wealth wise
Building and Protecting your financial future in Canada
Synopsis of Wealth Wise: Building and Protecting Your Financial Future in Canada
In Wealth Wise: Building and Protecting Your Financial Future in Canada, Rajesh Chowdhry, a seasoned financial consultant, delivers a practical and inspiring guide to achieving financial freedom in Canada’s dynamic 2025 economic landscape. Through the relatable journey of Sarah and Michael Chen—a Toronto couple balancing careers, a dream of a Vancouver home, a fintech startup, and their daughter Emma’s future—Chowdhry demystifies personal finance for Canadians at any stage. Spanning across 17 chapters, the book is structured around five pillars: saving diligently, growing wealth, protecting income, minimizing taxes, and passing assets to loved ones.
Starting with their modest $20,000 savings, the Chens face challenges like Toronto’s $700,000 condo prices, 2.75% interest rates, and tech sector volatility. Guided by their Certified Financial Planner, Linda, they utilize Canadian tools such as Tax-Free Savings Accounts (TFSAs), Registered Retirement Savings Plans (RRSPs), First Home Savings Accounts (FHSA), and Registered Education Savings Plans (RESPs) to develop a comprehensive financial plan. From establishing a $45,000 emergency fund (Ch1–2) to investing in ETFs for a $100,000 portfolio (Ch3–5), securing $500,000 in life insurance (Ch6–7), saving $3,000 annually through RRSPs (Ch8–11), and launching Michael’s app en route to a $1.5 million net worth (Ch12–17), their story illustrates a clear path forward.
Enriched with case studies from Halifax to Calgary, practical worksheets (e.g., Goal-Setting Template), and data-driven insights (e.g., 1.9% inflation, $7,997 CCB limits), Wealth Wise addresses housing crises, inflation, and economic shifts. Appendices offer glossaries and CRA-sourced data for reference. Whether you’re a DIY planner or advisor, this book empowers readers to navigate Canada’s financial system with confidence, turning aspirations into reality through disciplined, strategic choices.
