In this post, I'll talk about the proposed changes to capital gains tax that could significantly impact physicians in Canada. If you're a doctor navigating financial planning or considering incorporation, this is a must-watch.

In this blog post, we’ll talk about a common dilemma I see in the intricate world of financial decisions and products.

The question I pose is “do you have a plan or a collection of products?

All the information out there about whole life insurance can be polarizing, and many people are poised to make what I consider the most expensive mistake... buying something they don't need.

I'm not saying that no one needs whole life insurance, nor am I saying everyone needs it. What I cover in this episode is how nuanced the decision can be and why it's so polarizing out in the financial education space.

Have you ever felt like everyone else has it all figured out when it comes to money?

Do you feel like there must be something wrong with you if you haven't been able to make sense of your options?

Do you struggle to find the time to compare all the different accounts and products available and don't have a clear path forward?

Well... then this episode is for you.

In this episode, I pull back the curtain about financial planning for physicians, tackling the misconception that everyone else has their financial life all figured out.

Join me and listen in to this episode about the founding of Cherry Health, how it's helping physicians across Canada and how to get started. Jordan Vollrath, who is a practicing physician and co-founder of Cherry Health, also shares his own journey using the platform and the entrepreneurial journey that led him into the tech space with a mission to make a difference for overwhelmed doctors across Canada. 

Dr. Pandya is eager to share what she's learned by pursuing her passions and the approach to resilience and building support structures that has allowed her to accomplish so much. Learn about her 5 pillars for resilience, real-life examples of support structures to stay grounded and maintain work-life balance.

Carlin shares examples of how she has uncovered opportunities for recent clients and the value of joining her Mortgage Monitoring Program where she does the work for you of running the numbers to see if you're in the best mortgage for your situation. We also talk about specialized lenders that work best with physicians and how the way you pay yourself from your corporation may impact your ability to qualify for a mortgage, if you don't know the right questions to ask.

Dr. Akintade went into medicine because she knew she wanted to help others, then she realized it was a broken system that caused lots of burnout and not a lot of financial security.

She now helps women physicians take control of their finances and tackle the root causes that keep them from having the financial life they crave.

In this episode with New York Times bestselling author, Eve Rodsky - we go in depth on the challenges busy professionals face in reclaiming time in their jam-packed schedules so they can be freed up to be creative.

Part of how Dr. Poyner helps physicians is to help them clarify their financial path forward, one of the big questions he gets is "Should I become a DIY investor?" To help answer that, he's come up with the three signs you might be a candidate for doing your own investing.

Matt goes deeper than just the numbers and looks at the intersection of money and happiness. We talk about a cool concept Dr. Poyner refers to as the 'four f's of evidence-based happiness'. Listen in to see how you rate yourself on those four f's.

I had never done an episode about cash flow, and when I met Sunny, I realized she is the perfect person for this episode, because she makes it fun. Sunny is a zero-judgement financial planner who rolls up her sleeves and digs deep into real money talk. In this episode Sunny and I talk about how to look at cash flow and budgeting without getting bogged down by shame and judgement.

In this episode I learn from Mark what inspired him to learn so much about finance and then share it with his colleagues. We also talk about why he himself uses a financial advisor and the important difference between delegating and abdicating when it comes to working with a financial professional.

It's very important to understand why so much of the advice out there does not apply to the reality of the Canadian physician.

The main reason is because of the corporate structure. Most physicians I meet are incorporated or should be incorporated. This adds a layer of complexity that makes simple questions now more complex.

Once a physician is incorporated, a whole new slew of questions arises. How much should I pay myself and how? Should I retain earnings in my corporation? How can I invest inside of my corporation in a way that is tax efficient?

I'll admit that often times get stuck in a trap around time. That I don't have enough for the things that matter most to me.

But... I also wonder... "Well isn't that the way it has to be?"

Thankfully Dr. Gallie is a masterful life coach and in this episode she'll help you start to crack the code on how to shift the story around time.

Sara is a master certified life coach, mother of 4, and wife to Ryan, a foot and ankle surgeon.

Sara coaches physician spouses and intimate partners to create rock solid marriages.

Sara helps intimate partners of physicians drop the scorecard in their marriage, come out of the shadow of their partner's career, and pursue what lights them up.

The Tyrant, the Artist, the Warrior, the Wizard...

Which money archetype best describes you?

Brenda St. Louis believes that every person has a money archetype that shapes the way they relate to money. She helps people discover theirs and then use that knowledge to empower them to make better money decisions.

One day Dr. Tran had a brutal wake up call around his finances. He took a look at his portfolio and saw it had been languishing for a decade, not even keeping up with inflation.

Done with the hands-off approach, he decided to educate himself around all things finance and dive deep into the reality of physician financial planning and corporations.

Out of this self-discovery he created the podcast "How's My Financial Health, Doc?" where no financial topic is too taboo AND he is the President of the Canadian Physician's Pension Plan.

I had a flat-out amazing conversation with Dr. Wing Lim about practice transformation, finances, and peer support all for physicians.

Dr. Wing Lim is a family physician based out of Western Canada and co-founder of Physician Empowerment, a group of physicians out to enhance the lives of doctors across Canada with their financial literacy, practice transformation, and coaching programs.

In this interview, Dr. Lim shares with me the rough road that led him to take control of his finances and the struggles he sees physicians face behind closed doors.

The doctor so nice, I had to interview him twice.

Dr. Mailo is an emergency physician based out of Edmonton, Alberta, the founder of Physician Empowerment, and an all-around great guy.

In this episode we talk about key things Dr. Mailo has learned from working with physicians and providing them with a financial education for the past many years.

We talk about examples of 'million dollar conversations', conversations that are worth a million dollars of impact.

Join me and Dr. Mailo as we explore physician empowerment, financial literacy, real estate and sleeping better at night and providing better care to patients via financial peace of mind.

Dr. Kevin Mailo is a full-time emergency physician and founder of Physician Empowerment – an organization dedicated to transforming the financial and professional lives of Canadian physicians. He has been active in real estate for over 10 years.