Derek Carmichael, Financial Advisor - Stifel

06/05/2026

Myles Garrett's Trade Is a Reminder That Wealth Isn't About What You Make—It's About What You Keep
When news broke that NFL superstar Myles Garrett was traded from Cleveland to Los Angeles, most people focused on the football implications.

As a an advisor, I immediately thought about something else:

Taxes.

Garrett's paycheck may remain enormous, but where that paycheck is earned can have a significant impact on how much of it he actually keeps.

And that's a lesson that applies far beyond professional athletes.

The Wrong Question
Most people focus on one number:

"How much did he sign for?"

Investors do the same thing.

They ask:

What's the return?
What's the yield?
How much did the stock go up?
How much income does the portfolio generate?
Those are important questions.

But they're often not the most important question.

The better question is:

How much do you keep after taxes?

A Million-Dollar Difference
California has one of the highest state income tax rates in the country. Ohio's rates are considerably lower.

For someone earning millions of dollars per year, a change in location can mean a massive difference in after-tax income.

The same principle applies to investors.

Two people can earn the exact same investment return and end up with dramatically different outcomes depending on how their investments are structured and taxed.

One investor focuses solely on returns.

The other focuses on after-tax returns.

Over time, the second investor often wins.

The Silent Performance Killer
Many investors obsess over finding an investment that can outperform by 1% or 2%.

At the same time, they ignore taxes that may be costing them far more than that every year.

Taxes are often one of the largest expenses investors will ever pay, yet they receive far less attention than market performance.

That's why tax planning is not a once-a-year activity.

It's a year-round wealth-building strategy.

Good Financial Planning Isn't Just Investment Planning
When people think of financial advisors, they often think about stocks, bonds, and portfolio performance.

But some of the most valuable conversations happen outside the investment portfolio.

Questions like:

Should I do a Roth conversion?
Which account should I withdraw from first in retirement?
How should I structure charitable giving?
When should I take Social Security?
How can I reduce future Required Minimum Distributions?
How do I position assets to create the most tax-efficient income stream?
These decisions can potentially save tens or hundreds of thousands of dollars over a lifetime.

The Real Scoreboard
Myles Garrett's trade is a reminder that earning more money doesn't automatically mean building more wealth.

Whether you're an NFL player, a business owner, an executive, or a retiree, the goal isn't simply to maximize income.

The goal is to maximize what stays in your pocket.

Because at the end of the day, wealth isn't measured by what you earn.

It's measured by what you keep.

nypost.com

05/19/2026

Congratulations to the class of 2026!

Now that you are stepping into the ‘adult world', explore our Financial Literacy Video Series to help build confidence and take control of your financial future:
https://vimeo.com/showcase/stifel-financial-literacy

03/11/2026

📉📈 Zooming Out: What Markets Have Done During Crisis

Lately, a lot of conversations come back to the same question:
"With everything going on, should I be worried about the markets?"
It's a fair question — the last several years have brought:
😷 A global pandemic
🔥 Inflation over 9%
🌍 Multiple geopolitical conflicts
💸 The highest U.S. tariffs in decades
And yet…

🔭 When You Zoom Out, the Story Changes
Data from the S&P shows that markets have historically pushed through every major crisis and continued to reach new highs.

Even with everything that occurred from 2020 to 2025, the S&P 500 still rose more than 128% over that period when viewed as a whole.

That doesn't mean the ride was smooth — but it highlights how often long‑term investors are rewarded for staying disciplined.

💡 The Big Takeaway
Volatility is normal.
Headlines come and go.
But long‑term perspective matters more than short‑term noise.

This isn't a prediction of future returns — just a reminder that markets have a long history of resilience.

📬 Do you have a your plan in place?

01/13/2026

⚾ Loyalty vs. Leverage: A Wealth Lesson from José Ramírez

When José Ramírez signed a 7-year, $141M extension with the Cleveland Guardians, he chose loyalty over market value. He could've earned more elsewhere — but he stayed for the city, the culture, and the legacy.

"$150 million or $200 million, my life is gonna be the same. I'm happier with $150 million in Cleveland than $200 million somewhere else."
— José Ramírez

That kind of decision is honorable. But for most professionals, staying put isn't always the best financial move.

💼 The Modern Raise Strategy

Recent data shows that switching jobs often leads to higher pay increases than staying in the same role. In many industries, job changers have seen **double the salary growth** compared to those who stay.

It's a reminder that sometimes, the best way to move forward is to make a move.

🔄 What Happens to Your 401(k) When You Leave?

When you change jobs, your old 401(k) doesn't automatically follow you. You may have options such as:
- Leaving it with your former employer
- Moving it to your new employer's plan
- Transferring it to a personal retirement account
- Or other choices depending on your situation

Each path has different implications for control, fees, and investment flexibility.

🧠 Wealth Tip:

If you're making a career move, it's a good time to:
- Review your retirement accounts
- Understand your options
- Stay informed about how transitions affect your long-term planning

Whether you're chasing a raise or a new opportunity, make sure your financial strategy evolves with your career.

Want to learn more about how to stay financially organized during a job change? Let's connect.

01/06/2026

From Salt Fork to SoCal: A Week of Growth and Gratitude

✅ Monday: Office 7:30–3:00, then Baseball workouts at Hoban 3:15–6:00

✅ Tuesday: Leadership Stark County retreat at Salt Fork — full day of leadership development

✅ Wednesday: More sessions 8:30–3:30, then a 5:30PM flight to LA

✅ Thursday: Capital Group's Leading into the Future Forum kicks off — full day of sessions, dinner at Redbird

✅ Friday: Leading into the Future morning sessions, attempted surfing at Santa Monica Beach 🌊, Dodgers game at night ⚾

✅ Saturday: USC football under the lights 🏈

✅ Sunday: 6:30AM flight home ✈️

Grateful for the chance to grow, connect, and recharge — both professionally and personally. From leadership development in Ohio to industry insights in LA, it's weeks like this that remind me how much I love what I do!

01/02/2026

Ohio High School Athletes Can Now Profit from NIL—

Here's What That Means
As both a high school coach and a financial advisor, I see two sides of this new opportunity for athletes:

✅ Coach's Perspective:
This is a game-changer for student-athletes. NIL deals can open doors—but they also bring distractions and risks. Education matters more than ever. Athletes need to know who to trust and how to protect their eligibility. A bad decision today can cost a scholarship tomorrow.

✅ Advisor's Perspective:
Earning money at 16 or 17 sounds exciting, but without financial literacy, it can lead to mistakes. Understanding taxes, contracts, and budgeting is critical. NIL income isn't just "extra cash"—it's a business. Treat it like one.

Bottom line:
NIL is an incredible opportunity when managed wisely. Let's make sure athletes and families have the tools to succeed—on the field and in life.

beaconjournal.com