Pat Briskey
5.5K posts
Pat Briskey
@PatBriskey
Investment firm owner, father, and husband. Unaffiliated with any political party. Ice cream parties are less stressful.
参加日 Ocak 2015
699 フォロー中299 フォロワー
All the highest performers I know have one specific quality
They figure shit out
And they do not make excuses
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@TKopelman 10-year NQ Indexed Annuities for those in the 10% and 12% tax brackets.
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Financial planning tools that I am not a huge fan of:
- ROBS plan (lots of added complexity to run the business)
- Buying real estate in self directed IRA (lost tax advantages, no more backdoor Roth IRA)
- Complex tax shelters or “too good to be true” deductions (think aggressive conservation easements)
- Investment deals with friends (a few friends crowd sourcing real estate purchase)
- Annuities inside 401(k)s (so annoying to move, roll to a new 401(k), etc)
- life insurance as an investment (has it's use cases, but not an efficient investment)
What others would you add?
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@MarkTMeredith I received a similar letter in 2007. Scary then, now a faded memory. Congrats to your success!
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7 years ago was a dark time. I was certain the business I just started would be ruined by a frivolous lawsuit.
10 weeks later our daughter was born just barely escaping the jaws of death at birth. The business had to be run temporarily from the NICU.
Those were bad times. Now we are living the good old days.
Mark Meredith, CFP®️@MarkTMeredith
Some people ask me what it's like to start an RIA. My first day people already were sending me letters congratulating me.
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@averagejoelle Kudos to you and @dougboneparth, interesting convo with Barry. Good stuff.
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It’s very hard to show up week after week and write about a topic people don’t want to talk about.
It’s easier to talk about investing. Interest rates. Budgeting.
It’s harder to look in the mirror and ask whether your behaviors with money are hurting the people you love.
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Any RIAs using @smartriaco , @riainabox , or @orionwealthtech for Compliance programs? Would like to hear and learn from your experience and preferences.
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I've got dozens of finance templates. But this is one of the most important for business owners.
If you don’t know your monthly burn and runway, you’re not running a business. You’re running on hope.
Want it?
Like + comment “cash”
And I’ll send it to you (must follow).
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Me: “Are you an adjustable rate mortgage? Because my interest in you just rose.”
Her: “No, I’m more like an IRA and you’re like a municipal bond. We don’t belong together.”
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@iancassel Amen. I took my wife, daughter, and granddaughter (not yet born) out for ice cream tonight. Extremely favorable cost to smile ratio.
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Don't anchor your self-worth to your net worth. Almost everything that is important in life can't be measured in dollars.
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one of my favorite views for clients is the 5-year cash flow report
a clean, forward-looking view of:
• Income
• Spending
• Taxes
• Liquidity events
• Major purchases
• Expected surplus or shortfall
there's nowhere to hide
most financial stress lives in the next 24-48 months
not in 2065
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I’m no financial advisor, but our highest-yield investment by far is…
Doggy daycare
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@patrickdichter Congrats! Shout if you ever need a sounding board.
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I passed the series 65 exam yesterday so we can offer financial planning services.
I was studying my ass off for a couple months and haven’t had to lock in like that in a long time - so glad it’s over. Now it’s time to build the business and help clients.
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@TKopelman Now do:
I want high investment returns and want to preserve principal.
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"I want to reduce my taxes but I do not want to reduce my cash flow"
Most tax planning is spending or investing
There is no magic bullet to just reduce taxes out of thin air
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@TKopelman It’s like saying you’ve done great on offense (investments, assets), while relaxing on defense (estate planning, insurance). Defense wins championships.
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Here’s a strong belief I have
You can’t say you’re doing well financially if you don’t have an estate plan or the proper insurances in place
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@PatBriskey @INEstateLaw There were soooo many puns I could use! 😂 “Dead serious” won. Lol
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Dead serious about our legal work. Decidedly less serious about ourselves.
Happy almost-Halloween from the @INEstateLaw team! 🎃
Jenny Rozelle@jennyrozelle
My almost-twenty person team is very rarely in the same room together, but today, we’re having our on-site quarterly Team Retreat! Looking forward to being together, discussing Q3, and chatting about what’s coming in Q4 and beginning of …2026. 🤯
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