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Cross Border for Business Owners: Tax Residency, Departure Taxes, and Cross-Border Planning (with Todd King) In this special bonus episode, Matt Kempton and Devin Cattelan, specialists in cross-border services with Verecan Capital Management, are joined by Todd King, Tax Practice Leader at Baker Tilly Nova Scotia, to discuss what business owners should know before moving between Canada and the United States. King explains how the two countries' tax systems differ and why changing tax residency can create unexpected complications. The conversation covers Canada's departure tax, which can leave business owners facing a substantial tax bill even without selling their company, along with strategies that may help reduce or defer that tax. They also discuss the risk of double taxation, how U.S. business structures such as LLCs can create complications in Canada, and the tax considerations surrounding trusts, insurance policies, and investments. Drawing on his experience working with clients on both sides of the border, King shares examples of situations where early preparation helped avoid costly problems, as well as cases where people sought advice after relocating. The discussion also covers the potential tax consequences of renouncing U.S. citizenship or relinquishing a long-held green card, emphasizing the importance of planning before a move, while more options may still be available. Click here to view the episode transcript. Mentioned in this episode (and worth checking out):·       Planning for U.S. Expatriation: The Ins and Outs of IRC 877A (00:00) - Welcome and Setup (01:01) - Meet Todd King (01:42) - Canada vs U.S. Tax Basics (03:50) - Residency Changes and Complexity (05:14) - Canada Departure Tax Explained (08:37) - Planning to Reduce Exit Tax (12:50) - Late Calls and Double Tax Traps (17:29) - U.S. Owner Moving to Canada (19:15) - LLC Trap and Entity Mismatch (22:54) - Pre Move Planning Ideas (28:16) - Trusts and Estate Planning Issues (32:35) - Case Study Structuring the Move (35:34) - Investments and PFIC Pitfalls (37:56) - U.S. Expatriation Exit Tax Rules (42:44) - Wrap Up and Disclosures

Moving to Canada: Citizenship by Descent, Express Entry, and Common Immigration Pitfalls (with Grace Allen) In this special bonus episode, Matt Kempton and Devin Cattelan of Verecan Capital Management, specialists in cross-border services with Verecan, interview Halifax immigration lawyer Grace Allen about what Americans should know before relocating to Canada, stressing that immigration, tax, investment, banking, estate planning, and lifestyle planning must align. Allen explains two main permanent-move avenues: family (citizenship by descent - potentially far back after Citizenship Act changes in December 2025 - and spousal sponsorship leading to permanent residence) and economic immigration, chiefly Express Entry, a points-based system now emphasizing category-based draws such as French proficiency (outside Quebec), healthcare, and trades, with options like provincial nomination. Timelines are typically 6–12 months after invitation, but candidates can wait years in the pool and may use temporary pathways like CUSMA work permits. She debunks buying property or investing as a shortcut, warns DUIs and non-disclosure can cause bans for serious criminality/misrepresentation, and notes citizenship can follow 1,095 days of presence as a PR plus testing and ceremony. Click here to view the episode transcript. (00:00) - Moving to Canada Basics (00:28) - Meet Immigration Lawyer Grace (01:38) - Who Can Move to Canada (02:04) - Citizenship by Descent (06:17) - Proving Your Lineage (07:35) - Economic Immigration Reality (09:16) - Express Entry Explained (11:48) - Invites Medical and Background (13:49) - Timelines and Temporary Options (15:15) - CUSMA Work Permits (16:49) - You Cant Buy PR (19:11) - DUI and Criminal Inadmissibility (21:39) - Common Application Mistakes (23:11) - DIY vs Hiring a Lawyer (27:13) - Culture and Labor Needs (29:11) - Path to Citizenship (31:05) - Final Advice and Wrap Up (33:44) - Outro and Disclaimers

