Should you invest in a TFSA or an RRSP? It’s a question we might all ask but one that’s especially relevant for physicians just starting their careers. In this MD Quick Clinic, you will see how an MD Advisor will help you: • Understand the unique tax advantages of RRSPs and TFSAs • Define your short- and long-term goals • Balance TFSAs and RRSPs with other financial opportunities that are available to physicians • Design a portfolio with your specific situation in mind • Provide the sound advice you need to invest wisely every step of the way MD Financial Management is owned by the Canadian Medical Association (CMA) and offers expert total financial management advice to physician members of the CMA, from medical students and residents to practicing and retired physicians.
Three Things You Should Know About RESPs
A post-secondary education is an important asset for participating in a modern economy, but getting one can...
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Six financial challenges for new physicians
Why you may want to diversify with emerging market equities
4 financial challenges for new physicians
Reducing Your Debt: Key Questions and Answers
What are some tips for reducing your debt? Learn more about debt consolidation, credit reports, credit history, credit scores and whether you should pay off debt or invest.
Proposed Tax Changes, At A Glance
Wondering what the proposed tax changes on private corporations are? Here is MD Financial Management’s quick snapshot of the proposals. 1. Income Sprinkling Pre-2017 tax rules ...
MD Quick Clinic – Financial Advice For Physicians New In Practice
As you transition from residency to practice, your financial planning needs will likely change. In this MD Quick Clinic, three common areas of concern for new in practice physicians are addressed: - H
Is incorporation the right choice?
Dr. A, a 37-year-old family physician in Toronto, wonders whether incorporation is a worthwhile strategy.
What Kind of MD Investor are You?
How One Physician Used Her Locum Experiences to Get a Financial Head Start
A locum tenens is an ideal way to gain experience in a variety of settings while giving yourself a financial head start, but it also comes with some unique financial challenges.
TFSAs: Tackling Your Most Frequently Asked Questions
Here are the most commonly asked or frequently asked questions about tax-free savings accounts (TFSA). How to open a TFSA, what to hold in a TFSA, withdrawing from a TFSA.
Mindfulness Techniques to Help Physicians De-Stress
Are you overwhelmed, stressed, or distracted by thoughts of the past or the future? Mindfulness can help to re-focus you on the present moment and bring a sense of calm to your mood.
Make The Locum Life Work For You
Choosing to work a locum tenens is an attractive option for many physicians. For some, it’s a temporary measure to earn income and pay down debt while they look for a more permanent position.
Practising and Saving
Reducing financial burdens and meeting financial obligations. You’ve reached the middle of your medical career. You might be in your peak earning years, but you still have a lot to save for – your ch
Three Things You Should Know About RESPs
A post-secondary education is an important asset for participating in a modern economy, but getting one can be expensive. When you add up the costs of tuition, school-related fees, books,...
RRSPs and TFSAs in Action: Case Studies at Different Life Stages
These case studies look at how you can effectively use RRSPs and TFSAs to maximize benefits by looking at key factors such as age, career stage of physicians or specific financial goals.
What Young Physicians Are Asking About Private Corporations
Medical students, residents and new physicians are closely watching the private corporation issue and wondering about its impact on their future career. Since the federal government proposed tax...
Proposed Tax Changes to Private Corporations: More Questions Than Answers
The federal government’s proposed tax changes for private corporations continue to draw debate during this 75-day public consultation period ending October 2, 2017. After this date, the...
How Can I See My Investment Performance and Fees?
Financial institutions are now required to provide more detail for investors on the fees and compensation they collect, and on investment performance. At MD, we are going beyond the minimum requiremen
A Physician's financial life journey
Starting Your Practice