Ryan Odom | Personal Finance

@CoachMacHTX @charliebilello You missed the minus sign

Trump Media & Technology Group, Net Income... 2025: -$712 million 2024: -$401 million 2023: -$58 million 2022: -$16 million 2021: -$2 million $DJT

$30 to go 1 mile. @robotaxi can’t come soon enough

@ramit I’d be fine paying more tax if the budget were balanced & fraud was a bipartisan issue

Posting about income equality and not getting underperforming right-wing men earning $55,000/year to shriek incoherently about why taxing billionaires would be unfair

@amyforsandiego 👏

California Torrey Pines Principal Rob Coppo RESIGNS after I exposed this: A student suspended for a “We ❤️ ICE” sign, while “Your mom’s a HOE if you’re ICE” got a pass. Coppo doubled down and now he’s out just 8 days since the 1st post. Everyone sees the double standard now.

@trentjhughes Yeah. Yesterday @ Strands

Just pay the California taxes...

@wholemars LAX is next level stupid

That’s not going to do anything to solve congestion your dumbfucks. People will just be paying more, or have their friends circling the loop waiting for them for half an hour.

@battleangelviv Yeah

just pay the california taxes bro

@trentjhughes I love Denver😂 United terminal is great, security is always less than 5 mins even on holidays

Worst airports I've spent too much time in Denver Newark LAX Dallas Love Field Chicago O'Hare Charlotte Crowded Delayed Gates miles apart Any I'm missing?

@trentjhughes Also, Dallas after COVID is not Dallas. Used to love it there

@trentjhughes Boulder was such a disappointment to me. Heard good things. Went out for a day trip from Denver (where we are now). Liberal hellhole, which we expected. Seemingly anti-dog in the pearl street area. Shopping was eh. Hiking seemed eh. Preferred Fort Collins over Boulder.

Most underrated cities I've ever spent time in Bentonville, Arkansas Draper, Utah Boulder, Colorado Oklahoma City, Oklahoma Tampa, Florida Dallas, Texas Nobody talks about these as top places for jobs or entrepreneurship All of them surprised me

29-year-old Makes $200K/year base as a W-2 with a 30% bonus each year and another $40K/year or so in 1099 contracts/consulting income. Here's a glimpse of what we've been looking at and why: 1 - He maxes out his company 401K pre-tax. Gets a 4% match. And has been doing this for a few years already. Contrary to what many might think I'd say, I suggest he reduce this down to his company match at 4% since he already has $140K in his 401K and he worries about liquidity, the job market, economy, AI, etc. Just like being house poor is a thing, being 401K poor is a thing where $ is locked up and requires taxes/a penalty to access. Not everything has to be optimized for taxes even though I am "tax guy" 2 - Backdoor Roth. Still an easy one he can hit that puts already taxed dollars into a tax-free Roth IRA. $7K for 2025. $7.5K for 2026. Just doing this from age 27 - 47 for example saves $100K+ in future capital gains taxes and more liquidity than a 401K has 3 - 1099 consulting income. Even though I knock the 401K with his W-2 plan I suggest opening a solo 401K for his 1099 consulting income simply because he can use it for the mega backdoor Roth. Example: Do $30K as a mega backdoor Roth instead of pre-tax employee contributions that would lock funds up. The $30K goes to a Roth IRA where it grows tax-free and he can take out what he puts in anytime, tax-free and penalty-free. A great middle ground that gives him liquidity AND tax benefits and something we are doing with a ton of people right now. His call on what he wants to do but definitely in the conversation and a great move to consider 4 - Student loans. If he's really worried about the job market, economy, AI, etc and wants to make himself more bulletproof, he can pay off ~$12K of student loans. Not the best move by the #s at all but not everything has to be about the #s, or taxes. It'd free up cash flow and reduce his month-to-month fixed costs. 5 - HSA. He switched to a high deductible health plan and now makes auto contributions to his HSA plan. Again, the decision to make is whether to optimize for taxes or optimize for liquidity. Taxes = use HSA. Liquidity = use taxable brokerage or mega backdoor Roth from bullet 3. 6 - $188K in his taxable brokerage account and $58K in Roth IRA. My only suggestion is to keep it simple. Don't pick stocks unless we're doing less than 5-10%. Don't time markets, just ignore the headlines and stick to auto-investments. Don't turn off if/when things go down. Don't turn off if/when things go up and don't chase things running up (gold, silver, international/emerging markets, etc). His upside, if he wants it, is to make more $ so that his $2K/month investments can be $20K/month. Never seen a $2K/month plan beat a $20K/month plan 7 - Direct indexing. Although there is clear upside and merit for adding this to his plan, he's declining it (which I love!). Doesn't want another account out there and wants simplicity vs. more complexity and more optimized

@trentjhughes Where were you in CA?

