Our guest this episode is Aaron Hector—Founding Partner of TIER Wealth, President of the Institute of Advanced Financial Planners and a fellow personal-finance nerd like Dave.
In this episode, Dave and Aaron explore some of the most overlooked opportunities in Canadian financial and estate planning. From optimizing RESP withdrawals to gifting tax deductions to your kids, Aaron shares smart, actionable strategies that can help families build and preserve wealth more effectively. They also cover timely topics like when to defer RRSP or FHSA deductions, how to handle joint accounts, why every Canadian needs a will and the difference between a beneficiary and a successor holder.
Whether you’re just building your financial plan or revisiting it with an eye for tax efficiency, this episode is full of practical tips and clear explanations you can put to use.
Show Notes
(00:00) Intro & Disclaimer
(00:55) Intro to Aaron Hector & TIER Wealth
(04:23) Detailed Optimizations in Financial Planning
(07:22) When Should You Defer FHSA or RRSP Tax Deductions?
(10:41) A FREE Strategy for Parents to Help Their Kids Buy a Home (Gifting a Tax Deduction)
(15:22) TFSA vs. RRSP
(17:13) RESP Lump-Sum vs. Gradual Contributions
(20:34) Optimal RESP Withdrawal Strategies
(26:45) A Simple—But Powerful—Estate Planning Exercise
(30:17) Joint Tenancy on Non-Registered Accounts
(32:01) Get a Will!
(34:44) What’s the Difference Between a Beneficiary and a Successor Holder?
(37:23) The Importance of Estate Planning
(39:10) Corporate Executors
(42:24) Tax Opportunities When the Stock Market Pulls Back
(44:49) Are More Grandparents Giving Money to Their Grandchildren?
(46:24) Conclusion
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.