Changing careers? These tips might be able to help maximize your money.

Health care benefits, salary negotiations and retirement savings are some of the topics to consider when switching careers

Have you recently started a new job, or are you exploring a career change opportunity? Tammie Tirres with Texas Financial Advisory broke down the three main financial topics you should pay attention to when changing your career. In partnership with Texas Financial Advisory. #ad #sanantonio #ksat12

Have you recently started a new job, or are you exploring a career change opportunity?

Tammie Tirres with Texas Financial Advisory broke down the three main financial topics you should pay attention to when changing your career.

1. Health care benefits

When moving from one employer to the next, you’ll want to make sure there is no gap in your health coverage, Tirres said. You can do that with COBRA or through the Marketplace.

If you had a health savings account through your former employer and your current employer offers one, check to see if there are benefits to transferring the old plan.

Health savings accounts can be beneficial because they don’t go away, and you won’t lose money.

However, Tirres says with a flexible savings account, you can lose money. The plan cannot transfer to your current employer, so you’ll want to make sure you spend every penny before you leave.

2. Salary and bonus opportunities

Negotiations for the best salary base should happen before you begin your job.

Tirres said you’ll want to prove to your new employer that you are a team player, open-minded, and willing to work toward a bonus. Save the extra money you make!

3. Retirement programs and savings plans

Before you leave your employer, look at your 401(k) and understand your options.

Some companies have vesting limits that prevent employees from taking all the money with them if they haven’t stayed with an employer for a certain amount of time, Tirres said.

Once you start with your current employer, you’ll want to enroll in a savings plan as soon as possible. You can automate your savings, so the money comes from your paycheck.

Contribute at least what your company matches. That’s free money companies are offering you, and you’ll want to take advantage of it.

Also, ask your employer if they have a Roth 401(k), so you can contribute to that, as they are tax-free savings plans.


Do you own stock in the company for which you were also employed? Investment advisory services offered through Queen B Advisors, LLC, a Registered Investment Advisor, which does business as (d/b/a) Texas Financial Advisory. Insurance products, tax preparation services, and estate planning services are offered through Texas Insurance Advisory, Texas Tax Advisory, and Texas Estate Advisory, respectively, all of which also do business as Texas Financial Advisory. Insurance products, tax preparation, and estate planning are offered separate from investment advisory services. Neither Queen B Advisors nor Texas Financial Advisory offer tax or legal advice. Please consult the appropriate professional regarding your individual circumstances.