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
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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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Every client I’ve introduced to the backdoor Roth regrets not knowing about it sooner.
It’s something every high-earner needs to know about.
If you want to start building tax-free wealth today, start here...
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@dougboneparth
I'm old enough to remember the glory days of the $5 footlong. And glorious they were.
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“Dude why would I risk being in the market when 14 month CDs are paying 4.75%???”
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I'm sorry but owning $100,000 of VOO doesn't qualify you to give financial advice.
And no, I will not compare last month's dividend payments with you.
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The "I don't need a financial advisor" starter pack:
• Makes six figures; no savings
• Married with kids; no estate plan or life insurance
• Retirement savings invested in Jim Cramer's stock picks
• Thousands paid in unnecessary taxes; says advisor fees are too expensive
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Everyone wants to pay less taxes.
But most people have no idea how taxes work.
If you want to understand and pay less taxes over your lifetime, start here 🧵
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Restricted Stock Units (RSUs) can make you a millionaire in a few years.
Or they can leave you with a surprise tax bill and wipe out your net worth.
Here's everything you need to know to turn them into cash in your pocket...
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Important reminder that over 10 years, an 8% average annualized return looks a lot like this:
6.13%
-15.46%
20.40%
-10.80%
33.43%
-0.61%
5.51%
15.42%
27.90%
-2.75%
Not like this:
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
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Equity compensation has turned ordinary employees into millionaires.
But most people have no idea how it works.
Keep reading for the beginner's guide to equity compensation:
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My client had $30M in company stock.
It made up 90% of his net worth, and he didn't know what to do.
Here's how I helped him put millions in his pocket while minimizing taxes 🧵
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I don't need to manage my client's investments to get them a double-digit return.
I just show them how their Employee Stock Purchase Plan (ESPP) works.
This is the guide to printing money with your ESPP 🧵
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What skill is most likely to determine success?
I'll go first: Delaying Gratification.
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It's easy to legally pay less taxes.
But first, you need to understand how taxes work.
These 6 simple steps will show you how to understand and pay less taxes 🧵
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Important reminder that over 10 years, an 8% average annualized return looks a lot like this:
6.13%
-15.46%
20.40%
-10.80%
33.43%
-0.61%
5.51%
15.42%
27.90%
-2.75%
Not like this:
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
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Charlie Munger once said that the first rule of compounding is to never interrupt it unnecessarily.
It sounds easy. But most people fail at it.
If you want your wealth to compound, follow this 6-step blueprint.
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It's my eighth year in the financial industry and my second year running my advisory firm.
I manage my finances the same way I've helped hundreds of high-net-worth clients manage theirs.
This is my personal finance blueprint 🧵
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A client has never hugged me for outperforming a benchmark by .50%.
They have hugged me when:
• They fully funded their kid's college
• We turned $10M of equity comp into cash
• I told them they could afford to take a year off work
People care about life, not
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I've been on LinkedIn for 8 years.
All I've received are sales messages.
Not one person was genuinely trying to connect.
I’ve been on Twitter for 2 months.
Not one sales solicitation.
10+ genuine friendships and business contacts made.
Something to be said there
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The top 1% in the US have a net worth of $10,815,000.
I've spent my career advising them.
Read this if you want to join the club 🧵
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529 Savings Plans are more flexible than ever.
But most people miss the biggest opportunities.
Here's how you can avoid penalties and taxes on an overfunded 529...
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Three reasons I don’t compete on price:
1. I provide a premium service. I won't do it at a discount
2. I refuse to take time away from providing my best service to the clients who value it
3. A relationship chosen by price will fall apart as soon as someone makes a lower offer
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Some of the best tax savings come from tax loopholes.
One of the best tax loopholes is the Mega Backdoor Roth.
Learn how to take advantage of it for tax-free wealth 🧵
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Everyone needs a financial plan.
I've delivered hundreds of them over the last 8 years.
Here’s the roadmap to more money and a better life…
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I'm young, healthy, in great shape, and have money in the bank.
I can't ask for much more.
But I know it can all disappear in the blink of an eye.
Here's the insurance strategy I use to protect my family and wealth.
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"How can I pay less taxes?"
It's the number one question business owners and executives ask before a liquidity event.
This is one way we can avoid millions in capital gains...
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The financial services industry is broken.
You’re tired of getting sales pitches from people you don’t trust.
And you’re sick of people using financial slang to try and trick you.
That’s why I made the simplest guide you’ll ever read for choosing a financial advisor.
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Dividend stocks won't make you wealthy.
Are they a form of passive income? Yes.
But if you're investing for the long term, you need to focus on growth.
