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Financial literacy is not emphasized enough for professionals during training, leaving many unprepared as they begin their careers. The topics covered in beyond MD apply to all professionals, including medical students/residents and practicing physicians. This podcast is led by radiologist Dr. Yatin Chadha and guided by expert analysis. Each episode, Yatin interviews accountants, lawyers, brokers, and advisors to heighten awareness on important topics, such as professional corporations, hold ...
 
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I thought I was alone like Wolverine. But I found another physician mutant willing to discuss personal finance in healthcare. Our lives may be in danger now as the rest of the medical community want to lock us up or rehabilitate us. But Yatin was courageous enough to expose himself as well. We are following our dream of educating the masses and hop…
 
In this episode I host Amanda Doucette, TEP. Amanda is a tax lawyer & founder of the Tax Chick Podcast and Blog, which are wonderful resources for anyone wanting to learn more about tax and estate planning. Discussion points: - when to start estate planning (8;35) - essential documents (11:12) - durable vs springing power of attorney (14:05) - POA:…
 
Canadian homeowners are somewhat disadvantaged in comparison to our American neighbours because we cannot right off the mortgage interest. We also think of debt in 1 (only one) way. We are taught this by our parents, cousins, neighbours, and our dog. But after centuries of doing it 1 way, we have not improved our overall financial security. There m…
 
100% of my colleagues have accountants. 99% of my colleagues are not aware of private individual pension plans. What a huge disconnect!! And 100% of the 99% are also obviously not aware of the Retirement Compensation Arrangement (RCA). It is one of the best kept secret in personal finance. Incorporated individuals should learn about this solution a…
 
This is another very polarizing topic among incorporated healthcare professionals. Accountants and advisors favor one or the other. The truth is probably in the middle (as always). Listen for yourself and see which one you prefer. By the end of these 2 episodes, you will find out which one I prefer (for a reason that no accountants are aware of). P…
 
This is another very polarizing topic among incorporated healthcare professionals. Accountants and advisors favor one or the other. The truth is probably in the middle (as always). Listen for yourself and see which one you prefer. By the end of these 2 episodes, you will find out which one I prefer (for a reason that no accountants are aware of). P…
 
I'm thrilled to have Dr. Wing Lim join me for this episode. Wing has achieved incredible personal, professional, and financial success. One of his impressive accomplishments is co-developing the Synergy Wellness Centre in Alberta, which provides care for more than 500,000 patients annually. We discuss the challenges of medicine, financial mistakes,…
 
Everyone knows how buys we are. You know how busy you are. But you also fancy investing in real-estate (not just the REITs stuff)! Can we do it? Hell yeah! If we can save someone life by operating on a brain or a heart, perform a LP with eyes closed, or treat complex mental health illnesses, we can be a real-estate investor. And it does not even ta…
 
Thank you for listening to my second ever solo episode! Today I discuss my perspective on what's going on in the world around us (inflation, car prices, interest rates) and touch on key points from recent episodes. Discussion points: - why are (used) car prices so high, what happens from here, impact (2:48) - interest rates: investigating the past …
 
Everyone knows how busy we are. You know how busy you are. But you also fancy investing in real-estate (not just the REITs stuff)! Can we do it? Hell yeah! If we can save someone life by operating on a brain or a heart, perform a LP with eyes closed, or treat complex mental health illnesses, we can be a real-estate investor. And it does not even ta…
 
Most of us do not truly understand life insurance products. It is something takes a lot of time to learn and understand. The world of insurance products is vast and creative. There are many ways to purchase a life policy (even a very large policy). Have you heard of "mortgaging" one? If not, then you should listen here. Please leave your comments a…
 
Ali Spinner (CPA, CA, TEP) is back! The topic today is Holding Companies. Ali is a partner in tax at Crowe Soberman LLP & has more than 20 years of experience in personal and corporate tax matters. Ali can be reached at Alexandra.spinner@crowesoberman.com We discuss: - Holding company - what is it, rationale (5:00) - Rationale for protecting invest…
 
There are many advisors in the financial industry. As healthcare professionals, we rely on them to give us relevant advice to achieve our financial goals. We obviously do not know it all and we never will. So, it is a wonderful thing to have access to those who can help us be proactive and vigilant about our financial security. Here we will pick th…
 
Yatin Chadha, MD, hosts Mehul Gandhi, CFP, CLU, TEP Mehul is a financial planner, tax & estate practitioner, & licensed insurance advisor working out of the lower mainland in BC. He is the host of the Mind Your Biz Podcast, which covers topics for business owners & entrepreneurs. Topics discussed: - what is critical illness (CI) insurance, rational…
 
