Want to dive deeper into topics like this? Master your journey with Physician Empowerment’s Masterclass Membership—your gateway to exclusive content, expert-led sessions, and actionable strategies to elevate your personal and financial well-being. Learn more and join us today! https://www.physempowerment.ca/masterclass

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In this episode, Dr. Kevin Mailo and Dr. Wing Lim talk about the intersection of real estate investing and the demanding lives of Canadian physicians. They explore the common barriers physicians face when entering real estate, including time constraints, risk tolerance, and lack of knowledge about different investment models. They highlight how real estate can offer powerful benefits, like capital appreciation, tax advantages, and leverage, and they are honest about the potential drawbacks, which can make investing feel like a second job.

Both Wing and Kevin share personal "war stories" from their early adventures in real estate, illustrating the importance of learning through experience and mentorship. Dr. Mailo discusses managing property crises while balancing night shifts, and Dr. Lim describes an overwhelming period managing family-owned condos during residency, which led him to avoid real estate for nearly two decades. Both eventually found success, however, by investing strategically, and they now advocate for peer-to-peer education and community support through platforms like Physician Empowerment.

About Dr. Kevin Mailo:

Kevin is an Emergency Physician who brings nearly two decades of experience as a top-rated educator through his uniquely entertaining approach. With strong returns in real estate and the public markets, Kevin enjoys financial security that has allowed him to begin working part-time before his tenth year in practice, and freely raise his four beautiful children.

For Kevin, money isn’t about consumer spending; it’s about building our best personal lives and ensuring we are practicing our best medicine. His dream is to see every Canadian physician enjoying personal financial security.

About Dr. Wing Lim:

Dr. Wing is a Family Physician based in Edmonton with a practice focus on the care of the elderly.

But Wing’s story is incredible: he started as a struggling solo-practitioner and went on to become a real estate developer who executed over $100 million in new construction – including one of Canada’s largest independent clinical facilities – Synergy Medical.

Wing inspires with not only his practical application of knowledge but also the wisdom acquired through his decades of personal financial learning.

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Physician Empowerment:

• Attend an upcoming Empowerment Retreat
• Join the Physician Empowerment Masterclass now
• Website: PhysEmpowerment.ca

Want to dive deeper into topics like this? Master your journey with Physician Empowerment’s Masterclass Membership—your gateway to exclusive content, expert-led sessions, and actionable strategies to elevate your personal and financial well-being. Learn more and join us today! https://www.physempowerment.ca/masterclass

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In this episode, Dr. Wing Lim welcomes Obed Maurice, CPA, CA, CFP, and founder of financial wellness tech startup MaximONE, to Physician Empowerment to share tax insights. Obed talks about his career journey, which led him from a very lucrative position at an accounting firm to founding his own more holistic business model that focuses on a comprehensive view of client finances. He explains how his firm differs from more traditional accounting firms and how that leads his team to be able to understand tax insights that other firms may miss.

Wing and Obed discuss in practical terms how Obed’s approach to clients differs, and how he spends a significant amount of time getting to know the client and their overall situation during discovery. His team focuses more on total wealth planning instead of just tax filing year to year. Obed offers advice from his experience on things everyone should be looking at in terms of tax planning, from deferred income and salaries versus dividends to estate planning and income splitting opportunities. He explains to Wing that the simplicity of financial hygiene and long-term impact lead to a greater return on investment and the right tax strategy is very much part of that equation. This episode gives valuable insights into what to look for in terms of overall accounting practices that take more than just a single tax return into consideration year by year.

About Obed Maurice:

Obed Maurice, CPA, CA, CFP, stands out as an accomplished holistic financial planner with a wealth of experience and a commendable track record. Holding the distinguished credentials of a Certified Public Accountant (CPA) since 2010, Obed has held significant roles, including that of Chief Operating Officer for a prominent ultra high-net-worth family office and later, as a partner in a mid-sized CPA firm. His entrepreneurial spirit led him to establish one of Canada’s pioneering cloud-based CPA firms, a venture that saw successful acquisition in 2018. Furthering his innovative pursuits, Obed launched MaximONE, a tech startup dedicated to automating financial wellness and offering proactive advice.

Obed’s contributions to the field have not gone unnoticed; he has been honored with the CPA Distinguished Service Award by CPA Alberta and the Career Virtuoso Award by Lethbridge College, underscoring his exceptional service and dedication to his profession. As a holder of CPA, CA, and CFP designations, Obed’s passion lies in empowering individuals to unlock their potential through sound financial planning.

His philosophy towards financial planning is deeply personal, drawing from the comprehensive and holistic needs of his own family. Obed excels in assisting entrepreneurs and professionals in amplifying the value of their life’s work, guiding them in wealth creation and preservation through meticulous planning, strategic,, holistic approaches, and a dedicated team to bring plans to fruition.

Beyond his professional endeavours, Obed’s personal life is enriched by his roles as a husband and father to a young daughter. He is deeply committed to community service, actively participating in volunteer activities and contributing positively to society.

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Resources discussed in this episode:

• Obed Maurice on LinkedIn
• Maxim Advisory Group

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Physician Empowerment:

• Attend an upcoming Empowerment Retreat
• Join the Physician Empowerment Masterclass now
• Website: PhysEmpowerment.ca

Want to dive deeper into topics like this? Master your journey with Physician Empowerment’s Masterclass Membership—your gateway to exclusive content, expert-led sessions, and actionable strategies to elevate your personal and financial well-being. Learn more and join us today! https://www.physempowerment.ca/masterclass

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In this second part of a two-part episode, Dr. Kevin Mailo continues his conversation with Kate Post, Chief Operations Officer for a multi-location dental practice, on the subject of managing employees. They shift focus to nipping potentially toxic behavior in the bud, getting to the root of disruptive behavior with conversation and not confrontation, and how to ensure your employees feel seen and valued. Kate has a wealth of interpersonal experience that she shares, and her insights emphasize seeing employees as valuable human contributors who need to be managed with care.

Kevin and Kate examine how to address problematic behavior that could become toxic in a way that sets a culture tone for the entire office. They look at how to call people out compassionately by first remembering that employees are humans with personal lives of their own. Kate stresses that modelling the behavior wanted in staff is key, and giving positive reinforcement when you see the values echoed is important in maintaining expectations. Kevin and Kate explore staff appreciation, being open to ideas from staff members, and maintaining a supportive office culture as vital components of managing staff well and keeping an office thriving.

About Kate Post:

Kate Post is highly skilled at streamlining operations, increasing revenue and reducing costs to maximize business profits. A decisive and strategic leader with a demonstrated track record of success in single-owner multiple dental practice environments, Kate has successfully worked in a variety of dental practices throughout Ontario over the past 22 years with over 1500 team members.

Kate has the ability to adapt to the varying needs of entrepreneurs and a variety of business types with previous experience in retail start-ups, the service industry and the dental business. With the compliment of recently completed Project Management courses, she has the skills to work with entrepreneurs in planning out their future goals, guiding teams towards the future and achieving quantifiable results.

Kate Post on LinkedIn

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Resources discussed in this episode:

• Episode 62: Optimizing Your Office-Based Practice with Kate Post

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Physician Empowerment:

• Attend an upcoming Empowerment Retreat
• Join the Physician Empowerment Masterclass now
• Website: PhysEmpowerment.ca