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A show where questions on personal finance from Healthcare Professionals are never a taboo.
Episodes
Apr 2, 2022
Apr 2, 2022
31 min
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 and feedback here: hmfhd2020@gmail.com.
Mar 18, 2022
Mar 18, 2022
41 min
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 the brain of one of the most experienced advisor I know. Gordon offers a wealth of knowledge and wisdom (and stories). We will chat with him as he shares with us how healthcare professionals can set themselves on the right path from the very beginning. Come and listen to this 3rd and final installment of our fireside chat with Gordon Berger.
Feb 19, 2022
Feb 19, 2022
35 min
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 the brain of one of the most experienced advisor I know. Gordon offers a wealth of knowledge and wisdom (and stories). We will chat with him as he shares with us how healthcare professionals can set themselves on the right path from the very beginning. Come and listen to this 2nd installment of our fireside chat with Gordon Berger.
Feb 13, 2022
Feb 13, 2022
52 min
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 the brain of one of the most experienced advisor I know. Gordon offers a wealth of knowledge and wisdom (and stories). We will chat with him as he shares with us how healthcare professionals can set themselves on the right path from the very beginning. Come and listen to this fireside chat with Gordon Berger.
Feb 6, 2022
Feb 6, 2022
25 min
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 pay down the mortgage. It is what we are taught to do. Do not have debt! However, trying to live up to this dogma, we often neglect other important tasks that will increase our net worth. Are you doing this and don't even know it?
Please email me if you have any feedback, comments, or suggestion for future topics: hmfhd2020@gmail.com
Jan 30, 2022
Jan 30, 2022
33 min
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 incorporation even if there is no retained earnings at year's end.
Jan 20, 2022
Jan 20, 2022
54 min
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 year" should really reconsider. Incorporation is really just the first step. Having retained earnings or not at year's end is really irrelevant strategically speaking if the end goal is financial security and wealth building. Listen to understand this vantage point.
Jan 9, 2022
Jan 9, 2022
14 min
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 very detrimental to your overall portfolio performance.
Jan 1, 2022
Jan 1, 2022
14 min
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!
Dec 25, 2021
Dec 25, 2021
19 min
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 aspects of financial planning? The biggest enemy to knowledge is not ignorance, it is the illusion of knowledge.
Please email me if you have any feedback, comments, or suggestion for future topics: hmfhd2020@gmail.com