7 Key Financial Considerations During a Job Transition

Thinking about changing jobs or just landed a promotion?

A new opportunity, whether internal or external, often brings exciting possibilities and important financial decisions.

YFP Co-Founder & CEO, Tim Ulbrich, PharmD and YFP Co-Founder & COO, Tim Baker, CFP®, RLP®, RICP® walk you through the most important financial areas to think about when navigating a job change or stepping into a new role.

Whether you’re in the early stages of a transition or already in your new role, this episode is your financial checklist to move forward with clarity and confidence.

➡️ Sponsor Disclosure
First Horizon is a paying sponsor of this episode of the Your Financial Pharmacist Podcast.

You can learn more about First Horizon and the Pharmacist Home Loan offering by visiting https://yourfinancialpharmacist.com/h...

✅ Mentioned on the Show
YFP 384: Beyond Salary: Negotiating Your Value in the Workplace: https://yourfinancialpharmacist.com/y...
Never Split the Difference by Chris Voss: https://www.amazon.com/Never-Split-Di...
YFP 328: How to Navigate Open Enrollment & Employer Benefits: https://yourfinancialpharmacist.com/y...
YFP Episode 408: What Should You Do With an Old 401(k): https://yourfinancialpharmacist.com/y...
YFP Episode 404: 5 Key Questions to Ask When Hiring a Financial Planner: https://yourfinancialpharmacist.com/y...

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▶️ Chapters

00:00 Welcome Back, Tim Baker!
00:04 4th of July Plans and Mid-Year Reflections
03:07 Job Transitions and Financial Planning
07:36 Evaluating Job Offers and Negotiation Tips
21:25 Setting Up the Conversation
21:47 Constructing the Counter Offer
23:02 Calibrated Questions in Negotiation
23:39 The Structure of a Counter Offer
24:40 Real-Life Negotiation Examples
25:29 The Importance of Genuine Accusation Audits
25:46 Negotiation as Part of Job Transition
26:11 Optimizing Employer Benefits
26:59 Evaluating Retirement and Health Plans
29:04 Additional Employer Benefits to Consider
31:48 Refreshing the Spending Plan
35:29 Tax Considerations in Job Transition
38:15 Handling Old Retirement Accounts
39:00 Evaluating the Financial Plan
39:39 Quality of Financial Advice at the Workplace
44:40 Working with YFP's Financial Planners

📝 Disclaimer

The content in this podcast is provided to you for your informational purposes only and is not intended to provide, and should not be relied on for, investment or any other advice. Information in this video and corresponding materials should not be construed as a solicitation or offer to buy or sell any investment or related financial products. We urge listeners to consult with a financial advisor with respect to any investment. Furthermore, the information contained in our archived newsletters, blog posts, videos and podcasts is not updated and may not be accurate at the time you listen or read. Opinions and analyses expressed herein are solely those of Your Financial Pharmacist (unless otherwise noted) and constitute judgments as of the dates published. Such information may contain forward-looking statements, which are not intended to be guarantees of future events. Actual results could differ materially from those anticipated in the forward-looking statements.

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