There are many advisors in the financial industry. As healthcare professionals, we rely on them to give us relevant advice to achieve our financial goals. We obviously do not know it all and we never will. So, it is a wonderful thing to have access to those who can help us be proactive and vigilant about our financial security. Here we will pick th…
 
Kevin Mailo, MD, Co-founder of Physician Empowerment is back. We discuss how finance relates to our overall wellness. Discussion points: Burnout - symptoms, survey data, contributors (9:10) The components of wellness (18:33) How financial security/literacy can mitigate stress/burnout (23:06) Considerations for earlier career physicians (34:51) How …
 
There are many advisors in the financial industry. As healthcare professionals, we rely on them to give us relevant advice to achieve our financial goals. We obviously do not know it all and we never will. So, it is a wonderful thing to have access to those who can help us be proactive and vigilant about our financial security. Here we will pick th…
 
Many of us have a house (borrowed from the bank) or on the market looking to buy a house. Home-ownership is a Canadian dream. Given how strong the Canadian housing market is right now, many of us are willing to buy over-priced or extravagant houses. Once we won the bid and bought the house with a mortgage, we have all the intention to aggressively …
 
Physicians in Canada were given the legal privilege to incorporate. It is a privilege indeed. It was decided so for many financial and estate planning reasons. Many have not incorporated. Do the drawbacks of incorporation outweigh the benefits? What is the long-term impact of not incorporating? This episode is part 2 and final thought on incorporat…
 
Yatin Chadha, MD hosts John Stocking, PFP, CIM, CIWM. John Stocking has almost 20 years of experience having worked in private wealth management both in Canada and overseas & with 3 Canadian banks. More recently, John succeeded in launching his own independent financial advice firm "Evidence Based Finance", through which he offers financial plannin…
 
Since incorporation was allowed for physicians, many have taken the opportunity to do so. Many have not. While incorporation is not an answer to everyone's situation, it is however a good tax planning solution for most. Those who have not incorporated for the reason of "I do not have any retained earnings left in my corporation at the end of the ye…
 
The eight and last installment in the serie on Behavioral Finance. Sunk Cost bias or Gambler's fallacy. This bias is something I am certain we all are victim of. You may not want to admit but you fall victim to this one as well. We are human and we act with emotions. It is very difficult to cut our losses and walk away. Just recognize this can be v…
 
Thank you for joining me on my first solo episode! :) This episode is a covers my journey to this point & highlights key professional, financial, and personal lessons from my past, including mistakes. Remember, mistakes should be viewed as learning opportunities, not viewed as regrets. This episode is dedicated to my late father-in-law, Mahen Achar…
 
The seventh installment in the serie on Behavioral Finance. Achieving Cheap at all cost. A race to the bottom is not the same as a race to find value. In fact, getting the cheapest you can find of everything is refusing to recognize opportunity cost. Beware of such cognitive bias!By Vu Kiet Tran
 
We are good at what we have learned and do. We are good at providing medical care. After all, we are doctors. Does that also mean we are good at building financial security and wealth? Most of us are not. Some of us are. Or at least we think we are. What we think we are really good at is mainly in investment. Are we also really good at the other as…
 
Yatin Chadha interviews Dr. Stephanie Zhou, MD. Stephanie practices Addictions Medicine at Sunnybrook Hospital in Toronto. She is passionate about financial literacy & diversity and inclusion, and is well known for bringing financial education to medical school curriculum at the University of Toronto. Stephanie is a strong advocate for equalizing s…
 
Quantitative Easing (QE) is a word that has been bounced around for some time now. I never understood what this sophisticated word meant. To be honest, I did not care until I understood it just enough. Now, I feel the need to understand a bit more because it will impact my personal finances in a very large way. QE will be broken down into simple co…
 
Dr. Yatin Chadha hosts Sanjil Shah (CPA, CA) to discuss REITS with a focus on Alignvest Student Housing REIT (ASH REIT). Sanjil has extensive experience in real estate and is the managing partner for ASH REIT, which is striving to consolidate purpose built student accommodations (PBSA) across various Canadian university markets. Website: https://ww…
 
Yatin Chadha hosts Sophie Cournoyer (FCIA, FSA, MBA, CFA) to discuss the retirement compensation arrangement (RCA). The RCA is a lesser known retirement savings plan that can be relevant for incorporated professionals with substantial salary (T4 income). Connect with me on LinkedIn or at beyondmdpodcast@gmail.com We discuss: 1:08 - My intro to RCA …
 
Yatin Chadha hosts Ron Haik, MBA, CFP, CIM, TEP, senior financial advisor at Nicola wealth. This is the second episode on alternative investments, this time focusing on private equity. Yatin and Ron discuss: What is private Equity (PE)? (4:40) Differences between investing in PE & public markets (5:08) Various (Nicola Wealth) funds (9:00) Leveraged…
 
