Financial planning for Healthcare Professionals 2023

2024-5-11 17:33

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This webinar, hosted by Thrombosis Canada as a service to our healthcare audience, featured a presentation by Hugh Connor, a Senior Portfolio Manager and Wealth Advisor at RBC Dominion Securities. The session focused on financial strategies and planning, particularly in relation to the end of the tax year. Topics included Small Business Management insurance, philanthropic donations, and other relevant financial considerations. This talk covered financial planning basics, emphasizing the importance of understanding one's current financial situation, retirement planning, and risk management. He discussed net worth and cash flow analysis, asset mix, tax-efficient fund withdrawal in retirement, and the benefits of permanent life insurance, especially for incorporated individuals. Additionally, Hugh provided year-end tax planning tips, such as tax-loss selling and capital gains deferral, and highlighted the benefits of TFSA contributions and individual pension plans. He advised on charitable donations, including donating securities and using life insurance policies. The macroeconomic overview focused on inflation, interest rates, and the likelihood of a recession. Hugh stressed the significance of dividend growth investing, especially in a declining interest rate environment. He concluded by encouraging the audience to consult with their financial advisors to create a personalized financial plan, underlining the importance of understanding one's risk tolerance and overall financial goals.

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