The Equity Compensation Guidebook

A frequent topic I hear from high performing sales professionals is how to achieve a better work-life balance. I’m sure a lot of you have, like me, spent many years working 14 hours a day spending at least one day of the weekend at the office. At some point, you begin to question what’s important. Personally, it took me a long time to achieve a better balance and I’ve found it’s something you have to continuously work at. In today’s episode, I’ll be talking about balancing the four types of wealth: financial, social, time freedom, and physical. Don’t miss it, you never know, you might just learn something. 

• What are the four types of wealth? [1:02]
• Wealthy type #1 [1:58]
• What income makes Americans happiest? [2:24]
• Wealth type #2 [2:41]
• What makes people as happy as doubling their income? [3:04]
• Wealth type #3 [3:36]
• Wealth type #4 [4:17]
• The sales tip section [5:30]
• This week’s FLASHBACK [6:46]

• Linkedin my favorite platform
• Great band, lousy concert Depeche Mode

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One of my favorite retirement savings vehicles for high-income earners is the Roth 401k. I love it because there are a handful of benefits that perfectly suit the situation most high-income earners are in. This episode is devoted to breaking down the beneficial aspects of the Roth 401k, helping you understand the situations where it might be a benefit to you personally, and looking at the things you need to consider to make your decision.

• Why the Roth 401K is such a high-value investing tool [0:14]
• Should you participate in the Roth 401K through work? Here’s how [2:47]
• The various things you’ll need to consider when making this decision [5:01]
• The big issues when considering distributions that come out without taxes [7:42]
• The sales tip of the episode: [10:25]
• My flashback: The INXS concert in Richfield, OH [11:08]

• The Roth 401K (definition from Investopedia)
• BOOK: Power Questions
• BAND: INXS

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This episode zeros in on tax savings for those who have both high and fluctuating incomes — which likely describes you if you are a sales professional. Those are exactly the people my financial advisement firm caters to, so I’m hopeful that I’ll have some insights that will be of use to you on this episode.

I’m basing my comments in this episode off an article written by Micahel Kitces, a leading blogger in the financial industry. I'm referencing his work because the way he describes the investment vehicles you can use for maximum tax savings is exactly how I view the issue. So, stick around and learn how you can make the best use of that high income you generate.

 You will want to hear this episode if you are interested in...

• My tribute to the post by Michael Kitces (see below for a link) [0:14]
• Looking at my pyramid of to discover the best options for you [1:26]
• The back door Roth account [7:38]
• The mega-back-door ROTH [10:20]
• Today’s sales tip: Modify your question when someone answered the phone [13:18]

• Michael’s blog post I referred to
• Gen X Trivia: Back To The Future

• https://forwardthinkingwm.com 
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There are many financial advice podcasts out there, so why should you listen to this one? I don’t believe everyone SHOULD listen to this podcast. Why? Because it’s aimed at a specific audience, those who make their living as sales professionals. If that’s not you, you may find greater benefit from a different podcast. 

But if that IS you, this show is specifically FOR You. Listen to find out why I’ve decided to create a financial podcast for sales professionals and get a sample of the type of content I’ll be providing weekly.

• Why sales professionals need financial tips and advice [0:24]
• It’s not what you make, it’s what you keep (minimizing taxes) [1:28]
• The catch-up: your opportunity to add more to your qualified accounts [2:35]
• Good sales are correlated to good questions [6:43]
• My Gen X focus today - Guns N Roses album, “Appetite for Destruction” [7:46]

• The IRS topic page for Catch-Up Contributions
• Guns N Roses album, “Appetite for Destruction”

• https://forwardthinkingwm.com 
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