For the Executive

As an executive in today's busy business world, your time, energy and vision help to chart the course of where your company will head.  Many of today's women executives dedicate much of themselves to the passion of their work. But are you maximizing what your company gives back to you as rewards for the fruits of your labor?

Many companies today reward executives with complex financial packages and incentives, like stock options, deferred compensation programs, bonuses, and supplemental benefits.  Many executives are also highly compensated employees, resulting in a heavy annual tax burden. 

Women's Wealth Management can help you streamline your financial situation to ensure you take maximum advantage of the financial resources provided to you while minimizing the time it takes to manage them, including:

  • Maximize the financial benefits your company offers you
  • Understand complex benefits such as stock options and how to take maximum advantage of them for your financial well-being
  • Take advantage of programs to reduce your tax burden
  • Plan for a fruitful retirement   

 FREE Report - Nine Things a Retiring Woman Should Know by Michelle Ash

So you are about ready to retire…..congratulations! It may be one of the most exciting times in your life. Retiring is also a huge decision, and you may find it overwhelming when you consider the long list of things you need to do before you reach that special day. Retirement isn’t like riding a bike – it generally isn’t one of those things in life where a person wants to “keep trying until you get it right”. Most people only want to retire once. With that in mind, here are nine common mistakes you should know about BEFORE you retire. Avoiding these common pitfalls may help you get it right the first time.
 
1. Depending on fixed returns for your retirement savings because that provides enough money today
 
If you’re planning to retire, you no doubt have on your mind how you are going to have enough money to live comfortably. You may have heard rules of thumb, such as – multiply your retirement savings by 5% and if the result is enough money to live on, you’ll be fine. The assumption this rule of thumb makes is that you’ll put your money somewhere conservative, like a CD or bonds, and live on the interest from that investment to provide your income. Initially, this may sound like a good idea, but let’s play out that scenario a little bit further into the future. Say your retirement savings totals $500,000 dollars. You multiply by 5% and find that the answer is $25,000 annually in earnings. You think, if that was a CD and it made me $25,000 per year, I could live on that. Today, maybe you can, but what about in 15 years? You see, we have to be concerned about inflation along the way. Inflation is this sneaky thing that creeps up on us, often without us noticing. It may grab your attention every now and then – increasing costs of gasoline, or prescriptions, for example. But what can inflation do to a retirement portfolio? The answer is, long term, it can make a comfortable lifestyle very difficult to afford because the costs of goods and services has increased while your income has not. As an example, that same $500,000 retirement savings today that provides $25,000 annually has the buying power in 15 years (at 3% inflation) of only $16,046. Ask yourself if you can comfortably live on $9,000 less than you might have planned. If the answer is no, you may have some more planning to do. 
 
2. Not knowing how long the money should realistically last
To read more about this and the other seven tips for retirement, click on the box below to receive your FREE copy of the report. 
 
Material discussed here is meant for general illustration and/or informational purposes only, please note that individual situations can vary. Therefore, the information should be relied upon when coordinated with individual professional advice.
 

 

 

 
 
 
Read articles written by Michelle Ash, CFP®, CDFATM
 
 
 
 
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