My newest clients make $350k/yr but are still winging it with their finances

They want to save $$ on taxes and retire in the next 15 years

Here’s 5 simple steps we took to save them $30k this year and get them on track for their goals

(With visual examples) First, a disclaimer: none of this is tax or investment advice.

Here’s the setup:

My clients are both 45 years old - he is a business owner and she works a corporate job and they make $360k combined

They came to me with the following cash flow situation

My newest client has $2.5m in a 401k and needs to buy a home

She *almost* made a common mistake that cost $150k+ in taxes..

Here's the mistake & what we’re doing instead: The setup:

- $2.5m in a pre-tax 401k
- $150k in W2 salary
- Retiring and buying a house for around $700k

Before she reached out to us, this was her plan:

After 7 years of helping multi-millionaires manage their wealth

I can confidently say 99% of money & tax advice on social media is B.S.

Here are 6 real world strategies everyone should know: First an important disclaimer: none of this is financial/tax advice. Tax rates and laws are subject to change.

If you don’t have time to read this entire guide now, make sure to bookmark it for later.

Now onto the good stuff…

At age 73 all 401k owners are required to make distributions from their account - aka RMDs

Essentially, an RMD is the gov't saying: “Okay, you’ve deferred taxes long enough - time to pay up”

Here’s how to calculate your RMD (and how to minimize the tax bill): You need to know two things for this calculation

1- Account balance at the end of the previous year
2- Divisor - from Uniform Life Table

The formula is (Account balance / Divisor) = RMD

Rent vs. Buy - people love to argue about it..

But no one runs the numbers, so I did.

Here’s the complete breakdown with examples

(Plus a free calculator for yourself at the end): I had to write this thread because this is such a highly debated topic, but I rarely see people show the actual numbers

This is a detailed breakdown - make sure to read to the end to find the free calculator

Don’t forget to bookmark this thread if you want to save it for later

My newest client has $2.5m in a 401k and needs to buy a home

She *almost* made a common mistake that cost $150k+ in taxes..

Here's the mistake & what we’re doing instead: The setup:

- $2.5m in a pre-tax 401k
- $150k in W2 salary
- Retiring and buying a house for around $700k

Before she reached out to us, this was her plan:

IRA & Roth IRA deadlines for 2024 are coming up in 12 days...

Here’s what you need to know before April 15th: First- this thread breaks down everything you need to know about Roth and Traditional IRAs

If you don't have time to read it now make sure to bookmark it and read it before the deadline of April 15th.

Now, onto the good stuff...

Tax efficient investing isn’t about flashy Tik Tok tax hacks

It’s about the simple, tried and true strategies that can save anyone hundreds over thousands over a lifetime

Here are the strategies I use for my clients (and myself) every single year: First an important disclaimer: none of this is financial/tax advice. Tax rates and laws are subject to change.

If you don’t have time to read this entire guide now, make sure to bookmark it for later.

Now onto the good stuff…

70% of Americans contribute to a 401k for retirement.

Yet no one understands the rules around pulling money out

Let’s change that.

Here’s the ultimate guide to 401k distributions: Before we get started

If you’re interested in rules and best practices around 401k distributions

Make sure to bookmark this thread!

Every year, millions of Americans look for the best ways to save for education.

But many overlook one of the most powerful tools available

Here's the simple guide to understanding the 529 plan: Before we get started, if you don't have time to read this entire guide now, make sure to bookmark it for later.

Also an important disclaimer: none of this is financial advice. Only education.

Now onto the good stuff...

HSAs have a triple tax benefit - beating all other investments.

- Tax-deferred contributions
- Tax free growth
- Tax-free withdrawals

But there are so many details people overlook.

Here's the simple guide to making the most out of your HSA: Before we get started, if you don't have time to read this entire guide now, make sure to bookmark it for later.

Also an important disclaimer: none of this is financial advice. Only education.

Now onto the good stuff...

Every year 1.7 million Americans receive an inheritance.

But most have no idea what to do with it.

Here's the simple guide to dealing with an inheritance: 1- Understand what you are inheriting:

There are 3 basic tax types of assets you might inherit

- Taxable
- Pre tax
- Roth

It’s 2025 and with that comes new tax rules from the IRS.

Here’s 11 details you need to be aware of and what they mean for your money: Before we start, make sure to bookmark this thread if you wan to reference it later or if you don’t have a chance to read it now

Now, onto the good stuff -

After reviewing 100’s of 401k plans for clients I’ve realized less than 10% of people are maximizing the accounts' potential

Here are the things 90% of people are most overlooking.

(If you have a 401k - bookmark this thread!) The number 1 thing people miss:

Education

Before you sign up for a 401k you should understand these things:

‘Financial planning’ sounds boring but it is essential for success.

Here’s everything you need to know in 5 mins: A financial plan outlines various ways to get from where you are to where you want to go.

But more importantly, it helps you define what money means to you.

To create a basic financial plan you need the following:

1/3rd of Americans have a taxable investment account

But after working as a financial planner I can confidently say it's rarely used to its full potential.

Here’s EVERYTHING you need to know to get the most out of your taxable investments: Before we get started

This thread is a masterclass on all thing taxable investment accounts

If you don’t have time to read it all now make sure you Bookmark the post above and come back to it later

Now, onto the good stuff..

My newest client paid 6 figures in taxes last year.

I’ll use these 13 strategies to save him millions over his lifetime: My client:

• Makes great money
• Solo business owner
• Gives to the IRS like it’s a charity🤦‍♂️

He wanted to:

• Reduce his tax bill
• Invest in passive assets
• Protect his wealth and diversify

This is what we did:

This year my client is making mid 6 figures and paying taxes at a 37% marginal tax rate.

Next year he will live off of cash and pay near $0 in taxes.

This is the strategy we’re using to take advantage of his change in income:

🧵Bookmark this for later to save on taxes🧵 A Roth conversion is simply rolling money from a traditional (pre-tax) account to a Roth (tax free) account.

You can do this:

- At any time
- With any amount of $$

You only pay taxes on the $$ converted in the current year, never again

A couple came to us recently..

They’ve both worked a full time job for 30+ years, raised a family, saved and invested

But now they’re ready to move onto the next stage of their life

Here's the step by step breakdown of how we crafted them a clear path to early retirement: 1. Defined goals and values.

First things first- we had a conversation.

Figuring out the why behind their goals is important

This is where an objective 3rd party can be powerful...

Roth IRAs are a wealth building machine.

But they can be confusing.

After working with 100s of clients I've seen all of the common pitfalls

Here are the things you must know before investing in a Roth IRA: Before we get started

If you’re interested in rules and best practices around Roth IRAs

Make sure to bookmark this thread!

Now, onto the good stuff...

70% of Americans contribute to a 401k for retirement.

Yet no one understands the rules around pulling money out

Let’s change that.

Here’s the ultimate guide to 401k distributions: Before we get started

If you’re interested in rules and best practices around 401k distributions

Make sure to bookmark this thread!