beyond MD with Dr. Yatin Chadha

Today I'm thrilled to host Dr. Neel Chadha. Neel is a family physician who made the bold decision to go all in on developing retirement residences for seniors.This is a story of embracing new opportunities, taking calculated risks, & pursuing a focused life to find success.Discussion Points:Introduction (1:35)From family medicine & geriatrics to developing senior homes (5:15)Neel's decision to leave the hospital & go all in on senior living (6:55)Neel's retirement residence community (9:35)Senior living in Canada - status quo, supply/demand (12:00)Investing in senior living - key metrics to track (16:25)Navigating interest rates & other challenges in 2023 - key takeaways (18:42)Why a focused life is critical for success (23:30)The importance of mentorship (26:05)What Neel wants to be known for (30:25)Closing remarks (31:10)This episode features Arya EHR - https://www.aryaehr.com/**I endorse only products/services I personally use or would use. Any income generated offsets the costs of running this podcast :)Neel:https://lanarklifestyles.ca/https://www.linkedin.com/in/dr-neel-chadha-44829013b/Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaWays to support beyond MD:Amex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCPhttps://americanexpress.com/en-ca/referral/cobalt?ref=yATINCYEoc&XLINK=MYCP

The idea for today's pod was born after a riveting conversation on a flight to Florida. I'm happy to host Matthew Lee & Ming Lim from Volition Properties to learn how they've built wealth through investing in multifamily properties in the Toronto core.Discussion Points:- Introductions - worth it, I promise (1:30)- Introduction to Volition (8:15)- The investment thesis for multifamily in Toronto (10:35)- Investment locations (19:50)- Why tenants are so critical to the business model (23:45)- Are there opportunities currently in Toronto? (25:30)- What about areas outside the city core primed for more gentrification? (29:55)- How do you turn properties into meaningful cash flow later? (33:30)- The numbers behind a recent deal (44:55)- How many properties does one need to exercise this strategy? (48:10)- Price per square foot, the reason for 2-3 bedroom suites (51:00)- 101 on laneway suites & the status quo in Toronto (53:20)- Parting words (1:01:15)Volition Properties:FREE Monthly investor meetup:https://www.meetup.com/Volition/Detailed info on the condominiumization meetup Oct 29th, 2024https://www.meetup.com/volition/events/302351457/?eventOrigin=group_events_listContact info: info@volitionprop.com www.volitionprop.com 1-877-416-BRRRwww.facebook.com/VolitionPropwww.instagram.com/volitionpropertieswww.ca.linkedin.com/company/volitionpropwww.youtube.com/@VolitionPropertiesPhysician Financial Wellness Conference:https://www.physiciansficonference.com/Yatin Chadha:Email: beyondmdpodcast@gmail.comLinkedIn: Yatin ChadhaWays to support beyond MD:Share beyond MD with your networkAmex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCP

Today is a little different on beyond MD. My incredible wife, Sima Acharya, interviews me to uncover money & life lessons I've learned over time. Plus, we talk about lessons we've learned as a couple.Discussion points:Sima's introduction (2:00)Starting an idea - how & why beyond MD came to be (6:15)Your spouse doesn't have to be a sounding board for everything (11:45)The biggest lessons learned over time (13:50)What concepts from the pod have I put into practice? (21:40)What podcast topics have I intentionally avoided today? (27:59)Lessons for the kids (33:00)Our evolution when it comes to being aligned financially (35:50)Most memorable beyond MD episodes (42:50)My 3 favourite books (45:50)My dream podcast guests (49:00)Future ideas for beyond MD (50:50)Yatin Chadha:Email: beyondmdpodcast@gmail.comLinkedIn: Yatin ChadhaWays to support beyond MD:Share beyond MD with your networkAmex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCPBooks & resources discussed on this episode:https://andrewhallam.com/balance/https://www.amazon.ca/100-Baggers-Stocks-100-1/dp/1621291650https://www.amazon.ca/AM-Club-Morning-Elevate-Life/dp/1443456624https://www.lynalden.com/

