Tag: #MedTech
How to KEEP the Full Company Contributions in Your Medtronic 401K Plan

How to KEEP the Full Company Contributions in Your Medtronic 401K Plan

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If you participate in the Medtronic 401K plan, you already know about the great company contribution you receive. Do you know if you will be able to keep all of that money when you leave though? If you’re not paying attention to the fine print, you could leave thousands of dollars on the table. Today, we’re going to break down the vesting rules and timing triggers that determine how much of your company contributions you actually get to keep.

This isn’t just about retirement planning- it’s about understanding the key details that could impact your financial future if you change jobs, retire, or max out your contributions too early in the year. This is your chance to learn more about how the three-year cliff vesting schedule works, what happens if you leave before April 30 (the end of Medtronic’s plan year), and how to avoid missing out on thousands in matching and discretionary contributions.

Here’s some of what we discuss in this episode:

0:00 – Intro

1:00 – How Company Contributions Work

1:42 – 3-Year Vesting

4:52 – Different Scenarios

5:50 – Quick Recap

Other Resources

📌Our website: https://perspective6group.com/

📞Phone: (952) 225-0333

📧 Email: perspective6info@focusfinancial.com

🗓 Schedule your no-cost consultation: https://perspective6group.com/start-here/

📚 Essential Financial Guides

📌5 Ways to Maximize Your Medtronic 401k Plan Guide: https://perspective6group.com/guide/

📌Stock Compensation Tax Form Checklist: https://perspective6group.com/stock-compensation-tax-checklist/

📌ESPP: A Comprehensive Guide: https://perspective6group.com/espp-guide/

📌Check out our other no-cost financial resources here: https://perspective6group.com/resource-center/

📲 Stay Connected

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Tax Filing 101 for Stock Compensation Holders (Ep. 32)

Tax Filing 101 for Stock Compensation Holders (Ep. 32)

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Taxes can be overwhelming, especially when managing stock compensation and navigating complex filing requirements.

Are you maximizing your tax strategy, or are you leaving money on the table? How can you ensure accurate reporting and avoid costly mistakes?

In this episode, Matt Nelson sits down with Conner Kelderman, CPA and founder of Track, to break down tax filing best practices, stock compensation complexities, and essential deadlines. They discuss common mistakes professionals make and how to optimize your tax planning for long-term financial success.

We discuss:

  • The key documents needed for tax filing, including W-2s, 1099s, and supplemental equity compensation forms
  • How stock-based compensation like RSUs and ESPPs impact taxable income and common reporting errors to avoid
  • The importance of understanding cost-basis adjustments to prevent overpaying on stock sales
  • Deadlines for tax filing, estimated tax payments, and strategies for managing extensions effectively
  • Recent IRS updates on inherited IRAs and required minimum distributions, and what they mean for future planning
  • And more!

Resources:

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About Our Guest: 

As a Certified Public Accountant (CPA) with over 12 years of experience, Conner has expertise in handling tax planning matters for individuals, family groups, and business entities. Conner manages the tax preparation and filing for both individuals and business entities. He also has worked extensively with clients who live/work outside of the U.S. and non-U.S. citizens living/working in the U.S.
Financial Planning Q&A (Ep. 31)

Financial Planning Q&A (Ep. 31)

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Making informed financial decisions can be the difference between financial stress and financial independence.

Are you confident in your strategy for retirement planning, tax efficiency, and leveraging workplace benefits like 401(k)s, ESPPs, and HSAs?

In this episode, Matt Nelson and Matthew Finley answer real client questions, addressing topics like maximizing retirement savings, understanding investment strategies, and preparing for market changes. Their practical insights make financial planning accessible and actionable for MedTech professionals.

They discuss: 

  • How to determine the right mix of risk and conservatism for 401(k) investments, especially as retirement approaches
  • Which accounts to withdraw from first during retirement to optimize taxes and cash flow
  • The impact of market fluctuations on Employer Stock Purchase Plans (ESPPs) and strategies to avoid common pitfalls
  • Why economic fundamentals matter more than political changes for long-term financial stability
  • How to grow Health Savings Accounts (HSAs) into powerful investment tools for the future
  • And more!

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2024 Year in Review: Big Wins, Client Success Stories, and 2025 Market Insights (Ep. 30)

2024 Year in Review: Big Wins, Client Success Stories, and 2025 Market Insights (Ep. 30)

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In this episode, Matt Nelson, Matthew Finley, and Jacob LaRue review the year’s highlights for Perspective 6 Group. They discuss transformative client outcomes, tax-saving strategies, and tailored financial planning approaches. Packed with insights, this episode showcases the value of personalized advice in achieving long-term goals.

