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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Next Step:
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See you next week!
Invest a Lump Sum or Bit-by-Bit. Which Is Smarter?
Invest a Lump Sum or Bit-by-Bit. Which Is Smarter? You have a lump sum of cash and you’re trying to figure out how to invest it. The stock market seems pretty turbulent at the moment, so you may be wondering if you should invest your lump sum all at once or bit-by-bit. Maybe you got a big bonus, a lump sum from Smith Manoeuvre, or a large amount of money to invest. What to do? In my latest video and podcast episode, you’ll learn the pros and cons of both strategies, so you can decide what’s right for you. I hope you…
Read MoreBeware of Nice Advisors
I’ve talked with thousands of Canadians that will not have the life they want because their advisor gave them bad advice. Why do they stick with their advisor? I’ve heard it over and over again. They say: “because he’s a nice guy”. The advice here is, you need a competent advisor & real advice, not a nice advisor. A competent advisor might be really great to work with too, but this is the type of advice you need, so you should be wary of who you trust with your finances. In my latest video and podcast episode I give you ideas on…
Read MoreOptimism is the Only Realism
Optimism is the Only Realism. That’s my belief, and you’ll learn why in my latest YouTube video and podcast episode. I feel compelled to talk about optimism for 2 reasons: 1/ Optimism is absolutely necessary for financial success – effective investing and financial planning. You need to feel you will be better off in the future you are building and you need to be confident in your investments long-term. 2/ Many young people are pessimistic today. They believe the world is in decline because of issues like climate change, and that the world is unfair with inequality. Watch and listen to find…
Read MoreUsing Your Corporation As Your Retirement Fund
Can you fund your retirement from your corporation? That’s the question I answer in my latest video and podcast episode specifically for business owners. This is part # 2 of the video I did last week, where I go deeper into tax-efficient investment strategies when owning a corporation. It may seem complicated (if you’re talking to your accountant), but this video breaks down basic and advanced principles, to make it easy for you to plan your retirement. Watch it to find out: I hope you enjoy it! Ed
Read MoreWhy Most Financial Plans Fail
Many people who work with us to figure out their retirement plan, have created a financial plan before. You can get a financial plan from a bank, online methods, financial advisors or fee-only financial planners, but often these financial plans fail. They do not give you the life you want. In my latest video and podcast episode, I outline what is wrong with most financial plans, how we create retirement plans with our clients, and exactly what you need to be confident in your future. Watch the video to find out: I hope you enjoy it! Ed
Read MoreHow to Reliably Maximize Your Retirement Income – Is the “4% Rule” Safe?
You want to retire soon. What is the best way to setup your retirement income to give you the maximum income that will reliably last the rest of your life? Many financial planners use the “4% Rule”, which says that you can, for example, withdraw $40,000/year plus inflation for life from a $1 million portfolio. Is that safe? I studied 146 years of investment history. The conclusions are surprising: Prefer an overview? Like videos or podcasts? Check out our whiteboard video and podcast episode, or read the full post below! “Conventional wisdom” Let’s look at the typical advice given to seniors about…
Read MoreYour FREE passes: See my talks at the #1 online event – Canadian Financial Summit 2023
The online Canadian Financial Summit is coming up the week of October 18-21. It’s the #1 personal finance event of the year. As a reader of the Unconventional Wisdom blog, here are your FREE passes for a limited time. With these FREE passes, you can watch all the talks. You can also offer your friends and family FREE passes if you forward them this blog post. I’ll be one of the speakers again this year with three talks (see below), and I’ll be joined by over 35 other Canadian personal finance and investing experts such as Rob Carrick from the Globe and…
Read MoreWhy the Economy Is Not Relevant to Investing
Right now everyone is talking about the economy… Interest rate hikes. High inflation. Out-of-control government spending. Decline in global trade. Possible looming recession. So what do you do if you have money in the stock market? In my latest video and podcast episode, you’ll learn why the economy is not relevant to investing, and how it might be the best time to invest in stocks. I hope you enjoy it! Ed
Read MoreFinancial Security Comes From a Huge Nest Egg
Financial security comes from a huge nest egg
Read MoreRisk of Bonds To Your Retirement
In my latest YouTube video and podcast episode, I give you insight into what I advise my clients and why I declare the death of bonds as an investment. It’s time for most investors to stop investing in bonds. Including balanced funds. Here are just some of the topics I cover in the video: Ed
Read MoreSelf-Made Dividends – Dividend Investing Perfected
Dividend or income investors, here are the fundamental facts on how to save tax. Would you like to receive dividends of any amount you want from your non-registered investments, and pay less tax than on ordinary dividends? You can easily do this with a little planning and proper understanding of investments. Self-made dividends are a simple concept with profound benefits. Dividend investing has been very popular recently, but self-made dividends are better than ordinary dividends in essentially every way. They have lower taxes, better investment options, and are much more flexible for giving you income when you need it. When clients retire…
Read MoreTop 10 Reasons Why We Don’t Invest in Canada
While I love living in the Toronto-area – it’s a great and vibrant place to spend time, I choose not to invest in Canada. You may not realize that Canada has only 3% of the world’s stocks, with mainly small companies with lower growth than global or US stocks. Canada is no longer a growth country. This means that you aren’t getting a diversified portfolio, so we choose to invest globally or in the US. For more details on this way of thinking and investment strategy, I’ve broken it down for you. Watch my latest video and listen to my podcast episode…
Read MoreThe 3 Keys to Building Wealth
Do you ever find yourself unsure about what to do with an investment decision? Should you buy now or wait? Is this a good time? Should I buy something safe or invest for growth? You are not alone. Most people struggle with investment decisions because they think short term and do not have faith in the market. This leads them to make the single most common investing error