Risk vs. Volatility: Why “More Risk = More Return” Can Mislead Investors Josh Sheluk and Colin White discuss how “risk and return” is widely marketed yet poorly understood, arguing that the industry often equates risk with volatility using measures like standard deviation, even though risk is subjective and tied to an investor’s goals. They outline different risks—volatility, permanent loss, inflation, liquidity, and behavioral risk—and stress that avoiding risk has costs, as seen in insurance and in giving up liquidity via products like long-term GICs or private investments. They challenge the simplistic pitch that more risk guarantees more return, noting examples where higher risk can have low expected returns (lotteries, casinos, zero-day options, concentrated positions, leveraged ETFs, and prediction markets). Their key point: define risk relative to objectives and time horizon, and be wary of sales-driven risk framing. Click here to view the episode transcript. (00:00) - Aug2026: The True Cost of Risk (00:12) - Podcast Intro (00:57) - Risk Return Myths (02:59) - Marketing Risk Reduction (05:27) - Volatility Versus Risk (06:56) - Goals Based Risk (12:30) - Liquidity And GICs (14:45) - Why Risk Pays (15:47) - When Risk Fails (19:11) - Stocks Versus Bonds (21:25) - Expected Versus Realized (25:12) - Managing Risk Tools (27:39) - Insurance And Cost (30:03) - Smart Versus Dumb Risks (32:31) - Leverage And Betting (36:54) - Final Takeaways (39:04) - Outro And Disclosures 00:00 The True Cost of Risk00:12 Podcast Intro00:12 Podcast Intro00:57 Risk Return Myths02:59 Marketing Risk Reduction05:27 Volatility Versus Risk06:56 Goals Based Risk12:30 Liquidity And GICs14:45 Why Risk Pays15:47 When Risk Fails19:11 Stocks Versus Bonds21:25 Expected Versus Realized25:12 Managing Risk Tools27:39 Insurance And Cost30:03 Smart Versus Dumb Risks32:31 Leverage And Betting36:54 Final Takeaways39:04 Outro And Disclosures

ETFs vs Mutual Funds: Wrappers, Not Winners Josh Sheluk and Colin White of Verecan Capital Management debunk the belief that ETFs are inherently good and mutual funds inherently bad, arguing both are simply investment “wrappers” and that what matters is what’s inside, the strategy, costs, and role in a portfolio. They explain how mutual funds have historically been associated with higher-cost active management while ETFs began as lower-cost passive index vehicles, but the lines have blurred with actively managed ETFs and low-cost passive mutual funds. Key structural differences include ETFs trading intraday on an exchange with bid-ask spreads and liquidity considerations, while mutual funds transact at end-of-day NAV. They discuss risks of complex/leveraged ETF products, note similar strategies can exist in mutual funds, and contrast hedge funds as more loosely regulated, often higher-cost and less liquid. They also explain why Verecan launched pooled mutual funds to simplify reporting, improve execution efficiency, and potentially reduce client costs without adding fees. 00:00 ETFs vs Mutual Funds Myth02:52 Defining the Wrappers04:33 Active vs Passive Origins07:02 Marketing and Narrative Shift08:52 Cost vs Value Debate10:23 ETF Hype and Copycats11:26 Hidden Costs and Bid Ask13:10 Trading Mechanics and Liquidity15:28 Leveraged ETFs and Strategy Risk18:17 Hedge Funds Explained24:39 Why We Launched Our Funds28:47 Wrap Up and Disclosures

