Experience a Better Career Transition with Samalin Wealth
As you embrace new responsibilities and fit into the new workspace, Samalin Wealth can assist you with various financial aspects:
- Clarifying new financial goals and crafting curated plans to reach them
- Assessing present and future financial risks to safeguard your assets
- Advising on gifting strategies and other withdrawal necessities
- Analyzing lifestyle and financial dynamics for both your immediate and extended family, ensuring a comprehensive approach to financial planning
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Key Considerations When Starting a New Job
A career transition can come with a number of changes that could impact your financial situation. Take our assessment and receive a real-time preliminary analysis of your job transition.
Make the Right Money Moves in Your New Role
Estimate Impact
Manage Change
Create More Value
Changing jobs entails more than just undertaking new responsibilities or transitioning to a higher position at a new company. It also means that you are likely expecting new income, deciding whether or not to roll over your 401(k) plan, determining new financial goals, and more. With a career transition, you need a new strategy to help you save more, invest better, and retire wealthier.
At Samalin Wealth, our experts can help you determine the best strategy for your career transition. We have an in-depth understanding of the opportunities and challenges that a career transition presents and will create a comprehensive financial plan to take care of all the moving parts during your transition.
It's time to realign.
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Create a New Budget
When you face a career transition, one of your first steps should be calculating your new income and cash flow needs. Crafting a budget will pinpoint this figure precisely, empowering you to construct a more refined and effective plan.
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Build Your "Rainy Day" Fund
Think of your "rainy day" fund as your financial safety net, ready to catch you if you stumble upon unexpected financial challenges. When planning for a career transition, beefing up this safety net should be at the top of your financial to-do list.
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Amplify Your Portfolio
As your income grows, consider diversifying your portfolio and ramping up periodic contributions toward higher-yield opportunities (as your risk preference allows). This strategic move not only strengthens your investment portfolio but also positions you for greater long-term financial growth and stability.
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Grow Your Nest Eggs
As you enhance your lifestyle post-career transition, it's vital to bolster your retirement nest egg to sustain a desired standard of living during your golden years. Elevating contributions to your retirement savings is paramount, ensuring you're well-prepared to enjoy the fruits of your labor well into retirement.
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Get an Expert Review
Navigating a career transition impacts your entire financial landscape, making it crucial to have an expert financial manager review your plans. With a fiduciary expert at your side, you'll ensure all bases are covered, setting yourself up for a smooth transition and financial stability.
Use Our Approach to Elevate Your New Potential
Reassess Your Financial Position
With a new job comes a new income. Whether it’s a higher-paying job or a new business, we help you reassess your financial position and find the right investment strategy.
Establish new goals
Samalin Wealth will help you set new financial goals aligned with your career transition to get the most out of the bump in your income. Start funding new life goals that you could not before.
navigate tax changes
A job transition may also be accompanied by a sizeable bonus, increased salary, and changes in tax liabilities. Samalin Wealth’s experts will help you minimize taxes to enjoy the better part of your new income.
manage the change
A career transition can affect your finances in many ways – more taxes, more investment opportunities, new licensing requirements, and so on. Samalin Wealth’s financial professionals are adept at tackling your evolving financial needs.
