Company-provided benefits are typically designed for the rank-and-file employees and may leave you far short of your needs, particularly in the areas of retirement planning, disability income, and life insurance protection. And stock options are a well-deserved perk, but how will they affect your taxes? It is important to understand exactly what your company’s benefits do and do not provide for you, and carefully construct a supplemental program.
Here are some key issues to consider:
- When was the last time you reviewed your company’s benefit package? Do you know what is – and is not – provided?
- Have you constructed a program that supplements your company’s benefit package to meet all of your needs?
- How do stock options impact your overall personal financial plan? What are the tax considerations to be taken into account?
- What is a non-qualified retirement plan? How do I know if I need one? How do I know if I have one? Is this like my 401(k) plan?
The Professional With a Plan Wins