Read MoreFinancial Quackery
“Financial Quackery” is one of the main reasons most people struggle financially. This video and podcast episode is my attempt at humour to explain what to look for to get real advice, rather than the typical industry foolishness pretending to be advice. If you prefer to read it, here is a transcript of the video: Importance of a Comprehensive Plan with One Advisor What do you mean by “financial quackery”? Quackery is the reason people have trouble getting real advice. It’s everywhere in the financial planning world. If you get financial “advice” from someone that doesn’t look at your entire financial picture…
Read MoreCash Dam – Best Mortgage Strategy if You Own a Small Business or Rental Property
This article was originally published on November 20, 2017. We have since made updates to it based on relevant, new information. We’ve also added a video and podcast episode that articulates the content in the article. What Is the Cash Dam and How Does It Work? Cash Dam is a simple but powerful concept to help you make your mortgage tax-deductible if you own either a small business or a rental property. It’s an especially attractive option if you are familiar with the Smith Manoeuvre or other tax minimization strategies. Cash Dam (sometimes referred to as the “cash flow dam” is a…
Read MoreReflecting on My Life & Progress Towards My Mission in Life
Today I’m reflecting on my life and progress towards my mission in life – to educate Canadians about what really works to achieve financial security & freedom. I have seen thousands of Canadians struggle with money. I see bad or suboptimal advice based on conventional wisdom all over the financial industry and to a lesser degree in the financial blog world. I sincerely hope I can influence you to have the financial security & freedom you can have with smart choices and a Plan. I hear from people all the time how my advice has changed their life. This is so fulfilling…
Read MoreMake Your Retirement Comfortable with the “8-Year GIS Strategy”
The “8-Year GIS Strategy” is one of the best strategies to turn a modest retirement into a comfortable one for you. I am finally releasing it! For years, this is one of a few strategies that I have quietly used with select clients. Prefer an overview? Like videos? Listening to podcasts? Check out our whiteboard video, podcast episode or read the full post below! It has 5 huge advantages: 25-50% more income can be the difference between a tight, stay-at-home retirement and a freedom retirement with lots of travel and fun! To make it work, you usually need 2 things: One of…
Read MoreNew OSFI Mortgage Rules – How Do They Affect The Smith Manoeuvre?
You may have received a letter from your bank or heard people talk about the new OSFI mortgage rules. We’ve had a lot of our clients contacting us about it as well, since the new rules start this year for mortgages. These new rules will affect the Smith Manoeuvre in some ways, so it’s important to understand exactly what you should do. Watch & listen to find out: What is the Smith Manoeuvre? What are the new OSFI rules? Readvanceable mortgage (CLP) will not readvance $1 for $1 if your total mortgage limit is more than 65% of your home value. E.g.,…
Read MoreMillionaires in Poverty
This may sound like a dumb topic. Why would a millionaire live in poverty? We see it all the time, though. People living in a paid off home worth more than $1 million while living on an income of $20,000/year before tax. I believe this is caused by the belief that your home is your retirement. Millionaires in poverty have 5 options – all 5 of which are stupid. Watch the YouTube video or listen to my podcast episode to find out: Ed
Read MoreThe Ultimate Strategy for Millennials – Lifecycle Investing
If you are under age 40 and saving to become financially independent, the ultimate strategy for you to understand is Lifecycle Investing. It has worked 100% of the time in the last 150 years and increased portfolios at retirement by an average of 63%. Results are so consistent because it reduces one of your biggest financial risks, “Last Decade Risk”. Lifecycle Investing is not for everyone, but understanding the concept can change your entire approach to managing your money. Prefer an overview? Like videos? Check out our whiteboard video, podcast episode, or read the full post below! To understand Lifecyle Investing, first…
Read MoreDebunking “Sequence of Returns Risk”
What is the actual risk of running out of money if you start retirement when the market crashes? This is a question on the minds of many retirees. Especially because a lot of financial advisors talk about “Sequence of Returns Risk”. But worrying about this can lead to worse results for many retirees, as well as inferior portfolios, lower returns and a less reliable retirement. In this blog post I’m going to debunk the “Sequence of Returns Risk” and give you solutions, including a dynamic spending rule that I give my clients. What you will learn: What is “Sequence of Returns Risk”?…
Read MoreHow To Choose Your University Specialty
If you or someone you know is in high school or about to apply to university, then this video is a must! After being a financial planner for almost 30 years, I’ve seen the finances of thousands of Canadians, and the careers that pay the big bucks. In this video and podcast episode you’ll learn how to choose your university specialty, so that you get into a career that sets you up for success in life. Don’t waste your degree! Learn: I hope you enjoy it! Ed
Read More15 Top Principles of Money Most People Get Wrong
Are your finances where you want them to be? If not, there’s a very good chance that one of these 15, or maybe several of them are the underlying root cause. I’ve seen the finances of thousands of people and these are the principles that I find people most commonly get wrong, that have a major effect on their lives. In my latest video and podcast episode you’ll learn about these 15 principles in much more detail. And when you follow them, you’ll create a life where you are in the driver’s seat when it comes to your finances. THE TOP 15…
Read MoreWhat Is the Highest Quality Financial Planning Advice?
PART # 1 PART # 2 *Please Note: For some reason the video cut-off, so we have included the second half of the video in Part #2. How do you know you’re getting the highest quality financial planning advice? I recently asked my social media followers and blog readers what financial topics you would like me to talk about, and we got an overwhelming number of responses – so thank you! We got a few questions about what is the highest quality financial planning advice and about our services and why we do them the way we do. The key thing is…
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