Herman Chan, CFP®

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Herman Chan, CFP®

Herman Chan, CFP®

@HermanHChan

A dedicated father, partner, financial planner, and advisor who loves guiding medical professionals and real estate investors to financial freedom.

Greater Toronto Area Katılım Şubat 2012
1K Takip Edilen718 Takipçiler
David Chilton
David Chilton@wealthy_barber·
Part 3: Dave shares how to actually choose the right financial advisor—from credentials to chemistry.
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Herman Chan, CFP®
Herman Chan, CFP®@HermanHChan·
@wealthy_barber It's true. I reference you, your mantra, then I take it one step further, and add insure/invest then do fun things.
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David Chilton
David Chilton@wealthy_barber·
Still personal finance’s most important learning.
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Herman Chan, CFP®
Herman Chan, CFP®@HermanHChan·
What's really wrong is when someone paying 1%+ at 1M or higher, and not getting a basic plan at all. And when they do it's half-baked - missing insurance and estate planning and an implementation plan.
Art Johnson 🇨🇦@ArtEddywealth

@myownadvisor @globeandmail We’ve seen plans priced anywhere from $3,000 to $7,000+. There’s nothing wrong with charging $7,000. There is something wrong with charging $7,000 for a static document that doesn’t address sequence risk or implementation.

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Herman Chan, CFP®
Herman Chan, CFP®@HermanHChan·
Thank you Brenda Bouw and @GlobeAdvisor @globeandmail for the opportunity to share my story. Many Canadians deserve better advice and service and Crimson Financial is here to deliver. #financialplanning #wealthmanagemnt #doclife #realestateinvesting #crimsoncares
Globe Advisor@GlobeAdvisor

Before being recruited into financial services, @HermanHChan, president and certified financial planner at Crimson Financial in Toronto, wanted to be a sports reporter. In his second year of journalism school, he interviewed Vince Carter at the peak of his popularity and then-NBA commissioner David Stern. “So, I did accomplish my goal of being a sports reporter for a day,” he says. He spoke with Brenda Bouw about the variable-rate mortgage he took out in 2021 and why he went independent. theglobeandmail.com/investing/glob…

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Herman Chan, CFP®
Herman Chan, CFP®@HermanHChan·
@CanadaTaxGuy I don't want anyone to rely on a potential inheritance for their retirement projections. There's always a chance that parent or relative could change their mind at the very last second.
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Herman Chan, CFP®
Herman Chan, CFP®@HermanHChan·
I never include inheritance in financial freedom planning until they actually get the money. And yes, most people with assets or responsibilities have done little or nothing when it comes to estate planning.
Canadian Tax Guy (Mohammed Al-khooly)@CanadaTaxGuy

Many people are fighting with their siblings over land back home and yet, they’re skipping getting will and estate planning. Either they don’t see the urgency or they fully expect that their family will figure it out when they pass…

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Canadian Tax Guy (Mohammed Al-khooly)
Canadian Tax Guy (Mohammed Al-khooly)@CanadaTaxGuy·
Within 6 months of a client signing up, we: 1) Cleared her shareholder loan 2) Adjusted her salary and dividends 3) Set up a holding company 4) Assisted her and provided guidance with with her separation 5) Responded to several CRA reviews and we were successful in all of them 6) Amended her 2020 tax return because income was overstated by $70k. She is getting a cheque for $35k+ from the CRA. 7) Filed multiple years of tax returns for her family members (in which they’re expected to receive big refunds) 8) Advised her to apply for the disability tax credit to benefit from additional tax savings I’m really proud of our work.
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Herman Chan, CFP®
Herman Chan, CFP®@HermanHChan·
@JasonWattBCC Making more money is a legitimate solution for many challenges. And in my case, experience as a employee/leader has helped me tremendously as an entrepreneur so far!
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Jason Watt.CAD
Jason Watt.CAD@JasonWattBCC·
At first, when I saw this title, I thought, 'what does this have to do with financial planning?' Mostly because I am grumpy and jaded. But it was a great reminder that a lot of financial planning focuses on the bottom half of the cash flow statement (where is the money going) and not enough work goes into the top half (could you be bringing more dollars in?) Financial planners - talk to your clients about side hustles, education, promotions, advancement, career changes. My other thought (yes, two complete thoughts) is around an unstated value of entrepreneurship. I have spent my last 20 years running businesses in one form or another. I would rather have employees who understand what it means to run a business. They will generally be more creative and entrepreneurial within whatever business they are working in. Experience as an entrepreneur can make you a better employee.
David Chilton@wealthy_barber

Episode #41 is out now! Our guest this episode is @chrisguillebeau — author, entrepreneur, blogger and speaker best known for “The $100 Startup,” “Side Hustle,” and his latest book, “Time Anxiety.” Chris first rose to prominence through his blog “The Art of Non-Conformity,” where he shared stories of unconventional work, travel and building income on your own terms. In this conversation, Dave and Chris dive into the world of side hustles and small entrepreneurship — how to turn skills and hobbies into income, why reselling is one of the easiest ways to start and why action always beats overplanning. Chris shares what successful side-hustlers have in common, how to find your first customers, why farmers’ markets are an underrated testing ground for business ideas, and how knowing when to quit can be just as important as knowing when to push forward. Whether you’re thinking about starting a side hustle, testing a business idea, or just want a fresh perspective on work and time, this episode is full of practical insights and encouragement. Listen now on our website, YouTube, Apple Podcasts, Spotify and all major podcast platforms.

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@wealthy_barber @MarkMcGrathCFP @MoneySense @STANDUP_Today @JasonWattBCC @fpacanada @JuliaChungFP @GlobeAdvisor