The Allied Health Financial Podcast

Allied Health Financial: Personal Finance for Canadian Healthcare Professionals

Evidence-based personal finance education for Canadian healthcare professionals. We make complicated financial information simple and get you started on the journey to build personal wealth and reach financial independence. Discover how to budget, build an emergency fund, pay off debt, invest in your TFSA and RRSP. We’ll talk about life insurance, disability insurance, critical illness insurance, ETFs, mutual funds, high-interest savings accounts, stocks, bonds... we cover it all. We are members of the Canadian allied health community so we understand your struggle when it comes to understanding your finances, and we’ve got solutions for you. We take the guesswork out of managing your money so you can focus on what you love - helping your clients THRIVE. Managing your finances does not have to be complicated! You’re not going to want to miss this. Hit subscribe and get ready to change your life. read less
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The Costs You Don’t Want to Cut
29-11-2022
The Costs You Don’t Want to Cut
In the final episode of the fall season, we discuss the areas of your budget you want to avoid cutting down on.  Cutting costs in some areas are more likely to leave you with remorse, and they may surprise you. Your future self with thank you (3:19)Where NOT to save: Investing (4:00)Where NOT to save: Personal insurance (5:42)Where NOT to save: Personal savings (7:37)Where NOT to save: Debt Repayment (8:21)Where you should try and save (10:15)The happiness equation (11:00)

Episodes

The Costs You Don’t Want to Cut
29-11-2022
The Costs You Don’t Want to Cut
In the final episode of the fall season, we discuss the areas of your budget you want to avoid cutting down on.  Cutting costs in some areas are more likely to leave you with remorse, and they may surprise you. Your future self with thank you (3:19)Where NOT to save: Investing (4:00)Where NOT to save: Personal insurance (5:42)Where NOT to save: Personal savings (7:37)Where NOT to save: Debt Repayment (8:21)Where you should try and save (10:15)The happiness equation (11:00)
3 Ways to use Your TFSA
22-11-2022
3 Ways to use Your TFSA
We discuss three common ways to use your Tax-Free Savings Account (TFSA) and how you can maximize your returns with this tax-advantaged account. TFSA review (1:28)Tax free growth: The main TFSA advantage (3:09)The power of the TFSA: An example (4:44)How to save with the TFSA: As a savings account (6:43)How to save with the TFSA: Short term savings (9:48)How to save with the TFSA: Investing for long term growth (12:46) - Learn more about the Lite Membership - Upgrade to the Plus Membership - Episode 110: Savings Accounts and GICs
A New Way to Save for Your First Home
15-11-2022
A New Way to Save for Your First Home
The Government of Canada has proposed the First Home Savings Account (FSHA) to help you save for your first down payment. A new (proposed) registered savings account (1:15)First Home Savings Account (FHSA) (1:57)FHSA: The best of the RRSP and TFSA (3:59)What happens to deposits not used for a first home? (5:17)What’s in the fine print? (7:07)How does the FHSA integrate with the Home Buyers Plan of the RRSP? (8:25)Does unused contribution room carry forward? (10:17) - Learn more about the Lite Membership - Upgrade to the Plus Membership
How We Built This - Early Lessons
08-11-2022
How We Built This - Early Lessons
In this episode, we share our early takeaways from building and launching the new Allied Health Financial platform. Know your WHY for motivation and guidance (2:32) Our Why’s (5:15) Get LOTS of feedback (8:17) Our revised messaging: The Lite Membership (10:37) Our revised messaging: The Plus Membership (11:23) Make small calculated changes (12:48) Links: Join Now Learn more about the Lite Membership Upgrade to the Plus Membership
Is it Really Cheaper to Buy a Property Right Now?
01-11-2022
Is it Really Cheaper to Buy a Property Right Now?
