Brett Wysopal, CFP®, EA, ECA

@markcecchini @collin_ruth89 @AcquiredFM Bingo! Plus if you're working with a real financial advisor, these charts are even more ridiculous because no real financial advisor is hanging their hats solely on asset management. So much more of the value is built around all the other services I.e. taxes.

@collin_ruth89 @AcquiredFM There are typically break points depending on the size of the managed assets

1% of assets sounds small. But if you're compounding at 7% per year, a 1% fee actually costs you 14.3% of your returns each year. Here's a chart illustrating the idea we talked about on our Vanguard episode.

@TR401 @Alyse__Clark People have had spreadsheets forever…

@Alyse__Clark I can appreciate that. The behavioral side of our business is never going away. What I’m stressing here is that the tools we use to do our jobs currently, clients will have in their pockets.

Wild to me that some advisers are choosing to ignore what’s happening here.

@MeasureTwiceMNY 🤝

@Soaps27 Bookmarking this perfect comment!!

Random thought: I have a feeling that financial planning clients aren’t going to be as impressed with us using AI as we are.

@Unfettered1776 @MarketPalmer_ @BarbellFi Bingo

@MarketPalmer_ @BarbellFi You haven’t heard it much because it is illegal. You have to charge a minimum percentage to be compliant with the tax code.

When my son is ready to buy a house We’ll loan him the full purchase price He’ll make monthly payments to us 30 year mortgage at 0% interest Thanks to the bank of Mom & Dad 💰

@bryanhasling @TheExitGuy411 Not to mention term premiums are not nearly the cost of Whole Life.

@TheExitGuy411 But what’s your point? Are you saying term is a waste of money?

@jakecrandall Agree, it’s why having designations like a CPA or EA matter. But also understand that experience in a niche matters just as much but sometimes more.

Be very careful about who you get tax advice from. They should be a CPA. They should sign tax returns. They should serve other clients who look exactly like you. Avoid influencers, generalists, and financial advisors who don't sign tax returns.

@HOTPLATE1031 @matt_gottshall I personally work with folks at these AI companies. They are literally building these products yet they are not relying on it for solving their financial picture 🤔

@matt_gottshall A lot of the higher fees are in the RIA+CPA space or the tax planning financial advisors. I would think given what the market thinks about Schwab, Intuit and HRB. Its could be a hard reality for this space and hard to prove a value add when that value is now free.

R.I.P Financial Advisors You don’t need to pay a comprehensive advisor anymore You can now do financial planning, tax planning, estate planning, equity comp planning, using Claude (it will hold your hand) Here are the 10 prompts I use instead of hiring a silly advisor:

@Samir_0425 @Leo_Traydes Not sure what his comment is about Roth better than Taxable as it dosent help anything with your comment. If you have earned income, are not phased out, you can contribute to Roth. So if you work part time summer and winter jobs you should look into it.

@Leo_Traydes Bro I wanna open up my Roth IRA on $HOOD but I’m not sure if I should yet since I don’t have a job. I only work over th summer and winter but during school I have like no income besides some loans that give me left over money.

To all my younger people on FinX who are neglecting their Roth IRA because “I don’t want to wait until I’m 59.5 to see this money” Listen here. Take a look around FinX and posts regarding Roth IRAs Every single comment section is full of older people wishing they started contributing sooner I wish I did and I’m only 22 – That’s 4 years of TAX FREE gains completely erased, I’ll never get em back Many of them I would bet had the same thought process of not wanting to wait too Start your Roth IRA and focus on just that. Until it’s maxed out every year. Your future self with thank you immensely It’s a hard concept to grasp as a young investor, I was there literally 2 months ago Once you realize how big your portfolio can/will be in the future why in the world would you not try to protect YOUR money from the IRS!? It just doesn’t make sense to me why you wouldn’t 🤷‍♂️

@AdviserCounsel This is great. I saw the earlier post on why nobody is doing this with their RE. 😂🤣

We might sell our car soon Going to do seller financing Charge a buyer 5.5% interest Which is less than an auto financer But more yield than we can get on cash And if the buyer ever fails to pay We take the car & keep the payments Why aren’t more people doing this?

