beyond MD with Dr. Yatin Chadha

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.comWe discuss:- Holding company - what is it, rationale (5:00)- Rationale for protecting investments/assets from medical liability (8:45)- Homes with 2 professional corps, when to set up (11:00)- HoldCo set up, transfer of $ from operating company to HoldCo (14:00)- Lifetime capital gains exemption/LCGE (20:13)- Tax on passive/split income, TOPI/TOSI (26:15)- Surplus stripping (30:02)- Investing in collectibles (40:17)- Rental properties (42:04)- HoldCo downsides/costs (45:58)Reach out anytime on LinkedIn, Instagram (@beyond.md), or beyondmdpodcast@gmail.com

Yatin Chadha, MD, hosts Mehul Gandhi, CFP, CLU, TEPMehul 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, rationale (6:44)- how much insurance is necessary? (9:50)- is it necessary in Canada? (12:20)- potential impact of CI on family (14:08)- coverage of conditions (15:24)- personal, corporate, vs shared policy ownership (17:25)- return of premium (25:23)- loss of independence (27:30)- policies for children (29:20)- must ask questions (33:25)- retirement: mitigating sequence of returns risk (36:44)- retirement: mitigating longevity risk (42:22)You can listen to the "Mind Your Biz Podcast" by Mehul here: https://open.spotify.com/show/2MXapiWUSNcWUtYH76tYCI?si=3c0b6350982d43d9 Mehul's email: m.gandhi@westmountplanning.comFeel free to reach out to me on LinkedIn or email to beyondmdpodcast@gmail.com

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 to have more control over finances (45:58))Does money = happiness? (53:14)Physician Empowerment is hosting a financial literacy conference June 3-5 in Toronto, by Canadian MDs for MDs.Website: https://www.physempowerment.ca/live

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 planning, DIY coaching, or comprehensive wealth management, or all of the above for a single flat fee.Website: https://evidencebasedfinance.ca/Topics:- evidence based investing basics (8:47)- five factor investing (13:44)- evidence based finance (37:45)- why it can be so hard to follow evidence/your plan (49:37)Factor investing subtopics:- basics, growth vs value, ETF considerations, uncorrelated returns, downside protection?, historical data (US, Japan), long term mindset, practicalityResources:https://www.pwlcapital.com/resources/five-factor-investing-with-etfs/https://ws-marketing-ui.s3.amazonaws.com/Wealthsimple_Our+Approach+to+Building+Portfolios_Final.pdf 

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 Acharya, a remarkable individual. At the end of the episode I share what I learned from him.Topics:- my background/journey (1:10)- professional, personal and financial lessons from San Diego (4:35)- financial lessons and mistakes in Calgary (10:25)- major take home points - marriage, delayed gratification, & lessons from Mahen (18:00)Reach out anytime on LinkedIn or beyondmdpodcast@gmail.com

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 student knowledge when it comes to personal finance. She blogs regularly about personal finance on Instagram (& YouTube) @breakingbaddebt.Topics of discussion- what motivated her to bring financial education to the curriculum (3:35)- trends - lines of credit, leveraged investing (9:05)- incorporation - rationale & considerations for when (20:00)- the power of frugality (35:30)- budgeting basics (41:39)- investing approach (51:48)- rapid fire (59:00)Reach out to me anytime on LinkedIn or at beyondmdpodcast@gmail.com.

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://www.alignveststudenthousing.com/We discuss:- REIT tax (in)efficiency (1:12)- Sanjil's background (5:52)- about Alignvest Student Housing REIT (8:21)- target markets (10:25)- what is a REIT? (13:25)- REIT pros/cons (15:29)- types of REITs (19:10)- returns, distributions, tax efficiency, return of capital (24:20)- is real estate an inflation hedge? (29:08)- RE macro outlook (32:08)- trends in student housing (36:25)- student housing talwinds/headwinds (38:05)- challenging REITs (43:35)

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.comWe discuss:1:08 - My intro to RCA3:25 - our guest, conflicts on interest4:40 - what is an RCA?9:22 - differences between RCA and IPP13:25 - basic features (governing body, creditor protection, tax deductions, tax deferral, buy back of past service, no impact on RRSP contribution room, considerations for income splitting)16:53 - basic RCA structure (2 accounts: Investment account & Refundable Tax Account)18:29 - basic RCA mechanics20:13 - Sophie talks about eligible investments (very few restrictions)21:28 - Example: depositing $50,000 into RCA - what happens23:10 - Examples: what happens to interest income & realized capital loss in the investment account? 24:18 - RCA tax efficiency (and inefficiency)25:30 - potential benefit of RCA when retiring in low tax jurisdiction26:18 - RCA and passive income rules27:55 - RCA - any issues with excess returns?29:15 - wealth transfers, what happens at death?30:47 - RCA Cost - set up and maintenance33:30 - what can go wrong with an RCA35:15 - my summary (and room for DIY)

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 buy outs (11:45)Credentials of (Nicola Wealth) fund managers (12:43) Evergreen structure (14:55)Understanding returns (16:53)Potential returns vs stocks (21:50)Downside protection? (23:45)PE investment time horizon (25:30)How companies are evaluated (26:40)PE investment example (28:04)Risk/what can go wrong (30:23)General advice (31:40)Questions for PE firms (33:23)

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.caKevin has abundant experience in direct ownership of real estate and provides his insights on real estate investing.Discussion points:- introduction, Physician Empowerment (3:56)- tackling $300000 of student debt (9:18)- Kevin's summary of his real estate investments (12:25)- real estate: active vs passive (16:35)- finding tenants (26:17)- using a holding company (29:55)- evaluating real estate through the numbers (35:30)- tax efficiency (44:38)- what about downturns? (45:18)- mistakes (51:02)- variable vs fixed rates on your rental property (52:45)- advice (53:55)Kevin Mailo can be reached at kmail@physempowerment.ca