In this episode of Techie Personal Finance Bootcamp, we explore the real value of bonuses, raises, and stock options with a focus on how taxes can greatly diminish their apparent worth. We delve into examples to reveal the true post-tax income you can expect. Additionally, we highlight common mistakes like lifestyle inflation and poor financial planning that can lead to overspending and emphasize the importance of intentional money management and the impact of taxation on financial decisions.

Here is a link to access the Real Value of Raise Calculator. https://docs.google.com/spreadsheets/d/1_5oU96ZLYounxhn-SKBCj6YWcU_HfyaxUxgSDzH3a4s/edit?usp=sharing

This episode delves into the financial issues tech professionals face, focusing on the challenge of managing credit card debt despite high incomes.

It discusses how lifestyle creep, unexpected expenses, and high interest rates lead to debt accumulation.

Emphasizing the importance of financial management, the danger of relying on future financial expectations and underscores the consequences of unchecked debt, such as stress and potential evictions. It provides practical strategies like using budgeting tools, setting savings plans, and adopting the debt snowball approach.

Furthermore, it highlights the need for minimizing unnecessary expenses and leveraging all financial resources to expedite debt repayment, ultimately aiming to regain financial control and achieve long-term goals.

Sean Page, a senior technical recruiter at Propel, shares his non-traditional career path from biology major to public health professional to tech recruiter. He emphasizes the increasing competitiveness in the job market, the importance of understanding DEI (diversity, equity, and inclusion) in hiring processes, and the need for clear communication in salary negotiations. Sean highlights the differences between working in non-profit and tech sectors, particularly regarding timelines and meeting cultures. He stresses the role of recruiters as important cross-sectional contributors to business operations and advocates for focusing on senior-level hires for greater DEI impact. Sean offers tips for job seekers on standing out in interviews, leveraging data, and maintaining mental health during prolonged job searches in a challenging market.

Sean's social media links: https://x.com/SeanPageTalent

Non-Profit Sponsor Links:

https://www.techbychoice.org/

https://www.underdogdevs.org/

In this episode of Techie Personal Finance Bootcamp, host Lucas Casarez, CFP® discusses the process of transitioning out of a tech career, addressing the importance of understanding projected salaries, the impact of lifestyle and expenses on decision-making, and the necessity of financial planning.

He emphasizes the need for thoughtful consideration and planning before making any drastic career changes, suggesting exploring additional opportunities within tech and calculating the necessary income for a sustainable transition. He also provides advice on managing resources, reducing expenses, and planning for a successful career change. The episode aims to help listeners design and build the life they want through informed and strategic decisions.

• What Is The Difference Between A Private And Public Company
• The Most Common Types Of Employer Stock Plans
• How Your Employer Stock Is Taxed
• Employer Stock Strategies
• Is Your Charitable Giving Is Tax Deductible
• What Is A Donor Advised Fund
• Benefits Of Donating Stock

In this episode, you'll learn the answer to the following questions about how your retirement accounts impact your taxes, as well as, how to correctly make Backdoor ROTH contributions.

• What Is A Traditional Retirement Account
• What Is A ROTH Retirement Account
• Do I Make Too Much To Contribute To Certain Retirement Accounts
• What Is A Backdoor ROTH
• Can I Make a Mega Backdoor ROTH Contribution

https://www.techbychoice.org/donate

https://www.levelupfinancialplanning.com/getting-those-big-tech-checks-with-tech-by-choice/

https://the-collab-lab.codes/

https://www.levelupfinancialplanning.com/a-co-founders-journey-to-starting-the-collab-lab/

https://www.levelupfinancialplanning.com/wp-content/uploads/2023/01/Important-Numbers-2023-1.pdf

https://www.underdogdevs.org/
https://www.levelupfinancialplanning.com/creating-a-non-profit-to-help-underdog-devs/

Taxes can be complex and confusing, but it's important to understand them so you can pay the correct amount and take advantage of all the deductions and credits you're eligible for. In this episode, we'll cover everything you need to know about your taxes, from the basics to more advanced strategies.

Topics covered:

• What are the different types of taxes?
• How are taxes calculated?
• What are deductions and credits?
• What is the standard deduction?
• What are itemized deductions?
• What are popular tax credits?
• What are income phaseouts?
• How to calculate your marginal and effective tax rates
• How are bonuses and stock options taxed?

https://www.techbychoice.org/donate

https://www.levelupfinancialplanning.com/getting-those-big-tech-checks-with-tech-by-choice/

https://the-collab-lab.codes/

https://www.levelupfinancialplanning.com/a-co-founders-journey-to-starting-the-collab-lab/

https://www.levelupfinancialplanning.com/wp-content/uploads/2023/01/Important-Numbers-2023-1.pdf

In this episode, we interview Andrew Hedges, a career changer, startup co-founder, and non-profit co-founder. We talk about his journey from traditional employment to tech, the mission of his startup Assistiv Labs, the most misunderstood thing about accessibility, and advice for founders and co-founders. We also discuss The Collab Lab, a non-profit he co-founded, and the benefits of teaming up with others.

Here are some key questions we will answer in the episode:

• What was the catalyst for your career change into tech?
• What gave you the confidence to leave traditional employment to start your own company?
• What is the mission of Assistiv Labs and why is accessibility online and with software so important?
• What would you say is the most misunderstood thing about accessibility?
• What advice would you give to founders and co-founders based on what you've learned so far?
• What is The Collab Lab and what pushed you to create such an amazing non-profit?
• What has been the greatest challenge your team has run into since launching The Collab Lab?
• What has been your biggest win as a non-profit?
• What is the greatest benefit you see from teaming up with others?
• How can people listening help The Collab Lab?

Join us for this inspiring conversation with a passionate entrepreneur and non-profit leader!

https://the-collab-lab.codes
https://assistivlabs.com

https://mailchi.mp/081b79193143/understand-your-taxes-end-of-year-tax-strategies