Evan Drury of Gateway Financial Partners

Evan Drury of Gateway Financial Partners Financial Advisor

I make plans to help you retire and stay retired

Just buy the stupid coffee.Sure if you saved and invested everything, never went out or took a vacation over decades you...
05/05/2026

Just buy the stupid coffee.

Sure if you saved and invested everything, never went out or took a vacation over decades you'd have a lot more money.

But that's not a life.

The key is to plan to enjoy/secure today and the future.

"$100 Million isn't Enough to Last a Lifetime" - Odell Beckham Jr.I thought about this after watching the NFL draft.So i...
04/29/2026

"$100 Million isn't Enough to Last a Lifetime" - Odell Beckham Jr.

I thought about this after watching the NFL draft.

So in the NFL what do you do when you get drafted? Buy a few Maserati's.

This is Peter Woods just got drafted in the first round to Kansas City

Contract Total Value: $17.3 million (fully guaranteed)

Average Annual Value (AAV): $4.3 million (including part of the signing bonus and other incentives)

Signing Bonus: $9.041 million (paid over the life of the rookie contract or spread over the years)

Base Rookie Salary (2026): $3.1 million

Years: 4 years, with a fifth-year club option available to first-round picks

A Maserati for Mom and a Maserati for Sis - $200,000

Not a big deal when you're looking at that amount of money but here's the bigger issue.

The average NFL career lasts 3.3 years.

Nearly 80% of players who retire from the league have financial difficulties.

And the crux of the contract issue - Taxes

1. Federal
2. State
3. City
4. Jock Tax - different states they play in require taxes too
5. Agent
6. Family requests

Ball park think about it this way if he get's most of his incentives and gets $4,000,000 in year one.

You can expect he will net $2,000,000 after taxes and expenses 1-5 alone.

While this is still an absurdly large amount of money it's amazing how many people spend it all on lifestyle and family requests in a short amount of time.

It's very similar to inheritance.

This is why it's so important to educate the next generation and create an estate plan.

So when money comes in. More than they've ever had at one time. They know what to do to make it grow and make it last just like you did or have some guardrails put in place.

Don't focus on the individual pieces alone.Investments and taxes go hand in hand.There are many risks to consider not ju...
04/24/2026

Don't focus on the individual pieces alone.

Investments and taxes go hand in hand.

There are many risks to consider not just investment risk.

Planning is this year and thinking 10-20 years down the line.

A real plan puts all the pieces together, so they work together to complete your picture.

People looking to retire focus too much on their 401k and IRA.They forget to diversify their accounts.The taxable accoun...
04/22/2026

People looking to retire focus too much on their 401k and IRA.

They forget to diversify their accounts.

The taxable account is a powerful tool to have in their tool box and here's what I mean:

If you're a good saver/investor you're watching your budget

Maxing your 401k and think you're making all the right moves.

It's not terrible but I like to have more options.

When you reach retirement and start to distribute funds those distributions will be taxed as ordinary income (think of the tax brackets)

Marginal tax rates can change so this concern is much more over the rest of your life than just being taxed on all distributions. It's what's the tax rate going to be.

Add in another option

The taxable account - taxable today instead of deferred to later like the 401k.

But after holding positions for a year and a day you're in the capital gains tax bracket.

0%
15%
20%

One last option would be Roth

Taxed at contribution - Tax free on distribution provided you meet the requirements.

Can do Roth conversions in low income years for example but note that you have a separate Roth conversion clock for each conversion.

Life today account
Living investment account

70% of wealthy families wealth is gone by the second generation and 90% by the third generation.Study by the Williams Gr...
04/21/2026

70% of wealthy families wealth is gone by the second generation and 90% by the third generation.

Study by the Williams Group of 3,200 families. Is the study flawless, no and could there be different percentages out there, sure but that's not the focus we need.

What really matters here is what you do for yourself and your family regardless of the exact figures are for the country averages.

So how do you make sure you keep your hard earned money in the family?

- Talk to the next generations about money

Kids/grandkids need to have the wisdom, discipline and habits you've built over the years instilled upon them.

So they don't make the same mistakes and can build from where you leave off.

Let them know what they need to do to build and maintain.

Provide guidelines if you're not there through an estate plan.

-Wills - necessary for everyone that has assets or some money in the bank they'd like to be passed quickly and effectively to the next generation

- Trusts - really depends on the situation but sometimes families need more than a Will. Although the Will is very effective and can create a Trust within called a Testamentary Trust.

- Powers of attorney and healthcare proxies - To outline care and advocates while living.

Anecdotally I've seen 100's of family plan and live through retirement over the years.

- The ones that plan and communicate have a great chance to preserve assets and grow.

- Some people aren't good with money and need additional planning as they will never be good with money, don't care to learn and will spend recklessly

- Typically one spouse focuses on investments and planning and there should even be plans in place for the surviving spouse who has no interest in investments or plans just in case.

- Divorces in generations 2 and 3 can really complicate everything. Planning for this ahead of time if you have considerable wealth is very important and helpful.

04/20/2026

Why would I hire a financial advisor if they will just invest in a couple funds for me?

Great question - don't hire someone who is doing only the basics.

A great financial advisor/financial planner covers your entire financial life.

What you really need to look at:

-Tax planning not just today but looking at your lifetime
- Building wealth in the right places
- Building wealth with the right risk
- Protecting against the unknown - securing yourself and your family
- Putting guardrails in place to protect you while you're here and guide your family if you can't
- Monitor cash flow to maximize the fun parts of life and financial strategies at each stage
-Creating a retirement paycheck so you know when you're done with work you don't have to worry about running out of money but also aren't saving too much you can't enjoy yourself.

To name a few things

04/20/2026

Dave Ramsey can be great when you're in a lot of debt and need to correct course.

Everything after that is usually bad advice.

Particularly investing takes - I'll put a video out on that later this week.

Address

Montclair, NJ
07043

Telephone

+19735661042

Website

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