Potential Financial Steps for T-Mobile Employees in July
By Kevin Estes
Summer!
There’s a heat wave across America. The 4th of July is in just a few days. It’s definitely summer!
Potential Steps for T-Mobile Employees This Month
Financial steps T-Mobile employees might take in July include:
Check credit reports
Review / rebalance investment portfolio
Take summer vacation, attend camps
Submit dependent care reimbursements
1. Check Credit Reports
Summer expenses may be heavy and span multiple states. Fraud risk may rise while the chance of catching it falls.
Now’s a good time to check credit reports to
validate the information is correct,
check for fraud, and
maintain financial flexibility.
2. Review / Rebalance Investment Portfolio
Investments drift over time. That can be especially true after:
bonuses,
Restricted Stock Unit (RSU) vesting,
Employee Stock Purchase Plan (ESPP) buys, and
big market swings.
Employer Stock
Holding employer stock can be challenging. An investment can have more risk with a similar expected return.
Employer stock can be tied to other finances like:
income,
health insurance, and
home value.
For more, check out: Is It Worth Holding Employer Stock?
3. Take Summer Vacation, Attend Camps
Rest is a critical and often overlooked part of work.
Summer Vacation
Fall was the busiest season when I worked in management consulting and corporate finance. That was in part because it was end of year planning season.
It was also because many great ideas came:
when people were on vacation or
after they returned to work refreshed.
Summer Camp
Camp offers wonderful growth opportunities. Children get to:
break out of their routines,
connect with peers,
develop new skills, and
learn from different adults.
Our daughter attended camp for years on an island near Seattle.
When we were waiting at pickup, another parent mentioned:
The first year our daughter went to this camp, she was in tears coming off the boat.
My thoughts immediately went to worst case scenarios.
When I finally got to her, she cried: ‘I don’t want to leave!’
4. Submit Dependent Care Reimbursements
Daycare expenses can be heaviest in the summer. Submitting receipts quickly may help fund a summer vacation.
Also, it’s good to know early if there’s a problem. That gives everyone more time to resolve it - well before year end!
A dependent care Flexible Spending Account (FSA) generally cannot be used for:
overnight camps
13+ year old children
There are some exceptions.
If you’re interested in a review of your specific situation…
Disclaimer
In addition to the usual disclaimers, neither this post nor these images include any financial, tax, or legal advice.