Today I host my friend & colleague, Dr. Matt Poyner. Matt breaks down the Registered Education Savings Plan (RESP) & other ways to optimize finances when it comes to our kids' education.Matt is a long time blogger at dividendstrategy.ca, physician, & is now passionate about offering flat fee financial planning.Discussion Points:- Matt's journey & foray into financial planning (2:34)- Basic RESP overview (14:15)- RESP set up - family vs specified (21:05)- Optimal RESP contribution strategy (23:09)- Investing approach inside an RESP (31:32)- RESP withdrawals & understanding the RESP buckets (37:26)- RESP options if your child doesn't go to school (44:00)- Thoughts on optimizing student financial aid (48:44)- Spending time with the kids - Matt's perspectives (57:50)Matt:matt@PoynerFinancial.cahttps://PoynerFinancial.cahttps://dividendstrategy.ca/blog-2/Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaEpisode Links:https://dividendstrategy.ca/blog-2/https://postcall.ca/subscribe?ref=YJc1MtZLsq&_bhlid=f71f181c85b22d7c236a5b072534f69e25f99241https://rhombus-butterfly-rwgm.squarespace.com/updatesininpatientmedicinehttps://www.looniedoctor.ca/2023/04/21/resp-contribution/https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4092/registered-education-savings-plans-resps.html

Mark Halpern (CFP, TEP, MFA-P) is one of the top voices in tax efficient philanthropy in Canada. Earlier this year, Mark interviewed me on the reasons to give, and I came up with 4 reasons important to me that I hope you will find useful.Discussion Points:- my background & journey (3:00)- the journey of beyond MD (6:02)- how my interest in philanthropy evolved (11:20)- reason #1 to give: giving makes is happier - what is the evidence? (13:10)- reason #2 to give: imparting valuable lessons to our children (20:05)- how to talk to our kids about giving (25:56)- reason #3 to give: networking & entrepreneurship (29:00)- reason #4 to give: financial benefits (33:20) - numerical example of transferring appreciated stock from your corporation (35:30)- how to make your charitable gifts more meaningful (39:30)Yatin Chadha:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaAmex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCPMark Halpern:https://wealthinsurance.com/https://powerofplatinum.com/https://www.linkedin.com/in/markhalperncfptepmfap/mark@wealthinsurance.comLinks from this episode:https://wealthinsurance.com/webdoc/TaxLetter-The-Entrepreneurial-Philanthropist.pdfhttps://mycharityfund.ca/https://www.givewise.ca/Ways to support beyond MD:Share beyond MD with your networkAmex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCP

I'm thrilled to host my friend & colleague, Arjun Saraf (CPA, CA, EMD). We focus on Mortgage Investment Corporations, with a focus on understanding the challenges in the current environment & key considerations when navigating this investment strategy.Discussion points:- Arjun's professional background (5:33)- Quick overview on New Haven's MIC (6:57)- Understanding equity based lending (8:50)- How does a high interest interest rate environment impact a MIC? (12:00)- The MIC business landscape today (15:07)- Tax treatment of MIC investment income (17:41)- Current trends on arrears (18:25)- Thoughts on interest rates (25:45)- Risk mitigations strategies within a MIC (29:40)- Key lessons learned running a business in this environment (35:13)- MICs vs other fixed income investment strategies today & when rates fall (36:30)- 3 Key questions to ask before investing in a MIC (39:40)- Time to liquidity/getting your money out (43:20)- Arjun's most valuable lesson (47:25)- My perspectives (49:50)Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaArjun:asaraf@integratedequities.comhttps://www.linkedin.com/in/arjun-saraf-cpa-ca-emd-b0667022/https://www.newhavenmortgage.com/

Today I'm excited to host Justin Manning, a licensed life & health insurance broker from BC, to talk about a topic I've been getting many questions on lately: Health Spending Accounts, HSAs.Discussion Points:- Justin's background (4:05)- What is an HSA/PHSP (4:45)- HSA eligibility (5:42)- Who could benefit from an HSA? (9:45)- What services are covered by an HSA? (11:20)- Can travel insurance be covered by an HSA? (13:29)- Specific services covered/not covered by an HSA (14:20)- The mechanics of how an HSA works (16:55)- How much coverage are we allowed through an HSA? (19:49)- Plan customization, wellness spending accounts (22:22)- Set up, key questions, costs (26:26)- Any HSA cons (?), potential misuse (32:28)- No need to prove health (36:38)- Can provincial plans like OPIP be paid through by our corporation (37:17)- Justin's closing thoughts, what if I already have a good group plan? (38:37)- My perspectives (42:30)This episode features Arya EHR - https://www.aryaehr.com/**I endorse only products/services I personally use or would use. Any income generated offsets the costs of running this podcast :)Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaAmex credit card referral link: https://americanexpress.com/en-ca/referral/business-platinum?ref=yATINC4uFw&XLINK=MYCPJustin:https://www.linkedin.com/in/justin-manning/https://justinmanning.com/hello@justinmanning.com