You’ll hear: 

  • Reflections on client achievements, including 256 review meetings, onboarding 11 new clients, and impactful case studies
  • Effective tax strategies, such as reviewing 143 returns and executing $1.3 million in Roth IRA conversions to secure long-term benefits
  • Estate planning triumphs, including designing strategies to shield millions from taxation for generational wealth
  • Portfolio performance and market strategies, leading to strong returns and reduced internal fees for clients
  • Team growth, innovation, and the use of technology to improve client experiences and streamline operations
  • And more!

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Young Careers in Financial Advising (Ep. 29)

Young Careers in Financial Advising (Ep. 29)

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What drives someone to pack up and move for a career? 

In this episode of The MedTech Wealth Advisor Podcast, host Matt Nelson introduces listeners to two new team members at Perspective 6 Group, Grace Hennen and Karissa McLaren. 

Tune in to hear about their unique backgrounds, how they landed in the MedTech financial advising world, and why they’re both thrilled to join the team. Discover how their experiences shaped their career and life choices.

During the discussion:

  • Karissa shares how her upbringing on a Kentucky cattle farm influenced her passion for finance
  • Grace reflects on how a love for customer service and a passion for mathematics paved her path to financial planning
  • Both discuss the surprises and lessons learned from transitioning from academic financial concepts to real-world application
  • Matt guides a conversation on industry progress and personal insights on how new professionals can push for even more inclusive practices 
  • And more!

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About Grace Hennen:

After her graduation from college in 2024, Grace began working with Perspective 6 Group as a Financial Planning Associate. Grace is passionate about financial planning and helping people achieve their goals. As an Financial Planning Associate, Grace will be responsible for ongoing financial planning analysis and research, and portfolio maintenance. In addition, Grace will assist our clients with day-to-day activities such as ensuring our financial planning data is up to date or helping clients with account-related questions. Through her work as an Advisor Support Specialist, Grace is working to gain the skills necessary to become a Financial Advisor.

About Karissa McLaren:

Following her graduation in 2024, Karissa McLaren began working for Perspective 6 Group as an Advisor Support Specialist. During her time in college, she discovered her passion for serving others in various capacities. That passion, coupled with her interest in finance and investments, has led her to a career in financial planning with the aspiration of becoming a licensed Financial Advisor. Karissa looks forward to learning the depths of the industry and forming relationships with clients.
The Power of Donor-Advised Funds for Charitable Giving (Ep. 28)

The Power of Donor-Advised Funds for Charitable Giving (Ep. 28)

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How can you maximize your charitable giving while minimizing your taxes?

Donor-advised funds (DAFs) might be the key.

Join Matt Nelson and Jacob LaRue as they dive into the strategic world of donor-advised funds—a tool many haven’t explored yet—to enhance your charitable contributions while skillfully managing your tax savings, aligning seamlessly with your values. 

They discuss: 

  • Donor-advised funds, a powerful vehicle to maximize both your charity impact and tax benefits
  • Practical scenarios and case studies showcasing the effectiveness of bundling contributions for greater deductions
  • Combining strategies such as utilizing low-basis stocks or integrating Roth conversions
  • The options for setting up lasting charitable legacies that continue giving beyond your lifetime
  • And more!

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The Basics of Charitable Giving: Cash, Stocks, IRAs (Ep. 27)

The Basics of Charitable Giving: Cash, Stocks, IRAs (Ep. 27)

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Are you making the most of your contributions?

This week, Matt Nelson and Jacob LaRue explore the essentials of charitable giving, focusing on how to align charitable contributions with financial goals while optimizing tax savings. 

The episode outlines the importance of prioritizing values over tax savings, covers key methods of giving, and provides strategies for maximizing the benefits of donations.

They discuss: 

  • The importance of prioritizing your values over tax savings when engaging in charitable giving
  • An overview of tax considerations and limitations on charitable contributions
  • Strategies for donating low-basis stock and how it can be more beneficial than cash donations
  • The benefits of Qualified Charitable Distributions (QCDs) for retirees, especially those with required minimum distributions (RMDs)
  • And more!