Why Retail Investors Should Avoid IPOs (SpaceX, OpenAI, and Index Inclusion Games) Josh Sheluk and Colin White of Verecan Capital’s Barenaked Money explain what an IPO is, why companies go public, and the trade-offs versus staying private, including disclosure requirements and transparency. They argue retail investors should generally avoid IPOs because offerings are structured to favor insiders and investment banks, often rely on hype and limited float to influence valuation, lack a meaningful public track record, and tend to lose money or underperform the market on average—especially for buyers who can’t access the IPO price. Using SpaceX as a timely example, they discuss its extreme valuation, heavy losses, and the unusual, accelerated index-inclusion process and float adjustments that invite complex “gamesmanship” by large traders, making it a risky arena for individuals. They conclude markets can still build wealth, but it’s better to avoid IPO speculation.Click here to view the episode transcript. (00:00) - Should You Invest (00:08) - Podcast Intro (00:50) - What Is an IPO (02:11) - Public vs Private (06:10) - Why IPOs Are Risky (09:21) - IPO Data and Odds (12:06) - SpaceX and Mega IPOs (14:51) - Index Inclusion Games (20:44) - Float and Weighting (27:32) - Final Takeaways (29:45) - Outro and Disclosures 00:00 Should You Invest00:08 Podcast Intro00:50 What Is an IPO02:11 Public vs Private06:10 Why IPOs Are Risky09:21 IPO Data and Odds12:06 SpaceX and Mega IPOs14:51 Index Inclusion Games20:44 Float and Weighting27:32 Final Takeaways29:45 Outro and Disclosures

How Much Do You Need to Retire? Why the Question Is Wrong—and What to Ask Instead Hosts Josh Sheluk and Colin White of Barenaked Money discuss why common retirement questions—like how much money you need, when you can retire, average retirement spending or savings by age, and the “safe” 4% withdrawal rule—are often useless without personal context. They emphasize retirement planning is goals-based and depends on expected spending, timing, pensions, taxes, inflation, market variability, and especially changing priorities over time. They critique reliance on averages and fear-based industry numbers, and note plans rarely unfold in straight lines, citing unpredictable events and life changes. Their recommended approach is to focus on financial independence, understand trade-offs (e.g., retiring early vs. paying for kids’ education or buying a cottage), build flexibility and “slack,” and “retire to something” by replacing work’s purpose and social structure. They liken a financial plan to Google Maps that reroutes as conditions change. Click here to view the episode transcript. (00:00) - Tradeoffs That Matter (01:03) - Retirement Number Myth (03:12) - Why It Depends (04:54) - When Do You Need It (07:06) - Chasing A Target (11:35) - Financial Independence Mindset (13:35) - Average Is Useless (16:41) - Savings Benchmarks Trap (20:29) - Safe Withdrawal Rate (24:47) - When Can I Retire (25:12) - Biggest Variable You (29:44) - Better Questions To Ask (32:09) - Retire To Something (33:14) - Google Maps Planning (35:16) - Wrap Up And Disclosures 00:00 Tradeoffs That Matter01:03 Retirement Number Myth03:12 Why It Depends04:54 When Do You Need It07:06 Chasing A Target11:35 Financial Independence Mindset13:35 Average Is Useless16:41 Savings Benchmarks Trap20:29 Safe Withdrawal Rate24:47 When Can I Retire25:12 Biggest Variable You29:44 Better Questions To Ask32:09 Retire To Something33:14 Google Maps Planning35:16 Wrap Up And Disclosures

Canada Strong Fund vs. Sovereign Wealth Funds: Why Borrowing to Invest at Home Could Backfire Hosts Josh Sheluk and Colin White discuss the proposed Canada Wealth/Canada Strong Fund and argue it differs materially from traditional sovereign wealth funds. They explain sovereign wealth funds originated as a response to “Dutch disease,” using commodity windfalls to build large funds (e.g., Norway’s) that invest outside the country to diversify and stabilize the domestic economy and currency. By contrast, they say Canada would start with about $25B in borrowed money, likely invest domestically, and overlap with existing vehicles like the Canada Infrastructure Bank and Canada Growth Fund without clear details on governance, cost of capital, returns, or liquidity. They warn government investing can become politically driven, may crowd out private capital, and fear a retail component with capital guarantees would shift risk to taxpayers and repeat past failures like labour-sponsored venture capital funds. Their current verdict is “no.” 00:00 Sovereign Wealth Hype00:21 Show Intro and Setup01:26 What Sovereign Wealth Means02:44 Dutch Disease Origins05:03 Norway Model Explained06:59 Canada Strong Fund Basics08:46 Where Will It Invest10:35 Domestic Focus and Diversification11:38 Government Investing Risks14:04 Retail Investor Idea Alarm16:38 EV Subsidies as Warning19:26 What Government Should Do21:09 Labor Fund Cautionary Tale23:04 Guarantees and Liquidity Problems31:06 Best Case vs Worst Case33:43 Verdict and Wrap Up35:17 Disclaimers and Credits

