What to Do With Your Money When You Change Jobs
About this episode
The episode discusses financial considerations and potential pitfalls when changing jobs, including 401(k) contributions and health insurance gaps.
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 jobs What 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…
People in this episode
Host: Eric Roberge
Guest: Kali
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