Jake McKinney, CPA

[Jake McKinney, CPA @Jakemck22]

@MWPutters Still haven’t received mine… Ordered mid July.

[Jake McKinney, CPA @Jakemck22]

@markcecchini Equity

[Jake McKinney, CPA @Jakemck22]

@Mike_kim714 #106

[Jake McKinney, CPA @Jakemck22]

@TKopelman Can’t you do the backdoor through April 15?

Making a 2024 contribution and then converting?

[Morgan Housel @morganhousel]

The same people:

2010: "Don't buy stocks, they won't go up."

2024: "Don't buy stocks, they've gone up too much."

[Jake McKinney, CPA @Jakemck22]

@ServoWealth @BrianSloan3

[Jake McKinney, CPA @Jakemck22]

@MikeSyl36625988 @TobaccoVeggie @Jmcgowan3838 From my experience, most smaller firms will pay more starting off. Big 4 can pay less because of the “prestige” and experience you get.

[Jake McKinney, CPA @Jakemck22]

@MikeSyl36625988 @TobaccoVeggie @Jmcgowan3838 I started at big 4 a little over two years ago at $54k. They were doing adjustments then so it might be closer to $60k now.

[Jordan Taylor @ArchAdvicer]

What is an advisor really worth?

@ramit has a (somewhat) controversial opinion about AUM fees. Sometimes I agree. Sometimes I don't.

I created a spreadsheet to calculate & compare the cost & impact of different advisor fees & potential DIY mistakes.

Here's what I found: 🧵

[Jake McKinney, CPA @Jakemck22]

@HML_Compounder To be fair, I was a crew chief in the Air Force for 6 years and even I needed to take a second to think this through. Most people will not understand that the plane can still move forward regardless of tire speed. Also, my physics 101 didn’t teach anything like this haha

[Mark McGrath @MarkMcGrathCFP]

If my company is worth $100 and I pay you a $1 dividend, my company is now worth $99.

You have 1 share worth $99, and $1 in cash that you must now pay tax on.

Dividends aren't magical free money.

[Jake McKinney, CPA @Jakemck22]

@HonestInvesting @hhhypergrowth Few

[Jake McKinney, CPA @Jakemck22]

@AndrewHolder22 Congratulations!!

[Jake McKinney, CPA @Jakemck22]

@MattRumancik 85 degrees and breezy everyday, tons of activities to do and also very relaxing. Spent two months here and would love to go back.

[Jake McKinney, CPA @Jakemck22]

@upshotwealth @BestInterest_JC Oh well for sure lump sum would be better if we are talking decades! I was talking a few months!

[Jake McKinney, CPA @Jakemck22]

@upshotwealth @BestInterest_JC I get ya! But I feel like lump summing 250k in the market is kinda timing the market. What if you would’ve lump summed 250k in February of 2020 vs DCA over 3 month period? DCA would be ahead by a mile. Obviously Feb-April 2020 doesn’t happen often but still!

[Jake McKinney, CPA @Jakemck22]

@upshotwealth @BestInterest_JC Interesting… I will read that when I get a chance but I’m going to do a bit of research and try to counter that statement.😉

[Jake McKinney, CPA @Jakemck22]

@FiduciaInvest How far out are you on these calls? Assume you are buying into 2022?

[Jake McKinney, CPA @Jakemck22]

@MoneyJrod Had to put that one down about 30 pages in. Not for me!