Michael J. Garry Esq.

For executives, don’t let your compensation and wealth become overly concentrated in your employer or company stock. Build a coordinated strategy for managing equity compensation, taxes, investments, retirement savings, and insurance based on your broader financial goals. The goal is to turn career success into lasting financial flexibility and security.

Make sure your financial plan keeps pace with your income, benefits, and career. Coordinating investments, taxes, insurance, student loans, and equity or compensation opportunities can help your financial decisions work together. The goal is to turn a demanding and successful career into long-term financial flexibility and security.

You have worked hard and saved to get to this point. It would be helpful to create a clear plan for how to turn those assets into sustainable retirement income. Coordinate any investments, Social Security, retirement account distributions, taxes, and cash reserves so your money can support the lifestyle you want and have worked for.

Don’t wait to address legacy planning until a major life event forces the conversation. Take time sooner, rather than later, to organize your estate, beneficiary designations, charitable goals, and plans for passing wealth to the next generation. A coordinated plan can help ensure your wealth is transferred according to your wishes.

As you approach retirement, creating a plan for how your savings will become a reliable source of income for the rest of your life can help quell nerves about not receiving a paycheck. Having a plan in place can help you enjoy retirement with greater confidence while staying prepared for the unexpected.

When you receive a significant inheritance or sudden wealth, it is important to take time to evaluate taxes, cash needs, investments, estate planning, and how the new wealth fits into your long-term goals before deciding what to do with it.