Growth companies reinvest profits instead of distributing them.
You want to participate in the growth of these companies.
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@Invested_In_You
Ohh I love this little case study. So many things to consider.
I would invest it because it's more aligned with my feelings toward debt. Also, I prefer the flexibility of having the lump sum in a taxable account compared to the $1800/month savings.
The beauty is that the right
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Less than a year ago, I left my job as Head of Financial Planning at a $3B+ RIA to start
@UnrivaledWM
Sharing what I know for free has taken me from 0 to 4k followers in less than 7 months.
These are my 20 best threads on personal finance...
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Real financial advice can be the difference between retiring at 55 or 65.
I've witnessed it with new clients, but I won't let it happen to you.
Here's how I helped my clients recover their retirement dreams after years of poor financial advice 🧵
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One of my favorite quotes from Morgan Housel's book, Same as Ever:
If you understand the math behind compounding, you realize the most important question is not "How can I earn the highest returns?" It's "What are the best returns I can sustain for the longest period of time?"
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Vanguard manages $7.7 trillion.
I read all 12,000 words of their investment research so you don't need to.
Here are the 7 Investing Concepts You Need to Know:
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Index investing is one of the simplest paths to becoming a millionaire.
But you could add up to 3% to your returns with these strategies.
Here are 7 things you need to know about investing 🧵
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Vanguard manages 7.7 trillion dollars.
I read all 12,000 words of their investment research so you don't need to.
Here are the 7 Investing Concepts You Need to Know:
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If my friend is:
• A doctor... They're my doctor
• A barber... They're my barber
• A carpenter... They're my carpenter
• An accountant... They're my accountant
And most of all, I'm not asking for a discount. I'm paying them more.
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August 17th, 2023.
A Red Rocks sunrise we’ll never forget.
The day the girl of my dreams said yes!
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Start-up equity can be your ticket to becoming a millionaire.
But taxes will take thousands out of your pocket.
If you want to pay less taxes on your hard-earned equity, you need to know this strategy...
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Your company gave you a great equity package.
Your net worth went up but your life doesn't feel any different and the taxes are stressing you out.
If you want to turn your equity into cash, you came to the right place. Welcome to Equity Comp 101.
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One way I want to be different on social is by sharing my losses, not just my wins.
So, here's my biggest setback since starting my business.
In January, I started working with a client whose net worth was around $200M.
Their situation was one of the most complex I've seen in
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Most people don't need a financial advisor.
But everyone needs a financial plan.
Follow these 5 simple steps to create your own financial plan 🧵
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Most people have no idea what they spend.
With my cash flow plan, you don't need to.
Stop filling out budget spreadsheets and steal the strategy I use with clients 🧵
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Nine months ago, I left:
• Miami
• A six-figure salary
• My title as Head of Financial Planning
• Regularly working with ultra-successful business owners and executives
For:
• $0 income
• Starting
@UnrivaledWM
from scratch
Why?
Time, freedom, and a bet on myself.
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When your net worth reaches 8 to 9 figures, you can easily pay millions in estate taxes.
This was one of my client’s biggest concerns.
Here’s how we structured the irrevocable trusts we used to transfer $13.6M out of his estate 🧵
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I offer a free analysis and one-page plan for prospective clients.
When I shared this, people went nuts, questioning why I give so much free information to people who aren't clients yet.
Here's why
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A surgeon I know went to get Lasik. Then, the 1 in 1,000,000 happened.
Something went wrong.
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In less than a year, I built a profitable business that allows me to work where I want, when I want, with who I want.
I didn't:
• Disappear
• Cut off all my relationships
• Wake up at 5 AM for cold showers every day
Here's what early entrepreneurship actually looks like...
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I'm young, healthy, in great shape, and have money in the bank.
I can't ask for much more.
But I know it can all disappear in the blink of an eye.
Here's the insurance strategy I use to protect my family and wealth.
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David Swensen grew Yale's endowment from $1B in 1985 to $31B in 2020.
His book, Unconventional Success, details his investment principles.
I read all 365 pages, so you don't have to.
Here are the 9 investing principles you need to know 🧵
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I'm working with a client now to gift QSBS-eligible stock to two irrevocable trusts.
The gifts will use all $13.61M of their lifetime exemption. The trusts will also be eligible for separate $10M gain exclusions (an extra ~$4.8M in capital gains tax savings at 23.8%)
Any
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A lot of people ask how I went from 0 to more than 4,000 followers in 7 months while building a business from scratch.
If you're curious, this is the exact blueprint I've used...
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I have tattoos, I don't wear button-ups on client Zoom meetings, and sometimes my dog snores in the middle of a call.
