What You Need To Know
Below are just a few key aspects that you should consider and watch out for when you are switching companies, roles, or careers. Each of these areas will play an important role in your life and may affect each other in one way or another over the next few decades to come.
1) Reevaluate taxes
As you change companies, careers, or roles, your salary and other compensation may also be affected. Depending on your overall circumstances, it may be a good time to reconsider your tax planning strategy and adjust any withholdings based on your new income to avoid any surprises come tax time.
2) Coordinate benefits
Any time you start a new role, it is important to evaluate your personal current and future needs and pick the benefits that will help you achieve those. Take the time to understand all the benefits that your new company offers and seek professional advice to see which ones make the most sense vs. which ones you can decline.
3) Merge retirement accounts
When you move companies, you will have a few options regarding your old retirement plan. You can typically keep it with your old company, you can roll it into your new company's plan, or you can roll it over into an Individual Retirement Account (IRA). Seek professional advice to see which option is best for your specific situation.
Common Mistakes
NOT UNDERSTANDING TAXES
You may need to adjust tax withholdings if you earn more
NOT OPTIMIZING BENEFITS
Ensure you are taking advantage of
all available benefits available to you
IGNORING OLD 401K ACCOUNTS
Missing out on coordination between accounts and future growth potential
Services You Should Consider
Any time there is a change in your life, it is important to consult with a trusted investment, tax, and/or legal advisor to ensure to reevaluate your overall financial, tax, insurance, and legal plans and ensure they still fit your overall life needs and goals. By doing so, you can avoid costly mistakes and reach your overall goals in the most efficient manner possible.
Investment Management
NEAR AND LONG-TERM STRATEGY
Working with a fiduciary investment advisor can help you merge and manage all of your retirement accounts in one place.
Tax Planning, Prep, & Filing
Insurance Solutions
Estate Planning
EFFICIENT TAX STRATEGY
Proper tax planning can ensure that you are always one step ahead of your taxes and help you avoid sudden surprises.
PROTECTION FOR THE FUTURE
Having an third-party advisor that knows the rest of your life's financial picture can be beneficial in helping you pick benefits as work.
AVOID CONFLICT & PROBATE
Access our network of trusted attorneys that can help evaluate your estate planning needs and help you avoid conflict and probate.
Have Questions or Need Advice?
By offering most tax, investment, planning, and insurance services in-house, we are dedicated to helping you reduce fees and save time when it comes to helping you achieve your financial goals and needs. You will gain peace of mind knowing all of your affairs will be coordinated, aligned, and managed with one simple phone call.