TECH SUCCESS is not an exhaustive treatise on comprehensive wealth management for tech executives. It’s a thought-provoking, quick read during your next red-eye business flight, poolside vacation, or autonomous-vehicle commute to the office. We’ve adopted the 80-20 Rule, focusing only on those factors we commonly see enhance or wreck successful lives. Each chapter concludes with a topical checklist, so you can verify you are on plan, or need to take action.
Chapter 1 – Getting to “Work Optional”
“Work-optional” starts by understanding how to manage meaningful wealth. That goes for successful tech execs and their families. Effectively managing wealth means factoring in economic lifecycles and behavioral finance. We also emphasize the importance of managing your executive compensation and concentrated stock positions.
Chapter 2 – Happiness is Sustainable Income
Looking ahead to your work-optional or retirement lifestyle includes considering ways to replace your employment income. We discuss guaranteed, reliable, and variable income.
Chapter 3 – Social Security Income – Not Just an Afterthought
For many people, Social Security income represents a significant piece of the retirement-income equation. We explain how it can be optimized to help fund your retirement goals.
Chapter 4 - Debt is a Four-Letter Word
We show how strategically managed debt can help improve your overall financial situation by providing liquidity when you need to make significant purchases or respond to unforeseen circumstances.
Chapter 5 – Planning Your Exit
Your retirement may last 30 to 50 years. Choosing the right time to retire—and then planning for that big day—may be one of the most far-reaching decisions of your life. We lay out the “glide path” for successful tech executives and business owners.
Chapter 6 – What Have You Got to Lose?
Financial independence can be fragile. Without managing your risks proactively, your assets and earnings can be unfairly taken away. We explain how to potentially mitigate personal, property, and personal liability risks.
Chapter 7 – Paying the Piper – Income-Tax Planning
The tax code isn’t easy to understand, yet it has implications for every aspect of wealth management. Tax erosion can shrink your income and net worth. We discuss four categories of income tax planning, and the best approach for working with your tax advisor and wealth manager.
Chapter 8 – Legacy Planning Done Right
Estate planning. Truly a difficult subject but one that, when done right, makes everyone’s life a little better. We summarize decades of estate planning experiences from local professionals, explain the best practices of successful families, and point out pitfalls you should avoid.
Chapter 9 – Teaching Your Kids to Deal with Wealth
The key to avoiding multigenerational erosion of wealth? Education and preparation. Your kids are capable of achieving amazing things, but you must provide them with the appropriate tools, experiences, and encouragement. We can help you guide their path to financial literacy.
Chapter 10 – Planning to Give Back
You can make a difference in the world. And you can do it without jeopardizing your lifestyle. That starts with a financial plan that successfully incorporate charitable goals. We consider two rewarding methods of giving back: philanthropy and board service.
Chapter 11 – International Issues: Coming and Going
Silicon Valley attracts the very smartest people from all over the world; 34% of residents were born outside of the United States, according to the Silicon Valley Institute for Regional Studies. We have experienced firsthand the unique financial implications of international marriage, overseas assets, and emigration. This chapter is a must-read if you have a non-US citizen in the family.
Chapter 12 – Retirement: The Spouse or Partner Viewpoint
Spouses, partners, and cohabitating significant others often have a viewpoint about the family’s financial wealth. We address the issues and concerns raised by members of traditional and non-traditional families and provide spouses and partners with catalytic ideas to help prepare for the changes ahead.
Chapter 13 – Wealth Management: A Great Team Makes All the Difference
The longer you put off planning, the more challenging it is to have a successful retirement or work-optional lifestyle. We share ideas for building a team of professionals to make your future dreams a reality.
Appendix A – How Much is Enough? When Can I Retire?
This chapter contains a valuable tool for estimating how much retirement savings you need to set aside at different retirement ages to generate your desired annual income until age 95. We also help you identify if your current savings are on target to meet your retirement goals.
Appendix B – Top 10 Ideas for Financial Success
“What was the best piece of financial advice you ever received?” “What do you wish someone had told you when you were getting started?” Those are some of the questions we asked tech execs when we were researching the content for our book. From the answers, we developed ten key ideas to help you navigate the road to your first million and potentially avoid some of the hurdles others encountered along the way.
We are confident that you will gain new and important insights from reading TECH SUCCESS. Above all — this is your resource to free up your creative energy and focus on you and your family’s next great adventure!
All proceeds from book sales will be donated to the Community Foundation Santa Cruz County and the Silicon Valley Community Foundation.
Investing involves risk, including loss of principal. There are no guarantees. Work with an advisor who can clearly explain the risks, not just the rewards, of your wealth management situation. While we are familiar with the tax provisions of the issues presented in this book, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional. Raymond James' sponsorship, endorsement, association or affiliation of/with the Silicon Valley Community Foundation and the Community Foundation Santa Cruz County or its activities is not implied, nor should it be inferred.
