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Sound Financial Group - Bothell, Washington


SFB096 Why We Should Talk, Part 3 - I Just Went Through a Job Change

| June 11, 2018
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Episode Summary

In part three of this 10 part series, Why We Should Talk, Paul and Cory are talking about  the different challenges people run into when they leave one job to start another.  What should you do with your 401(k)?  What happens with your benefits?  What if you have a change in job location?  How do you manage the money from your pay increase?  Paul and Cory have the answers to all of these questions. 

What Was Covered

  • 03:41 - Cory shares a personal anecdote of managing health benefits through COBRA after leaving an employer
  • 04:56 - What Headhunters should be helping their clients with during a job transition
  • 06:23 - What you can do with your 401(k) plan after you leave your employer
  • 07:51 - Disability insurance
  • 08:13 - The group coverage your employer might be paying for
  • 09:42 - Paul shares a story about a client whose employer is paying $100/month on his group coverage of what was supposed to be $7,000/month of benefits
  • 11:51 - Managing the money from your new pay increase
  • 14:49 - A change of job location


"We recommend often times that clients control some portion of their disability insurance."

"If you have group coverage where your employer is kind enough to make it a part of your benefits package and they’re paying for it, well, that’s going to be taxable."

"All of the fundamental patterns that you’ve been in will become different.  Your daily routine, you might leave at a different time now, you might be commuting in a different direction."

"We don’t just need to go replace the habit we had in place before, it may not serve where we’re going."  

"Job change, pay increases, always a reason to sit down and get some advice and get some thinking and all the more reason why spouses should get on the same page."

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