If you are making investment or money decisions on your own (DIY), are you doing it correctly? Have you considered the overall strategy? Or are you just buying assets haphazardly (like a plastic bag floating in the wind)? What is missing in the DIY strategy? You need to know (because what you don't know can really hurt you).…
 
The second installment in the serie on Behavioral Finance. Confirmation bias. This bias is something I am certain we all are victim of. At least, in medicine, it is rampant. I see it everywhere and from everyone. Are you bringing it from your professional life into your investment decisions as well? I am also excited to announce my upcoming virtual…
 
Do you think you always make the right decision in medicine? There many blind spots which we call cognitive biases. I am certain you are aware of these biases in your professional practice. However, are you aware of these blind spots when in comes to investing your money? This is the first in this serie on the topic of Behavioral Finance. Enjoy! I …
 
Yatin Chadha hosts Dr. Kevin Mailo, an Emergency physician from Edmonton, AB and co-founder of Physician Empowerment. Physician Empowerment is a physician-led venture helping other physicians with burnout, practice management, and financial literacy. Check their website for upcoming courses (with CME): https://www.physempowerment.ca Kevin has abund…
 
Given the new tax changes, many accountants and advisors are recommending Capital Stripping. Before you say yes, is there a better alternative that is more tax efficient? You better listen to this before you jump into Capital Stripping. I am also excited to announce my upcoming virtual Financial Workshop on Sept 17th, 2021. "What would your future …
 
Galen Nuttall, M.Ed, CFP joins Yatin Chadha to discuss financial literacy as it pertains to Canadian physicians. One of Galen's top interests as an experienced planner is helping incorporated small business owners, including doctors, create their own pensions using their professional corporation. Discussion points: - survey part 1: 58% of Canadian …
 
It is my belief that a well diversified investment portfolio should include equities, bonds (ok maybe not in this low rate environment), ETFs, insurance products, real-estate, and non-correlated investment products. It should also include REITs (which could be part of your non-correlated investment portfolio). But what are REITs you ask? Well, I (o…
 
A few episodes back, we learned about private pension plans (IPP and PPP). We know what the benefits and drawbacks are. But there is 1 particular aspect of these pensions that deserve its own episode. This feature of the private pension plan (that is most powerful inside the PPP) is the most powerful of all the features. If you have children, you m…
 
Dr. Yatin Chadha hosts Leanne Mamchur, CFA, CFP, FMA to discuss investment costs, this time focusing on exchange traded funds (ETFs). Leanne has written an article on investment costs that can be accessed: https://woodgundyadvisors.cibc.com/Leanne-Mamchur/articles-written-by-our-team%20?lang=en_US I begin by discussing a personal investment decisio…
 
Everyone likes to invest in real-estate. Healthcare professionals loves to invest in real-estate. Do you know why? If you are not invested in real-estate, should you? What are the incentives and the disincentives of investing in real-estate? This episode will try to answer some of these questions. This episode is sponsored by another Emerg Doc, Dr …
 
Persistent Quality Part-time Effort is a powerful concept that all physicians must understand. Whether you want to call it Side Hustle or Multiple Revenue Stream, the power is in the financial freedom that it offers from your everyday professional life. One might say "isn't it enough that I am a physician? Why do I need to do something else?". The …
 
You hear about "rebalancing" often. What is it in fact? What is the purpose of rebalancing? How should you do it? Hear some answers here. My guest David MacNicol from MacNicol & Associates Asset Management will help us learn more about Rebalancing. I also am excited to announce my upcoming virtual Financial Workshop on Sept 17th, 2021. The first on…
 
Have you ever wondered exactly how much your investments cost?? Welcome to part 1 of demystifying investment costs. This episode focuses on investment costs associated with mutual funds and will provide the fundamentals for the follow up episode that will discuss ETFs. Dr. Yatin Chadha interviews Leanne Mamchur, CFA, CFP, FMA from CIBC. Leanne has …
 
Dr. Yatin Chadha interviews his good friend, Arjun Saraf, CPA, CA, EMD, who is VP Finance and Mortgage Admin at New Haven Mortgage Corporation. The topic is mortgage investment corporations (MICs). Arjun Saraf has more than 10 years of experience in the MIC space and is an expert on the topic. https://www.newhavenmortgage.com/ This is the first of …
 
At some point in our life, we will be purchasing life insurance. When that time comes, hopefully our broker will educate us on how they help us determine how much life insurance is needed. To answer this simple questions, it could become quite complicated. Here is an episode to help us understand why that is. I also am excited to announce my upcomi…
 
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