Giving back to the men and women in blue

Laidlaw is proud to serve those who so valiantly serve and protect us.

Our mission is to bring our services and financial expertise to the New York based Law Enforcement Community.

Laidlaw Blue is a division within Laidlaw Wealth Management run by John McDermott. As a retired NYC Detective, John has extensive relationships within the NYC Law Enforcement Community. His status as a retired Detective uniquely positions him to establish a deep connection between Laidlaw Blue and the NYC Law Enforcement Community.

For more information contact John McDermott (212) 953-4992

The Goal: To work with the men and women of the NY Law Enforcement Community to address their personal financial goals. Laidlaw Blue will offer financial planning, investment & risk management, insurance services and estate planning services to help the Law Enforcement Community provide financial security and stability for themselves and their families. Many officers lack the resources to obtain comprehensive financial planning. Our goal is to offer comprehensive financial planning at an affordable cost.

Giving Back

Laidlaw Blue partner John McDermott coordinates the donation and distribution of hand sanitizers to the NYPD

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Securing Your Financial Future: A Guide for Law Enforcement Officers

Building a strong foundation
Introduction: Welcome to “Securing Your Financial Future,” a blog series dedicated to helping law enforcement officers plan for a financially stable future. In this episode, we will explore the essential steps you can take to build a strong financial foundation, ensuring that your hard-earned income supports you and your loved ones for years to come. Let’s dive in!
The Importance of Financial Planning: As a law enforcement officer, you face unique challenges and risks in your line of duty. A solid financial plan is crucial to safeguarding your financial well-being, enabling you to weather unexpected emergencies, plan for retirement, and achieve your long-term financial goals. By taking control of your finances today, you can build a more secure tomorrow.


  1. Budgeting for Financial Success: The first step toward financial security is creating a comprehensive budget. Start by analyzing your income and expenses, categorizing them into essential (e.g., housing, utilities, food) and discretionary (e.g., entertainment, dining out) expenditures. Set realistic spending limits for each category and track your expenses diligently to identify areas where you can save money.
  2. Emergency Fund: Your Safety Net: Establishing an emergency fund is crucial for law enforcement officers who often face unpredictable circumstances. Aim to save three to six months’ worth of living expenses in an easily accessible account. This fund will provide a safety net during unforeseen situations such as medical emergencies, home repairs, or temporary unemployment./li><
  3. Managing Debt Wisely: Debt can be a significant burden on your financial future. Evaluate your existing debts, such as credit cards, student loans, or car loans, and create a plan to pay them off systematically. Prioritize high-interest debts while making minimum payments on others. Consider refinancing options or reaching out to credit counseling agencies for assistance in managing and reducing your debt load.
  4. Protecting Your Income and Assets: As a law enforcement officer, protecting your income and assets is paramount. Evaluate your insurance coverage, including life, health, disability, and homeowners or renters insurance. Ensure that your policies provide adequate protection for you and your loved ones in case of unexpected events. Additionally, consider setting up a will, power of attorney, and healthcare proxy to safeguard your assets and make your wishes clear.
  5. Saving for Retirement: Retirement planning is essential to enjoy a financially secure future. Explore retirement account options such as 401(k)s or IRAs and take full advantage of any employer matching contributions. Determine your retirement goals and calculate how much you need to save each month to reach them. Even small contributions made early in your career can have a substantial impact due to the power of compounding.


Conclusion: Building a strong financial foundation is a vital step in planning for your future as a law enforcement officer. By following the steps outlined in this episode, you can gain control over your finances, protect yourself and your loved ones, and pave the way for a comfortable retirement. Stay tuned for the next episode of “Securing Your Financial Future,” where we will delve deeper into retirement planning strategies specifically tailored to law enforcement officers.

Disclaimer: The information provided in this blog series is for educational purposes only and should not be considered financial advice. Please consult with a certified financial planner or advisor before making any financial decisions.

Securing a Bright Future

Introduction: Welcome back to “Securing Your Financial Future.” In this episode, we will focus on retirement planning strategies specifically tailored to law enforcement officers. As you dedicate your life to public service, it is crucial to ensure that your retirement years are comfortable and financially secure. Let’s explore some key considerations and strategies for planning your retirement.

