Understanding your needs
Your key role at your organization, and the long working hours that go with it, may leave you little time to focus and strategize on your own future. It may be the increased responsibility and resulting compensation you've recently received. Perhaps it's a personal life change that's happened. Or maybe, it's a recognition that compensation structures and tax laws have become increasingly complex and you need expert advice. Whatever the reason, your business intuition tells you that now is the time to actively manage your personal finances in addition to your business concerns.
Developing your plan
These questions can help you start to think through what you need to build a solid financial plan.
- How soon do you plan to retire and what are your goals?
- How much wealth do you want/need to retire?
- How do you maximize value from deferred and equity-based compensation?
- How do you mitigate risks from concentrated employer stock positions?
- Do you understand your compensation structure? Salary, bonus and equity based compensation.
- Are you maximizing your available Executive benefits?
- Do you understand your various long-term incentives? Vesting, elections, timing and taxation?
- Do you understand the risks of participating in any nonqualified deferred compensation plans?
- Have you taken advantage of ways to increase your retirement benefits?
Working together for a solid financial future
Key Private Bank works with you to help make your money work for you. Our services and solutions address a range of compensation structures and an array of planning needs to help you plan and strategize for your future. We're committed to helping you bring your retirement - and your family's financial well-being - much closer into view.