Ep 17: Live at PFI 2024

Ep 17: Live at PFI 2024

From The Money Scope Podcast by Benjamin Felix & Dr. Mark Soth

November 15, 2024 · 1h 2m · Episode 17

About this episode

The episode discusses financial strategies for physicians, focusing on incorporation, tax efficiency, and investment priorities.

Today, we bring you another live episode, this time from the Annual Canadian Physician Financial Wellness Conference. We answer a series of compelling audience questions — drawing on information from past episodes — that meaningfully impact both sides of the client-advisor relationships. To kick things off, we break down the best time to incorporate, the downsides of incorporating too early, getting money out of your corporation tax efficiently, and common misconceptions around tax efficiency. Next, we discuss the changes in capital gains tax and if it still makes sense to incorporate despite the increase, whether you should pay debt or invest as you juggle all your different priorities, and when to take dividends versus salary. We also get into the topic of corporate bloat and how to address it through measures like smoothing out consumption, why you need to know your notional account balances, insights on dividend-paying ETFs, and advice for alternative investments, including real estate. To close, we discuss how you can determine when you've reached financial independence and how a professional financial planner can help you make that call, along with a few final audience…

People in this episode

Hosts: Benjamin Felix, Dr. Mark Soth

Topics covered

  • financial independence
  • tax efficiency
  • incorporation
  • capital gains tax
  • debt vs investment
  • corporate bloat
  • alternative investments

Keywords

  • financial planning
  • incorporation timing
  • tax strategies
  • dividends vs salary
  • capital gains
  • debt management
  • real estate investments

Mentioned in this episode

Organizations: Canadian Physician Financial Wellness Conference

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