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Satellite Beach, FL, April 12, 2023 – FirstWave Financial announces a new designation for Financial Planning Associate, Maria Sulick, as a Certified Financial Planner™ (CFP®) at FirstWave Financial, a Satellite Beach-based wealth management firm.
“There are many and varied topics and feelings to deal with when we lose a spouse or partner–emotional, spiritual, social, and financial to name a few. The financial can be overwhelming and often complicates or interrupts the process of grieving and working through these other important issues.”
Have you ever considered what would happen to your business if you were suddenly not there? Discover a different and more successful approach to business transition.
Is your 401(k) plan being used as a primary tool to foster employee engagement? If not, then it should be! More engaged employees lead to higher employee retention, better customer service, and overall positive operational health. All of these add directly to your bottom line.
It is virtually impossible to ignore all the negative financial propaganda. It is everywhere. So what are you to do?
Business owners, and other Type A leaders, tend to accumulate multiple areas of responsibility leading to high levels of activity. We are busy! I think this springs from our focus on growth, and vision of sharing our solutions and passions with more and more people.
401(k) plans are rather ubiquitous today. If your business doesn’t offer one, it could be held against you in the court of employee recruitment and retention. Even if you do have one, that very likely could be taken for granted.
As a company, by creating smart savers, your employees will better understand how they can use their 401(k) plan to help bridge the gap from what they have now, to what they will need to have to live the life they desire in retirement.
But how will you know if these features are having a positive effect on the retirement lives of your employees?
I wonder how many employees of companies that make matching contributions into their 401(k) plan know they could immediately double their contribution and savings, before it is even invested. Sound too good to be true? It’s not. In Part 4 of my book, The Brighter Future 401(k), titled Creating Smart Savers, I describe in detail exactly how this occurs.
The 401(k) has become America’s largest casino. There are over 86 million 401(k) participants as I write this. Many plans have 30 or more investment options. While many employers may feel choice is a good thing, in the end, they’re just confusing to 85% of your employees. Left to their own devices, they either choose not to invest because they’re confused, or worse, they make the wrong investment decisions based on flaws in how they think about investing.
Do you know what factor has been shown to be key in growing profits up to three times faster than competitors? Engaged employees! Study after study has shown organizations that consist of engaged employees are easier to run, make more money, suffer less waste and are happier places to work.
This is the story of two hypothetical corporate executives, “John” and “Michelle.” Both work very hard for highly profitable companies. They hold positions where their personal economic futures are directly connected to the future economic success of the companies they direct by traditional golden handcuffs.
Corporate leaders often feel like they live in a fishbowl. Almost everything they do and say is subject to the prying eyes of onlookers. And for the leaders of publicly traded companies, this intrusion into their private lives is taken to a whole new level.
Do you spend as much time as you would like on what is most important to you? For most people, the answer to this question is no. There are so many things vying for our attention that we often go from one to the other based on which one is screaming the loudest at the time without really thinking about what we are perhaps ignoring.
Stock options amplify wealth creation because of the leverage they utilize. They allow the option holder to benefit by the increasing share value on all the shares of stock covered by the option for little or no cost, at least until the option is exercised.
Good news! You are a well-paid corporate executive with the opportunity to potentially double or triple your annual income through the receipt of shares of company stock as part of your total compensation package. Since your decisions and actions have a direct impact on the increasing value of your company’s stock, you are excited to have your financial future so directly connected to its promising future.
As you review the company benefits available to you, is a SERP (Supplemental Executive Retirement Plan) on that list? When should you consider taking advantage of this savings option and how can it best serve you?
Like a 401(k) plan, a SERP can be composed of company and/or participant contributions. What’s the Difference?
Golden Handcuffs are handsome rewards (the gold) with constraints (the handcuffs). Business leaders love and hate them. Your heart can grow much fonder of them if you leverage them to contribute to a bright financial future through proper planning, proactive strategies and purposeful execution.
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P | 321.773.7773
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