Editor's note: This is the third article in a series in which Peter Newman, CFA®, of Peak Wealth Planning, shows you how to make the most of Employee Stock Ownership Plans (ESOPs). The first and second articles are Why High-Net-Worth Families Need a Financial Quarterback to Protect Their Wealth and Concentrated Company Stock in Your ESOP? Waiting to Diversify Could Tank Your Retirement.
Sally retired at 62 with $890,000 in her Employee Stock Ownership Plan (ESOP) and another $420,000 in her 401(k). The numbers looked solid. She'd done the math a hundred times. It was enough to cover expenses, maybe some travel, definitely that kitchen remodel.