But it works because clients hire me for who I am and what I can offer them, not because I fit some made-up image of what an advisor should be.
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Company stock options are a cheat code for building wealth.
I’ve helped clients exercise millions in options, but exercising is only the start.
Here’s one of my favorite strategies for Incentive Stock Options…
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In 2019, Peter Thiel’s Roth IRA was worth $5 billion.
Every investor wants to replicate his strategy, but they don’t understand the details.
Don’t try copying it until you read this 🧵
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Before I started
@UnrivaledWM
, I worked at an RIA that managed billions for ultra-high-net-worth clients.
The investment approach was simple.
Read this and bookmark it for free 👇🏻
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Most people use ETFs and mutual funds interchangeably.
But overlooking key details can cost you thousands of dollars.
Here’s what everyone should know before building their portfolio
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"The richest people on earth didn't make it there by index investing"
1) They didn't do it by stock picking either
2) If you want to be the richest person on earth, invent the next Amazon
3) For the ordinary person, long-term indexing is a proven wealth building strategy
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Have any of these questions ever kept you up at night?
• Will I have enough?
• Am I doing everything I can?
• Are my family and money safe?
• What if XYZ happens? Will we be okay?
Let me show you how to get answers and a better night's sleep 🧵
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You've heard me preach the importance of your financial advisor coordinating with other financial and law professionals.
Here's an example of what I'm talking about. We provide clients' CPAs with a year-end tax letter summarizing their situation to make everyone's life easier.
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I don't want to convince anyone they need a financial advisor.
Actually, it's the opposite.
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Imagine selling a business for over $10M.
Now imagine paying $0 in taxes when you do it.
Don’t miss out on this tax strategy that can save you millions 🧵
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In 3 weeks, I'll hit one year of posting on social media to grow my business. To be honest, I still feel like a beginner.
In that year, I've added more than $60k of annual recurring revenue from X, and I just raised my minimum fee.
You don't need to be an expert. Just start.
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We've all heard horror stories from people who hire an A+ salesman but a D- financial advisor.
That's what happens when you don't know what to look for.
Skip the pain of hiring the wrong advisor and get it right the first time with these 10 tips 🧵
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I'm a solo-advisor.
I have a small client list.
My business is completely virtual.
Some see those as weaknesses.
Here's how I've turned them into my biggest strengths 🧵
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@TheJacobTurner
As a lifelong Cleveland fan, it's always fascinated me how there can be such disparity in payrolls for signing free agents. This puts it under an even bigger microscope.
I'm sure Dolan is putting them up in the cheapest accommodations 🤣
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Most people think estate planning only matters when you die.
But two simple legal documents can help you avert disaster while you're living 🧵
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Believe it or not, I've never had a client credit their wealth to driving a '99 Honda Civic or abolishing $7 coffees.
They lived their life, focused on providing a valuable skill or product, and consistently invested.
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Missing a 401(k) match is bad.
Missing a 17.6% return is worse.
That's what's happening if you aren’t using your company’s ESPP.
Here’s your guide to making free money with company stock 🧵
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Wealthy investors use the tax code.
Average investors get used by the tax code.
I use this simple strategy to help my wealthy clients pay thousands less in taxes 🧵
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Yesterday
@thejustinwelsh
launched the pre-sale for his new Creator MBA course.
I bought it immediately. Why?
Because I know paying a few hundred dollars to learn from Justin will turn into thousands in revenue in a shorter amount of time.
Invest👏in👏Yourself👏
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Almost 90% of people take the standard deduction.
If you're one of them, you could be missing out on thousands in tax savings by overlooking this simple strategy.
Here's how you can pay less taxes with an itemized deduction strategy 🧵
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Imagine being such a miserable human you go out of your way to insert yourself into a conversation like this.
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Financial planner pet peeve:
When people write ROTH IRA instead of Roth IRA.
The account is named after previous Senator, William Roth.
It's a name, not an acronym. No need to scream it.
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There are almost 30 million forgotten 401(k) accounts
They add up to almost $2 trillion in forgotten assets
Here are the four things you need to know if you have an old 401(k) 🧵
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Money Twitter tells you to invest for income.
I disagree.
Here's what no one's telling you👇🏻
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If your financial advisor doesn't cover:
- Investments
- Tax Planning
- Estate Planning
- Equity Compensation
- Risk Management & Insurance
- Cash Flow & Lifestyle/Retirement Planning
- The 100s of nuances under these categories
It's probably time to look for a new advisor 🤷🏻♂️
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60% of Americans give to charity.
100% of them want to pay less taxes.
