Your First $1M: A Step-by-Step Roadmap for High Earners

Michael Brewitt |
Categories
HENRY’s

Your First $1M: A Step-by-Step Roadmap for High Earners

You’re making great money, but building real wealth still feels just out of reach. You’re not alone - many HENRYs (High Earners, Not Rich Yet) find themselves wondering how to turn strong income into lasting financial freedom. The truth is, your first million isn’t about luck or flashy investments - it’s about clarity, structure, and momentum.

 

At Brewitt Financial, we specialize in helping high earners like you navigate all aspects of your financial life - from tax strategies and investment planning to goal setting and protecting what matters. Here's a roadmap to get you moving toward that first big milestone:

Step 1: Know Your Numbers

Start by understanding where your money is going. High income often comes with high spending. We’ll help you create a clear snapshot of income, expenses, debt, and net worth so you can make intentional choices.

Step 2: Build a Smart Cash Flow System

Set up automated saving and investing systems that pull from each paycheque - before it disappears into lifestyle creep. This is where TFSAs, RRSPs, and high-interest savings accounts come into play.

Step 3: Invest Consistently (Not Emotionally)

We help clients stick to long-term strategies that work - with diversified portfolios tailored to your goals and comfort with risk. Dollar-cost averaging helps smooth out the ride.

Step 4: Minimize the Tax Drag

HENRYs in Canada often overpay in tax simply because no one has shown them how to optimize. We review RRSP strategies, TFSA usage, income splitting, and (when applicable) incorporation opportunities.

Step 5: Protect What You’re Building

As wealth grows, so does the risk. Insurance, wills, and estate planning aren’t glamorous, but they’re essential to protect your progress.

Step 6: Review and Refine Regularly

Life moves fast - your plan should keep up. Whether you get promoted, start a family, or buy property, we’ll adjust your plan to fit your life in real time.

Building your first million isn’t about timing the market or giving up lattes. It’s about being intentional, having the right strategy, and working with a partner who knows the path. At Brewitt Financial, we’re here to help you build real wealth - with less stress, more clarity, and a plan that fits your life.

If you’re ready to take the next step, let’s talk. Your future self will thank you.