Prediction Markets: Why They’re Gambling, Not Investing Hosts Josh Sheluk and Colin White of Verecan Capital Management discuss the rise of prediction markets (e.g., Polymarket, Kalshi, and a planned Wealthsimple product in Canada) following regulatory approvals, and argue people should avoid them. They frame the episode as a “draft of bad ideas,” led by the claim that participants will likely lose money, citing research on 1.4 million users and $20B in transactions showing profits are concentrated (1% earning ~80% of profits) and losses can be extreme (0.1% accounting for 43% of losses). They warn prediction markets are prone to manipulation and insider-information advantages, give examples of odds moving ahead of events, and criticize regulators’ rationale that people will do it anyway. They emphasize these products blur investing and gambling, siphon money from long-term investing, and are gamified to drive activity. Click here to view the episode transcript. 00:00 Wild Prediction Market Hook00:12 Show Intro and Today’s Topic00:55 Why Prediction Markets Are Exploding03:17 Regulators Open the Door05:02 Draft Pick One You’ll Lose Money08:52 Draft Pick Two Manipulation and Insider Info14:13 Draft Pick Three Gambling Not Investing17:07 Money Drain and Social Harm19:02 You Don’t Need This to Hedge22:03 Gamification and Worst Case Losses23:32 What Prediction Markets Actually Are27:34 Where This Is Headed and Final Thoughts30:40 Sponsor Message and Contact Info31:22 Legal Disclaimer and Wrap Up

AI-Powered Misinformation and Financial Scams: Fake Opportunity, Authority, and Urgency Hosts Josh Sheluk and Colin White of Barenaked Money welcome back misinformation researcher and author Matthew Facciani (Misguided) to discuss current misinformation trends, especially how AI scales personalized scams across social media, email, and increasingly convincing audio deepfake phone calls. Facciani outlines three common scam patterns—fake opportunity, fake authority, and fake urgency—and shares examples of AI-tailored job-offer and book-club scams that quickly pivot to small fees. He recommends habits and tools to reduce risk: pause and reflect before reacting emotionally, avoid clicking links, verify credentials via official sources, use lateral reading to check independent coverage and digital footprints, and leverage tools like reverse image search, the Wayback Machine, and URL checks. The conversation also covers identity and network overlap as drivers of bias, plus Facciani’s interactive tools for mapping identity complexity and social network diversity.Click here to view the episode transcript. Mentioned in this episode (and worth checking out): ·        Misguided: The Newsletter ·        Identity Map Tool ·        Verecan Blog: Don't Get Fooled Out of Your Money: Fact-Checker Guide for Every Kind of Investor  00:00 AI Scam Wake Up 00:11 Meet The Misinformation Expert 01:25 State Of Misinformation Now 03:23 Financial Scams Three Buckets 05:35 Deepfakes Voice And Text 06:48 Personalized Job Offer Scam 11:18 Spotting Scams Daily Habits 13:48 Book Club Flattery Trap 17:54 Predatory Conferences Gray Lines 20:49 Verify Claims With Lateral Reading 25:20 Identity Bias Map 26:41 Overlapping Identities Risk 28:46 Complexity Score Tool 30:29 Network Diversity Shield 34:29 Echo Chambers Everywhere 35:34 Privacy And Metrics 36:34 Critical Ignoring Chatbot 40:21 Making It A Business 41:41 Contrarian Matching Ideas 44:48 Where To Find Everything 47:16 Contact Info And Disclosures 47:16 Financial Advisor Disclaimer