Keep reading if you want to do both 🧵
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You’re costing yourself thousands of dollars and years of freedom.
The worst part is you don’t even know it.
These are 7 of the most common financial mistakes I fix for new clients
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I wouldn't have my business if it weren't for my Roth IRA.
It might sound dramatic, but it changed my life.
Here's how I used my Roth IRA to buy my first home and start my business 🧵
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Thinking about hiring a financial advisor?
Use BrokerCheck to see if a financial firm or representative has ever been disciplined for misconduct.
Oh, and if you look someone up and they aren't on BrokerCheck... You probably shouldn't be taking investment advice from them 🤷🏻♂️
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I hate giving my email or wasting time on an intro call just to find out the price of a service. That's why I share pricing tiers on my website.
A lot of people will see the pricing and rule it out. That saves time for them, me, and the clients who find value in the service.
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To build a tax-efficient investment portfolio, you need to understand:
1. How accounts are treated for tax purposes.
2. When and how you’ll be taxed on investment income and appreciation.
3. What investments to hold in different account types for maximum efficiency.
Here are
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One of my top priorities is making my client's lives easier.
Unfortunately, the initial data-gathering process is anything but easy.
Here's the deliverable I use to remove the friction from data-gathering and start the client relationship off on the right foot.
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I'm going to save my client $7,500 in taxes.
No crazy strategy. Just basic financial planning and a tax projection.
Here's how...
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I’ll take this over the dimly lit cubicle everyday
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People will really make $25 in dividends, then get on here and make an anonymous account just to tell you you don’t need a financial advisor.
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At least once a month, I think about when I had a college internship at NWM and my "mentor" told me I should buy a life insurance policy on myself to "get some momentum."
Needless to say, I didn't last a month.
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Employee Stock Purchase Plans (ESPPs) give you shares with a built-in gain.
But most people let taxes distract them from what’s really important.
Here’s what you need to know to make the most of your ESPP
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I’ve worked with hundreds of clients in my career.
Almost everyone makes the same financial mistakes.
Read these 7 mistakes so you aren't one of them 🧵
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90% of people who start training jiu-jitsu never make it to blue belt.
Why?
Because it typically takes 1.5 to 3 years to get there, and you have to get your ass kicked by everyone in the gym while simultaneously feeling like you're drowning for the first 6 months.
I was lucky
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Financial planning has never been sexy.
But its value is undeniable.
Now, everyone uses "comprehensive financial planning" as a buzzy marketing term.
If you want to know the difference between the real and the fake, start here👇🏻
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My favorite part about this post is the people commenting, "Neither does a CFP."
I don't think I'm qualified because I have the CFP designation. I know I'm qualified because I've spent tens of thousands of hours analyzing and advising clients on their finances.
I'm sorry but owning $100,000 of VOO doesn't qualify you to give financial advice.
And no, I will not compare last month's dividend payments with you.
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Americans gave $500 billion to charity in 2022.
Almost 90% of them didn't receive a tax benefit.
This is the beginner's guide for reducing taxes with charitable giving 🧵
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UPDATE:
God is good, and kindness prevails.
As it turns out, a girl picked up my fiancée's ring on Saturday night, but she chose not to turn it into security and planned to keep it.
However, another girl saw my fiancée's Facebook post, and when she found out her friend had the
This is your reminder to add a rider to your homeowner’s/renter’s policy or get a completely separate insurance policy for valuable jewelry, art, and other collectibles.
I failed to do this on my fiancée’s engagement ring and now we’re suffering the consequences.
It’s going to
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Today marks another milestone and the business accomplishment I'm most proud of.
My fiancée is joining
@UnrivaledWM
full-time!
She already built my website, and now she'll help level up the content game with video/podcast editing, graphic design, and more.
We're polar
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I turn 29 today.
Maybe I'm getting sentimental with the big 3-0 on deck.
But I'm a normal person experiencing the same highs and lows as you.
So, from one normal person to another, here are 7 of the most important lessons I've learned for happiness and success 👇🏻
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I’ve been building real-life financial plans for over 7 years.
Not the buzzy type of "comprehensive financial planning" used for marketing.
I’m talking about helping people improve their lives by getting the most out of their money.
Here’s how to spot the difference👇🏻
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More than 45 million people have an IRA.
If you're one of them, don't make an IRA contribution without reading this...
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A 4-year public in-state college degree costs more than $150,000.
If you want to help your kids pay for college, you need a plan.
This series on college funding shows you how 🧵
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His company stock dropped >50% in 3 months.
There was nothing he could do as $30M of his net worth evaporated.
That's when he decided to get help.
Here's how I helped put millions in his pocket 🧵
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