  1. Define Your Retirement Goals: Start by envisioning your ideal retirement lifestyle. Consider factors such as where you want to live, the activities you wish to pursue, and the financial resources required to support your desired lifestyle. Having a clear vision of your retirement goals will guide your financial planning decisions.
  2. Calculate Your Retirement Needs: Estimate the amount of money you will need in retirement to cover your living expenses and any additional goals, such as travel or hobbies. Consider factors such as inflation, healthcare costs, and potential longevity. Online retirement calculators can help you determine the approximate amount you should aim to save.
  3. Take Advantage of Retirement Accounts: As a law enforcement officer, you likely have access to retirement savings plans such as a 401(k) or 457(b). Maximize your contributions to these accounts, particularly if your agency offers matching contributions. Contribute at least enough to meet the match to take advantage of the free money offered.
  4. Explore Deferred Compensation Plans: Some law enforcement agencies offer deferred compensation plans, such as a 457(b) or a 403(b), which allow you to set aside additional funds for retirement on a tax-deferred basis. These plans provide an opportunity to boost your retirement savings beyond what is available through traditional retirement accounts.
  5. Understand Pension and Retirement Benefits: Law enforcement officers often enjoy pension plans as part of their retirement benefits. Familiarize yourself with the specifics of your pension plan, including eligibility requirements, vesting periods, and the calculation of your pension benefits. Understand how your pension integrates with other retirement savings to ensure a comprehensive retirement income plan.
  6. Diversify Your Investments: While retirement accounts and pensions provide a solid foundation, consider diversifying your investments beyond these avenues. Explore other investment vehicles, such as individual retirement accounts (IRAs), mutual funds, stocks, or real estate. Diversification can help mitigate risk and potentially increase your investment returns.
  7. Seek Professional Guidance: Retirement planning can be complex, and seeking the advice of a certified financial planner or retirement specialist can be invaluable. They can help you navigate the intricacies of retirement planning, create a personalized strategy, and make informed investment decisions aligned with your goals and risk tolerance.

Conclusion: Planning for retirement is a crucial step in securing your financial future as a law enforcement officer. By defining your retirement goals, maximizing contributions to retirement accounts, understanding pension benefits, diversifying your investments, and seeking professional guidance, you can create a solid foundation for a comfortable retirement.

Disclaimer: The information provided in this blog series is for educational purposes only and should not be considered financial advice. Please consult with a certified financial planner or advisor before making any financial decisions.

Taking Control of Your Financial Health

Introduction: Welcome back to “Securing Your Financial Future.” In this episode, we will focus on managing debt effectively and optimizing your savings as a law enforcement officer. By adopting strategies to reduce debt and increase savings, you can take control of your financial health and pave the way for a brighter future. Let’s explore these important aspects in more detail.

      1. Assess and Prioritize Your Debt: Begin by assessing your current debt situation. Make a list of all your debts, including credit cards, student loans, car loans, and any other outstanding balances. Prioritize them based on interest rates, focusing on higher-interest debts first. This approach allows you to save more money in the long run by minimizing the amount paid in interest.
      2. Create a Debt Repayment Plan: Develop a realistic debt repayment plan to systematically pay off your outstanding balances. Consider two common strategies: the debt snowball method and the debt avalanche method. In the snowball method, you pay off the smallest debts first, gaining motivation and momentum as you eliminate individual balances. The avalanche method involves tackling debts with the highest interest rates first, saving more money over time. Choose the approach that aligns with your financial goals and preferences.
      3. Review Your Spending Habits: Take a close look at your spending habits and identify areas where you can cut back or eliminate unnecessary expenses. This could involve reducing dining out, entertainment expenses, or subscription services. Redirect the money saved toward debt repayment and savings. Small adjustments in your daily spending habits can make a significant difference in the long run.
      4. Automate Your Savings: Automating your savings is an effective way to build wealth over time. Set up automatic transfers from your checking account to a separate savings account or investment vehicle. This “pay yourself first” approach ensures that a portion of your income is consistently allocated toward savings, even before you have a chance to spend it.
      5. Take Advantage of Employee Benefits: As a law enforcement officer, familiarize yourself with the employee benefits offered by your agency. Many agencies provide additional savings opportunities, such as flexible spending accounts (FSAs) or health savings accounts (HSAs). Maximize your contributions to these accounts to take advantage of tax benefits and save on healthcare expenses.
      6. Consider Supplemental Income: Explore opportunities to generate supplemental income outside of your regular job. This could involve taking on part-time work, freelancing, or starting a side business. The additional income can be used to pay off debt more quickly or boost your savings, accelerating your path to financial freedom.
      7. Regularly Review and Adjust Your Financial Plan: Financial planning is not a one-time event. Regularly review your financial plan, reassess your goals, and make adjustments as needed. Life circumstances and priorities change, and your financial plan should adapt accordingly. Stay informed about new investment opportunities, tax laws, and retirement planning options that may benefit you as a law enforcement officer.

Conclusion: By taking control of your debt, optimizing your savings, and making smart financial choices, you can pave the way to financial freedom. Develop a debt repayment plan, review your spending habits, automate savings, leverage employee benefits, consider supplemental income, and regularly review and adjust your financial plan. These steps will help you achieve a healthier financial future.

Disclaimer: The information provided in this blog series is for educational purposes only and should not be considered financial advice. Please consult with a certified financial planner or advisor before making any financial decisions.

Growing Your Wealth

Introduction: Welcome back to “Securing Your Financial Future.” In this episode, we will focus on building a diversified investment portfolio specifically tailored to the needs of law enforcement officers. By implementing effective investment strategies, you can grow your wealth and work towards achieving your long-term financial goals. Let’s explore these strategies in detail.

