Financial Planning Archives - Financial Staples
 

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Many public tech companies offer an Employee Stock Purchase Plan (ESPP) as an employee benefit. ESPPs allow employees to purchase shares of company stock at a discount through payroll deductions. On the surface, the decision to participate in an ESPP is a no-brainer. After all, the discount is free money! Suppose you are juggling financial priorities or receiving other forms of equity compensation (like restricted stock units or stock options). In that case, the decision to participate in an ESPP is a bit more complicated. Before you enroll in your company’s plan, here are some things to consider.

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When I purchased my first home, I thought I was prepared for homeownership. I did extensive research and prepared myself financially for the responsibility. I was an aggressive saver and my only debt was student loans (of less than $5,000). After buying my first home and owning it for nine years, I learned many invaluable lessons that showed me I wasn’t truly prepared for homeownership.

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You just received a job offer from a tech company. In addition to your salary (and maybe a sign on bonus if you’re lucky) you receive Restricted Stock Units (RSUs). Maybe you’ve received RSUs annually as part of your bonus compensation. Meanwhile, you’re staring at this student loan debt that seems to never go away. Or you have other financial goals, such as buying your first home or taking a sabbatical. How can you use your RSUs to help you reach your financial goals?

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I often hear the same questions about financial priorities: Should I pay off debt before I save, or is it possible to do both?  How much should I invest in my company’s 401(k)? When does it make sense to contribute to a Roth IRA? Whether you’re just starting in your career or finally at the point where you have more coming in than going out, it’s helpful to know how to prioritize saving, investing, and paying off debt.

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Copyright © 2016-2021 Financial Staples, LLC. All Rights Reserved.