Businessolver’s Post

Creating a total compensation statement is essential for you and your family because it provides a comprehensive view of your earnings beyond just your salary. This statement includes bonuses, commissions, insurance benefits, retirement contributions, and other incentives like stock options. By reviewing your total compensation, you gain a clearer understanding of your true earning potential and the full value of your employment package. This insight can enhance your financial planning and decision-making. For more tips on financial preparedness, consider joining the Get Ready Money Club. #FinancialWellnessFriday

🤔 Why you need to create a total compensation statement. 🌎 The big picture: Your total compensation includes all compensation, beyond salary. 🤔 Why it matters: When you work for a business as an owner, partner, or employee, you will typically receive compensation beyond your salary: 🔹 Bonuses or commissions 🔹 Health insurance, life insurance, and disability insurance 🔹 Contributions to retirement plans 🔹 Other benefits, such as stock incentives 💡 Here’s what works: Create your total compensation statement which will show the total value of what you receive from your employer. 😎 Bottom line: Review your total compensation statement so you can see how much you are really earning. 🙌 Join the Get Ready Money Club for a deeper dive on the weekly action item in your inbox along with my weekly recommendations to expand your financial preparedness. Link in bio. Source: The Get Ready Blueprint: A 52 Week Guide to Changing the Way You Think About Money. #getreadymoneyclub #moneytips #totalcompensation #financialpreparedness

So we just got two new kittens. Because my wife needed them (we have 3 already). Sounds crazy right? Why do we do things like this? Becuase they are cute and they make us feel good. They make us happy. Make our life a little more enjoyable. Right? Well the same applies to employees and their benefits. Offering benefits makes them feel good, more appreciative and more loyal. It makes them take more pride in their job as well. Offering benefits can mean health insurance, dental and vision, retirement, all sorts of things. For us it means voluntary employee funded benefits through payroll deduction. Benefits designed to attract and retain key employees by improving employee morale without increasing your bottom line. Interested? #aflac #benefits

So excited to finally be able to announce this partnership! The🐈is out of the👜! Collaborating with such a mission-aligned partner has filled the wind in our sails and we are full steam ahead! This partnership with Portage Bank allows us to scale our efforts to meet the increasing demand for out-of-plan workplace #EmergencySavingsAccounts as an employee benefit. Together, we help employees accumulate liquid savings that will be there for them whenever they need it, straight through payroll deduction. One big component of this partnership is that our employer clients will be able to offer a market-leading interest rate* to their employees for their ESA benefit. Currently, that's 4.50%* APY - nearly 10x the national average interest rate. Our employer clients can also give employees cash rewards for their savings efforts. So both Portage Bank and their employer are helping employees grow their money - significantly! This protects retirement assets by stopping the rampant leakage. Looking for actionable financial wellness benefits for 2025? Here comes the sun. 😎 Full press release in the comments. #ESA #EmployeeBenefits #FinancialWellness Disclosure: *Accounts are held at Portage Bank, Member FDIC. Annual Percentage Yield is current as of publication. Rate is variable and may change after publication date, and after account opening. Fees may reduce your earnings. Withdrawal restrictions apply.

Open enrollment is a great time to review your overall financial plan! Use the link below for helpful ways to keep your goals in check while enrolling in your benefits. https://ow.ly/gc2Q50TGfsj #millennialwealth #personalfinance #financialplanning #openenrollment #retirementplanning #savings #benefits #moneymanagement

Here are 3 things I often see people missing out on with their workplace benefits. 1️⃣ 401k match - This is an easy one. Even if money is tight, you can always get the free match and take a hardship withdrawal in the future. Check your vesting schedule on this as well. But, free money. 2️⃣ Use a Health Savings Account if you are healthy. Even though a lot of noise has been made around HSAs, the truth is, that it is still underutilized. 3️⃣ Access to group legal work - Many companies offer a discounted program to help you set up a will or trust for only a few hundred dollars if used that year. You may or may not need a more robust plan in the future, but at least this solves for the no plan now. Check your company benefits. You may be leaving a lot of great resources unused!

If your team is under financial stress (and they probably are) then read on: Group savings schemes, like DEWS, are a game-changer for employers and employees. Unlike the outdated End-of-Service Gratuity system, it’s a regulated plan that allows employers to fund the end-of-service benefits for employees and ensure they receive a payment from DEWS when they quit or retire. This is not the standard gratuity scheme, it’s a solution that could have a huge impact. Imagine how much more committed you’d feel if your company matched a percentage of your savings? It transforms workplace culture and creates a committed team that is willing to stay for the long haul. Yet so many companies don’t get it. They think a run-of-the-mill gratuity plan will cut it. We know by now that financial concerns are the top stressor for employees - the research keeps telling us this - so this is an opportunity for employers to do something about it. If you’re relying on outdated benefits while your employees’ financial stress levels climb - Don’t be surprised when top talent walks out the door. What do you think about group savings schemes? #Wealth #EmployeeWellness #Leadership

I have written another article for Cottons Group Accountants. This month relates to relevant life cover, which is an amazing tax benefit for business owners and their employees to have personal life cover. If you require advice, please get in touch with us at Golden Oak Wealth Management. #wealthmanagement #independentfinancialadvice #businessowners

Unlock the power of Group Benefits! There are 5 things we can do with money according to Ron Blue of Ron Blue Financial Institute. 1. Live 2. Give 3. Owe (Taxes) 4. Owe (Debt) 5. Grow (save + invest) What category does offering group benefits look like to your team. Is it debt? Is it grow? I am sure you can argue "live". I am also sure you can argue it is an investment in your team to "grow". Both are reasonable. However, I believe it is a gift. Isn't that awesome. Sometimes we can overspiritualize gifting as to missions or to churches (both are awesome). What if a way we show God's love is by giving employees great benefits. Did you know that group benefits can be a game changer for your team's well-being? From health insurance to retirement plans, offering these perks not only atttracts top talent but also boosts morale and productivity. Let's chat! What benefits do you think are most valuable? Share your thoughts below! #GroupBenefits #EmployeeWellness #TeamSuccess #Generosity

Discover how life cover can be a tax-efficient benefit for directors and employees. Expert financial advisor Daniel Payne from Golden Oak Wealth Management explains the advantages, structures and tax savings associated with this valuable employee benefit. Full article 👉 https://lnkd.in/e5jXQJEK #financialplanning #taxsavings