WCI #185: Finances in the Great White North

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 19 November 2020

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Canadian financial system is similar but not quite the same as the U.S. financial system. In this episode we talk about the Canadian retirement system, the programs they have similar to the U.S. social security system. We discuss their versions of our Traditional and Roth IRA accounts. Considering our close proximity to each other, it is no surprise that a couple of listeners have questions about working in one country and living in another as well as Americans married to Canadians and what to do about citizenship. We cover the pros and cons of those situations in this episode. For those with no connection to the Great White North we also answer other questions about separately managed accounts, over-contributing to the 457(b), marketing timing in the de-cumulation phase, UTMA accounts, and the CARES Act tax deductible student loan payment.

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Transcript

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0:00.0	This is the White Code Investor Podcast, where we help those who wear the White Code get a fair shake on Wall Street.
0:06.0	We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011.
0:12.0	Here's your host, Dr. Jim Dolly.
0:18.0	Welcome to the White Code Investor Podcast, number 185, the Great White North.
0:22.0	Can I take this mask off now, Cindy?
0:24.0	We are under government mandate here in Utah to wear masks all the time when we're around people who are outside of our family.
0:31.0	Cindy's technically not in my immediate family, and so we actually just finished a White Code Investor staff meeting.
0:38.0	And all wore masks in, all six of us that were in person there and a couple of people online as well.
0:44.0	So we're doing our best to follow the directions of our beloved governor that he has given us recently.
0:52.0	Pretty locked down here in Utah again, the businesses are open, but the hospitals are full.
0:58.0	I got a bunch of borders in my ER with COVID, so I'm fully supportive actually of our current mandates in Utah, and hopefully we can get through this.
1:09.0	Talk about that a little bit more in a second.
1:11.0	Those of you who are veterans out there, thank you for your service.
1:15.0	I always like veterans day a little bit better than Memorial Day because we can celebrate you even if you didn't die on Veterans Day.
1:22.0	And so it always feels a little bit happier than Memorial Day to me.
1:25.0	So those of you who have served our country in the past, thank you very much for doing that.
1:30.0	Well, I'm recording this on the 11th. It's going to run on the 19th.
1:35.0	It seems appropriate to say a few things about the recent election.
1:39.0	You know, I know everyone's kind of heard a little bit more than they really want to hear about the election.
1:44.0	It sounds like our next president's probably going to be Joe Biden.
1:48.0	Nothing I suppose is ever final until all the legal ramifications have run their course and the electoral college does their voting thing.
1:55.0	But for all intents and purposes, I think the presidential election is over and decided for Biden.
	...

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