Unconventional Wisdom YouTube Channel
Welcome to the Unconventional Wisdom YouTube Page. The show about the most effective methods to achieve financial security & freedom. Find out what really works. Insights are based on in-depth experience - from a fee-for-service financial planner, tax accountant, Canada’s #1 financial planner blogger & your host, Ed Rempel.
This channel is about achieving financial freedom & security in real life. It’s often very different from what most people talk about. Few financial planners actually write detailed Financial Plans. I have written more than 1,000 professional, custom Financial Plans, and worked with many clients to achieve their life goals. You can listen to everyone else – and then come here to find out what works in real life. Unconventional wisdom – based on experience.
This channel has unconventional wisdom insights on many topics. Some of my favourite topics are:
- How to set & achieve your financial goals and achieve what you really want in life.
- FIRE – How to achieve financial independence & retire early.
- The outlook & attitude you need for financial success.
- Many topics on how you can minimize tax over your lifetime.
- Effective strategies that can be a huge benefit for you, such as the Smith Manoeuvre, Rempel Maximum, Lifecycle Investing, RRSP Top-ups, RRSP Catch-up Strategy & the 8-year GIS Strategy.
- How to set up a reliable retirement income with the least tax & most government benefits.
- How to invest for returns above the indexes.
- How to easily outperform investment advisors & robo-advisors.
- Money myths that block your financial freedom.
- Any interesting financial planning topic. I take requests.
“Unconventional Wisdom YouTube Channel”
I plan to post one every Thursday. Be the first to hear my new Unconventional Wisdom posts. Subscribe to my blog, YouTube channel or podcast.
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See you next week!
Gold Goes Down on Inflation. Why Doesn’t the Industry Know This?
Gold goes down on inflation. Why doesn’t the industry know this? This is one of the most common and wrong conventional wisdoms. The conventional wisdom is that Gold protects you from inflation, so if we have high inflation Gold should be up. It should maintain its value. The problem is – this isn’t true and hasn’t been true for decades. So why does the investment industry keep promoting this idea? In my latest video and podcast episode I give you details on why you may have been told to invest in Gold, and what I suggest instead. Watch or listen to find…
Read MoreWhat is a Hedge Fund? Inside the Semi-Secret Hedge Fund World
20 years ago I took the most fascinating investment course, and by far the most in-depth. The course made me a “Certified Hedge Fund Specialist” (CHFS). I loved it so much I received the top mark in Canada. From the course and meeting with hedge fund people, I’ve learned the ins and outs of the Hedge Fund World, which to many, seems like a secret club. In my latest video and podcast episode, you’ll get a sense of what this world is like, insight into the categories of hedge funds and major hedge fund stories in movies. Should you invest in a…
Read More6 Key Lessons Learned as a Fee-For-Service Financial Planner – Talk With Ellen Roseman’s Investment Club
I was honoured to be invited by Ellen Roseman to speak with her Investment Club about the 6 key lessons I have learned as a fee-for-service financial planner. They have had investment guest speakers, but never someone just talking about financial planning. Ellen Roseman is a journalist who sticks up for ordinary Canadians. Her personal finance & consumer columns appeared in the Toronto Star for 20 years, she was the Star’s business editor, a columnist for the Globe and Mail, associate managing editor of the Globe’s Report on Business, author of 4 books, has a podcast, and she’s been teaching courses on…
Read MoreYour Corporation – What You Need To Know (If You Don’t Understand Your Accountant)
Do you own a business? If yes, then you’ll love my latest video and podcast episode. I cover the few things that you really need to know about corporations. You’ll learn: I hope you enjoy it! Ed
Read MoreThe 6 Steps to Become Financially Independent
What will it take for you to become financially free? To have enough money that you never have to work again? This video and podcast episode is my insight into the few key ideas you really need to know. It’s an overview to give you the big picture of what really works. Some of these ideas are not conventional wisdom. They are the ideas that give you results over time. I learned these 6 steps from working with more than 1,000 families to create detailed, personal plans for them to become financially independent. I am also a fee-for-service financial planner, tax accountant…
Read MoreHow to EASILY Outperform Robo-Advisors
It is EASY to outperform robo-advisors? Why? They don’t even try to outperform. They try for: “Reasonable return with less risk”. You would think robo-advisors would just invest in a few broad indexes, but often they don’t. And they require you to invest in bonds no matter how high your risk tolerance. Robo-advisors are big investment companies, not financial planners. They are more likely to lose a client because of a 30% 1-year market decline than 10 years of lagging the index. So, they focus on market fluctuations, not your life goals. This makes them use “performance drags” that typically reduce their…
Read More5-Year Fixed Mortgage Trap
The average Canadian wastes $22,000 after tax during their life for every $100,000 of their mortgage and takes 38 months longer to pay it off, according to a study by Moshe Milevsky. This is because of taking 5-year fixed mortgages instead of variable. They are marketed as being safe and a good protection against a sharp rise in interest rates. The reality, though, is that they are nearly always a huge waste of money, because the interest rate is nearly always higher and you lose your negotiating power for five long years. From 1975-2019, 1-year fixed mortgages saved money 100% of the…
Read MoreSmith Manoeuvre or Smith Maneuver?
