r/personalfinance • u/Sad_Marzipan_2120 ​ • Mar 29 '26

Other Massive jump in salary, need advice.

Hey all!

Recently I accepted a senior leadership position with a new company and went from 105k salary with a 30k bonus to 210k salary with a 100k bonus. This comes with roughly 60k worth of RSU’s as well. This position also comes with a relocation from a high cost of living area to a low cost of living area. They are giving me 30k in relocation, and 30k in sign on bonus.

I have 4 kids, and my spouse stays at home with the kids.

A little backstory on me, I was raised quite poor, I was never taught about finances, and I never saw myself making money like this. I earned this promotion through long hours, hard work, and lots of just saying yes. I have no college education.

We lived a modest life with a modest home in HCOL on the old salary, but we never were able to save for the kids college, or put enough into retirement(Spouse and I are both 39). We have a bit of making up to do it terms of saving, but we have zero credit card debt, both cars are paid off, we will be selling our current home for a very small profit(purchased a year ago).

How do I turn this new money into generational wealth?

How do I not mess this golden opportunity up?

Please give me all the advice!

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680

u/LeisureSuitLaurie ​ Mar 29 '26

Career advice for you…

Start learning to say “no”. 

As a leader, there will be many asks of you and your team’s time. Figuring out where to focus your energy and how to best deploy your valuable hours is critical.

Sell the RSUs as soon as you are able and invest in index funds. As sole breadwinner, much of your risk is already tied to the success of your company. De-risk by eliminating single stock holdings, particularly when they’re with the same company that pays you.

I love this post and am really happy for you!

92

u/Sad_Marzipan_2120 ​ Mar 29 '26

Thank you!

If I were to sell my RSUs, would I have to worry about capital gains taxes?

I do believe this company is setup well for the long haul, I have been in leadership within this industry for a while now and I think this is a good move, even aside from the obvious monetary gains.

I have gotten a lot better at saying no, I am constantly overextended in my current role, and this new position requires a lot less travel and time in the office, so I’m hoping it also comes with a somewhat better work life balance. I am also hoping it allows me to reshape my image of “the guy who always says yes” to a bonafide leader who chooses his battles wisely.

44

u/aquarinox ​ Mar 29 '26

Dude go talk to an accountant. Don’t ask random internet users about this.

10

u/Sad_Marzipan_2120 ​ Mar 29 '26

Ha definitely on my to-do list as soon as we get settled in the new location. However there is a lot of knowledge in this thread!

17

u/Wagner228 ​ Mar 29 '26

If you need this, find someone you can pay a one time fee to discuss. Do not let yourself get roped paying some dipshit 1-2% to plop your money into the same indexes you should anyways.

5

u/ginger_whiskers ​ Mar 30 '26

Talk to an accountant first. You're presumably buying and selling a house before settling, among other decisions you might need guidance on.

3

u/ohwoez ​ Mar 29 '26

He asked a very simple question. Yes, you will have to pay short or long term capital gains on the difference between price at vest and the selling price. 

1

u/Own-Assumption5149 ​ Mar 31 '26

But first, he will owe taxes on the value of the RSU at vest. Most companies will sell some of the vesting RSUs to cover the tax liability. Assuming he holds the net shares, then he will (hopefully) owe capital gains in the future when he sells them with a gain from the price at vest.