This podcast is for sales professionals who want to organize their financial lives and keep more of what they make. Topics we focus on include reducing taxes, optimizing retirement planning, dealing with equity compensation issues, planning around fluctuating incomes, investment management and much more. It is a segment-type show with episodes less than 20 minutes in length.
How Much Do You Need for Retirement?
I see articles at least once a month with advice on how to answer the question of how much you need to save for retirement. These articles all have common themes to them but there is no consistent answer. It's an individual situation. Many articles say things like having 10 times your income is the answer. This might be applicable to the 64 year old who is getting ready to retire but what about a 30 year old who has her best income earning years ahead? Tune in to hear my take on this age old question.
You will want to hear this episode if you are interested in... The loaded question the financial media loves to ask [0:21] Why 10x your income isn’t right for everyone [1:27] Know what you spend! [3:18] Projecting what retirement will look like [4:18] Knowing your inflow numbers [5:07] Getting a back of the napkin rough estimate [6:00] The sales tip section: Accomplishments [7:29] This week’s FLASHBACK [8:33] Connect With Dan Johnson https://forwardthinkingwm.com Subscribe on Youtube Follow on Linkedin
HSA vs FSA
HSA vs FSA, Ep 11
I meet with clients during their open enrollment periods so that we can discuss their benefits packages. Medical expense is something that comes up often so we discuss Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). Why these two? Well, they get used interchangeably, but they are two completely different things. In this episode, I'm going to bullet point the highlights of these two types of accounts that are both designed to help you cover out-of-pocket medical expenses so be sure to listen in.
You will want to hear this episode if you are interested in... The Health Savings Account (HSA) highlights [0:58] The Flexible Spending Account (FSA) highlights [2:07] Using an HSA in retirement [4:09] The sales tip section: Celebrating the small wins [5:52] This week’s FLASHBACK [6:39]
Stock Options - The Basics
Equity compensation is a tremendous way to grow your wealth directly through your company's success. However, it can get complicated quickly. My hope is that clients will take the time to understand and make sense of their equity compensation so that they are able to do the things they want in retirement. Today we will be talking about the ins and outs of stock options. Join me to learn more and how to get the most out of this time-sensitive alternative compensation option from your employer.
You will want to hear this episode if you are interested in...
A couple of truths about equity compensation [0:26] What is a stock option? [1:38] Common time restrictions to be aware of [2:17] Cliff vesting [2:35] Graded vesting [3:02] Overall timeframe to exercise your options [3:25] What does it mean to be “in the money” and is it as good as it sounds? [4:03] Options for paying for your options [5:50] When is a stock option a risk? [6:36] Incentive vs Non-qualified stock options [8:03] Incentive stock options (ISOs) [9:23] The sales tip section: Choose “hell yes” clients [11:48] This week’s FLASHBACK: School photos [11:23] Connect With Dan Johnson https://forwardthinkingwm.com Subscribe on Youtube Follow on Linkedin
The Baby IRA
This week I’ll play off of last week’s episode on college selection by going back a little further. Specifically, back to when your child was born. I was recently talking to someone about the power of compound interest and how early our kids can start saving for retirement. It sounds weird to talk about 16-year-olds saving for retirement, but we know the power of compound interest. What if there was a way to start saving at birth? Listen in as I go over the concept of the Baby IRA.
You will want to hear this episode if you are interested in... The concept of the Baby IRA [1:14] The bigger issue of taxes [2:46] What if the Baby IRA really did exist? [4:00] The sales tip section: Vision Boards [5:53] This week’s GenX FLASHBACK [11:23] Connect With Dan Johnson https://forwardthinkingwm.com Subscribe on Youtube Follow on Linkedin
College Visits - Our Experience and Tips
Today we are going a bit off-topic. A big part of the role I play with clients isn't just talking about improving their financial picture but helping them achieve a better work-life balance as well. So what off-topic topic are we talking about? The college selection process. I’ve been through it once already and am going through it again this year. Both experiences are turning out to be different but I feel there are a few things I can share that may help any of you who are in the same boat. Tune in to the episode for details on our experience.
You will want to hear this episode if you are interested in... Admissions counselors and how they can make a difference [2:07] The blend [3:04] Your mail vs your kid’s email [4:02] Why it’s a buyers market for shopping students [4:24] Having your child talk to someone in the profession they may pursue [5:57] The sales tip section: Sandler success triangle [9:31] This week’s FLASHBACK [11:23] Connect With Dan Johnson https://forwardthinkingwm.com Subscribe on Youtube Follow on Linkedin
Employee Stock Purchase Plans
In continuing our Equity Compensation series, today we are talking about ESPPs. Wondering what ESPP stands for? Well, it’s an Employee Stock Purchase Plan and the most common form of equity compensation that we will cover. It’s available to almost any full-time employee of a publicly-traded company; and for this reason, it’s my favorite kind of compensation.
So what is an ESPP exactly? It’s a great vehicle to allow employees to purchase employer stock, preferably at a discount. The advantage is you get to buy the stock from the company you work for at a price that is lower than it would be if purchased on your own. When you participate in an ESPP, your investments are held in a regular old investment account. Check out the episode to find out why and maybe some other useful tips too!
You will want to hear this episode if you are interested in... Who can get an employee stock purchase plan? [0:21] Advantage of an ESPP [1:25] Key differences between an ISO & an ESPP [2:32] How ESPPs operate [3:56] The ins and outs of offering periods [5:02] The sales tip section: How NOT to get referrals! [7:58] This week’s FLASHBACK [10:17] Connect With Dan Johnson https://forwardthinkingwm.com Subscribe on Youtube Follow on Linkedin