Prices have come down in most major Canadian markets, but interest rates are (still) on the rise. Is this the right time to get into the real-estate market? Declining house prices versus rising interest rates (2:09)Factor Number 1: Decline home prices (2:24)Factor Number 2: Rising Interest rates (3:49)Is it less expensive to purchase a home today? No! (4:42)What if you put down the same down payment? Yes! (6:00)What if I’m purchasing a less expensive home? No! But it’s closer (8:49)What if I have a smaller down payment? No! And the effect is larger (10:23)How do today’s interest rates compare to historically? (11:14)Key take away points (12:52)What would we prefer (14:45) - Learn more about the Lite Membership - Upgrade to the Plus Membership - 118. Will You Get Burned With a Variable Rate Mortgage? - 93. The True Cost of Selling Your Home
The Loonie Hits a 2-Year Low. What Does it Mean for You?
25-10-2022
The Loonie Hits a 2-Year Low. What Does it Mean for You?
We're used to the constant fluctuations of the Canadian dollar. But what does this new low mean for your money? Exciting (personal) news from AHF! (0:55)What is happening to the Canadian Dollar? (2:04)Just how much ground has the Canadian dollar lost to the USD? (3:23)Why has the Canadian dollar dropped (7:13)How will this impact you? (10:10) - Learn more about the Lite Membership - Upgrade to the Plus Membership
Using Your Credit Card Just got More Expensive
18-10-2022
Using Your Credit Card Just got More Expensive
As of October 6th, retailers can now charge you up to 2.4% when you tap your credit card. Are your points still worth it? Companies can now pass on credit card fee to consumers (1:32)How did this come about? (5:12)What does this mean for your spending? (7:18)Are high rewards credit cards still worth their fee? (8:29)   - Learn more about the Lite Membership - Upgrade to the Plus Membership
Has Inflation Peaked?
11-10-2022
Has Inflation Peaked?
Inflation in Canada has been rising at rates we haven't seen in nearly 40 years. Have we reached the peak and what could that mean for interest rate hikes? What is inflation? (1:57)Is inflation a bad thing? (3:30)Has inflation peaked? (5:31)What does an inflation peak mean for prices and interest rates? (8:42)Are further rate increases coming? (11:58) - Join Now - Learn more about the Lite Membership - Upgrade to the Plus Membership - Episode 126: What is Shrinkflation and how is it Affecting Your Budget? - Episode 109: Why is Everything so Expensive? - Contact Us
TFSA or RRSP? These 3 Questions Will Help you Decide
04-10-2022
TFSA or RRSP? These 3 Questions Will Help you Decide
Starting to invest is crucial, but where should those early dollars go? These 3 questions will help you determine which is best for your current situation. Overview of TFSA and RRSP (3:15)Question 1: What are you saving for? (5:31)Question 2: What is your income level? (8:21)Question 3: Do you panic when you see red? (10:54)Do timelines matter? (12:46) Resources: Episode 8: The Registered Retirement Savings Plan (RRSP)Episode 9: The Tax-Free Savings Account (TFSA)Episode 54: RRSP vs TFSA - Which Account is Right For You?Get more free resources with the Lite MembershipLearn More about the Plus MembershipContact Us
The 5 Biggest Mistakes we Make as New Grads
27-09-2022
The 5 Biggest Mistakes we Make as New Grads
We all make mistakes, especially when we’re starting something new. In this episode, we talk about our biggest money mistakes as new grads so you can learn from our experience and get a head start. Not organizing our finances and lifestyle creep (1:48) Avoiding emergency funds (5:17) Accumulating high-interest debt (7:17) Hyper-focusing on student loans and waiting to start investing (9:08) The invincibility problem, waiting to buy disability insurance (13:30) Resources: Download the New Grad HandbookCheck out the Financial PlannerLearn more about the Plus MembershipContact Us
