Financial Planning as a US Citizen Living in Canada
There are plenty of tricky little financial planning traps for US citizens living in Canada, and they change often enough to be difficult to stay on top of, if you ever get on top of them in the first place. I’m not on top of them and never will be.
If you’re a US citizen, please for the love of all that’s holy find and work with a financial planner who knows cross-border planning in and out. You don’t want them learning on the job if you’re the job they’re learning on; the consequences of getting it wrong are too high.
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15: So You're Self-Employed
Maybe you’re tired of your labour being exploited for someone else’s profit, or how toxic your workplace is, or being evaluated for the quantity of time you spend in the office instead of the quality of the work you do.
If you’re thinking of starting what the kids these days call a side hustle, or what people at my advanced stage of life call “a business”, this episode is for you.
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14: Life & Disability Insurance
Nobody wants to talk about insurance, at least, not with the people who sell it hard, and man - I get it. But if you depend on your ability to work to pay the bills, or if other people depend on you for their food and shelter, you have to at least think about it.
Today, we’re taking five minutes to think about life and disability insurance that you own yourself, as opposed to the group policy you might be part of through work).
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13: Tax Free Savings Accounts (TFSAs)
If you’re in a position to put money away for the future, knowing the basics of Tax Free Savings Accounts and Registered Retirement Savings Plan can help you decide what kind of account makes the most sense…for you, specifically.
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12: Registered Retirement Savings Plans (RRSPs)
If you’re even a little bit interested in money, you’re going to encounter RRSPs. They’re everywhere, especially during RRSP season, that 60 days at the beginning of the year when everyone, including your uncle, is trying to get you to contribute.
RRSPs aren’t a bad thing. They’re not a good thing. They’re a tool that might be useful to you, and the more you know, the more useful they can be.
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