Corporate Benefits: Employee Stock Purchase Plans
Transitioning teachers might be unfamiliar with some of the financial benefits of working in the corporate world.
One program I recently started participating in is the Employee Stock Purchase Plan. I can buy my companies stock at a 15% discount! If this makes you uncomfortable, start small by setting an amount of “play money” to go into your brokerage account with each paycheck. I started with $25/paycheck to make sure I understood how it works.
Because I don’t like to be invested in single stocks, once a month I sell my company stock and buy into a broad total market index fund. Purchasing these shares at a 15% discount makes a huge difference in the long run. When I look at how much I’ve invested vs. how much is in the account, even after a few months, I’ve made a lot of money already.
Having a brokerage account fits into my overall financial plan because if I decide to retire early, I won’t be able to access a lot of my money without penalties. The brokerage account is immediately available to me.
There are many other programs you can look for, like tuition reimbursement, gift matching, family planning assistance, etc. What perks have you taken advantage of at your corporate job?
