Matt Garasic, CFP®
@Matthew_Garasic
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I help busy executives grow their wealth through freedom, security, and impact-focused financial advice | Founder of @UnrivaledWM | Tweets are not advice.
Build Your Wealth ➡
Joined January 2023
Whenever I tell someone I’m a financial advisor, they do one of two things: • Think I’ll give them a hot stock pick or market insight • Assume I'll try to sell them an insurance policy As someone who does neither of those things, I’ve realized how difficult it is to overcome
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Can I get an O-H!! Last national championship was my sophomore year at OSU. A little different celebration at 20 vs. 30 but I’m so stoked for Ryan Day.
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Those Buckeyes are absolutely embarrassing the Ducks 🅾️🙌🏻
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Update: All the way back 🅾️🙌🏻
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Ohio State in the first round of the playoff tonight…
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Don't let mistakes and missed opportunities hurt your money and lifestyle. Download my FREE 60+ page ebook with 30+ financial guides and checklists to help you avoid 11 of the costliest financial mistakes you don't know you're making. https://t.co/nRww8PFn4e
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If time isn’t a constraint and you enjoy managing your finances, then you should continue self-managing. But those with complexity rarely fall into this bucket. Figure out what an hour of your time is worth and see how it changes your frame of thinking.
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Because they realize their time is best spent elsewhere, or they aren’t giving their finances the attention required to maximize their situation. Because they don’t want to wonder if they’re overlooking anything or leaving money behind.
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Use the number as a filter for decision-making and outsourcing. For most executives and business owners, it easily exceeds $1,000/hour. That’s why they hire me, another financial advisor, or any other professional. Not because they can’t figure it out themselves…
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Ask yourself how much an hour of your life is worth. Start with your income divided by hours worked, then add the value of an hour: • With your friends and family or on hobbies you enjoy. • Being present with peace of mind that your money is taken care of. • Generating
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How much is an hour of your time worth? Not just your income divided by the hours you work. If that was your first thought, it’s time to start thinking bigger…
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Anybody else read stuff like this and wonder how you aren’t a billionaire by now?
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Don't let mistakes and missed opportunities hurt your money and lifestyle. Download my FREE 60+ page ebook with 30+ financial guides and checklists to help you avoid 11 of the costliest financial mistakes you don't know you're making. https://t.co/nRww8PFn4e
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My favorite part of social media? Influencing the future of the financial services industry. I regularly have younger advisors reach out and ask me for advice on navigating their career, starting their own business, or breaking into the industry. I hop on Zoom calls and share
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Thanks for reading! If you enjoyed this: 1. Follow me - @Matthew_Garasic to read more on financial planning and my entrepreneurial journey. 2. Please share this thread so it can reach other people who would benefit.
Every high-earner wants to grow tax-free wealth. That’s why every client I’ve introduced to the backdoor Roth regrets not using it sooner. If you want to add money to your tax-free investments without paying extra tax, start here…
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TL; DR: The backdoor Roth allows high earners to grow tax-free wealth without paying additional tax. This thread tells you: • Who should use it • How to execute it • Rules you CAN’T overlook • How to re-open the backdoor if it’s been shut.
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Disclaimer: This is for general educational and illustration purposes only. This should not be taken as individual investment, tax, or legal advice. Consult your legal, tax, and financial team before implementing any financial strategies for your specific circumstances.
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Every plan has specific rules, so read the plan documents and/or confirm with the plan admin. Also, some plans have limited and/or high expense investment options. Evaluate fees, investment selection, and other factors before making a rollover decision.
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401(k)s and other employer plans aren’t included in the aggregation rule. Most plans allow incoming rollovers of pre-tax balances from IRAs and previous employer plans. So, if you can roll over pre-tax IRA money to your employer plan, you can re-open the backdoor.
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The pro-rata and aggregation rules are a major buzzkill. But if you made it here, you get the reward of learning the potential workaround...
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