War, Markets, and Why You Still Can’t Invest on Headlines Hosts Josh Sheluk and Colin White discuss how wars and geopolitical conflict have historically affected markets, emphasizing the human tragedy while focusing on financial implications. They review major Middle East conflicts since 2000: Afghanistan (Oct 7, 2001), Iraq (Mar 20, 2003), the Syrian Civil War (Mar 15, 2011), the Yemeni Civil War (Sep 21, 2014), and the Oct 7, 2023 Israel conflict, and argue market outcomes were driven more by other forces (tech bubble collapse, European debt crisis, oil shocks, 2008 crisis) than by the conflicts themselves. They cite BCA Research finding only the 1973 Yom Kippur War/oil embargo clearly led to a bear market, noting today’s lower oil intensity and U.S. oil export position. They conclude rapid sentiment shifts make conflict “unreactable,” so investors should maintain resilient portfolios rather than adjust to headlines. Click here to view the episode transcript. 00:00 War And Bear Markets01:01 Why Revisit War And Markets02:31 Afghanistan 2001 And Tech Bust06:54 Iraq 2003 And Recovery Years09:13 Syria 2011 And Euro Debt Crisis11:36 Yemen 2014 And Oil Shock Memories13:46 Israel 2023 And The Big Picture17:00 Why You Cant Trade Headlines20:20 Incentives Oil And Global Pressure22:39 The One War That Triggered A Bear27:19 Fragility South Korea And Gold29:11 Build A Resilient Portfolio30:18 Contact Info And Disclosures

Gen Z, Retirement at 59, and the Math Behind the Despair Hosts Josh Sheluk and Colin White discuss a retirement survey comparing generations and claiming Gen Z expects to retire around 59, earlier than millennials, Gen X, and boomers, despite low confidence and limited progress toward goals. They link younger cohorts’ despair to factors including housing affordability, career disruptions from COVID and inflation, and especially social media narratives, while arguing each generation faces different hardships and that millennials are now tracking ahead of Gen X at the same age. They emphasize retirement timing is often unrealistic and over-prioritized, advocating instead for financial independence, flexibility, and living a fulfilling life while acknowledging math still governs outcomes: delaying saving makes early retirement harder. They criticize the survey as marketing meant to shame people into saving, and suggest advisors should clarify what’s attainable and help clients stay accountable.Click here to view the episode transcript. 00:00 Gen Z Doom Spiral 00:10 Retirement Survey Reaction 02:17 Doomsday Fears and Growing Up 05:28 Millennials and Gen Z Headwinds 09:54 Retirement Math Reality Check 11:06 Retirement Isnt the Goal 13:24 FIRE Movement and Coasting Risks 15:33 Blame Pie Game Setup 16:43 Housing Experience and TikTok 20:26 What Actually Matters 26:24 Coaching Financial Independence 28:48 Social Media and Keeping Up 32:10 Optimism Despair and Marketing 34:34 No Generation Needs Saving 37:47 Wrap Up and Disclosures