@yossi_bogo @greiser They don’t lol. When I first started in the finance industry 10 years ago I would literally call 45 year old adults to let them know they need to move their UTMA into their name lol

@greiser Dumb question: if the beneficiary of the UTMA is not actively informed of the existance of the UTMA by the individual who created it, how does the beneficiary know it exists?

Three parents called me with the same panic last quarter: "We set up a UTMA account when our son was born. Just found out he gets $75K at 21—complete access, no restrictions." An expensive mistakes could be incoming.

@jessejbtc @TKopelman I'm with Thomas on his feelings. Finding the right tenants is ideal, except there is no guarantee you find this people, and even if you do when they move on you need to do it again.

@TKopelman Thanks! Sounds like spending sufficient time finding the right tenants would be wise.

"Passive income" "Owning rental properties" These are 2 topics most people love to talk about Here's my thought on them You should either own a bunch of rental properties or don’t own any at all I don’t know many people who are happy owning 1 single property Why? You are running a business when you own rentals To be good at it, there is much to learn, a lot of work to be done, such little cash flow up front, and is very high risk if one thing goes wrong If you are going to go through all that, it should be replicated Or it's not worth your time This is why many should not turn their primary home into a rental when moving (and this not even talking about the $500k capital gains exclusion you could be passing up)

@markcecchini Eat whole foods. If you can eat clean you’ll have nothing to worry about.

I’m turning my attention back to health and fitness which was a huge part of my life for years The change has to be sustainable, but realistically I have 3 months to make progress in this area before baby #2 arrives what are the best things you’ve ever done for nutrition and exercise? 👇🏼

As a Bears fan I don't know if I've been this excited for a game since 08’ 🐻⬇️

@NxtGenPlanning Eh I'll let you slidenfor the Holidays

@NxtGenPlanning Broooo, soda? You're better than that 😂

Turns out the secret to a successful EOY was just a double shot poured over a Diet Coke + a morning run and afternoon weights

@T_Gatzemeier Chefs kiss to this post. I saw that guys insane take earlier today and signed off X as this platform gives me the chills in a bad way 😂

You don't need to pay a fitness coach to get in shape. Don't make that mistake. Don't eat fast food. Sweat and move every day. That's literally all there is to getting into shape.

@cfpinatl @T_Gatzemeier @Holistiplan The paycheck visualizer is pretty nice. As for OCR I spoke with their founder at a conference and he said they have no intent to implement OCR. I asked for a payroll API which they found interesting.

@T_Gatzemeier @Holistiplan Thanks

Well done @Holistiplan...looking forward to testing out the income annualizer. This will save me from manually updating spreadsheets to annualize client income. If your advisor isn't grabbing a paystub from you each year, I have no idea how they are doing real financial and tax planning. Fall planning is a great time to analyze your income and check... >> What to expect for taxes >> If you're on track for withholding and estimated payments >> How much you are expected to save for retirement >> Your overall savings rate versus target >> What year-end opportunities you have before Dec. 31

@TheTaxNomad Assuming spouse isn't working in this scenario?

Just finished a tax-planning session with a Google employee holding RSUs. Great example of why context matters in planning. When 15% turns into a 40% tax rate. Baseline: $15k federal refund, $4k CA tax due → $11k net cash inflow. Client wanted to model: 1️⃣ A $25k Roth conversion (spouse’s IRA) 2️⃣ Selling RSUs with ~$67k long-term gains Results: Roth conversion alone: net cash moves from +$11k → –$6k (still worth it to enable backdoor Roth in 2026). Realizing $67k LTCG (still within the 15% bracket!): net tax goes from –$6k → –$25k. Why so dramatic? Because once taxable income crosses $500k–$600k, you hit: The SALT cap phaseout cliff ($40k deduction → $10k) Child tax credit phaseout 15% LTCG + 3.8% NIIT + ~8–9% CA tax on RSUs Plus the lost deductions → effective marginal rate ≈ 40% Lesson: 🤓 RSU planning isn’t about brackets, it’s about interactions. Every move triggers ripple effects across the return.

@SquidsBurner @fmeverbladesfan @frank_seravalli As an ex player in the coast this is for sure not true. Housing cost is covered but that's it.

@fmeverbladesfan @frank_seravalli That’s just simply not true. I can 100% guarantee you the Everblades are not getting that.

Important message. ECHL teams have a salary cap under $15,000 per week for the entire roster - which means most players are earning well less than $100 per day before tax.