Lamont Wealth Strategies

Student Debt Overwhelming? Here’s How to Keep Your Future on Track! Student debt got you feeling stuck? You’re not alone—1.7 million Canadians are in the same boat, with a whopping $22 billion owed in student loans. For millennials, the challenge isn’t just about repaying debt; it’s about figuring out how to save for retirement at the same time. But here’s the thing—you don’t have to choose one over the other! How can you keep your financial future on track while tackling both goals? Let's take a look: 1️⃣ Do Both: Pay Off Debt AND Save for Retirement You don’t have to pick one and ignore the other. Student loans often have lower interest rates than other types of debt, so consider making minimum payments while contributing to your retirement savings. This way, you harness the power of compounding interest in your investments, all while steadily reducing your debt. 2️⃣ Refinance Student Loans When Possible If you qualify, refinancing can lower your interest rate, reducing the overall cost of the loan. Remember to weigh the pros and cons, like losing the flexibility of government-backed loans. And before refinancing, make sure you have a solid emergency fund in place! 3️⃣ Maximize Contributions to TFSAs (or maybe RRSPs) A Tax-Free Savings Account (TFSA) offers growth potential and flexibility, perfect for millennials who might not yet be in the highest tax bracket. Aim to contribute at least 10% of your income. If available, make sure to capitalize on employer matching programs for your RRSPs—because who doesn’t love free money? 4️⃣ Set a Savings Goal: 10x Your Final Salary It might sound ambitious, but aiming to have 10 times your final salary saved by age 70 is a solid benchmark for long-term planning. Start early, save consistently, and make sure your investments are aligned with your retirement goals and timeline. Bottom Line: It’s All About Balance! While early retirement might not be possible for everyone, achieving a secure financial future is definitely within reach. Start balancing those priorities today and set yourself up for a worry-free retirement tomorrow! 👉 What’s your biggest financial goal for the next 5 years—being debt-free or building a solid retirement fund? ↳Let us know in the comments! ────  I'm Jeffery, dedicated to helping lawyers build, protect, and transition their wealth.  🔗 Let’s connect for a Virtual Coffee Chat ☕️ and discuss how you can take control of your financial future.

Fear is inevitable. But how you respond to it is entirely up to you. Every day, we face moments that test us—moments where we're tempted to play it safe and avoid taking risks. In these moments, fear can be our greatest adversary or our most powerful ally. For many, financial planning and preparing for the future feels daunting. Whether it's the fear of → facing a market downturn → making the wrong investment → confronting the reality of retirement planning It's easy to want to 'Forget Everything And Run.' But what if, instead, we chose to 'Face Everything And Rise'? Choosing to rise means taking control of your financial future. It means facing the fear of uncertainty by creating a plan that aligns with your values, your goals and your 'Why.' A plan that secures your and your family's lifestyle against the unexpected. It means partnering with someone who can help you navigate the complexities and find clarity amidst the chaos. If you’re ready to turn your fears into a foundation for growth, let's chat. At Lamont Wealth Strategies, we’re here to help you rise above the uncertainty and build a secure, prosperous future. 👉 When was the last time you turned a fear into an opportunity? Ready to Face Everything And Rise? ──── I'm Jeffery, your wealth advisor, dedicated to helping lawyers build, protect, and transition their wealth. 🔗 Let’s connect for a Virtual Coffee Chat ☕️ and discuss how we can turn your financial fears into actionable steps toward achieving your goals.

Without a clear plan, even the best financial products can fall flat. Just ask ‘The A-Team’—they never went in without a strategy!

What's stopping you from turning your "One Day" into "Day 1"? Here's how to start now! We all have dreams and goals—financial independence, a secure future for our families, the freedom to live life on our own terms. Yet, how often do we find ourselves saying, "One Day I'll start..."? It's a comforting thought, but it's also a trap that keeps us from moving forward. But what if we shifted that mindset? What if, instead of saying “One Day,” we follow the advice of The Rock and think of today as “Day 1.” "Day 1" of your journey towards who you want to become… of your financial independence and the life you aspire to have? Here’s how you can make today your “Day 1”: 💪Embrace Your Plan: Reflect on your ‘Why’ and let it guide your goals. Whether it’s securing your and your family’s future, achieving financial freedom, or making a difference in the world, let your purpose drive your plan. 💪Safeguard Your Journey: Life is full of unexpected twists and turns. Protecting your journey means ensuring you and your loved ones are covered, no matter what life throws your way. This isn’t just about ticking boxes; it’s about building a safety net that lets you pursue your goals with peace of mind. 💪Invest with Purpose: Align your investments (time and money) with your goals and values. Understanding where your time and money is spent and how to maximize the return of both is crucial. In investing, diversification isn’t just a strategy; it’s a commitment to pursuing your ‘Why’ across all aspects of your life. Remember, the path to financial independence is as much about the journey as it is about the destination. Today is “Day 1”. Let’s embrace it together. » What’s the one change you can commit to today that would make the biggest difference in your financial future? Share in the comments below 👇 ──── I’m Jeffery, a wealth advisor specializing in lawyers' financial success. 🔗 Let's connect for a Virtual Coffee Chat ☕️ to take the first step toward the life you want to live!

