In this edition of Next Nest, the Carlsons’ son and his fiancée deal with working remotely during COVID-19 and leaving their NYC apartment to quarantine at the family’s beach house. Sate income taxation rules are complex, and the increase in the out-of-state-remote workforce has highlighted further complications. If the above scenario sounds familiar to you, then you are not alone.
If you are ready to retire, entering a second career, caring for aging parents, or have adult children, you won’t want to miss our series about the financial implications, opportunities and gotchas regarding life challenges. In our last issue, James, an executive with a publicly-held company headquartered in the Philadelphia suburbs and Jeanne, owner of a small public relations firm, received news that their first grandchild was on the way and sought ways to financially help their children and future grandchild. Now they find themselves wondering when they will be financially secure enough to spend their winters someplace warm. Have they saved enough money for James to consider stepping down from his high-paying, high-stress position?
If you are ready to retire, entering a second career, caring for aging parents, or have adult children, you won’t want to miss our series about the financial implications, opportunities and gotcha’s regarding life challenges. In our last story about James, age 60, a VP and Director at a publicly-held company in Radnor and his wife, Jeanne, age 58, owner of a small Public Relations firm in Wayne, we focused on the pros and cons of remodeling their Main Line home vs. moving to Center City. Now the Carlsons are about to become grandparents and are considering all the financial consequences for themselves, their children, and future grandchildren.
Meet the Carlsons: James, age 60, is a VP and Director at a publicly-held company headquartered in Radnor, PA. His compensation package includes stock options, restricted stock and deferred compensation, in addition to his base salary and bonus. His wife, Jeanne, age 58, owns a small Public Relations firm in Wayne, PA. She is self-employed. Their three children are out of the house, each with their own personal and financial challenges. As new empty nesters, James and Jeanne are ready to pursue some of the home projects they have talked about for years. Their 30-year-old Main Line home is charming, but will need some remodeling to look fresh to buyers if and when they eventually sell it.
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