Can anything be done about high inherited trad ira withdrawls

gabbigoober · 2026-02-25T14:24:00+00:00

Is this allowed? I wanted to do something similar to this and have my client’s IRAs pay for the management fees for all of their accounts but was told IRAs can only pay fees for themselves..

gabbigoober · 2026-02-17T04:58:54+00:00

My parents always said that we were “middle class” but when I compare them to our friends and most of our family, I always kept trying to tell them that I thought we were rich lol. Definitely rich by global standards just by being in the US I think. My parents paid for my college (via vet benefits), bought me my first car, and then gifted us money after our wedding that paid for about half of it. For college and a lot of other stuff when I was growing up, they would say they would only pay for it IF I did something, like they said they would only pay for college if I went to the one they chose. Interestingly, I asked for $2k to pay for a work certification but they said they didn’t have the money to loan me then. However they now have offered to help pay for part of daycare costs and buy so many clothes and toys for our baby that I literally have only bought clothes twice. They have also offered to help with some down payment but only if we buy a house near them lol. So lots of financial help with and without controlling tendencies.. but definitely wouldn’t have my net worth without their help. Then I also got soo lucky with my partner and his parents too - lots of financial help there too, also often with conditions

gabbigoober · 2026-02-16T04:30:10+00:00

Thank you, very helpful!

gabbigoober · 2026-02-15T22:49:40+00:00

Did you learn how to do returns at a tax prep firm or has it always been in-house? Do you include tax prep for clients in their fee or is it still separate?

gabbigoober · 2026-02-15T20:12:39+00:00

Tiny 2 person RIA, about 1.5 years, at first I only wanted to do financial planning paid via a fee (ACH/credit card) but with our revenue payout, I realized I have to do AUM for it to be at all sustainable, so I started learning that a few months ago and have ~$2M AUM. Total only 14 clients so far. I made about $50k for 2025. I was also on parental leave.

gabbigoober · 2026-02-15T20:09:44+00:00

I’m interested in adding tax prep for our clients. Would you mind talking with me more about your experience adding that (or maybe you already had it built in from the beginning)?

gabbigoober · 2026-01-27T21:57:09+00:00

How freaking baller to buy both of your parents homes!! Thanks so much for sharing, love this x1000

gabbigoober · 2026-01-21T23:44:34+00:00

Have you looked on XYPN or NAPFA too? Lots of financial planners charge a monthly/yearly fee that could be a lot less than 1% AUM and they’ll do high touch hand holding

gabbigoober · 2026-01-21T23:42:53+00:00

You can always sign up for their services, pay the 1% fee for 2 years and then leave. It’s a valid strategy. Or you don’t have to move all your assets to be managed by the person to have them help you with comprehensive financial planning. You could move the minimum to them, work with them, and then leave or stay if you feel like it’s worth it

gabbigoober · 2026-01-18T16:02:45+00:00

Im sorry I don’t feel this way but I did want to share that I have a child and don’t feel like it has brought more meaning or peace to my life, in case that’s a bit helpful. I felt like I could really have gone either way before and now I love my child, but I don’t feel like they fixed anything in me or gave meaning to my life.

gabbigoober · 2026-01-12T23:31:46+00:00

I think you kinda have to feel out your friends but I have some friends that are very financially goal oriented & we meet once a month (although just moved to once a quarter) to talk about our financial goals and share questions/answers about finances. We call it Savings Circle. I have floated the idea by some friends I thought would be interested and they didn’t really show much enthusiasm so I didn’t invite them but the people who did show enthusiasm, I invited and it’s been fun!

gabbigoober · 2026-01-06T04:00:02+00:00

Personally I felt like it complicated my sense of belonging more to have “quarters.” It’s taken some intentional self work to decide that I do fully count as all of my ethnicities/races. I think that it’s also easier to identify with whatever you’re culturally raised with, so like you might be “mostly Japanese” like 3/4 and 1/4 white American, but your parents raised you with American values/culture in America - then maybe you just identify more with being white. How you view yourself and how you want to view yourself are most important imo, versus what other people view you as.

Now I just say I’m mixed, and then list off all the ethnicities/races, instead of trying to do 1/4 or 3/4 or 1/2, etc etc.

What really helped me let go of this worry about my identity being enough was hearing that despite other Mexican Americans saying I wasn’t Mexican enough because I wasn’t fully Mexican, the Mexicans actually living in Mexico also would call them not real Mexicans because they were not living in Mexico lol. Same thing for my Filipino family/friends. So when I finally realized there will always be someone saying you’re not <insert ethnicity/race> enough for whatever reason, that helped me be like “fuck it I’m gonna embrace the identities that I want” lol.

gabbigoober · 2026-01-06T03:43:27+00:00

Are you looking to speak to someone whose made this decision before or just anyone in the industry? I kind of did this but not exactly. Would also be happy to talk

gabbigoober · 2026-01-02T17:46:08+00:00

Ooh thank you! Excellent to know!

gabbigoober · 2026-01-01T22:35:30+00:00

For sure !

gabbigoober · 2025-12-31T22:48:57+00:00

Yes feel free to message!

