Ep. 28 | The Smart Path to Buying Into Your Firm

In this episode of Plain English Finance, host Tré Bynoe, CFP®, CIM®, breaks down the step-by-step plan for professionals thinking about buying into their firm — lawyers, engineers, accountants, and doctors alike.

Tré explains how to build your finances in the right order so you’re ready when the chance to buy in comes. From mastering personal spending to building a non-registered account and structuring your debt for tax savings, this episode lays out a simple roadmap for professionals who want to move from employee to part-owner.

With Sierra joining the conversation, they cover what really matters: earning well, protecting your income, and setting up your finances so opportunities don’t pass you by.

Key Takeaways:

• Why mastering personal spending comes first
• How to plan around your long-term tax bracket
• Using RRSPs and TFSAs strategically
• The role of a non-registered account in buying into a firm
• How to make debt tax-efficient
• When to think about IPPs, holdcos, and advanced strategies
• Mistakes to avoid when structuring your buy-in