The Canadian Money Roadmap Evan Neufeld, CFP®

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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TAX CHANGES: Budget 2024

XEQT vs VEQT. Which ETF is better?

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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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TAX CHANGES: Budget 2024

XEQT vs VEQT. Which ETF is better?

Connect With Evan

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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TAX CHANGES: Budget 2024

XEQT vs VEQT. Which ETF is better?

Connect With Evan

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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TAX CHANGES: Budget 2024

XEQT vs VEQT. Which ETF is better?

Connect With Evan

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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TAX CHANGES: Budget 2024

XEQT vs VEQT. Which ETF is better?

Connect With Evan

In this week's episode we walk through the two phases of your RRSP: accumulation (RRSP) and spending (RRIF). 



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TAX CHANGES: Budget 2024

XEQT vs VEQT. Which ETF is better?

Connect With Evan