2026 "Predictions": AI Spend, Prediction Markets, Speculation, ETF Flood, Gold, Analysts, and the USD Josh Sheluk and Colin White (Verecan Capital Management) deliver a tongue-in-cheek style 2026 predictions episode, repeatedly stressing the forecasts are not investable. They expect more clarity on whether the hundreds of billions spent building AI infrastructure will pay off, with Colin suggesting over 50% of early AI investment may “disappear” within 18 months as hype fades. They predict prediction markets (Polymarket, Kalshi) will surge, debate whether regulation will quickly constrain them, and highlight how easily bets can be manipulated. They predict speculative assets - unprofitable/no-revenue companies, AI/quantum themes, crypto, meme/alt coins - will be punished as risk appetite shifts. Josh predicts 2026 will set a record for new ETF launches (citing 300+ launched in Canada in 2025) and criticizes the growth of low-quality and leveraged/inverse products. Over a 10-year horizon, Josh predicts infotech and the S&P 500 won’t be the top performers, citing infotech’s large S&P weight and the U.S.’s large share of global market cap. Josh says gold is essentially unpriceable and unpredictable; Colin predicts gold won’t match its 2025 performance. Josh predicts sell-side S&P 500 targets clustered around ~8–10% will be wrong again and argues herding explains the forecasts. They also discuss the U.S. dollar potentially staying weak amid uncertainty, mean reversion, and a likely 2026 debate over Federal Reserve independence and leadership changes. The episode closes with a call for audience predictions, a note on advisor compensation transparency, contact details, and standard disclaimers.Click here to view the episode transcript. 00:00 Introduction to Barenaked Money00:55 Predictions for 2026: AI Capital Expenditures05:40 The Rise of Prediction Markets13:20 Speculative Investments in 202616:58 The ETF Explosion20:02 Long-Term Predictions20:11 Sector Predictions for 202620:48 The Dominance of Infotech23:53 Rare Earths and Commodities24:37 Gold Predictions and Market Psychology28:00 Analysts' Predictions and Market Trends31:08 The Future of the US Dollar37:26 Final Thoughts and Viewer Engagement37:57 Disclaimer and Closing Remarks

Predicting the Unpredictable: 2025 Financial Forecast Recap and 2026 Outlook on Barenaked Money In this special edition of Barenaked Money, hosts Josh Sheluk and Colin White of Verecan Capital Management, Inc. recap their 2025 financial predictions and assess their accuracy. Yes, it's a little late for a 2025 recap and that's ok. The episode features a mix of amusing self-reflection and serious analysis as they prepare for their 2026 predictions. Highlights include discussions on tariffs, Trump’s Department of Government Efficiency, market corrections, day trading trends, and the surprising economic resilience despite anticipated recessions. They emphasize the challenges and pitfalls of making market predictions, concluding with a commitment to cautious and diversified investment strategies.Click here to view the episode transcript. 00:00 Introduction and Overview00:41 Recap of 2025 Predictions01:25 Tariffs and Economic Predictions05:55 Market Trends and Surprises09:14 Bond Market Performance12:49 Stock Market Analysis14:49 Leveraged ETFs and Day Trading19:48 Canadian Economy Insights22:19 Investment Strategies and Final Thoughts28:00 Conclusion and Disclaimers

Challenging Economic Norms and Investment Strategies with Paul Musson In this episode of Barenaked Money, hosts welcome guest Paul Musson, an old friend and former financial industry colleague. Paul discusses his new book 'Capital Offense: Why Some Benefit at Your Expense,' which explores economic and monetary theories behind current financial systems and their flaws. They delve into the importance of understanding economic fundamentals, the role of central banks, and the concept of 'good deflation.' Paul also shares his personal investment philosophy focusing on high-quality equities, diversification, and the challenges of staying disciplined in a volatile market. The conversation raises provocative questions about inflation targets, the role of Bitcoin, and the sustainability of current financial practices.Click here to view the episode transcript. 00:00 Debunking the 2% Inflation Myth 00:09 Introduction to Barenaked Money Podcast 00:17 Meet Paul Musson: From Corporate to Independent 01:19 Paul's Book: Capital Offense 01:56 Understanding Economic and Monetary Theory 07:10 The Role of Government and Finance in the Economy 13:52 Investment Strategies and Diversification 25:25 The Debate on Bitcoin and Asset Classes 28:09 Comparing the Tech Bubble to the AI Boom 34:33 The Case for Good Deflation 37:45 Conclusion and Next Steps