Weston DePriest - Financial Planner

Weston DePriest - Financial Planner Weston DePriest | Financial Planner & Wealth Manager | Educator
Trusted Independent Wealth Management Advisor

07/10/2026

Could a Roth IRA conversion help reduce future taxes in retirement?

The answer depends on your income, tax bracket, retirement timeline, Medicare situation, and long-term goals.

If you are interested in a ROTH IRA conversion make sure to thoroughly review the pros and cons before making any decisions.

If you would like a review of your accounts to see if it makes since, comment "REVIEW" in the comments and I will send you a DM

07/09/2026

Do you have old 401(k)s scattered from previous jobs?

You’re not alone.

As people change careers, it’s common to leave retirement accounts behind. But having multiple 401(k)s can make it harder to track your investments, fees, risk, and overall retirement plan.

Bringing those accounts together may help simplify your financial life and give you a clearer picture of where you stand.

Comment or DM me “old 401k” and I’ll send you a simple checklist of things to consider before moving or consolidating accounts.

07/08/2026

I often teach Financial Classes. I want to make these classes as valuable as possible to the people who attend them.

If you were going to attend a class, what would be the main topic you would want to know more about? Let me know in the comments please! 👇

07/07/2026

Trump Accounts are officially open, and this could be a great planning opportunity.

For eligible children, the federal government is offering a one-time $1,000 contribution into a new long-term investment account designed to help jumpstart a child’s financial future.

ALSO even better for my fellow Oklahoma families: the State of Oklahoma has announced an additional $250 contribution for eligible Oklahoma children.

That means some families may be able to start a child’s account with $1,250 before adding anything of their own.

A few key things to know:

· Designed for children under 18
· $1,000 federal contribution for eligible children born from 2025–2028
· Oklahoma is adding $250 for eligible Oklahoma children
· Families can contribute additional money each year
· Funds are intended for long-term growth and future financial flexibility

This doesn’t replace other planning tools like 529 plans, Roth IRAs, or traditional investment accounts, but it may be worth reviewing as part of a broader family wealth-building strategy.

Small dollars invested early can make a big difference over time.

06/25/2026

We had husband and wife clients who wanted to liquidate half of their 401ks immediately after retiring and pay off all debts (including primary residence) AND build a lake house.

Luckily, they had good sized 401k balances, but still this would have greatly affected their retirement income plan as well as generated a very large tax bill if they did this all in the same year.

Instead, we developed a plan that immediately paid off most debts, then a tiered plan over the next few years to pay off the primary residence, and fund the build for the lake house.

Planning this out in this way:

1.) Did not put as big of a strain on their Income plan
2.) Did not cause a huge tax bill all at once.

When you are ready to put your plan together send me a DM and lets talk.

06/24/2026

One of the most overlooked wealth-building strategies for business owners:

Hiring your kids.

If your child does legitimate work for your business (filing, cleaning, helping with social media, organizing, basic admin work, etc.) and you pay them a reasonable wage, that income may qualify as earned income.

Why does that matter?

Because earned income can allow them to contribute to an IRA.

For 2026, IRA contributions are limited to the lesser of $7,500 or the person’s taxable compensation for the year. So if your child earns $3,000 from legitimate work, they may be able to contribute up to $3,000 into an IRA.

If they earn $7,500 or more, they may be able to contribute the full $7,500.

And for many young workers, a Roth IRA can be especially powerful because they may be in a very low tax bracket today, while giving that money decades to potentially grow tax-free.

The key is doing it correctly:

1.) The work must be real
2.) The pay must be reasonable
3.) You need proper documentation
4.) The income needs to be reported correctly
5.) The IRA contribution cannot exceed earned income

Even a few thousand dollars invested with a 50 year runway can turn into a very meaningful amount later in life.

Small strategy. Big long-term impact.

06/19/2026

Have you had a child since January 1, of 2025? or maybe plan on having children over the next couple of years?

You may be able to get a free one time $1,000 contribution into a new type of child-owned, traditional IRA-style account, You may hear them by their nickname "Trump Accounts." Parents, guardians, or other authorized individuals can elect to open one for an eligible child through the IRS.

Children born between January 1, 2025 and December 31, 2028 may qualify for a one-time $1,000 pilot program contribution, as long as they are U.S. citizens, have a valid SSN, and have not already had a pilot contribution election processed.

Families and others may contribute up to $5,000 per year. Employer contributions may also be allowed, with up to $2,500 per year potentially excluded from the employee’s taxable income.

The money generally must be invested in eligible U.S. stock index mutual funds or ETFs, and withdrawals are generally restricted until the year the child turns 18. After that, the account is treated more like a traditional IRA.

Here is how to open one:

1.) Go to your IRS Individual Online Account

2.) Sign in or create an account through ID.me

3.) Submit Form 4547 — Trump Account Election(s)

4.) You’ll need your child’s Social Security number, date of birth, and address

5.) After submitting, you can check the election status through your IRS account

Any questions you have on this please reach out!

06/18/2026

Elon stated in a recent interview that saving for retirement may be unnecessary in 10-20 years, because of the advances in AI.

I am curious what everyone else's opinion on this is? Let's have a discussion.

06/17/2026

High income is a blessing, but it can also create a false sense of security.
Many high earners are great at making money, but long-term wealth is usually built by how well you keep, grow, protect, and eventually distribute that income.

A few strategies high-income earners should be thinking about:

1. Maximize tax-advantaged accounts
401(k)s, HSAs, backdoor Roth strategies, and other retirement plans.

2. Build a tax-efficient investment strategy
It’s not just about what you earn, it’s about what you keep after taxes. Asset location, capital gains planning, and tax-loss harvesting can matter more as income grows.

3. Protect your income and estate
Disability insurance, life insurance, umbrella coverage, wills, trusts, and beneficiary planning are often overlooked until it’s too late.

4. Create a long-term retirement income plan
The goal isn’t just accumulating assets. Eventually, those assets need to become a reliable paycheck that supports your lifestyle.

5. Avoid lifestyle creep
As income rises, expenses usually rise with it. The families who build lasting wealth often increase savings and investing before upgrading the lifestyle.

6. Plan for major transitions
Business sales, career changes, retirement, inheritance, and college funding all require proactive planning, not last-minute decisions.

High income gives you options.

Good planning helps turn those options into freedom.

I have included a link in the comments to book an introductory call when you get ready to sit down and discuss your situation 👇

06/12/2026

Should I gift my children my house(s) or leave it to them as an inheritance?

In addition to Financial Planning I also teach a lot of Financial Education at various locations, and I get this question almost every time I teach a class to pre-retirees and retirees.

Before you start transferring investments, real estate, or other appreciated assets during your lifetime, it’s important to understand what may be lost.

A BIG advantage of inheriting assets after someone passes is the potential for a step-up in cost basis.

That means your beneficiaries may inherit the asset at its current market value rather than your original purchase price.

For example:
If you bought a house, land, stock, or a business interest years ago for a low price and gift it during your lifetime, your beneficiary may also receive your original cost basis. (the original price you paid for it)

But if they inherit it after your passing, that basis may be adjusted to the value at the date of death. (the price that it is worth when you pass)

That can potentially reduce or even eliminate capital gains taxes if they sell upon your death.

Generosity is a great thing.

But gifting assets without understanding the tax and estate planning impact can unintentionally create problems.

Before you make any tax, estate planning, or financial decisions be sure to discuss your individual situation with your CPA, Estate planning attorney, and Financial advisor.

When you go to put your individual plans together I will be happy to sit down with you and any of your other professionals.

Address

Edmond, OK
73025

Telephone

+14056391993

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