personal advice. Always seek professional advice.

Information

  • Creator
    Guillaume Girard & Sam Lichtman
  • Years Active
    2021 - 2025
  • Episodes
    32
  • Rating
    Clean
  • Copyright
    © Copyright 2024 All rights reserved.
  • Show Website
    Millennial Money Canada