Partner Spotlight: Accounting and Tax With Airikka Passmore & Associates
20-09-2022
Partner Spotlight: Accounting and Tax With Airikka Passmore & Associates
Are you already worried about tax season? Learn how to get the most out of your taxes with our accounting and tax partner Airikka Passmore. Meet Airikka Passmore (1:05)Effective tax practice is education first (2:35)The benefits of using a personal accountant (3:47)How people have saved money with Airikka Passmore & Associates (6:37)Some of the most common tax mistakes made by health care professionals (12:23) Resources Join NowDiscover the Lite MembershipExplore the Plus MembershipLearn more about Airikka Passmore and AssociatesContact Us
Partner Spotlight: Health Insurance and More With BioBenefits
13-09-2022
Partner Spotlight: Health Insurance and More With BioBenefits
Learn about this never-before-seen insurance product available with the Plus Membership. You get health and dental insurance, virtual care, life insurance and much more at an amazing value all with no underwriting. Overview of the Allied Health Financial Health Plan (2:12)The advantage of bringing together multiple providers (4:55)Contents of the plan: Basic Life Insurance, Accidental Death, and Critical Illness (8:55)Contents of the plan: Accidental Injury (12:19)Contents of the plan: Health, Dental, and Telus Health Virtual Care (15:44)How does the AHF Benefits Plan stack up against other plans in the market? (20:29)How to enroll in the AHF Benefits Plan (22:50) Resources: Join NowLearn more about the BioBenefits insurance plansExplore the Lite MembershipDiscover the Plus MembershipContact Us
Partner Spotlight: Investing with Justwealth
06-09-2022
Partner Spotlight: Investing with Justwealth
We sit down with Justwealth to review the sign up process for Plus Members, the benefits of investing with Justwealth, and how to get started.  From discounted investing fees to a personal portfolio manager, you're not going to want to miss out on this! Bringing access to the underserved – a Justwealth and AHF synergy (1:30)The benefits of Investing with Justwealth as an AHF member (4:03)How to start the investing process (5:09)What types of accounts are available to Allied Health Financial members? (13:25)Allied Health members who are Justwealth investors have access to a personal portfolio manager (17:04)Transferring investments over to Justwealth (20:41)
Introducing the NEW Allied Health Financial Platform
30-08-2022
Introducing the NEW Allied Health Financial Platform
Welcome to the new look Allied Health Financial.  We introduce our Partners and the financial products they are bringing to the platform, exclusively for Allied Health Financial Members.  All to save you money. Introducing: The NEW Allied Health Financial! (1:22)Investing: Justwealth Financial (3:19)Professional Liability Insurance: Zensurance (5:49)Taxes and Accounting: Airikka Passmore & Associates (6:59)Health Benefits and Personal Insurance: BioBenefits (9:04)Sign up date: Tuesday September 6th (11:22)
Why WE Built This
23-08-2022
Why WE Built This
What business did two Physiotherapists from Toronto have starting a financial education platform? Re-introducing ourselves: Ryan Wells (1:15) Re-introducing ourselves: Giacomo Silvestri (2:12) Why we built this reason #1 - Lack of financial literacy (3:55) Why we built this reason #2 – Lack of access to adequate financial products (5:23) Financial education is not enough (8:41) Time to take action: Wealthcare for Healthcare (9:35) How to become a Founding Member (10:09) Resources Download the Financial ToolkitBecome a FounderContact Us   Theme Music: Pamgaea Kevin MacLeod.  Licensed under Creative Commons: By Attribution 3.0 License
What is Shrinkflation and how is it affecting your budget?
16-08-2022
What is Shrinkflation and how is it affecting your budget?
