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HBO and The Ringer's Bill Simmons hosts the most downloaded sports podcast of all time, with a rotating crew of celebrities, athletes, and media staples, as well as mainstays like Cousin Sal, Joe House, and a slew of other friends and family members who always happen to be suspiciously available.
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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
30 episodes
