Until January 2025, Ontario’s physicians were left to their own devices to save, invest and prepare for their eventual retirement. Concerns about how much to save, where to invest and the possibility of running out of retirement income too early have plagued physicians for decades.
Effective January 2025, the Ontario Medical Association (OMA) has approved their members for membership in the Healthcare Of Ontario Pension Plan (HOOPP).
Caldwell Advisory hosted a free webinar for Ontario physicians to help them understand the pros and cons of their participation in HOOPP and to answer common questions such as ‘Should I join HOOPP at this stage of my career?’, ‘What are the details of participating in HOOPP’s defined benefit plan?’, ‘How does it all work?’, and ‘How will it impact my preparations for retirement?’
Cara Chesney (Accountant, Managing Partner, MNP Kingston) and Rick Tomalty (Financial Planner, President and Managing Partner, Caldwell Advisory) presented.
Cara Chesney, CPA, CA
Cara Chesney is a Partner with MNP in Kingston. She works with her clients – many of whom are physicians and theirs MPCs – one-on-one to provide tax compliance and planning advice, and is experienced in HOOPP reporting for pension members.
Cara holds a Bachelor of Commerce degree (Honours) from Queen’s University. She is passionate about contributing to the profession and is an adjunct professor at the Smith School of Business and an instructor with CPA Ontario. (full bio)
Email: cara.chesney@mnp.ca
Rick has committed his professional life to promoting the growth and success of his clients. As an accredited business and executive coach, he brings an insightful and unique values–based approach to planning that helps people align their financial decisions with their most important priorities.
His specialized education and experience translate into valuable insights for business owners and shareholders of professional medical corporations, areas of expertise to which Rick dedicates much of his practice. (full bio)
Email: rick@caldwelladvisory.ca
CFP, CLU, CH.F.C., CHS, MFA, CEA
Rick enjoys helping people navigate the financial issues in their lives – from managing major life events and creating strategic plans for the future to mapping their values to their financial plans. He is a big picture thinker and a compassionate human.
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