This summer, a wave of Canadians will open their mail to find a GIC renewal notice, and the new rate won't look anything like the 5% they locked in back in 2023.

In this episode of Think Smart with TMFG, we go back to square one on Guaranteed Investment Certificates: what they actually are, why so many people own them without realizing it, and why the timing of this year's renewal wave matters so much.

We also dig into one of the biggest drawbacks of GICs: their tax treatment. Interest income is taxed at your top marginal rate, and accumulation GICs can leave you paying tax on money you haven't even received yet. For retirees focused on keeping their tax bill low, we discuss why those forgotten GICs often show up as an unexpectedly high interest line on a tax return.

From there, we break down the hybrid and index-linked GICs and liquidity risk, why locked-in money can be a problem inside a corporation or in a pinch, and the liquid alternatives like high-interest savings and money market funds that can serve a similar purpose.

Finally, we share practical strategies if GICs are right for you: laddering for liquidity, why you should always negotiate rather than accept the artificially low posted renewal rate, and the importance of watching CDIC coverage limits, especially outside the big five banks.

📌 If you have a GIC coming due this summer, personally or inside your company, feel free to reach out before the renewal date. We'd be happy to help you through those decisions:

Schedule a meeting here

🎧 Listen to the full episode on YouTube.

Follow us: LinkedIn: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

Most founders can tell you their business's revenue down to the penny, but ask about their own net worth, and they draw a blank.

In this episode of Think Smart with TMFG, we unpack founder compensation and personal wealth-building: why so many successful business owners are asset-rich on paper but personally behind, and why that gap only gets harder to close the longer you wait.

We dig into how you pay yourself: salary builds CPP and RRSP room, while dividends offer tax advantages but no CPP contributions, and aren't deductible to the corporation. We also cover using corporate debt to build income (versus personal debt to buy things), insurance as a corporate wealth tool, and the capital dividend account, a lesser-known way to pull money out of your company tax-free.

Finally, we share the habit that separates founders who build lasting wealth from those who don't: knowing when to stop reinvesting everything and start retaining earnings, even just 10–20%, so a rough year for the business doesn't become a personal financial crisis.

📌 If you're a founder or business owner rethinking how you pay yourself or reinvest, feel free to reach out. We'd be happy to help you through those decisions: Schedule a meeting here

🎧 Listen to the full episode on YouTube.

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

You filled out a risk questionnaire once, when you opened your account, and probably never looked at it again. But do you actually know how you'll react if your portfolio drops 20%?

In this episode of Think Smart with TMFG, we unpack risk tolerance vs. risk capacity: what a risk questionnaire is really measuring, and why the answers people give in a calm market rarely hold up once one turns. We dig into recency bias, why investors overestimate their risk tolerance in good markets, and why fund flow data shows people moving into equities at the top and fleeing to cash at the bottom, exactly backwards.

We also cover the handful of life events that should actually change your risk profile: retirement, losing a spouse, or simply getting older.

📌 If it's been years since you reviewed your risk profile, feel free to reach out. We'd be happy to help you through those decisions:

Schedule a meeting here

🎧 Listen to the full episode on YouTube.

Follow us: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/