Older millennials are quickly approaching the sandwich generation phase: taking on greater responsibility for older relatives while also caring for young children. As baby boomers begin to retire, some will need the support of their adult children. In some cases, it may make sense to consider claiming your parent as a dependent on your taxes. There are a lot of rules about this, and … [Read more...] about How to Claim Your Parent as a Dependent on Your Taxes
Taxes
The Gen Y Planning Guide to Company Stock: What Are Restricted Stock Units (RSUs)?
This is the fourth post in a series on employer stock programs. Check out the previous posts on Incentive Stock Options, Non-Qualified Stock Options, and Employee Stock Purchase Plans. Like other forms of company stock, Restricted Stock Units, or RSUs, are granted to employees to attract, reward, and retain them. This can be when you’re first hired, or later on as a bonus (or both!). What Are … [Read more...] about The Gen Y Planning Guide to Company Stock: What Are Restricted Stock Units (RSUs)?
The Gen Y Planning Guide to Company Stock: What Are ESPPs?
This is the third post in a series on employer stock programs. Check out the previous posts on Incentive Stock Options and Non-Qualified Stock Options. Employee Stock Purchase Plans (ESPPs) can be a great way to take advantage of buying shares in your company stock at a discounted price, typically 10-15% off. Plus, your company makes it extremely easy to participate because you purchase shares … [Read more...] about The Gen Y Planning Guide to Company Stock: What Are ESPPs?
The Gen Y Planning Guide to Company Stock: What are NSOs?
This is the second post in a series on employer stock programs. Non-Qualified Stock Options (NSOs, or sometimes called NQSOs) allow employees to purchase shares of company stock over a defined period of time. Similar to Incentive Stock Options (ISOs), NSOs are included in company benefits packages to help attract and incentivize talent. You may receive NSOs when you first start a new job, or as … [Read more...] about The Gen Y Planning Guide to Company Stock: What are NSOs?
Ask Gen Y Planning: How to Manage Small Business Finances?
This question was submitted by a reader! Do you have a money question you’d like Gen Y Planning to answer in a future blog post? Submit it to genyplanning.com/askgyp. I’m starting a business in 2018 and one of the major things I need to learn about as an entrepreneur is managing my business’ finances and understanding tax requirements for small businesses. Is this something you could talk … [Read more...] about Ask Gen Y Planning: How to Manage Small Business Finances?
8 Money Mistakes to Avoid in Your 30s
“It’s complicated” is a great way to describe life in your 30s. You’ve been working for a while, so you might finally feel more financially stable than ever before. But on the other hand, you often have competing financial priorities. Career growth, serious relationships, family, and major life purchases tend to make this a very busy decade. Also, tiny wrinkles start showing up where you didn’t … [Read more...] about 8 Money Mistakes to Avoid in Your 30s