Why the two spellings and which is correct? This strategy (which I’m most known for), helps Canadian homeowners make their mortgages tax deductible in a simple way. What’s the proper spelling? Who pioneered this legal strategy? Does it work in Quebec? Can you use it if you live in the United States? All these questions you’ll get answered in my latest video. Watch the video or listen to the podcast to find out: I hope you enjoy it! Ed
Read MoreAsset Allocation Loss Ratio (AALR) – What Is It & How Does It Help You?
When you go to any investment firm, they require you to fill out & sign a Risk Tolerance Questionnaire of some kind. The purpose is to prevent you from investing too aggressively. This can be important, because you might sell a more aggressive investment when it is down and lose money. However, there are 2 important questions: – What prevents you from investing too conservatively? – Can you achieve your life goals with the more conservative investments? These are critical questions, since almost nobody can retire comfortably with a typical balanced portfolio with 40-50%…
Read MoreRempel Maximum – 5 Steps to Becoming a Multi-Millionaire
Remember the show “Who wants to be a millionaire?” Are you the kind of person that wants to build some serious wealth? Live an exceptional life? Be financially free? I don’t mean just a comfortable amount. I mean a lot – like being a multi-millionaire. The truth is, average people can become very wealthy just by managing their money for maximum growth. Prefer an overview? Like videos? Check out our whiteboard video, podcast episode, or read the full post below! The chart is based on “The Story of Joe & Rich”. This story is an extreme version of the life of an…
Read MoreHow to EASILY Outperform Index Investors
It is EASY to outperform index investors? Why? You would think that people that consider themselves “index investors” would just own 1 or 2 broad indexes and try for the index return. However the ones I see usually do not invest this way. Most of them have suboptimal portfolios that may contain: 1/ Bonds – They usually invest partly in bonds, even though studies show that over 20-year periods, equities (stocks) are more reliable. Equities have a lower 20-year standard deviation after inflation than bonds. 2/ Home country bias – They invest in Canada because it sounds safer, even though returns have…
Read MoreGambling, Speculating, Saving & Investing. What’s the difference?
How should you invest your money? If you don’t invest wisely, it will be hard to fund your future. There are always new areas you can put your money into, but are they worthwhile long-term? In my latest video and podcast episode, I look at all the possible areas to invest your money and fit them into 4 categories: gambling, speculating, saving, and investing. Knowing the expected return & risk for each will help you decide what’s the most reliable for you to be confident in your future. I specifically talk about: I hope you enjoy it! Ed
Read MoreHow to Easily Outperform Financial Advisors, Robo-Advisors & Index Investors
Financial freedom is what we all want. We talk to people about their finances all the time and most people just want to know that their money is there, and they can live their life the way they want, but very few Canadians actually get there. Why? Most Canadians are not financially secure because of sub-optimal investments and focusing on the wrong risk. In my latest blog post, YouTube video, and podcast episode I’m going to show you how to outperform all these methods: Financial Freedom & Financial Security Sub-optimal investments. Focusing on the wrong risk. Why is good performance important? Modest…
Read More2 Things You Must Focus on to Be Financially Secure
Do you feel financially secure? What would it take for you to build a huge nest egg to become financially secure? Conventional wisdom says it’s mostly about investing better. It suggests you should focus on getting a higher return or lower fees. Prefer an overview? Like videos? Listening to podcasts? Check out our whiteboard video, podcast episode, or read the full post below! My experience, though, is surprisingly completely different. I have seen the full finances of thousands of people. The ones focused on investing usually had small portfolios. I call these people “performance maniacs”. This is a broad generalization with lots…
Read MoreRRSP Gross-up Strategy – Easily Contribute 40-70% More to Your RRSP (2024)
The RRSP Gross-up Strategy is a relatively simple concept that can help you contribute 40-70% more to your RRSP, without using any more of your cash. Do this every year and you can retire with 40-70% higher income for life! RRSP Gross-up Strategy (2024) – Easily Contribute 40-70% More to Your RRSP Tax refund options 1. Spend it. 2. Invest it. 3. RRSP Gross-up Strategy. Your Tax Refund RRSP Gross-up Strategy Instead of contributing your tax refund: Need to know: Marginal Tax Brackets (2024) Major Tax Brackets (Ontario 2024) From To …
Read MoreRRSP Gross-up Strategy – Easily Contribute 40-70% More to Your RRSP (Updated)