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How Much Life Insurance Do I Need? (Ep. 26)

How Much Life Insurance Do I Need? (Ep. 26)

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Life insurance might not be the most exciting topic, but it’s crucial for safeguarding your financial future.

And the golden question is: How much life insurance is enough?

We’ve got the answer this week on The MedTech Wealth Advisor Podcast. Matt Nelson and Jacob LaRue talk about how to determine the appropriate amount of life insurance coverage to meet your needs.

They guide you through the purpose of life insurance, the various frameworks to determine the necessary coverage for you, and how to select the right type of policies based on individual needs. 

They discuss: 

  • The purpose of life insurance and its role in financial planning
  • Different frameworks for calculating the necessary amount of coverage
  • The distinction between group and personal life insurance policies
  • How to tailor life insurance plans to unique family and financial situations.
  • And more!

Resources:    

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How Roth IRAs Work

How Roth IRAs Work

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Wondering how Roth IRAs give you a tax advantage? Curious about non-retirement uses like college and buying a home? This episode dives deep into the strategic advantages of Roth IRAs and their role in preparing you for your financial future.

For working professionals, navigating retirement planning is critical. This episode reveals how Roth IRAs can be pivotal tools in your financial arsenal, offering benefits beyond retirement savings. Whether you’re a young investor or a high earner, understanding the nuances of Roth IRAs can lead to significant long-term gains.

Join host Matt Nelson, CFP®, Managing Partner at Perspective 6 Group, and Jacob LaRue, CFP®, Head of Financial Planning, as they discuss the most effective strategies for optimizing Roth IRAs. Discover how these accounts can be leveraged not just for retirement, but also for estate planning, emergency funds, and even home purchases.

Key Highlights:

  • Roth IRA Basics: Learn how Roth IRAs differ from traditional retirement accounts, with after-tax contributions and tax-free withdrawals in retirement
  • Strategic Contributions: Explore optimal strategies based on your lifetime tax bracket and income fluctuations to decide between Roth and traditional IRAs
  • High Earner Strategies: Learn about Backdoor and Mega Backdoor Roth IRAs, designed to help high-income earners maximize their savings into retirement
  • Estate Planning: Discover the benefits of using Roth IRAs in estate planning, including tax-free inheritance and the absence of required minimum distributions
  • Non-Retirement Benefits: Uncover how Roth IRAs can fund emergencies, facilitate home purchases, and reallocate excess 529 plan funds for education
  • And much more!

 

Resources:

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How to Navigate and Optimize Non-Qualified Stock Options

How to Navigate and Optimize Non-Qualified Stock Options

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How do NSOs work? When are NSOs taxed? Are NSOs earned income? Get all your NSO questions answered on this episode.

Unlocking the potential of your non-qualified stock options (NSOs) can be essential in achieving financial independence, particularly in the MedTech industry. Understanding the intricacies of NSOs can empower you to make informed decisions about your equity compensation and overall financial plan.

Join host Matt Nelson, CFP®, and Jacob LaRue, CFP®, as they explore the strategic planning required for exercising NSOs. Learn the importance of understanding grant agreements, vesting schedules, and the overall impact on your financial plan to avoid common pitfalls like unexpected tax bills and concentration risk.

Key Highlights:

    • NSOs Overview: Gain insights into how NSOs work, including the difference between the grant price and the current stock price, as well as the significance of the vesting schedule
    • Exercising NSOs: Explore different methods of exercise, cash vs. cashless, and understand the implications of each approach
    • Tax Implications: Learn about the tax consequences of exercising NSOs, including ordinary income taxes on the bargain element and capital gains taxes on future gains
    • Concentration Risk: Discover strategies to manage concentration risk, especially if a significant portion of your portfolio is tied to one company’s stock
    • Three-Step Planning Process: Understand the process of reviewing stock plan documents, building a financial plan, and creating a game plan for exercising NSOs
    • Withholding and Tax Planning: Identify the need for additional tax planning due to insufficient withholding on NSOs and the importance of keeping up with tax estimates to avoid penalties
  • Practical Guidance:
    • Early Exercise Option: Exercising NSOs early can be beneficial if the stock price is low, allowing future gains to be taxed at capital gains rates instead of income tax rates
    • Scenario Planning: Evaluate different exercise scenarios to determine the best strategy for your financial situation, considering factors like market concentration and tax impact
    • Regular Check-ins: Regularly review and adjust your financial plan, especially during key periods like Spring and Fall to ensure you stay on track and avoid surprises
  • And much more!

 

Resources:

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