Investing Insights

Maximize the Financial Benefits of a New Job - Summer 2014

If you are contemplating changing jobs in 2014, there are many factors you should consider when making the transition. Maximizing the following financial benefits can help lead to a healthier, more secure financial future for you and your family.

Retirement

Find out when you are eligible to enroll in any retirement plans to ensure you are maximizing your time and contributions. Always confirm if your new employer matches 401(k), IRA or other retirement contributions. Employer contribution is a valuable benefit that you should always take advantage of to help boost your retirement savings. Also, ask about any internal retirement or pension plans that are available.

Direct Deposit

Direct deposit allows employers to electronically pay employees, send expense reimbursements and award bonuses directly to an employee’s bank account. Direct deposit offers many advantages including eliminating paper checks that can be lost or stolen, speedier posting to an employee’s checking account and reducing wait time in lines at the ATM or bank to deposit checks. Set-up direct deposit into your First National Checking Account with no monthly fees, no minimum balance and no strings attached.

Stock Options

Inquire about employee stock purchase plans if your employer is a publicly-owned company. This is a simple, convenient way to purchase stocks at a discounted price. Employees contribute to the plan with an automatic payroll deduction, and, at the end of the offering period, your employer will purchase stocks with the funds.

Tuition Reimbursement

An important financial benefit to take advantage of, if offered by your employer, is tuition reimbursement or assistance. If you are interested in continuing your education, this is a great benefit that can help lift the financial burden of getting an advanced degree. Be sure to ask about requirements and eligible programs to ensure the educational options are benefiting both you and your employer.

For more information and guidance on financial planning and investments, contact First National Investment and Planning Services today.