        1. Understand Your Risk Tolerance: Before diving into investments, it’s essential to assess your risk tolerance. Consider your time horizon, financial goals, and comfort level with market fluctuations. As a law enforcement officer, your stable income and pension may provide a solid foundation, allowing you to take on a moderate to aggressive investment approach, depending on your personal circumstances.
        2. Establish Clear Investment Objectives: Define your investment objectives based on your financial goals. Are you investing for retirement, education, or a specific milestone? Clearly identifying your objectives will guide your investment decisions and help you stay focused on the big picture.
        3. Diversify Your Investments: Diversification is key to managing risk and maximizing returns. Allocate your investments across various asset classes, such as stocks, bonds, mutual funds, and real estate. Within each asset class, diversify further by investing in different industries or geographic regions. This approach helps reduce the impact of volatility in any one investment.
        4. Consider Retirement Accounts: Maximize your contributions to retirement accounts, such as a 401(k), 403(b), or IRA. Take advantage of tax benefits and employer matching contributions when available. These accounts offer a long-term investment opportunity and can provide a significant boost to your retirement savings.
        5. Explore Index Funds and ETFs: Index funds and exchange-traded funds (ETFs) are cost-effective investment options that provide broad market exposure. They track specific market indexes and offer diversification across a range of securities. Consider allocating a portion of your portfolio to these passive investment vehicles, which often have lower fees compared to actively managed funds.
        6. Seek Professional Guidance: Investing can be complex, and seeking the advice of a certified financial planner or investment professional can be invaluable. They can help you assess your risk tolerance, develop a personalized investment strategy, and provide guidance on asset allocation and investment selection. A professional can also assist with periodic portfolio reviews and adjustments as needed.
        7. Stay Informed and Monitor Your Portfolio: Stay updated on financial news and market trends that may impact your investments. Monitor your portfolio regularly to ensure it remains aligned with your investment objectives and risk tolerance. Rebalance your portfolio periodically to maintain diversification and adjust your asset allocation based on changing market conditions or your evolving financial goals.

Conclusion: Building a diversified investment portfolio is a crucial step towards growing your wealth as a law enforcement officer. Understand your risk tolerance, establish clear investment objectives, diversify your investments, consider retirement accounts, explore index funds and ETFs, seek professional guidance, and stay informed about market trends. By following these strategies, you can work towards achieving your financial goals and securing a prosperous future.

Disclaimer: The information provided in this blog series is for educational purposes only and should not be considered financial advice. Please consult with a certified financial planner or advisor before making any financial decisions.

Safeguarding Your Financial Future

Introduction: Welcome back to “Securing Your Financial Future.” In this episode, we will focus on protecting your investments and planning for unexpected financial events. While building wealth is important, it’s equally crucial to take steps to safeguard your hard-earned assets and prepare for unforeseen circumstances. Let’s explore strategies to protect your investments and plan for the unexpected.

      1. Review and Adjust Your Insurance Coverage: Regularly review your insurance policies to ensure they provide adequate protection for your investments and personal assets. Consider homeowners or renters insurance, umbrella liability insurance, and auto insurance. Additionally, evaluate your life insurance coverage to provide financial security for your loved ones in case of an untimely event.
      2. Understand Investment Risks: Investing involves risks, and it’s important to understand and manage them effectively. Educate yourself about the risks associated with various investment vehicles and strategies. Consider your risk tolerance, diversify your portfolio, and set realistic expectations for investment returns. Avoid making impulsive decisions based on short-term market fluctuations.
      3. Emergency Fund: The Importance of Liquidity: Maintain an emergency fund separate from your investment portfolio. This fund should consist of three to six months’ worth of living expenses and be easily accessible in case of unexpected events, such as job loss or medical emergencies. Having a sufficient emergency fund provides a safety net and helps you avoid tapping into your investments prematurely.
      4. Estate Planning and Wills: Developing an estate plan is essential for protecting your investments and ensuring your assets are distributed according to your wishes. Consult with an estate planning attorney to establish a will, designate beneficiaries, and set up any necessary trusts. Regularly review and update your estate plan as your circumstances change or new laws come into effect.
      5. Protect Against Identity Theft and Fraud: In today’s digital age, protecting your financial information is crucial. Safeguard your personal data by using secure passwords, enabling two-factor authentication, and being cautious with sharing sensitive information online. Monitor your financial accounts regularly for any suspicious activity and report any potential cases of identity theft or fraud immediately.
      6. Plan for Long-Term Care: As you plan for the future, consider the potential need for long-term care. Research long-term care insurance options and evaluate whether they align with your needs and financial capabilities. Long-term care insurance can help cover the costs of assisted living, nursing homes, or in-home care, providing you and your family with peace of mind.
      7. Regularly Reassess Your Financial Plan: Periodically review your financial plan to ensure it remains aligned with your goals and circumstances. Life events, market conditions, or changes in financial regulations may require adjustments to your investment strategy or risk management approach. Stay proactive in monitoring your investments and adapting your financial plan as needed.

Conclusion: Protecting your investments and planning for unexpected financial events is crucial for securing your financial future. Review and adjust your insurance coverage, understand investment risks, maintain an emergency fund, establish an estate plan, protect against identity theft and fraud, plan for long-term care, and regularly reassess your financial plan. By implementing these strategies, you can mitigate risks and ensure the long-term stability of your investments.

Disclaimer: The information provided in this blog series is for educational purposes only and should not be considered financial advice. Please consult with a certified financial planner or advisor before making any financial decisions

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