Who do you see yourself as? While there's no wrong answer, it certainly helps to know who you, inherently are, as you build your financial plans.

Financial success is not accidental. As a wealth advisor, I've seen it all. Lawyers with high incomes but no savings. Others with significant assets but no growth. The common thread? A lack of strategy. Here are 5 strategies I recommend for long-term financial success. 1. Diversify your investments. Don't put all your eggs in one basket. Spread your wealth across different asset classes. 2. Automate your savings. Set up automatic transfers to your savings account. This ensures you're consistently saving, regardless of how busy you are. 3. Invest in your knowledge. Financial literacy is not optional. Stay updated on financial terms and investment opportunities. 4. Consider a financial advisor. They can provide expert advice tailored to your specific situation. 5. Plan for the unexpected. Life is unpredictable. Ensure you have an emergency fund and adequate insurance coverage. Remember, financial success is a journey, not a destination. Start implementing these strategies today. You'll be well on your way to long-term financial success. P.S: If you're interested in more financial tips, feel free to reach out. I'm always here to help. >> Which of these 5 do you want to work on the most? ──── Jeffery, a wealth advisor to lawyers. 🔗 Let's connect for a Virtual Coffee Chat ☕️ to explore the strategies to set you on your journey to becoming a Wealthy Lawyer.

Lawyers face unique financial challenges. People find out you’re an lawyer.  They make two assumptions: 1. You’re an a**hole  2. You’re wealthy I can’t help you with that first one.  But the second one is my specialty. The legal profession is a complex one. It has its own set of financial hurdles. Understanding those is half the battle. Here are some nuanced truths for you: 1. You have student loan debt. Many lawyers graduate with hefty student loans.  This debt can be a significant burden, affecting your financial stability and freedom. 2. Unpredictable income. Lawyers, particularly those in private practice, often deal with fluctuating income.  This unpredictability can make budgeting and financial planning difficult. 3. High overhead costs. Running a law firm isn't cheap.  From office space to staff, the costs quickly add up. So, how can lawyers overcome these challenges? ➜ For student loan debt, consider refinancing. These can potentially reduce your debt load. ➜ For unpredictable income, create a budget based on your lowest expected income.  This can help you manage your money more effectively. ➜ For high overhead costs, look for ways to reduce expenses. This could include negotiating with vendors or switching to more cost-effective solutions. Understanding these challenges is the first step towards overcoming them. So, don't just read this. Reflect on it, apply it, optimize it. And your financial stability as an lawyer can only improve. >> Did you graduate with student debt? How did (or didn’t you) pay it off? ──── I’m Jeffery, your wealth advisor specializing in lawyers' financial success. 🔗 Let's connect for a Virtual Coffee Chat ☕️ to discuss a plan to help you overcome life's financial challenges.

It's important to remember that financial planning isn't about looking rich, but rather, becoming wealthy.

Are you a young lawyer juggling your career, student loans, and the looming question of retirement? After 25 years of helping lawyers like you, I’ve seen how easy it is to get caught up in the day-to-day grind and overlook your long-term financial security. But here's the thing—the earlier you start planning, the easier it becomes to secure a future where you can focus on your passion without financial worry. ➜ Imagine this: A retirement plan that grows with your career, giving you the freedom to pursue your legal ambitions today while building a secure tomorrow. It’s possible, and it starts with a conversation. ──── I'm Jeffery, your wealth advisor specializing in lawyers’ financial success. 🔗 Ready to take control of your financial future? Let’s connect for a Virtual Coffee Chat ☕️ and explore how we can turn your financial goals into a reality. Don’t wait—your future starts with one conversation today! #YoungLawyers #LawCareerPlanning #RetirementGoals #FutureFocused #FinancialFreedom #LamontWealth

Did you know that four in ten adults are kept awake at night due to financial stress? Let's change that together. Over the last year, I've spoken with many who are concerned about their or their family's finances. Some have lost their jobs, while others are worried about their job security. Inflation, has wrecked havoc in every facet of our lives: ↳ grocery prices ↳ gas ↳ housing (and related costs) If you have money concerns, know that you're not alone. Money worries are a big deal for many Canadians. In fact, 40% say it's their main source of stress. Women seem to feel it more, with 43% stressed about finances. Compared to 37% of men. One way to tackle this stress is by working with a financial professional (we know some good ones 😉). Imagine having a clear plan to manage debt, save for your goals, and protect your family. It's like having a roadmap for your financial future. With clarity comes comfort. Financial peace of mind is possible. Let's make it happen. ──── I’m Jeffery, a wealth advisor to lawyers. 🔗 Let's connect for a Virtual Coffee Chat ☕️ to discuss how to help you take control of your finances and get ahead, today!