- Listen to it on Apple Podcasts.
- Listen to it on Spotify.
- Listen to it on Google Podcasts.
In this episode, I interview one of the most experienced Canadian financial planners that I know, and who I tend to go to when I have any complex tax and financial planning questions. His name is Ed Rempel, and in this episode, we tackle:
- How to determine how much you need to be financially independent?
- What are some sustainable withdrawal strategies that you can use to not run out of money when you’re living off your investments?
- How to pay less tax here in Canada
- And much, much more.
Thanks so much for tuning in, and please remember to leave a rating on Apple Podcasts or Spotify if you enjoy the show.
A Big Thanks to Our Sponsors:
BMO ETFs: ETF Market Insights
Catch the latest episodes on YouTube Here.
There are so many opinions on how to invest your money today, but it can be hard to find credible voices to rely on in the world of finance and investing.
One resource I turn to every week is the ETF Market Insights YouTube channel, led by today’s episode sponsor, BMO ETFs.
Market Insights brings in industry experts and their weekly episodes cover the hottest themes like inflation, infrastructure, healthcare, and more. Tuning in helps me stay up-to-date on what’s happening so I can be a smarter investor. You can also submit your own ETF questions, to be answered on the show.
Do yourself a favour and subscribe on YouTube to ETF Market Insights, or visit ETFMarketInsights.com so you can be notified when future episodes go live.
BMO Asset Allocation ETFs:
Asset allocation explains over 90 per cent of the variation in a portfolio’s quarterly returns, so it’s no wonder Canadian investors are turning to these ETFs!
Today’s sponsor, BMO ETFs, offers these innovative all-in-one solutions with the BMO All-Equity ETF (ZEQT), BMO Growth ETF (ZGRO), BMO Balanced ETF (ZBAL), BMO Conservative ETF (ZCON), and more. BMO developed these to help provide investors with ETFs that offer broad diversification and are also low-cost and simple to use.
These ETFs invest in a number of underlying index based ETFs and are rebalanced automatically back to your set asset allocation or mix of stocks and bonds. They offer a hands free approach to investing that is built on disciplined weights to provide exposure to different geographies and sectors all in one solution.
BMO actually offers eight asset allocation ETFs. Learn more at BMOETFs.com.
Passiv:
You can get your free Passiv account here.
You can also see my asset allocation and what ETFs I buy using Passiv here.
Passiv is literally the number one tool that I consistently use to manage all my investments. It automates all the calculations that you normally have to do to rebalance your portfolio, and lets you automatically rebalance your portfolio with just a few clicks.
It also lets you see how your entire household’s portfolio is doing in seconds (instead of you having to manually log into both your and your partner’s accounts to see how much you actually have, and how your investments are doing as a whole).
Ultimately, you get the automation that a robo-advisor provides, without having to pay the fees that robo-advisors charge.
Get your free Passiv account here.
Resources from the Episode:
Ed’s research and website: edrempel.com
Ed’s YouTube channel: youtube.com/@EdRempel
Ed’s Financial Planning practice
Questions from the Episode:
- When somebody is trying to determine how much they need to be financially independent and have the option of retiring, what is the process that should be undertaken to figure this out?
- What are some of the sustainable withdrawal strategies that you recommend, for those looking to live off their portfolio?
- Have you ever used some type of variable withdrawal strategy with your clients where the amount withdrawn every year to live off the portfolio varies depending on how the markets did that year?
- Have you ever done any sort of variable withdrawal strategies like using a spending ceiling and floor for the year?
- For those that don’t feel comfortable going with 100% equities, what do you recommend? Do you change your recommendation depending on what is happening in the bond market? (like with the recent drops)?
- What is the process and calculations that you do annually with clients to ensure that they are withdrawing a sustainable amount from their portfolio every year?
- When it comes to tax planning and making sure that we’re paying the least amount of tax when living off the investment portfolio, are there any strategies or approaches that you’d recommend?
- For those that want to read or watch more of your research and insights, what’s the best place for them to go?
- You have so many resources on your website, a YouTube channel with how-to’s, where people can learn all about creating a financial plan. Why is it important to also work one-on-one with a financial planner like yourself for example?
- You have been in this industry for multiple decades. Would you be able to recommend some resources online that you find to be reliable and reputable sources of information, for those that like to continue to educate themselves when it comes to financial planning, retirement planning, and investing in Canada?
Disclaimer:
This podcast presentation is for informational purposes only. No part of this presentation may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, recording or otherwise, without the written permission of BMO Investments Inc. or BMO Asset Management Inc. (collectively, BMO GAM) ).
For greater certainty, no part of this presentation may be provided to investors and/or potential investors without the written permission of BMO GAM. The information contained herein is not, and should not be construed as, investment advice and or tax advice to any individual. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance. This communication is intended for information purposes only. Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent simplified prospectus. BMO GAM undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
Leave A Response