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TFP #013: A Tale Of Two Strategies

Welcome to the 13th edition of the Tech Financial Planning (TFP) Newsletter.

If you joined Procore in ~2016, received 100k stock options, and exercised them all, you would take home $3.77M after taxes if you sold everything today.

But if you waited until Procore was public to exercise and sell (for argument’s sake, let's also say today) you’d take home $2.87M – a difference of $896,680.

Let’s break it down.

In this newsletter we will break down why you might consider exercising your options before an exit, the potential tax savings, and the risks

TFP #005: The #1 Mistake With Stock Options

I see it too often, and you can avoid it.

The number one mistake I’m seeing people make with their stock options is

Exercising all at once

In this newsletter we will cover the consequences of exercising all at once, how to avoid it, and some tips on better managing your stock options.

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!