Your 401k is often the centerpiece of your retirement planning strategy. For Garmin employees there are great internal resources for HR questions but sometimes they are not able to answer all of your questions reagrding your 401k or you may not be comfortable asking someone financial questions.
Employee stock purchase plans (ESPP) can be an overlooked benefit from your employer and you could be leaving a thousand of dollars each year on the table by not participating! ESPPs can be an important helper in building wealth and reaching your goals. They are not the type of account that can be left alone for years, they need some attention along the way.
This Autumn has been filled with fascinating conversations about ups and downs. The weather has most of us in Kansas City checking the calendar to see if it is still summer. We are still growing tomatoes in our garden in early November! Oak mites are a villain we wish would go away like creepy clowns, but the obvious elephant in the room is the election.
Employee stock purchase plans (ESPP) give plan participates the ability to purchase shares in their company stock at discounted rates.
Imagine if you tried to put a price tag on your house at the end of every day or even several times a day. The process would drive you crazy! Think of all of the small things that could impact the price of your house. If a neighbor forgets to bring their trash can, minus 1%.
CDs have been a simple low risk investment for generations. What happens when you add a little spice to your grandma’s CDs? Banks and Wall Street firms are trying to add some zest to what is historically the most boring way to save outside of putting money under your mattress (until a house fire).
Owning your company’s stock in your 401k is a common way to save for your retirement. When you leave your company you will probably just roll your 401k or other workplace plan into an IRA and not think twice about the process.
When you pass away if you could not leave any money to your children, but only one piece of financial advice, what would it be? I was asked this excellent question and had to pause. My mind raced trying to think of all the financial advice I had heard and also given, things you want your kids to avoid and habits you want kids to know sooner than you figured them out.
As humans we are built to recognize patterns. If we roll two dice and they come up with snake eyes three times in a row our natural inclination is to think that on the fourth time they’ll come up again. The odds remain the same to roll two ones on the dice but our minds are drawn to the trend. Overtime these trends start to form biases in our thinking.
“An ounce of prevention is worth a pound of cure.” – Benjamin Franklin