Watermark financial planning for young professionals

Congratulations are in order! You have made it through the arduous years of competition, studying and student debt to become a practicing professional in your community. 

Now that you have been freed from the hours of study you may be faced with the challenges of building a business, managing a staff and handling the expectations of a demanding client base. Add to that you might be thinking about paying down some student debt, accumulating savings, possibly raising a family and buying a home.

There are a myriad of considerations facing the young professional. Do you need a professional services company and a holding company? Is your spouse working with you in your practice? Are you working in someone else’s practice? Your personal debt could be paid off by taking a larger salary or dividend from your company – but is that the best thing to do?

At Livingston MacDonald Wealth Management, we specialize in helping young professionals through the planning maze. Working alongside your other trusted advisors, we map out a year-by-year plan called the Watermark system. This plan will help you maximize your savings, investment growth and identify opportunities to minimize taxes. 

As recent budgets have shown, the business investment and tax rules are subject to change from year to year. And we know that plans and lives change as well. Our Watermark system is updated every year to reflect your personal and regulatory circumstances. You can be assured that you are taking the shortest and most efficient route to realizing your goals and keeping as much of your hard earned money as is possible.

Thinking of paying dividends to a spouse? Purchasing an insurance policy with pre-tax corporate dollars? Concerned about the erosion of the small business deduction because of passive income in your holdco? Worried about how much personal debt to repay and how much money to invest? Would you benefit from clarity around how much do you need to retire and what investments will get you there most reliably? All of these considerations go into your Watermark plan now and every year afterward. 

We have offered these services to our clients for more than 20 years and are gratified by their successes. Now we want to ensure that the next generation of influencers in our community have the same opportunity to generate wealth for their families. We understand that you are in the early phase of your journey and we want to help in a way that you can afford and stay with.

There is no cost or obligation for a consultation.

The Watermark system – Clarity, Consistency, Results.

Michael Dickie is a financial planner with RBC Dominion Securities Inc. Member–Canadian Investor Protection Fund.

Livingston MacDonald Wealth Management helps young professionals with $200,000 or more of investment assets articulate and execute smart financial plans. Visit LivingstonMacDonaldwealthmanagement.com.

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