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Travis Gatzemeier, CFP®

20 Jul, 3 tweets, 1 min read

This morning I decided to jot down as many “money philosophies” as I could in 5 minutes:

//Thread\\

•Invest in things that appreciate
•Create tax efficiencies
•Buy experiences over things
•Inflate lifestyle less than savings

2/3
•Use insurance for insurance and not as an investment
•Don’t just invest for retirement, invest for optionality
•Have cash ready for emergencies and opportunity
•A home is for stability not an investment
•Pay yourself first, spend the rest however you want

3/3
•Earnings and saving rate are more powerful than stock market returns
•Today’s headlines are noise that don’t impact long term money
•Diversify income sources

• • •

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Travis Gatzemeier, CFP®

@T_Gatzemeier

5 May

Pros and cons of directly holding digital assets vs. trusts vs. ETFs (one day): 👇

Digital assets directly: -Pros-

1. Considered property by the IRS (no wash sale rule).
2. You can hold it on or off-exchange and decide where to store it.
3. Use as currency or store of value.

-Cons-

1. You have to keep it properly secured.
2. You have to decide how and where to hold it.
3. If you dispose of, spend, or exchange at a gain, it's taxable.

Now what about #DigitalAsset Trusts 👇

#Crypto Trusts: -Pros-

1. Easier to purchase in an IRA.
2. It's easier to hold and manage.
3. Less worry about securing it.
4. You get exposure without worrying about storage or wallets.

Read 6 tweets

Travis Gatzemeier, CFP®

@T_Gatzemeier

4 May

Running your own self-employed business is tough! A tool that can potentially help save more and/or reduce tax is the solo 401k!

A //THREAD\\ on its benefits and some FAQ...

First, let's start with the benefits and why I like the solo 401k 👇

1/9

1️⃣ Invest more: Offer higher contributions over IRAs

2️⃣ The spouse exception! If your spouse earned income from the business as an employee, they can contribute and get profit-sharing $. This can double the contributions!

2/9

3️⃣ Reduce taxes: Pre-tax contributions reduce taxable income. Higher limits allow for the ability to pay less tax to Uncle Sam.

4️⃣ Roth solo 401k: Ability to add a Roth Solo 401k in addition to traditional solo 401k to make Roth contributions without income limits.

Read 10 tweets

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Travis Gatzemeier, CFP®

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Travis Gatzemeier, CFP®

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