How is my Financial Health, Doc?

Top 10 financial mistakes made by mid-career physicians

Physicians and almost all providers in healthcare have very poor financial literacy. It is very common for us to make financial mistakes. The sad news is that most of us are not even aware of them. As we progress in our career, we hope that we finally "arrived". We might have done so professionally in medicine. However, have we "arrived" financially?

 

I am also letting the audience know of our inaugural Code Green Conference on Feb 2nd, 2024 at the Novotel Hotel in North York. It is an all-day jam full of financial knowledge. Save the Date! More details to come soon. If you don't come for the knowledge, at least come for the Wine&Cheese!

 

As usual, if you have any comments or feedback, please email me at hmfhd2020@gmail.com

 

Financial mistakes you did not even know you made - Where are your financial blind spots?

As physicians, we make a lot of financial mistakes. Some of us are aware, but most of us are not aware we are making them. This is because we have blinders on. We are lead astray by our cognitive traps. In this podcast, we discuss of some them with Dr. Ketan Kulkarni.

 

To leave your comments, please email me at hmfhd2020@gmail.com

 

What was appropriate prior to 2014 is no longer applicable in 2023: Dividend only strategy

Many of our colleagues have been instructed by accountants to use a "Dividends Only" strategy to take money into the personal hands. This strategy may be valid for some, but not for most (at least not after 2014). Unfortunately, despite the changes in the law, our colleagues have not been instructed to change strategy. This persistence down the same path may have major detrimental repercussions. Learn what these repercussions could be and how they apply (or not) to you.

 

If you want to leave me feedback or comments, please email me at hmfhd2020@gmail.com.

Things you should know about retail banking - Confessions of an Ex-banker (Part 2)

Many of us use banks. But most of us don't understand the banking industry. I surely don't understand fully the industry myself. That is why we have a guest on today to explain the underbelly of the banking industry and what the banks don't want you to know. This conversation with an ex-banker is honest, blunt, and edgy. I hope you're ready for it.

 

To leave me feedback, please email me at hmfhd2020@gmail.com

Special Edition 5: What is the Canadian Physicians’ Pension Plan (Question from accountants)?

We all Canadian physicians have been yearning for a pension plan for the profession for approximately 120 years. No one has taken the time or given the effort to create one for us. That time has come. I, the co-founder of the Canadian Physicians' Pension Plan, have designed one that meet the needs of Canadian physicians. It is designed specifically for us. 

98% of us are in RRSP, a vehicle designed for middle income individuals. It is not the ideal retirement vehicle and tax tool for Canadian physicians. A pension plan is.

Here is why.

 

If you have any comments or feedback, please email me at hmfhd2020@gmail.com

 

If you want to understand more about the Canadian Physicians' Pension Plan, please visit www.canadianphysicianspensionplan.ca

Things you should know about retail banking - Confessions of an Ex-banker (Part 1)

Many of us use banks. But most of us don't understand the banking industry. I surely don't understand fully the industry myself. That is why we have a guest on today to explain the underbelly of the banking industry and what the banks don't want you to know. This conversation with an ex-banker is honest, blunt, and edgy. I hope you're ready for it.

 

To leave me feedback, please email me at hmfhd2020@gmail.com

Financial teaching points for foreign trained physicians (and many others)!

This is an episode I recorded with my good friend Saad Nadeem, a CFP who helps foreign trained physicians in Canada. The concepts we talked about are not just for foreign trained physicians. Many of my colleagues trained in Canada are still suffering from the challenges we discussed. The learning points are relevant and real, very real. It is my strong belief that physician burnout is tied to financial well-being. Listen to see if you agree.

 

If you want to leave me with feedback or comments, please email me at HMFHD2020@gmail.com

Seven Money Mindsets: which one(s) you have will determine your financial security and wealth

There are 7 Money Mindsets. Do you know which one(s) you subscribe to the most often? Which one you adopt in times of stress or major money/investment decisions? "Know Thy Self" is crucial to your financial success. 

 

For feedback or comments, please email me at HMFHD2020@gmail.com.

Roger’s story about Suitability vs Best Interest

I had the pleasure to have on my show Roger who shared with me his financial literacy journey and how he came to understand Suitability vs Best Interest Standard.

 

Please email me if you have any comments or feedback at HMFDH2020@gmail.com

Special Edition 4: What is the Canadian Physicians’ Pension Plan (Question from physicians) - Part 2

We all Canadian physicians have been yearning for a pension plan for the profession for approximately 120 years. No one has taken the time or given the effort to create one for us. That time has come. I, the co-founder of the Canadian Physicians' Pension Plan, have designed one that meet the needs of Canadian physicians. It is designed specifically for us. 

98% of us are in RRSP, a vehicle designed for middle income individuals. It is not the ideal retirement vehicle and tax tool for Canadian physicians. A pension plan is.

Here is why.

 

If you have any comments or feedback, please email me at hmfhd2020@gmail.com

 

If you want to understand more about the Canadian Physicians' Pension Plan, please visit www.canadianphysicianspensionplan.ca