Optimize Your Wealth During a Job Change: Essential Financial Steps for High Earners🪜

☕ Good morning!

Navigating a job change can be thrilling—and a bit overwhelming. With the right strategies, however, you can turn this transition into a major wealth-building opportunity.

Below is a step-by-step checklist to help you optimize your finances and set yourself up for long-term success in your new role.

Plus, we’re hosting a free 30-minute training to dive even deeper into these tactics. Details are at the end!

Financial Checklist for Your Next Job Change

A job change isn’t just a fresh start for your career—it’s also a prime time to rethink your finances. Here are eight essential steps to make sure your money is working as hard as you are:

1. Understand Your Compensation Package
   Before you dive into the new role, break down every part of your compensation package—salary, commission, bonuses, and equity. Look for performance targets and stock options. Understanding how each element contributes to your financial goals can give you a big-picture perspective and help you maximize your earnings.

2. Optimize Your Tax Withholdings
   Nobody wants to give the IRS an interest-free loan. Check your tax withholdings using the IRS withholding calculator to avoid overpaying or underpaying taxes. This is particularly useful if you’re expecting bonuses, commissions, or severance—small adjustments can help you keep more in your pocket now and prevent a large tax bill later.

3. Create a Tax-Efficient Plan
   When you change jobs, you might receive unusual income spikes or gaps—like a sign-on bonus or a period of no income. These moments offer unique tax planning opportunities. From maximizing tax-deferred accounts to considering Roth conversions, a tailored tax strategy can help you keep more of what you earn, even during unpredictable financial years.

4. Reassess Your Monthly Budget
   A new role often means different income and expenses. Take this opportunity to review your budget and adjust your spending or saving targets. An up-to-date budget helps you track your goals—whether it’s saving for a home, funding an emergency fund, or setting aside extra for retirement.

5. Update Retirement Plans: Old Job to New Job
   Avoid leaving your old 401(k) in limbo! Options like rolling over into your new employer’s 401(k) or an IRA can streamline your retirement savings, provide better investment choices, and potentially reduce fees. Exploring a Roth 401(k) with your new employer, if available, can also diversify your tax strategy and increase your future savings.

6. Make the Most of Your Company Stock
   For professionals receiving stock options, it’s critical to have a solid strategy for both your old and new company shares. Decide if it’s time to diversify your holdings to reduce risk or leverage timing tactics to minimize tax impacts. Selling specific shares, using methods like the “specific identification method,” can also optimize taxes and protect your portfolio.

7. Review Healthcare Coverage
   Health insurance is a significant part of any job change. Take time to compare new premiums, co-pays, deductibles, and provider networks to find the best option for your health and budget. If your new plan includes a Health Savings Account (HSA), this can be a powerful, tax-advantaged tool for long-term medical and retirement planning.

8. Integrate Your Job Change into Your Financial Plan
   Finally, make sure your overall financial blueprint reflects your new situation. Updating your financial plan with these changes—whether income adjustments, new retirement options, or healthcare coverage—helps ensure each decision contributes to your long-term goals, from homeownership to education funding and retirement.

Free 30-Minute Training: How to Optimize Wealth Through a Job Change

For those looking to make the most of a job transition, Tailored Wealth is offering a free 30-minute training session, available live daily and on demand.

What You’ll Learn:

• Maximize Compensation & Benefits: Get a full breakdown of salary, stock, and healthcare so you know what you’re getting—and how to use it.

• Optimize Tax Efficiency: Learn practical tips to adjust withholdings and strategize for tax savings based on your unique situation.

• Integrate Your Job Change into a Comprehensive Wealth Plan: Discover how to weave all elements of your job change—budget adjustments, retirement planning, and benefits—into a cohesive, long-term wealth strategy.

➡️ Register for the training here and get started on a plan to turn your next job change into a powerful step toward financial independence!

Pro tip: Join the training with a list of your current financial questions, and we’ll make sure you’re set to maximize every opportunity your new role brings. We look forward to helping you take control of your wealth journey!

Until next week…..

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

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