Wouldn’t it be great if you could save a lot more for your future without affecting your day-to-day cash flow? One of the main things you learn from your retirement plan is that you need a lot more to retire comfortably than you may have thought. But with all the day-to-day expenses, it can be difficult to find the money to contribute as much as you would like to your RRSP. The RRSP gross-up strategy is a simple strategy that can be a game-changer for you. It can enable you to easily contribute 40-70% more to your RRSP – every year. The…
Read MoreTax Planning for Parents
Are you a parent? If yes – you’re probably paying a lot more tax. Parents are often in higher tax brackets than non parents. This means your planning must be diligently looked at, as it can affect your RRSPs, deductions, and more. I’ve talked about this topic before on my blog, but this is the updated version. In my latest YouTube video and podcast episode you’ll learn: Why are effective tax rates higher for parents? How does the Canada Child Benefit (CCB) work? Why is the CCB clawback a game-changer for your tax planning? Gives you higher tax savings for tax deductions:…
Read MoreWhy Simple Investment Stats Don’t Give You Good Returns
If you’re investing in equities, you may be using various investment data software like Morningstar. The problem? Investment data often gets misused. This is because you may be looking at short-term stats and ratings from only the last 1-5 years. It takes a lot of effort looking at investment stats, but most people who do this incorrectly, don’t get good returns. In my latest video and podcast episode, you’ll learn how to look at long-term data and how to use investment data effectively. I hope you enjoy it! Ed P.S. In my video I mention an article by Warren Buffet called: “The…
Read More5 Steps for You to Become Wealthy
One of the really cool things about my job is that I get to meet a lot of wealthy people. I get to see what kind of people they are and what their life is like. What I find really rewarding though is to take people whose lives are struggling or just regular income earners and put them on a path to become wealthy. In my latest blog post, YouTube video and podcast episode I’m going to answer the most common questions I get about creating wealth, and how YOU can become wealthy. You’ll learn: How much do you need to be…
Read MoreSmith Manoeuvre – Is Your Mortgage Tax Deductible?
What is the Smith Manoeuvre and how do you do it the right way?The Smith Manoeuvre is a strategy where you borrow against your home to invest for your retirement. It converts your mortgage over time into a tax deductible credit line.To do it the right way, there are three key points:
Read MoreTFSA or RRSP? Cutting through the Confusion (as seen on Money.ca)
Here is my article from Money.ca… When it comes to choosing between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP), there are plenty of details to keep you up at night. It’s important to look at the pros and cons of each plan, so you can develop a financial plan that’s right for you. Prefer an overview? Like videos or podcasts? Check out our whiteboard video, podcast episode, or read the full post below! Your personal Financial Plan should include the income per year you will need after you retire to have the retirement lifestyle you want. Your…
Read MoreDividend Investing Is a Brain Fart
Dividend investing is a brain fart! The entire concept is your brain playing tricks on you. I know that thousands of people like dividend investing. In fact there are hundreds of blogs dedicated to it. Dividend investing may sound like a solid and steady way to invest. But it’s a brain fart! In my latest YouTube video, podcast episode and blog post, you’ll learn: Definition: Dividend investing: “The odd belief that taking money out of your investments does not take money out of your investments.” – Ed Rempel Sell shares: …
Read MoreWhat’s Important About Money to You?
Money: it impacts so many aspects of your life. How you handle it, save it, and spend it can say a lot about you. Ask yourself: “What’s important about money to me?” 1 Prefer an overview? Like videos? Like podcasts? Check out our whiteboard video, podcast episode, or read the full post below! I have asked this question to thousands of people in the last 20 years. Every answer is unique. Understanding how you feel about money is the first step in an effective financial plan to create the life you want. It’s not about the money – it’s about your life.…
Read MoreThe World is Getting Better All the Time
As we look forward to the holidays and 2024, one thing I know for sure is: “The World is Getting Better All the Time”. Every generation of young people thinks the world is getting worse, but the world is dramatically better in every important way than 100 years ago. For example, 170,000 people are lifted out of extreme poverty every day for the last couple decades. On average globally, humans have better technology, are richer and live better lives all the time. I believe we should go into 2024 with the optimism that it is part of the long-term trend of “The…
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