Newsletter
Read Time: 7 minutes
Welcome to the 50th edition of the Tech Financial Planning (TFP) newsletter.
There are 2 big changes to the Procore 401k plan in 2024.
A $5,000 cap on the Procore match
Adding an after-tax contribution option to the 401k plan, with In-Plan conversion (if this sounds like gibberish, that’s to be expected)
Let’s dive into each and what this might mean for you.
Read Time: 4 minutes
Welcome to the 40th edition of the Tech Financial Planning (TFP) newsletter.
If you work at a public tech company, RSUs can represent a significant portion of your total compensation
While you can’t control the timing of when your RSUs are taxed, there are ways to use your RSUs to lower your total tax bill.
Either now or in the future.
In this newsletter we’ll break down 5 possible ways to use your RSUs to reduce taxes, run through an example, and importantly, consider when you don’t want to use these strategies.
Read Time: 3 minutes
Welcome to the 29th edition of the Tech Financial Planning (TFP) newsletter.
Over the past 3 years I’ve met with hundreds of tech professionals, and I’ve seen 6 common financial planning mistakes.
These can cost thousands or even millions of dollars.
In this newsletter, we will explore 6 common financial planning mistakes tech professionals make and some possible ways to avoid them.
Read Time: 4 minutes
Welcome to the 23rd edition of the Tech Financial Planning (TFP) newsletter.
The average person changes jobs 12 times in their lifetime.
This could mean 12 different retirement plans in 12 different places
In this newsletter we will discuss your options when you leave a job, the issue with 401k rollovers, and an awesome tool that can make it easier
Welcome to the 15th edition of the Tech Financial Planning (TFP) newsletter.
In this week’s issue, I want to share my 2 favorite ways for tech professionals to get “free” money from their company.
No, this isn’t anything crazy, sketchy, or illegal.
In this newsletter, we’ll break down 401k matching and ESPP programs, and why these can be two of the biggest no-brainers for tech professionals.
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.
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.
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!
We will break this out into 3 sections
Making sense of your Procore Equity
Understanding your 401(k) plan at Procore
Maximizing other benefits
Let’s get started!