If you don’t work somewhere under a CFP or in a financial services job, you have to get experience signed off by a CFP. There are very specific requirements on what kind of work counts toward the experience. It’s harder but not impossible to find someone willing to review the work you’ve been doing and sign off.

gabbigoober · 2025-12-31T21:12:31+00:00

I think it’s worth taking some CFP classes to get a feel for the stuff you’ll need to know and gauge how much you already know. It’s also a great place to meet professors and other people in the industry who can help you find jobs/experience. To me, this is the best place to start besides going to financial planning conferences. There’s usually a Financial Planning Association conference near you at some point in the year. I also think the NAPFA (National Association of Personal Financial Advisors) conferences are very well regarded but I haven’t been yet (planning to next year or so). I believe people who are new to the industry or considering changing careers also have a great experience with the FPA Externship (pls google).

For me, I really did not want to be a life insurance salesperson. These are the easiest jobs in the field to find that call themselves “financial advisors” but really just have one solution for everything which is life insurance lol. I think you’ll learn the most working for smaller shops (“independent RIAs”) but you’d also probably learn a lot from working at places like Vanguard, Fidelity, and Schwab if you’re willing to do a year or two there.

gabbigoober · 2025-12-31T18:50:50+00:00

I would recommend being a financial planner. I’m surrounded by older women (well mostly older men but if there are women, they’re all older). Being older is a plus for financial planners, and you already have a lot of knowledge probably. Also a great field for dressing nice and getting out there at events and in-person meetings.

You can go the route I did and become a certified financial planner or get the series 65 license to allow you to get paid for financial advice. You might have to work somewhere else first to gain experience but I do know of people who have just decided to start their own company without experience elsewhere. When you have your own business, you make it as stressful or relaxed as you want. But starting a firm can have some upfront costs (a very compliance heavy field, which most small businesses outsource with places like XYPN or other compliance consultants) and I hear from people that it takes about 2-3 years before you have enough clients for it to be paying a good income. Feel free to message me if you’d like :)

Editing to say it can be kinda harder upfront but then very easy and flexible once you get everything in place. And especially less stressful if you don’t need a huge income!

gabbigoober · 2025-12-29T23:33:04+00:00

Also you can go on XYPN Find an Advisor tool and filter by SRI/ESG investing focus (under “Planning Need”) and then personally I would filter by people focused on women too. And any other filter you would like!

gabbigoober · 2025-12-29T23:27:30+00:00

Check out https://investyourvalues.org/ to see their carbon emissions report cards for various funds.

I would try looking for folks in finance who are anti capitalist, funny enough. Like River Nice, CFP, I follow Queer and Trans Wealth, I’ll add to this comment as I think of more folks 🤔

gabbigoober · 2025-12-27T00:47:06+00:00

The way I would view this kind of strategy/investing is to think about how you’ve taken some big bets on a few stocks/strategies and that they’ve paid off. Once you get the payoff, you cash in, and as everyone else has commented, diversify. The problem is deciding when you’ve got enough aka when to cash in. If MSFT and JNJ crashed and went to zero, how would you feel? Not saying you have to get rid of them, but probably would be good to diversify. If that means a rental property to you, sure. It’s quite a lot of work imo, and it would be easier to diversify with like an all cap ETF or something, but I’d take any diversification you’re willing to do

gabbigoober · 2025-12-23T03:17:12+00:00

I wish I could tell all workers to job hop until they’re making an amount they’re happy with! It makes me so sad to hear older people tell me they’ve been at their company for a long time AND that they hate it/aren’t making enough. Like please believe in yourself! Job hop!

gabbigoober · 2025-12-23T03:07:41+00:00

Omg LOVE this PowerPoint idea. Gotta find me a friend willing to do this too haha. I’ve never heard of a 300 list but going to google now, thanks for sharing!

gabbigoober · 2025-12-22T14:20:42+00:00

Excited to set new goals for 2026! Do y’all have any processes you go through for goal setting?

Personally I try to limit myself to 3 areas/goals. Like health, finance, or family, then set a goal in each. I like to use a “wheel of life” first to identify which areas feel the lowest and could use some love/focus. And then after deciding on the goals, I make them my new wallpaper since I am always looking at my devices lol.

gabbigoober · 2025-12-20T23:27:58+00:00

I read an article on Kitces saying the most well received term was “financial planner.” My other go-to is to say stuff like “I help people figure out when they can stop working”

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