Your Google Benefits & Career: Financial Planning for Employees and Executives

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Brian Thorp

Brian Thorp is the founder and CEO of Wealthtender and Editor-in-Chief. Prior to founding Wealthtender, Brian spent nearly 22 years in multiple leadership roles at Invesco. With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

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Do you work at Google? Get the resources you need and expert insights from financial professionals who specialize in helping Google employees make the most of their compensation package and benefits.

Whether you’re a new Google employee or you’ve moved up the ranks into a management or executive leadership role over a multi-year career, it’s important to make smart money moves with your income and employee benefits. For example:

✅ Do you know the right moves to make to get the greatest value from the Google benefits available to you?

✅If you’re thinking about leaving Google for another job or planning to retire from the company in a few years, are you taking the right steps today to ensure you will receive all of the compensation and benefits that you’ve earned?

Get the Most Value from Your Google Benefits and Compensation Package

Throughout the year, Google provides its employees and executives with updates about their benefits ranging from health insurance and health savings plans to retirement plans like a 401(k), deferred compensation plans, and stock options. While the company offers many useful resources and access to knowledgeable staff who can assist with questions, you’ll also find financial professionals not affiliated with Google who specialize in helping Google employees make the most of their income and benefits.

Whether you work in the Google headquarters in Mountain View, California, another office location around the country, or remotely from home, you may have questions about your compensation package and benefits better suited for a financial professional who can offer unbiased advice and guidance.

For example, sensitive topics like discussing the steps you should take before quitting your job at Google to work elsewhere, protecting yourself in advance of a corporate layoff, or deciding when you should plan to retire are all conversations that may be more comfortable with a trusted financial advisor.

💡 In the Q&A below, you’ll gain insights from financial advisors who work with Google employees to help them make smart decisions to get the most value from their compensation and benefits, reduce their money stress, and prepare for a comfortable retirement.

🙋‍♀️ Do you have questions not yet answered? Use the form below to submit questions anonymously and watch this article for updates with answers to your questions. You can also reach out to the financial advisors below to set up an introductory call or contact them with your questions by email.

Q&A: Financial Planning Tips for Google Employees & Executives

In this section, you’ll learn how you can make the most of your Google employee benefits and gain valuable tips from financial advisors who specialize in working with Google employees and executives.

Answers to Employee Questions with Marcel Miu, CFA, CFP®

Marcel Miu is a financial advisor based in Austin, Texas, who specializes in offering financial planning services to Google employees. Marcel helps his clients get the most value from their Google benefits and compensation package so they can enjoy life and feel confident about their financial future.

Q: As a financial advisor with experience helping Google employees save for their retirement, how do you help them make the most of their employee benefits?

Marcel: We focus on optimizing the use of Google’s 401(k) with its 50% match, guiding clients on the timing and amount to contribute for maximum benefit​​. If you contribute the maximum amount, Google adds an additional $11,500 (For 2024), fully vested from day one!

The Mega Backdoor Roth IRA is a key strategy we often recommend to allow tax-free growth. This move can add an extra $34,500 (For 2024) annually to your ROTH, growing tax-free for life. This can turbocharge you to financial freedom.

We assist with maximizing the value of your Google Stock Units (GSUs) by planning the right time to hold or sell. With a variety of strategies, we have solutions for all situations someone is looking to solve (e.g., tax minimization, charity, goals funding, etc.).

We help clients maximize some of the lesser-known financial hacks for long-term tax and debt management: fully leveraging health and flexible savings accounts (HSA/FSA), and student loan repayment contributions from Google​.

We ensure clients in their family-building phases take advantage of the generous benefits from Google. This includes fertility assistance, adoption and surrogacy assistance, and parental leave. See our guide, Google Employee Benefits – Maximizing the Best Kept Secrets, for a deeper dive!

Q: When you first speak with a Google employee, what questions do you like to ask to better understand their unique circumstances and determine how you can best help them achieve their goals?

Marcel: When first speaking with a Google employee, I like to ask a series of thoughtful questions to gain an understanding of their unique circumstances and how I can best assist them in achieving their goals. Here’s a brief glimpse into my approach:

• Goals and Vision:
  • What does your most fulfilling life look like, both personally and professionally?
  • What short-term and long-term financial goals are you aiming to achieve?
• Career Trajectory and Satisfaction:
  • How long have you been with Google, and how do you envision your future with the company?
  • Are you enjoying your current role, or are you considering new opportunities within or outside Google?
• Compensation Structure:
  • Can you tell me about your compensation package, including salary and stock-based compensation?
  • How comfortable are you with understanding your equity compensation and its potential impact on your overall financial picture?
• Investment Strategy:
  • How do you currently balance your Google stock holdings with other investments?

