#27 — Jason Heath: Financial Planning 101

Our guest this episode is Jason Heath—Managing Director at Objective Financial Partners and one of Canada’s most respected fee-only/advice-only financial planners. In this episode, Dave and Jason cover the foundations of financial planning in Canada, tackling hot-button topics like RRSPs vs. TFSAs, reverse mortgages, annuities, CPP/OAS timing, insurance planning, estate-planning pitfalls and more. They also discuss how to prioritize financial goals, avoid common mistakes and build a plan that actually works in the real world. Whether you’re planning for retirement, building your financial future or just want a clearer understanding of how all the pieces fit together, this episode is a masterclass in financial planning.   Show Notes (00:00) Intro & Disclaimer (00:55) Intro to Jason Heath (03:00) The Rising Cost of Living in Canada (05:00) The Pros and Cons of Getting Financial Information from Finfluencers (10:06) Investing vs. Financial Planning (12:47) Objective Financial Partner’s Clients and Services (15:10) Estate Planning (18:41) Reverse Mortgages Get a Bad Rap (21:04) Use Cases for Annuities (24:24) People Don’t Want to Listen to the Experts and Defer CPP and OAS (25:31) TFSAs vs. RRSPs (27:54) Decumulation Planning for Retirees (33:01) Disability Insurance (35:29) Life Insurance (40:04) Gifting Money to Kids (41:52) Estate Planning Mistakes (44:24) The Importance of Prioritization in Financial Planning (49:34) Financial Education and Finding Balance