George has a passion for developing meaningful relationships with clients, in helping them uncover and realize their life’s goals. He understands that true financial advice isn’t prepackaged and is best served in a fee-only, unbiased manner. Each day, George looks forward to tackling complex and evolving issues that directly impact the lives of our clients.
Prior to joining the Mosaic team, George served in multiple client support positions for an array of financial institutions. George earned his CERTIFIED FINANCIAL PLANNER™ designation in 2015 and is currently pursuing his MS in Financial Planning and Taxation with an emphasis in Estate Planning at Golden Gate University. George joined the Mosaic team in 2016.
As a part of the next generation of Bay Area financial planners, George has been quoted in multiple news publications on his money advice for millennials. As a newer San Francisco resident, you can find George and his girlfriend crossing off countless top-ten lists while expanding their newly-found wine palates or embarking on urban hikes off the beaten path.
According to a recent study conducted by NerdWallet, most college students don’t understand how loan interest or capitalization works. This comprehensive article by Farran Powell ends with a word of warning from George:
“Even if you have filed bankruptcy, generally speaking, your student loan will still be waiting for you on the other side.”
Stigmatized by debt, millennials may avoid using credit cards out of fear, writes Nathaniel Meyersohn for CNN. Geoge notes that this may mean missing out on scoring rewards for your day-to-day spending.
“When done right and responsibly, you can leverage your accumulated rewards to accomplish your goals without breaking the bank,” says San Francisco CFP George Galat.
Avoid chasing rewards because that can lead to spending beyond your means.
But do take advantage of credit card offers that allow you to maintain your usual spending habits, Galat advises.
Note: George’s contribution to this CNN article was also quoted in an article on rising credit card debt for the Jacksonville Business Journal.
What’s the difference between saving the money you have left over at the end of the month, and “paying yourself first?” Enter George:
“Anybody can save the remnants of a paycheck after they’ve spent most of it... [Paying yourself first] is purposeful, proactive and implies a level of progression toward a collection of goals,” says Galat.
Frugal traveling isn’t an oxymoron. George gives CNN writer Shannon Gupta a few tips on using consumer credit to your wanderlust advantage:
These sign-up bonuses can save you money, but they can lead to excessive debt if you aren’t careful.
Instead of overspending just to achieve the bonus, try using your card to pay for items you’d purchase anyway, such as groceries, says George Galat V, a CFP at Mosaic Financial Partners.
Before signing up, Galat recommends calculating whether the potential rewards outweigh the cost.
George explains just why an emergency fund is so important to create before moving onto other financial goals:
“Life has an uncanny ability to throw financial curve balls,” said George Galat V, a financial planner at Mosaic Financial Partners. “Whether that be unexpected car or home repairs, a medical emergency or other odds and ends that crop up.”
Carrying debt is a fact of modern life. Writer John F. Wasik dives into how to regard debt and how to approach its different forms. George is quoted throughout the article.
“It may not make sense to pay off your mortgage right away in retirement,” says George Galat, a certified financial planner with Mosaic Financial Partners in San Francisco. “You may want to invest more money.”
Galat also notes that many mortgages these days are low-cost debt, so they are much less of a burden than they’ve been in the past. You may even be able to refinance at a lower rate to reduce your monthly payments.
How can a financial goal most effectively create and sustain new habits? Certified financial planners debate over who has the final say in the creation of goals in this article for TheStreet by Brian O'Connell. George weighs in, noting that the control should ultimately be determined by the client for maximum results.
“Clients should set their own goals,” says George Galat, a financial planner at Mosaic Financial Partners in San Francisco. “The advisor should merely be a facilitator in the financial planning dialogue, much like a therapist doesn’t say to their patient suffering from anxiety, ‘stop thinking so negatively, you will be happier.’”
That’s not what the patient pays for. They pay for help through the process, changing the way they think, Galat adds. “As advisors, we can’t just say, ‘Save more, spend less,’ and call it a day. Proper financial planning is a dialogue about the positive or negative consequences that arise from choosing a certain option among the many we offer to our clients.”
BS, Economics, Arizona State University, 2012
MS, Financial Planning and Taxation, Estate Planning emphasis, Golden Gate University, 2018 (In progress)
CFP®, CERTIFIED FINANCIAL PLANNER™ professional, 2015
San Francisco Financial Planning Association (FPA),
Member, 2012 - Present
San Francisco NexGen (FPA), 2015 - Present