Eventually, throughout the engagement, we’ll touch on many other areas such as tax planning, estate planning, insurance planning, and more.

Q: For Google employees thinking about leaving the company to accept a job elsewhere, what actions do you recommend they take before resigning and shortly thereafter?

Marcel:

• Before You Leave:
  • Assess Your Stock: Review unvested equity and use it to negotiate your new offer.
  • Maximize Current Benefits: Use remaining PTO, schedule medical appointments, and claim reimbursements.
• After Resigning:
  • Health Coverage: Plan for insurance transition, consider COBRA if needed.
  • Retirement Accounts: Manage 401(k) and HSA contributions across employers.
  • Financial Cushion: Ensure adequate emergency savings, especially if joining a smaller company.
• Key Considerations:
  • Review non-compete agreements and intellectual property clauses.
  • Align your move with long-term career goals and growth opportunities.

Q: For Google employees approaching retirement age, how do you recommend they prepare to make the transition from living off their salary to relying upon other sources of income?

Marcel: Transitioning from a Google salary to retirement income requires careful planning:

• Lifestyle Considerations
  • Factor in how you want to spend your retirement. Whether it’s travel, hobbies, or starting a business, ensure your financial plan supports these aspirations.
• Comprehensive Income Strategy
  • Map out all potential income sources, including 401(k), stock compensation, and possible part-time work. Creating a plan that’s reasonably close to your current take-home pay could help ensure a smooth financial transition.
• Healthcare Coverage
  • If retiring before Medicare eligibility, research alternatives like COBRA or marketplace plans. Budget for these expenses well in advance to avoid surprises.
• Tax-Efficient Withdrawals
  • Leverage potentially lower-income years for tax-advantaged moves, such as Roth conversions or strategic capital gains realization. This can help optimize your tax situation in retirement.
• Investment Rebalancing
  • Adjust your portfolio to align with retirement goals, focusing on stability and income generation while maintaining some growth potential.

Pro Tip: Build a cash reserve to cover 2-3 years of expenses. This buffer can provide peace of mind and flexibility as you adjust to your new financial reality.

Regular reviews with a financial advisor can help you navigate this transition successfully, ensuring your plan stays on track with both your financial needs and personal goals.

Get to Know Marcel Miu, Financial Advisor for Google Employees:

View Marcel’s profile page on Wealthtender or visit his website to learn more.

Q: For Google employees who have managed their finances on their own to this point, what would you suggest they consider to help them decide if they should begin working with a financial advisor at this stage in their lives?

Marcel: For Google employees who have managed their finances independently, considering professional financial advice can be a pivotal decision:

As your wealth grows, so does the complexity of managing equity compensation, tax strategies, and investment diversification.

Do you have the time, knowledge, and confidence to navigate the intricacies of your finances? An advisor can offer a broader financial framework, aligning your wealth with your life goals and providing insights for both short-term decisions and long-term planning. They can help create a comprehensive strategy that not only addresses immediate concerns but also sets you on a path for future financial success.

Ultimately, working with a financial advisor can provide peace of mind and a clearer financial direction.

Q: For highly compensated Google employees and executives, are there any special benefits you believe it’s important to take into consideration when preparing their financial plan?

Marcel: For highly compensated Google employees and executives, there are several key financial considerations to keep in mind when preparing a comprehensive financial plan:

• Deferred Compensation (NQDC)
  • Managing these benefits is crucial, offering opportunities for tax deferral and income smoothing during high-earning years.
  • Many people overlook the powerful benefit that tax deferrals offer, especially when you’re a top tax bracket payer, such as many of those at Google. We’ve often found this can equate to many 100’s of thousands of dollars in forgone benefits if not properly handled.
• Tax Planning
  • As compensation increases, so does the importance of sophisticated tax strategies.
  • Consider working with financial and tax professionals who specialize in high-income strategies and equity compensation.
• Holistic Financial Approach
  • Beyond just managing stock-based compensation, it’s important to integrate these benefits into a broader financial plan.
  • This includes balancing immediate financial needs with long-term wealth accumulation and diversification strategies.

For more financial insights, read Unlocking Your Full Range of Benefits.

Quick Facts & Resources for Google Employees

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About the Author

Brian Thorp

Founder and CEO, Wealthtender

Brian and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

Connect with Brian on LinkedIn

To make Wealthtender free for readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a conflict of interest when we favor their promotion over others. Read our editorial policy and terms of service to learn more. Wealthtender is not a client of these financial services providers.
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