This Might be The Most Important Blog I Write All Year

Hi all, I’m excited to get this month’s blog out to you. December has roared in. You know that line everyone tosses out in the hallway or at a networking event: “I can’t believe it’s already December.” It’s true though. The years fly by, life keeps happening, and somehow we blink and it’s almost 2026.

My Instagram has been growing a lot lately. A few posts I thought were simple suddenly took off. It reminded me of something important. Most people aren’t looking for complicated charts or twelve-step strategies. They want the things they should know, broken down into clear steps that make sense.

So today I’m sharing 20 insights from someone who came into the financial industry from the outside. These are things I wish more Canadians heard earlier, and my hope is that they help you get clearer, more confident, and more intentional with your financial future.

Let’s get into it.

1. Is the RRSP a scam?

I hear this one a lot. It’s healthy to question systems. You should. Here’s the truth: the RRSP isn’t perfect, but it’s a strong tool when used properly. You get a tax deduction upfront, your investments grow tax-deferred, and you pay tax later when you withdraw at retirement. The power is in the gap between your tax bracket today versus your tax bracket later. If you use it strategically, it can save you thousands.

2. The TFSA is my favourite wealth-building tool.

It’s tax-sheltered, grows tax-free, and withdrawals aren’t taxed. Your room is cumulative, meaning if you haven’t used it, it’s waiting for you. If you invest properly, the TFSA alone can get you to seven figures over time.

3. Whole life insurance isn’t a retirement plan.

I love whole life when your registered accounts are maxed and you want a tax-efficient estate and cash-value tool. It’s not magic and it’s definitely not “infinite banking.” Be careful with American content. It doesn’t apply to Canadian rules. Buying whole life for a child can be a powerful generational wealth tool. If you missed my breakdown, grab my free PDF here.

4. Most people never hear about Critical Illness insurance.

I didn’t hear about it until my 30s. CI gives you a tax-free lump sum if you’re diagnosed with a covered condition like cancer, heart attack, or stroke. You can use the money for anything. Lock it in while you’re young and healthy. It's often the missing piece between disability insurance and your health benefits.

5. Your ability to work is your biggest asset.

Not your home. If income stops, goals stop. Proper disability insurance matters, especially if you're self-employed or don’t have coverage at work.

6. Don’t fear investing.

People take on huge mortgages without blinking, but feel scared to invest with a 25-year horizon. Historically, the S&P 500 has returned 8 to 10% annually over the long term (source: BlackRock).

Your odds of positive returns increase the longer you stay invested:

• 1 year: 75% chance of a gain
• 5 years: 89% percent
• 15 years: 99.8% percent

Stop letting your TFSA sit in cash. And never keep your RRSP in cash unless you’re purposely waiting for something short term.

7. Fees always get people fired up.

Advisors get paid like any other professional. If you want to DIY, go for it. Most people who try eventually realize they’re too busy being doctors, lawyers, engineers, business owners, government workers, nurses, therapists, or real estate agents to monitor their plan. Do your research and make an educated choice.

8. Think household strategy, not individual accounts.

If you’re a couple, think combined income, tax brackets, savings, and spousal strategies. You can do so much more when you optimize as a unit.

9. Corporations are wealth machines when used properly.

Business owners learn fast that investing inside the corporation, income splitting, passive income rules, and retained earnings strategies can be major opportunities when used correctly.

10. Review your beneficiary designations.

Wrong designations can cost your family thousands in probate fees. If you have a spouse, set them up as a successor holder for your TFSA so the account rolls over smoothly. I see this mistake often.

11. Wealth transfer doesn’t start when someone dies.

Start these conversations early. Gifting strategies, joint accounts, and insurance can equalize and simplify estates. These things should happen years before any legal process.

12. People don’t always lose money because of “bad” investments.

They lose it from no structure, bad timing, no planning, and no tax strategy. The investments aren’t usually the issue. The coordination is.

13. Your income doesn’t build wealth. Your structure does.

High earners can be broke. Modest earners can become wealthy. It comes down to where the money flows and how consistently you allocate it to the right accounts.

14. Stop overthinking your budget. Use this four-category system.

1. Fixed costs: rent or mortgage, bills, groceries, insurance (50 to 60%)
2. Wealth building: investments and savings (10 to 30%)
3. Live well fund: the things you enjoy (15 to 30%)
4. Emergency and big goals fund: safety net and major purchases (5 to 10%)

15. Avoid lifestyle creep.

Just because you make more doesn’t mean you should spend more. Increase your savings rate first. Invest early. Buy yourself options later.

16. Don’t forget your digital footprint.

If something happened to you, would someone know how to access your accounts or retrieve documents? List it somewhere safe and share it with a trusted family member or executor.

17. Business owners, don’t skip BOE insurance.

Business Overhead Expense insurance covers things like rent, payroll, utilities, and bills if you can’t work. Even with disability and critical illness insurance, your business costs aren’t covered without BOE. It’s essential for self-employed Canadians and incorporated professionals.

18. There are no hacks.

There are no guru secrets. Impatience ruins more plans than anything else. The most successful investors I work with stick to evidence-based strategies and stay consistent over years. That’s the whole “secret.”

19. The top three traits to look for in an advisor:

• Intelligence: the ability to build evidence-based portfolios
• Energy: the consistency to keep your plan on track
• Integrity: the honesty to tell you the truth when impatience kicks in

20. If you’re in your 30s or 40s, you’re in the most important two decades of your life.

You don’t need to wait forever to create the life you want. But you do have to move. If you spend $80,000 a year, you’ll need roughly $2 million invested to sustain your lifestyle. That’s your freedom number. You don’t save $2 million out of pocket. You save consistently, invest consistently, and let time build it.

Bonus: If you feel behind financially, read this.

The average individual income in Ontario is about $54,834 a year.

Across Canada, only about 25.5% of people earn over $100,000 a year.

You’re doing better than you think. Don’t let the internet make you feel small.

If you want to propel your financial future, let’s talk, book a time using the link below.