『What to Do With Your Money When You Change Jobs』のカバーアート

What to Do With Your Money When You Change Jobs

What to Do With Your Money When You Change Jobs

無料で聴く

ポッドキャストの詳細を見る

今ならプレミアムプランが3カ月 月額99円

2026年5月12日まで。4か月目以降は月額1,500円で自動更新します。

概要

 Most people accept a new job offer thinking about salary and title. What they don't think about: the potential financial gaps that could trip you up in the process of changing jobs or making a career pivot (even if you accepted a job with more starting salary). Eric and Kali break down everything that is likely to shift with your finances when you change jobs. They cover what often goes wrong that most people never consider, including: The tricky tax trap if you put your new 401(k) on autopilot and don't calculate what you're actually allowed to contribute for the year - because whatever you put into your old 401(k) before you switched jobs counts toward the max!Why you may have to pay back HSA contributions you already made if you change jobsWhat to watch out for in ambiguous offer letters that make promises of equity compensation… but don't actually include real guarantees.How group life insurance through your employer can actually be more expensive than a private term policy once you need significant coverage, not less In this episode, we're explaining how you can be better prepared to fill all the financial gaps that a career pivot can leave (yes, even when you're changing jobs for a better-paying position). Instead of just focusing on top-line numbers like base salary, we're coaching you on how to deal with: Health insurance gaps, COBRA, and how a job change is a qualifying life event you can use strategicallyThe four things you can do with an old 401(k), and why the "right" answer is genuinely different for every person (including some of the decision tree we use to guide our financial planning clients) Why rolling your old 401(k) into an IRA can blow up your backdoor Roth IRA strategyHow to read a job offer letter like a financial planner: total comp, bonus probability, equity type, and what's actually negotiableWhat your real financial runway looks like if there's a gap between jobs, and how to calculate it KEY TAKEAWAYS Changing jobs can create financial planning gaps - but you can cover them if you know where to look. When you change jobs, you need to consider how your health insurance will change, if you have sufficient life and disability insurance, what kind of runway you have if you're looking to take a break between jobs (or if you experienced a layoff), and what to do with things like old 401(k) plans or HSAs. A job change is a qualifying life event for health insurance changes. If you change jobs, or lose your current job, you have 30 days to elect new coverage. While many people think of COBRA when laid off, don't forget to consider switching to a spouse or partner's plan. When changing jobs, always compare the new employer's benefits to your spouse's so you can choose which option is best for your household. Look at the full value of the compensation package if offered a new job. Salary is just the starting point. Bonus probability, benefits costs, and equity type all affect your real take-home pay. Read the benefits guide before you accept the offer, not after. Most people don't ask for it upfront, but it's fair game to request. Knowing what you're gaining and losing on insurance, retirement matching, and other perks before you sign gives you information, and possibly leverage in negotiations. Group life insurance isn't always the deal people assume it is. Once you add supplemental coverage to get to a meaningful benefit level, group premiums can actually cost more than a private level-term policy. Plus, group policies often don't travel with you, can be more expensive than private coverage at higher benefit levels, and may lack important riders like cost-of-living adjustments. Take the free base coverage from an employer when offered, but then consider getting private term life and private long-term disability insurance so you're protected regardless of who employs you or what their benefits package looks like. Be very careful with new 401(k) plans when setting up withholding amounts when you change jobs midyear. Your new employer's 401(k) has no idea what you already contributed this year. The IRS limit is per person, not per plan… and you're the only one tracking that when you switch jobs. Blow past the limit mid-year job change and you're looking at a paperwork headache to reverse it. Know the rules around HSAs, too Your HSA is more flexible than your 401(k), but mid-year plan changes can create tricky contribution rules. If you switch to or from a high-deductible plan, know the rules before you max out. Don't just leave your old 401(k) behind You have four options for an old 401(k): leave it, cash it out (usually a bad idea), roll it into your new employer's plan, or roll it into an IRA. The right answer depends on investment options, costs, and whether you use a backdoor Roth IRA strategy. Cash reserves are your runway. A 6+ month emergency fund gives you the breathing room to make a career transition on your own terms — or weather an unexpected layoff without ...
adbl_web_anon_alc_button_suppression_c
まだレビューはありません