Looked at 6 cities when I left California for a bit Austin Nashville Charleston Raleigh Wilmington NC Tampa Wilmington, North Carolina won $400k house near the beach Stress dropped immediately Was an awesome place Where you live can have such a big impact on everything

Competence is great but the other person feeling like you care, in my experience, matters 10x more. That and quick responses

@TaxAlphaInsider 🎯

Anyone arguing that direct indexing is operationally difficult to manage is confused and strawmanning. Direct indexing has drawbacks worth considering (tracking error, fees, potential negative tax alpha, tax-loss harvesting decay, jurisdiction mismatch, etc.). But the operational lift is commoditized.

@ChesshirSteve Just did

@ryanmarkodom Yes please dm me for more info. Interested!

Everything that can still be done for 2025 taxes: 1 - Solo 401k. My favorite account out there that I talk about way too much. For a good reason. Up to a $70K tax deduction. Or it can be used to get $70K into a Roth IRA for the 2025 tax year. Or any mix of the two. Example: Helped somebody yesterday open a solo 401k who had $76K of sole proprietor profit in 2025. He put in $14.4K as a deductible employer contribution and then $55.6K as a mega backdoor Roth on top of the $23.5K he maxed out at his regular W-2 job. Crazy fun move that his Northwestern Mutual advisor had not told him about over the past 3 years that he's had self-employment income 2 - Retroactive backdoor Roth. The way for high earners to still get $ inside of a Roth IRA every single year. $7K for 2025. Just have to watch out for the pro rata rule and move any rollover IRAs, SEP IRAs, or SIMPLE IRAs to a 401K plan (like a solo 401k for those who are eligible for step 1) before 12/31/2026. Repeat for a spouse even if they don't have income 3 - HSA. For those who were enrolled in a high-deductible health plan in 2025 4 - Make sure all deductions and expenses are logged. Home office. Vehicle. Health insurance. S corps must run reimbursements through an accountable plan which gets missed all the time. Verify with your CPA that these expenses are being received. Example: My home office is a $5,901 deduction, mileage for business travel was another few thousand, and then $4,518 for health insurance which would all get missed if I wasn't paying attention 5 - QBI deduction. This is an added benefit of the previous steps and usually happens with proactive planning but something to consider. Example: Somebody makes $250K filing single and a sole prop. They'd get a $0 QBI deduction because of phase-outs. However, they could do a $70K deductible contribution to their solo 401K and get an added $36K QBI deduction for doing this. Total would be $106K in deductions for the 2025 tax year which saves $28K in taxes federally plus any state tax savings (like 9.3% for me in California) Then 2026 planning begins. DMs are open and feel free to reach out if you've been wondering what we might be able to do for you/want help implementating these things for you

@RhysSullivan 😂

i gave Claude access to my financial data and asked for suggestions and it told me to leave California 💀

@Budgetdog_ Yeah

Can’t eat Chipotle anymore. Officially retiring it. Makes me sick. Sad day tbh.

@CollinRugg 😂

NEW: Allen, the A&W guy, releases a burger ad mocking McDonald's CEO Chris Kempczinski's recent burger review. The video comes as Wendy's and Burger King have jumped on the trend, making fun of the McDonald's video. "Mmm. That is a big bite of a teen burger... See you at lunch, Chris."

@lindsaybitcoin Not even a gold member. Been on platform since 2017 tho

@ryanmarkodom 😭😭

Me: *comments on a post about how I’ve been on the waitlist for the $HOOD gold card forever* Robinhood: please provide your username and we’ll review your gold card waitlisting Me: okay here you go Robinhood: we reviewed and we can’t remove you from the waitlist Why 🙃