Ryan Haiss, CFP®

You’ve been investing for your child since they were born. Now they’re turning 21... And that UTMA account you spent years building? It’s legally theirs. They can invest it, spend it, or blow it. Here’s what every parent should know before opening one: ↓

@KerryHannon @YahooFinance It may be their first retirement, but it isn’t ours. Having someone who’s been through it before can be invaluable.

After saving on their own, retirees are turning to financial advisers 'to know if they are on track' #retirement @yahoofinance finance.yahoo.com/economy/articl…

@markcecchini Laughed out loud at "we're just in it for the love of the game"

If you are about to go through a major IPO or tender offer: >> be very careful when you are offered "free consultations" from the advisors at the financial company where the equity is administered << 1) They don't know you. Odds are they won't go deep enough on the analysis needed to properly advise you in the context of YOUR overall finances. These are incredibly complex topics that spill over into almost every area of your life (tax, estate planning, charitable, investments, cash flow, etc) 2) They are being opportunistic. They are incentivized to have you liquidate the majority of your stock so that they can manage the proceeds for a fee. When Stripe had their big tender in 2023, MS advisors were blanketly telling people to "sell it all" (per internal Stripe Slack channel chatter) Stripe stock has increased by 200% since then. Seek objective, competent advice from someone who will get to know your situation intimately and has the tools to show you all the scenarios and tax implications before making recommendations. 3) They often give out false and/or misleading information. -"We're the only ones that can do ____ strategy." -"We have special relationships/discounts because of our relationship with your company." -"This is all free to you! We're just in it for the love of the game." -"Your staggered lockup % applies to ALL equity including options and unvested shares, not just vested equity" (^^this is the latest nonsense trickling through SPCX group chats that someone got direct from an advisor...like what are we doing here?). One again, be careful out there.

@bidwells_ear Agreed

@RyanHaiss Got a UTMA for all 3 of my kids. It’s my job to educate them on financial responsibility until that account is legally theirs.

You’ve been investing for your child since they were born. Now they’re turning 21... And that UTMA account you spent years building? It’s legally theirs. They can invest it, spend it, or blow it. Here’s what every parent should know before opening one: ↓

@MrNQDC Yes sir!

@RyanHaiss Must-read for anybody planning their kid’s nest egg

@MiniRetireMatt Pros and cons to each of these accounts and it is our job to educate!

@RyanHaiss I don't believe I heard of UTMA account. Another reason for people with kids to consult with a financial professional.

@clbradfish Agree. Flexibility can help any situation.

@RyanHaiss Such a trade off... Retain control with a 529 but limited options beyond college Give up control but can be used for anything For most the answer is probably the use of both

@cliffcornell_ Looking forward to this one!

I’m super excited for tomorrow’s newsletter. One of the brightest strategists on The Street joins me for a special edition Q&A style mid-year market review. She’s been quoted in NYT, CNBC, Barron’s, Bloomberg and MarketWatch. YOU DO NOT WANT TO MISS THIS ONE!

@RomanPuglise Concentration risk is real!

Everyone and their mothers are becoming overnight millionaires with all these IPOs. Suddenly you have a nice chunk of wealth but you also have a massive concentrated position that is one market swing away from evaportating. Here are some strategies for dealing w concentrated stock👇

@FranWalsh73 A lot of people still don’t know about this catch-up contribution change. Definitely something to check with HR before year-end!

It's 2026. Contribution limits changed. Catch-up rules changed for high earners 50+. If your 401(k) strategy hasn't been updated since last year, you're probably leaving money on the table. Here's the full playbook: ↓

@clbradfish Nice list Cooper!

Make over $200,000? You're gonna want to read this The more you earn, the worse your disability coverage gets Here are the 5 gaps and how to fix them: 🧵

@JJsFinclub Those subscription services add up

Stop auditing the $5 coffee. Start auditing the $500 decisions. Run a Spending Autopsy monthly: where money actually went vs where you thought. The gap is where your wealth is leaking. You earn well. You’re not broke. So why does it feel like you’re not getting ahead?

@MarketPalmer_ Access to information is at all-time highs

Harsh opinion: "Lack of education" is no longer an excuse for poor financial habits. It's never been easier to learn. Between the internet, personal finance influencers, YouTube, course, AI – all the education you need is available at your fingertips. It all comes down to desire.

@MiniRetireMatt This is what it is all about!

Day 8: Heraklion While eating dinner last night at a restaurant in Crete, I met a teacher from the US who spends her summers in Europe indulging in different culinary experiences. She makes way less money than all the attorneys I know. But she looked happier than all of them.

@MrNQDC The tax strategy is important. But reducing concentration risk is what usually helps people sleep at night!

$17.5M in SpaceX Almost all gains The risk kept him awake “I already made life-changing money” “I’m terrified of giving it back” Sell → seven-figure tax hit Hold → single-stock roulette The unlock was an exit without triggering tax ↓↓↓

@CoachRolfes Well said

I love money. I love the experiences it makes possible. I love the convenience it provides. I love the home it's helped us build. BUT... One thing always remains. Money will never fill what's empty inside. If you aren't content without it, more money probably won't change that. Learn to be content with what you have. Keep building a better tomorrow. And enjoy the ride.

Did anything here surprise you? If you have kids, I'd love to know: Would you be comfortable handing them full control of an investment account at 18 or 21? 👇Let's discuss Disclaimer: Educational purposes only. This isn't financial, legal, or tax advice. UTMA rules vary by state and circumstances. Consider consulting a qualified professional before making financial decisions.

The right account isn't the one with the biggest tax benefit. It's the one that best matches your family's goals, values, and long-term plan. That's the conversation worth having.