You know all about inflation and rising prices, but have you heard about shrinkflation?  Learn how this not-so-new phenomenon is affecting your daily budget.   Reminder: What is inflation (1:46)Shrinkflation: Inflations sneaky cousin (3:28)Where you are most likely to see Shrinkflation at work (5:42)In Shrinkflation, size isn’t everything (6:56)How does Shrinkflation affect you as a healthcare provider? (9:05)How the Financial Toolkit can help you fight Shrinkflation (10:34)   Resources   Download the Financial ToolKitBecome a FounderEpisode109: Why is Everything so Expensive?Episode 34: What is Inflation?Contact Us   Theme Music: Pamgaea Kevin MacLeod.  Licensed under Creative Commons: By Attribution 3.0 License
Are You Covered? Exploring Liability Insurance With Zensurance
09-08-2022
Are You Covered? Exploring Liability Insurance With Zensurance
Professional liability insurance is the most commonly purchased financial product by Canadian healthcare providers. Do you know what you're buying? Meet Ryan Insalaco from Zensurance (1:13)Who is Zensurance (2:37)What is Professional Liability Insurance? (6:15)What does your Professional Liability Insurance cover?TIP: When purchasing Professional Liability Insurance outside of an Association (10:17)How to avoid overpaying for Professional Liability Insurance (12:03)A potential out-of-pocket expense: Regulatory Defense (15:10) Resources: Download the Financial ToolKitBecome a Founder (learn more about what we’re building)Learn more about ZensuranceContact Us
Everything You Need to Know About Living Benefits
02-08-2022
Everything You Need to Know About Living Benefits
Extended health benefits, critical illness and disability insurance are essential for your financial plan.  Are you covered?  Learn more about living benefits with the President and CEO of BioBenefits Inc, Madison McKimm. Meet Madison Madison McKimm (1:16)Do you need Disability Insurance? (3:36)Why insurance is difficult to purchase online (5:10)Disability vs. Critical Illness Insurance (7:47)Underwriting: what it means for your insurance and benefits (10:43)The beauty of group plans: lower cost and no underwriting (15:14)TEASER: How we’re improving access to insurance and benefits products for you (17:09)   Resources: Download the Financial ToolKitStay up to date with the Allied Health Financial PlatformLearn more about BioBenefitsLearn more about the MadRock Financial CorporationEpisode 42: Do I Need Disability Insurance?Episode 44: Is Critical Illness Insurance Worth It?Contact Us
A Behind the Scenes Look at Robo-Advisors With Justwealth
26-07-2022
A Behind the Scenes Look at Robo-Advisors With Justwealth
We talk to The Globe and Mail's top-ranked robo-advisor about how robo-advisors work and who should use them to invest. Who is Justwealth? (0:52)Robo-advisors: How do they work? (3:57)Robo-investing - is anyone watching my back? (7:20)Why do robo-investors use ETFs vs. mutual funds? (11:52)Investing during a recession, straight from the experts (16:53)How to get started investing with Justwealth + BONUS teaser! (20:07)   Resources: Download the Financial ToolKitVisit Justwealth’s WebsiteEpisode 32: Focus on JustwealthGlobe and Mail: Presenting Canada’s cheapest robo-adviser, the best performers and the ones who don’t like Canadian stocks muchMoney Sense: A guide to the best robo-advisors in Canada for 2022Contact Us   Theme Music: Pamgaea Kevin MacLeod.  Licensed under Creative Commons: By Attribution 3.0 License
The Truth About Entrepreneurship with Emma Jack
19-07-2022
The Truth About Entrepreneurship with Emma Jack
Start a business, build a website, get rich...nope. Emma Jack of Press Play takes us behind the scenes of what it really looks like to start a business. Spoiler alert: overnight success takes a long time. Emma’s Banff Coaching Retreat (1:28)Make time for what energizes you (4:50)Press Play reorganizes its time: Balancing work and life  (9:37)Emma takes her own advice – when more is not better (13:23)Success is an iceberg (14:24)Looking for a change? Advice from EJ (18:51)What’s next for Press Play (24:47)The most important quality for an entrepreneur to have (27:10)Who’s winning? Gunner vs. Chair (28:29) Resources: Get The Financial ToolKitGet the inside scoop on what we’re doing at Allied Health FinancialPress Play Physio and PilatesPress Play with EmmaFollow Emma on InstagramContact Us Theme Music: Pamgaea Kevin MacLeod.  Licensed under Creative Commons: By Attribution 3.0 License