Blog

Quit Creepin!

Quit Creepin!

Erik Goodge, CFP® | Jul 12, 2022

Have you ever wondered how people like Michael Jackson, Fifty Cent, and Burt Reynolds end up bankrupt? Here’s how: It’s called lifestyle creep. Lifestyle creep refers to our growing spending habits as we earn more money. As we earn fatter paychecks, we also start to buy nicer things, eat out at nicer places, drink fancier drinks, vacation in pricier resorts, etc.

What are Incentive Stock Options?

What are Incentive Stock Options?

Erik Goodge, CFP® | Jun 11, 2021

Incentive stock options are a type of equity compensation arrangement where the employer grants the employee the right to purchase company shares in the future at a predetermined price. Most incentive stock options vest over a 4 year period.

What are Nonqualified Stock Options?

What are Nonqualified Stock Options?

Erik Goodge, CFP® | Jul 11, 2022

Nonqualified stock options are a common feature of compensation packages. Just like incentive stock options, they give you the right to purchase a set number company shares at a set price and at some point in the future.

How to Become a Millionaire

How to Become a Millionaire

Erik Goodge, CFP® | Jul 12, 2022

Do you know exactly how much money you want to have before you retire? Do you have a plan to get that money? My guess is probably not. But here’s why you should.

An Intro to Your Restricted Stock Units (RSUs)

An Intro to Your Restricted Stock Units (RSUs)

Eric Goodge | Mar 17, 2021

Companies use restricted stock units or RSUs in a similar way to incentive stock options (ISOs) or nonqualified stock options (NSOs). But RSUs are simpler and more straightforward than ISOs or NSOs.

Ask Your Boss About a Roth 401k

Ask Your Boss About a Roth 401k

Erik Goodge, CFP® | Jul 12, 2022

If your company offers a 401k, you’re in luck because 401k’s are one of the best tools at your disposal to retire comfortably. What many people don’t realize however is that you may have options in your 401k that you didn’t know existed. For example, many people don’t know that Roth 401k’s exist and that they may be an option in their own 401k. But this knowledge can be very powerful and may be the difference between thousands of dollars worth in taxes.