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beyond MD with Dr. Yatin Chadha
beyond MD bridges the gap between medical training and financial literacy.
Led by mid-career Canadian radiologist, Yatin Chadha, beyond MD empowers practicing physicians, medical trainees, and other professionals to build confidence and clarity around money.
Episodes feature interviews with subject experts to help listeners gain knowledge around topics like professional corporations, investing, insurance, pensions, real estate, trusts, and estate planning.
Yatin also frequently interviews his own colleagues to shed light on valuable life and money lessons learned over time.
Tune in to beyond MD (episodes are bi-weekly) to build your financial acumen and live your best life today.
beyond MD with Dr. Yatin Chadha
Everything You Need to Know About the First Home Savings Account (FHSA) with Stefan Scott
It's my pleasure to host Stefan Scott, a fee-for-service (flat-fee) Financial Planner. He is a valued voice on the Physician Financial Independence Facebook group & is exceptionally well versed on the First Home Savings Account (FHSA).
Discussion points:
- Stefan's background (6:42)
- FHSA overview (9:10)
- Eligibility, definition of first time home buyer (10:27)
- How long can an account stay open for? (12:54)
- Carrying forward contributions, over contribution penalties (13:36)
- Tax deductions (15:26)
- Transfers from FHSA to RRSP & vice versa (17:08)
- Are home furnishings eligible? (19:25)
- Spousal transfers (21:31)
- the right way to make transfers (22:24)
- FHSA types, eligible investments, investment strategies (23:40)
- Foreign withholding tax exempt? (28:28)
- Strategies if you don't buy a home (29:37)
- FHSA vs RRSP Home Buyer's plan (33:19)
- What happens to FHSA at death? (36:06)
- Qualified withdrawals & withdrawal guidelines (37:44)
- Closing thoughts on FHSA and beyond (42:40)
Stefan Scott:
HouseCallsFP@gmail.com
https://www.youtube.com/watch?v=s_f78sa5vVk&t=15s
Yatin Chadha:
https://www.linkedin.com/in/yatin-chadha-29074b109/
beyondmdpodcast.com
beyondmdpodcast@gmail.com
https://www.youtube.com/watch?v=Rd90dJueAcg
DEFINITIVE CRA WEBSITE on FHSA: