Equity Compensation

TFP #054: When Should You Hire A Financial Planner?

Read Time: 4 minutes

Welcome to the 54th edition of the Tech Financial Planning (TFP) newsletter.

When should you hire a financial planner?

This was the title of a recent Ben Carlson blog.

It’s a question I get asked a fair amount, especially since we work with a predominantly younger group of clients (at least compared to the wealth management industry at large). 

Ben lists 7 of the biggest (but certainly not only) reasons you should hire a financial advisor.

I really liked his list so I decided to put a spin on it with 5 reasons people have hired us (and again, certainly not the only reasons).

Here they are.

TFP #049: How We Work With Clients

Read Time: 2 Minutes

Welcome to the 49th edition of the Tech Financial Planning (TFP) newsletter.

My typical client looks like this:

  • Tech employee with equity comp

  • Household income of $350k+ (potentially more once you factor in equity comp)

  • Good chance current / former Procore

  • Usually 1-2 kids (or planning on it) and probably a dog

  • High cost of living

  • Looking for someone to help them navigate all the complex planning that comes up.

Here are the 6 areas we cover for clients.

TFP #039: 5 Money Myths

Read Time: 5 minutes

Welcome to the 39th edition of the Tech Financial Planning (TFP) newsletter.

Over the past few years of working with tech professionals, I’ve discovered a number of myths and half-truths that people believe.

And more importantly, they are driving people’s behavior around money.

In this newsletter, we’ll break down 5 common myths I have heard and why they aren’t true.

TFP #037: Covered Calls - A Case Study

Read Time: 4 minutes

Welcome to the 37th edition of the Tech Financial Planning (TFP) newsletter

If you have a big bunch of company stock, figuring out what to do with it can be paralyzing

While the textbook answer is to sell most (all) and diversify, that is easier said than done.

In this newsletter, we’ll break down a case study of how we are using covered calls to diversify a client’s holdings while generating thousands of dollars in income

TFP #016: A 44% Return For Procore Employees

Welcome to the 16th edition of the Tech Financial Planning (TFP) newsletter.

I wrote last week about my two favorite ways for tech employees to get free money.

One of them is your company ESPP, and this week is a great case study of how ESPP’s can work in your favor.

Procore employee’s just got a whopping 44.1% return on their most recent ESPP purchase

Let’s dive in

TFP #014: A Year End "Hack" To Diversify Your Company Stock

Welcome to the 14th edition of the Tech Financial Planning (TFP) newsletter.

When you have a lot of company stock, you also usually have significant gains.

Which means if you sell, you will likely pay a lot in capital gains.

But done correctly, you can “hack” your way to diversification and little to no taxes.

In this newsletter, we will break down why you might consider selling more company stock by the end of the year and how to not get killed on taxes.

TFP #009: Is Your Company Stock The Next Titanic?

Welcome to the 9th edition of the Tech Financial Planning (TFP) Newsletter

So you have a big chunk of money in your company stock.

Through hard work, good fortune, and some solid equity awards, you’ve built up a nice nest egg.

You’ve done well for yourself, so why should you sell (hint - the Titanic was supposed to be unsinkable)?

In this newsletter we will go over the real risk of concentrated positions, how to think about holding one, and some thoughts on selling.

TFP #008: Planning For A Recession

Welcome to the 8th edition of the Tech Financial Planning (TFP) Newsletter.

It goes without saying, this hasn’t been a great year for the stock market.

Interest rates are up, investors are scared, and no one is really sure what the next few months hold.

Have we hit the bottom? Are we in a recession? What should we be doing?

In this newsletter we’ll cover why down markets are some of the best times to invest, some tangible steps you can take, and what not to do.

TFP #006: Planning For Double-Trigger RSUs

Welcome to the 6th edition of the Tech Financial Planning (TFP) Newsletter.

I was talking with someone on Linkedin and they were asking about getting RSUs at a private company.

How the heck does that work exactly?

Hello double-trigger RSUs

In this newsletter we will go over what double-trigger RSUs are, how they differ from “traditional” RSUs, and some important considerations.

TFP #003: Diamond Hands or Diversify?

So you just had some RSUs vest.

Should you sell and diversify or hold onto the stock (diamond hands - to the moon!)?

Enter the great financial planning mantra of “It depends.”

In this article we will go over some important considerations for your RSUs, some reasons you might diversify, and some reasons you might hold.

TFP #002: 7 Equity Comp Lessons

I had the chance to interview a friend who’s been in the tech industry for almost 10 years. He started with a couple smaller companies and then got hired by Uber, where he was with them through their IPO. From there, he joined a startup which ultimately didn’t work out, and now is at Netflix.

We chatted through his experience navigating the equity compensation world, particularly RSUs, and the learning lessons he gained along the way. As you will see, it can build great wealth, but it doesn't come with instructions.

Here are 7 of his top lessons from his time in tech so far.

Procore Benefits Guide

My Experience Working With Procore Employees

Before I became a financial advisor and helped start Coastal Capital Advisors, I actually worked at Procore for 4 years (employee #450!). I saw the company go from a single product, primarily Carp-only company to the juggernaut it is today.

Through my own experience and working with many current and former Procorians, we have a wealth of experience in working with clients at Procore. We’ve helped Procore employees make decisions around their Procore equity, maximize their 401k, and optimize their cash flow. And we've designed financial plans that are tailor made for Procore employees to achieve their dreams.

Our Role In Your Financial Life

Think of us as a guide. Or sherpa. That’s more fun.

A big part of our job is helping you understand the wide-ranging benefits Procore offers. More importantly, how each benefit connects to the rest of your financial life.

We recognize each of our clients (an you) has their own priorities and agenda. For some, that may be owning real estate. For others, that may be retiring in Costa Rica in 10 years.

Based on your dreams, we want to make sure you make the most of your benefits so you can get there.

A Quick Note

This isn’t going to cover every in and out of your Procore equity, every strategy, etc. That would be a full length novel, and it still wouldn’t cover everything.

This is intended to be an overview. A starting point if you will. A guide to many of the different benefits Procore offers.

But also to illustrate how we’ve helped clients navigate through the many benefits Procore offers.

My goal is that this helps you avoid some common pitfalls, sparks a few questions, and gives you more insight and clarity.

If you are the DIY type, I hope this inspires you to do some more research and guides more productive planning.

If this all seems overwhelming and you feel like you need some help, I’d love to chat!

An overview of the Procore Benefits, and how can we help Procore employees?

We will break this out into 3 sections

  1. Making sense of your Procore Equity

  2. Understanding your 401(k) plan at Procore

  3. Maximizing other benefits

Let’s get started!