Whether you work at the Boeing headquarters in Arlington, VA, or another Boeing Company location worldwide, you can benefit from working with a financial professional who understands your compensation package and benefits. These professionals help you maximize your wealth and achieve financial success.
They help you take advantage of pretax benefits like retirement savings accounts (401(k)s and 403(b)s), IRAs, and Health Savings Accounts. These investments reduce your exposure to alternative minimum tax (AMT) and allow you to take advantage of compound interest, which can make a big difference in your net worth over time. They can also defer income taxes until you withdraw the money, saving you a lot in federal and state income taxes.
Investing in equity compensation as a Boeing employee requires careful consideration to ensure you don’t lose too much when your company’s stock value decreases. It’s also important to understand whether you should take your pension (PVP or BCERP) as a lump sum or monthly payout.
It is a significant endeavor when you start thinking about retirement. There are student loans, competitive job markets, and piles of bills to pay that require immediate attention.
Fortunately, a financial planner can help you get the most out of your Boeing employee benefits and compensation package.
One of the most incredible benefits a Boeing company offers is a 401(k) match, which doubles your contributions (up to a certain percentage of your salary). However, this is only meaningful if you contribute enough to exploit it fully.
If you’re a Boeing employee considering taking your retirement package early, it’s essential to understand the long-term implications of this decision. A financial plan can help you calculate whether a lump sum or monthly payout will be better for your situation.
Boeing employees have an incredible compensation package with numerous benefits, including health care and retirement plans. These consist of flexible spending accounts and 401(k) match plans, which let you pay for medical expenses or child/elder care before taxes. You can also access equity compensation, sometimes called stock options or restricted shares. These can be a great way to boost your retirement savings.
Long-Term Care Insurance
Boeing offers long-term care insurance to employees, retirees, and family members. The insurance covers various needs, including home health aides and nursing home stays. As these costs continue to rise, it may be beneficial for employees to consider adding inflation protection to their policy.
A financial planner can help a Boeing employee plan for retirement and maximize their current benefits package. From determining whether to take a lump sum or monthly pension payout to explore options for health savings accounts and equity compensation (also known as stock compensation), a financial advisor can significantly impact a client’s retirement planning process.
Flexible Spending Accounts
The perks available to Boeing employees include health care FSAs, which can be used to pay for medical expenses. Employees must use or lose the money allocated within the plan year.
The company also offers equity compensation to select employees. These grants give employees a stake in the company and can boost their financial security if the stock rises.