The Canadian Money Roadmap Evan Neufeld, CFP®

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Gain a clear understanding of trusts and how they can be leveraged for estate planning with tax expert Amanda Doucette, my insightful guest and fellow podcaster from The Tax Chick. We take the mystery out of trusts, explaining the three certainties - intention, subject matter, and beneficiaries - that are essential to their formation. Whether you're considering setting up a formal or informal trust, this episode illuminates the importance of precise documentation and the implications of each type.

The landscape of trust taxation is ever-evolving, and we're here to guide you through the complexities. We discuss the changes that have affected testamentary trusts taxation, including the shift to the highest marginal rates and the critical 21-year "birthday" that could trigger a significant tax event. As we explore the cultural perceptions surrounding "trust fund kids," we clarify the realities and debunk myths associated with trust beneficiaries. This episode offers a practical look into how trusts can provide for future generations while meeting your intended objectives.

Dive into the roles and responsibilities that trustees bear, as this episode highlights the fiduciary duties vital to the proper management of a trust. We address the intricacies of trust taxation and how integrating income from different sources can affect your estate planning. Whether you're faced with a beneficiary's milestone birthday or adapting to new tax regulations, this episode is packed with insights to ensure you're well-informed and prepared to engage with your advisors effectively. Join Amanda and me as we equip you with the knowledge to handle your trust-related financial planning with confidence.
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55 Year old couple wants to retire with $500,000

XEQT vs VEQT. Which ETF is better?

How to stress test your retirement plan (For Free)

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On this week's episode, I was delighted to be a guest on Amanda Doucette's The Tax Chick Podcast to talk about all things Tax-Free Savings Accounts (TFSAs).

 As we delve into the nuanced world of TFSAs, you'll gain a clearer understanding of how these accounts can be much more than a place to stash your cash. Get the scoop on navigating over-contributions and withdrawals, and learn the critical aspects of setting up beneficiary designations and successor holder arrangements—vital knowledge for polishing your estate planning.

This episode isn't just about saving; it's about strategizing for wealth accumulation. We break down the best practices for leveraging your TFSA for long-term investments and dissect the all-important recontribution rule. I'll guide you through the minefield of contribution limits and the confusion that can arise from registered versus non-registered investments within your TFSA. Savvy financial planning can be complex, but with our insights, you'll be well-equipped to make informed decisions without attracting unintended attention from Canada's tax authorities.

Lastly, we shine a light on the profound impact TFSAs can have when it comes to passing on your wealth. Discover the seamless transfer benefits that come with naming a spouse or common-law partner as a successor holder, and consider the more intricate scenarios that arise with other beneficiaries.

Stay tuned for Amanda's appearance on  next week's episode as we expand our discussion to the world of trusts.

Listen to The Tax Chick Podcast Here
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55 Year old couple wants to retire with $500,000

XEQT vs VEQT. Which ETF is better?

How to stress test your retirement plan (For Free)

Connect With Evan

Send Evan a Text Message
Could the financial strategies that appear flawless on paper be leading us astray in the real world? We're peeling back the layers of investment principles to reveal why some inefficiencies might just be your portfolio's best friends. Taking a page from Morgan Housel's "Same as Ever: A Guide to What Never Changes," we delve into the unexpected virtues of financial buffers and the fallacy that cost always equates to value. Discover how the pandemic's strain on just-in-time manufacturing shines a light on the need for slack in our systems, and why the presence of an emergency fund during economic highs could save you during the lows. Plus, we discuss the underrated advantages of investment advisors, challenging the penny-pinching mindset to embrace quality that pays off in the long run.

Then, we shift gears to a provocative study that upends conventional retirement planning wisdom—should you stockpile equities all the way to your golden years? We dissect the enticing, yet nerve-wracking notion of an all-equity portfolio and confront the harsh truths about our own risk tolerances and financial aspirations. It's not just about the potential gains; it's the psychological rollercoaster and the necessity for a tailored asset mix that fits like a glove. As I advocate for a well-rounded investment strategy, consider this your invitation to explore how aligning your portfolio with your personal narrative could be the smartest financial move you make. Join us as we navigate through the complexities of balancing risk and reward, and crafting a financial future that doesn't just look good on paper, but feels right in your gut.
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55 Year old couple wants to retire with $500,000

XEQT vs VEQT. Which ETF is better?

How to stress test your retirement plan (For Free)

Connect With Evan

Send Evan a Text Message
This week I'm joined by Mark McGrath as we dig into segregated funds. These investment vehicles blend mutual funds with insurance and offer unique guarantees but….. the benefits to investors are less clear. 

We delve into fees, performance, guarantees and other pros and cons. 

We also examine the human side, critiquing sales practices and exploring seg funds in estate planning. 

Whether you're a seasoned investor or just starting out, this episode provides essential guidance for informed decision-making in the Canadian investment landscape.


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55 Year old couple wants to retire with $500,000

XEQT vs VEQT. Which ETF is better?

How to stress test your retirement plan (For Free)

Connect With Evan

Send Evan a Text Message
The stock market has looked great recently! Is it time to take some money off the table?

In this episode, I walk you through the considerations you need to make to decide whether it is time to sell or stay the course.
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55 Year old couple wants to retire with $500,000

XEQT vs VEQT. Which ETF is better?

How to stress test your retirement plan (For Free)

Connect With Evan

Send Evan a Text Message
This week, I'm tackling a few topics that were popular on Reddit over the last month. 

1. What should you use for return assumptions in your planning?

2. Becoming a TFSA multi-millionaire

3. What should be your priority after building your first $100,000

**For a more in-depth look at expected returns, check out the recent  Rational Reminder Podcast episode on the topic
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55 Year old couple wants to retire with $500,000

XEQT vs VEQT. Which ETF is better?

How to stress test your retirement plan (For Free)

Connect With Evan