Today I'm thrilled to welcome Jason Pereira, award winning financial planner to the show to re-explore pension plans for professionals. The focus is on the IPP, the individual pension plan. Discussion Points:- Individual Pension Plan (IPP) overview (2:40)- Jason's background (5:25)- key definitions - defined benefit (DB) & defined contribution (DC) pensions (6:10)- how is the DB of an IPP calculated? (7:18)- When to start an IPP? Thoughts on waiting longer & reducing fees (11:20)- Who is the ideal candidate for an IPP? (14:08)- Is there an income threshold below which an IPP makes no sense? (16:25)- Is there a ceiling to the DB? (18:05)- Jason's thoughts on the RCA (21:02)- IPP vs PPP (26:00)- Does is make sense to place conservative assets inside the DB component? (30:33)- Is the contribution amount similar across different pension types? (32:28)- Navigating the pension landscape (32:50)- IPP vs RRSP & Spousal RRSP (34:30)- IPP vs investing in a corporation with new cap gains rules (35:15))- Common mistakes professionals & business owners are making (37:45)- Improvements upcoming to financial planning in Canada (42:26))- The most valuable lesson Jason has learned (50:00)Yatin:beyondmdpodcast@gmail.comhttps://www.linkedin.com/in/yatin-chadha-29074b109/Jason:https://jasonpereira.ca/https://jasonpereira.ca/financial-planning-for-canadian-business-owners-podcast-jason-pereirahttps://www.linkedin.com/in/pereirajm/

I am delighted to host international best selling author, Andrew Hallam, on today's episode.We have a wide ranging discussion on the pillars of a successful life, the relationships between money & home ownership & happiness, spending money to enhance life satisfaction, evidence-based investing for success & simplicity, relationships, purpose, & lessons learned living abroad.Discussion Points/Chapters:- Andrew's background (1:40)- The requisites of a balanced & successful life (5:35)- The relationship between income and happiness (7:30)- How should we spend our money? (10:40)- The desert island litmus test (15:55)- Is home ownership associated with happiness? (18:05)- Is our happiness impacted by the neighbourhood we live in? (21:59)- How much of our income should we spend on a home? (25:10)- Why our investment horizon should be 30+ years (27:10)- Should you lump sum invest now or wait? (31:30)- Andrew's take on one stop shop ETFs (38:00)- My investment approach & challenges (42:30)- Key questions to as a financial advisor (46:17)- How to think less about $$ and embrace balance (50:00)- Why relationships are so important (52:99)- Meaningful relationships in a world where social media is ubiquitous (54:38)- Lessons from living abroad, advice for those considering it (59:00)- The power of giving (1:02:30)- Finding your purpose (1:04:35)- My perspectives (1:09:15)Andrew's books:https://www.amazon.ca/Balance-Invest-Happiness-Health-Wealth/dp/1774580756https://www.amazon.ca/Millionaire-Teacher-Wealth-Should-Learned/dp/0470830069https://www.amazon.ca/Millionaire-Expat-Wealth-Living-Overseas/dp/111941189Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin Chadha

Welcome back to beyond MD! Do you have an idea you want to bring to the world? If so, this episode is for you. Today I sit down with Matija Kamikovski, CEO of Precision Finance. Matija has more than a decade of experience leading finance teams at start ups.Discussion Points:Matija's background in guiding startups (4:10)Coming up with a sustainable business idea (7:50)How to get data on the usefulness of your idea (10:25)How do you know people will pay for your idea? (13:05)Attributes leading to success/failure in entrepreneurship (14:45)How do you actually get started? (17:59)The financial metrics you need to track in the early days - cash, burn, runway (25:10)Growth at all cost vs bootstrapped businesses (27:03)How often should we track the financial metrics? (29:30)Operating as a sole proprietor vs incorporating the business - set up, liability, tax deductions (30:30)Budgeting, accounting, bookkeeping - guidelines & platforms (37:50)When should a company start outsourcing tasks? (43:20)Potential pitfalls of hiring to quickly (45:00)The importance of sales (47:41)Exit strategies (50:13)What % of percentage of start ups fail? Don't let the thought of failure stop you (53:27)Closing thoughts by Matija (55:12)My perspectives This episode features Arya EHR - https://www.aryaehr.com/**I endorse only products/services I personally use or would use. Any income generated offsets the costs of running this podcast :)Yatin:Email: beyondmdpodcast@gmail.com LinkedIn: Yatin ChadhaMatija:matija@precisionfinance.cahttps://www.precisionfinance.ca/https://www.linkedin.com/in/matijakamikovski/