Michael Walstedt, CFA

Chad Ochocinco says he saved 83% of his $49,000,000 NFL salary and refuses to let financial advisors who "never made it" tell him what to do with it "You don't know who to tell no to. You got all these investment people. You know how many horror stories there are about NFL players that invest in companies?" "The best investment person is yourself. Do your homework. You don't need all these people because if they knew… name one investment person that's in a position that's rich" "Don't tell me how to handle my money when you haven't made it yet, to give me an example of what I should do. We put our money in too many people's hands. You don't know what's going on"

If you’ve become even remotely successful in your profession, one of the greatest things you can do is give some of your time to those attempting to follow in your footsteps. A 30-minute conversation can literally change someone’s life. It’s such an incredible giveback.

If you work in tech and your 401(k) holds company stock, this is worth 3 minutes of your time. Let's say your company matches your 401(k) contributions with company stock, or offers an ESOP. Over the last few years, you have likely seen your stock benefit from AI and appreciate significantly. When you leave your job or retire, the default move is to rollover your 401(k) to an IRA. But if your plan holds company stock with a low cost basis, which is often the case with a lot of these tech companies, the default move to rollover to an IRA could cost you A LOT in unnecessary taxes. Here's why: everything inside an IRA gets taxed as ordinary rates when you withdraw it, which means you could pay 30%+ in taxes on your gains. Net Unrealized Appreciation (NUA) gives you a different option. Instead of rolling the stock into an IRA, you take it out in-kind. You pay ordinary income tax on the original (low) cost basis. Then, all the built up gains will be taxed as long-term capital gains - which can be as low as 15% or 20%, instead of 30%+. Think about that - you could potentially pay HALF the amount of taxes by leveraging this type of planning opportunity. Think about what this means if you work for and have been holding $NVDA $META $MSFT for years. Or even if you work for newer companies that have IPO'd in the last couple years like $CRWV $CBRS $CRCL. The window to use this strategy is narrow though. And once you rollover into an IRA, the opportunity is lost forever. If you are in this position, or know someone in tech that might be in this position, it's worth it to have the conversation before you make any moves. The opportunity doesn't come back.

WARREN CALLS TO BLOCK SPACEX IPO Sen. Elizabeth Warren urged the SEC to halt SpaceX’s IPO, citing governance risks, Elon Musk’s control, and potential foreign—especially Chinese—investment concerns. She also highlighted SpaceX’s role as a U.S. defense contractor. Despite the letter, the IPO process is expected to continue, with pricing and trading set this week. The SEC has already reviewed filings, and investors are viewed as aware of the company’s risks.

This is how every stock in the S&P 500 performed on Friday

Realising Apple went public at under $2 billion and 15 times revenue in 1980. SpaceX wants you to buy at $2 trillion and 100 times revenue in 2026. That is not getting in early. That is being the exit for venture capitalists who have held this equity for years at a fraction of what you are being asked to pay. Almost none of the retail investors buying this IPO will read the 300 pages before the book closes on June 11. That is your entire competitive advantage right there.

There’s our little investor why dont you come down here and tell us about your dividends?

BREAKING: Over 1,000 SpaceX employees are unionizing to negotiate better terms with wealth management firms The group has considered over 20 financial advisors and private banks and are "leveraging collective power to get significantly lower fees" of 0.5% on all AUM, rather than the traditional 1% fee The group is sitting on an estimated $20 billion in combined wealth