Your Boeing Benefits & Career: Financial Planning for Employees and Executives

By  Brian Thorp

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Do you work at Boeing? Get the resources you need and expert insights from financial professionals who specialize in helping Boeing employees make the most of their compensation package and benefits.

Whether you’re a new Boeing employee or you’ve moved up the ranks into a management or executive leadership role over a multi-year career, it’s important to make smart money moves with your income and employee benefits. For example:

✅ Do you know the right moves to make to get the greatest value from the Boeing benefits available to you?

✅ If you’re thinking about leaving Boeing for another job or planning to retire from the company in a few years, are you taking the right steps today to ensure you will receive all of the compensation and benefits that you’ve earned?

Get the Most Value from Your Boeing Benefits and Compensation Package

Throughout the year, Boeing provides its employees and executives with updates about their benefits ranging from health insurance and health savings plans to retirement plans like a 401(k), deferred compensation plans, and stock options. While the company offers many useful resources and access to knowledgeable staff who can assist with questions, you’ll also find financial professionals not affiliated with Boeing who specialize in helping Boeing employees make the most of their income and benefits.

Whether you work in the Boeing headquarters in Arlington, Virginia, another office location around the country, or remotely from home, you may have questions about your compensation package and benefits better suited for a financial professional who can offer unbiased advice and guidance.

For example, sensitive topics like discussing the steps you should take before quitting your job at Boeing to work elsewhere, protecting yourself in advance of a corporate layoff, or deciding when you should plan to retire are all conversations that may be more comfortable with a trusted financial advisor.

Should you hire a Boeing specialist financial advisor or an advisor close to home?

You’ll likely find dozens of nearby financial advisors well-suited to help you reach your money goals with a personalized plan. But it may be more difficult to find a financial advisor who specializes in serving Boeing employees.

Fortunately, many financial advisors offer virtual services so you can meet online no matter where you (or they) live.

This means you can choose to hire a specialist financial advisor who lives hundreds of miles away if you decide their knowledge and experience working with Boeing employees is a better fit to help with your unique needs.

💡 In the Q&A below, you’ll gain insights from financial advisors who work with Boeing employees to help them make smart decisions to get the most value from their compensation and benefits, reduce their money stress, and prepare for a comfortable retirement.

🙋‍♀️ Do you have questions not yet answered? Use the form below to submit questions and watch this article for updates with answers. You can also reach out to the financial advisors below to set up an introductory call or contact them with your questions by email.

💸 Smart Money Insights for Boeing Employees & Executives

This page is organized into sections to help you quickly find the information you need and get answers to your questions:

  1. Q&A: Financial Planning Tips for Boeing Employees & Executives
  2. Get Answers to Your Questions About Your Boeing Benefits and Career
  3. Quick Facts & Resources for Boeing Employees
  4. Browse Related Articles

Q&A: Financial Planning Tips for Boeing Employees & Executives

Answers to Employee Questions with Paul Doak, CFP

Paul Doak is a financial advisor based in Bothell, Washington, who specializes in offering financial planning services to Boeing employees. Paul helps his clients get the most value from their Boeing benefits and compensation package so they can enjoy life and feel confident about their financial future.

Q: As a financial advisor with experience helping Boeing employees save for their retirement, how do you help them make the most of their employee benefits?

Paul: Making sure they utilize their current benefits to their maximum potential. Exploring ways to increase their retirement savings, reduce taxes and maximize their pension and life benefits.

Q: When you first speak with a Boeing employee, what questions do you like to ask to better understand their unique circumstances and determine how you can best help them achieve their goals?

Paul: Here are a few examples of questions I often ask Boeing employees when I first meet with them:

  • How long have you been with Boeing? 
  • Has your work history been Union, Management, or a combination?
  • Are you considering retirement in the next 2-3 years? 
  • What are your main concerns?
  • What problems have you encountered with regard to your concerns?

Q: Is there a particular benefit available to Boeing employees you feel isn’t as well utilized or understood by employees as it should be?

Paul: Yes, here’s what I like to share with Boeing employees about their pension:

  • Your pension (PVP and BCERP) can do more for you than you think! 
  • Take it as a lump sum, and with proper allocation, it can result in the same guaranteed monthly payout PLUS instant extra cash for your IRA to use as you see fit.
  • OR a guaranteed larger monthly payout than what is currently being offered by Boeing.

Note it all depends on your situation- no one situation fits all.

Q: Beyond Boeing employee benefits for retirement savings, are there other types of benefits offered by the company that you find valuable to discuss with your clients?

Paul: Health Savings Accounts are often an underutilized benefit available to Boeing Employees.

Q: For Boeing employees thinking about leaving the company to accept a job elsewhere, what actions do you recommend they take before resigning and shortly thereafter?

Paul: There are actions I recommend Boeing employees take both before and after leaving the firm:

Before Leaving Boeing: Review your Boeing VIP (401k) contributions, how much and where it is going, Roth vs Non-Roth- in some instances, you can convert funds to a tax-free account and increase your retirement well-being without additional taxes or penalties.

After Leaving Boeing: Most employees are too heavily invested in Boeing stock both in and outside of retirement accounts. They need to re-examine overall goals and have their investments align with those goals.

Q: For Boeing employees approaching retirement age, how do you recommend they prepare to make the transition from living off their salary to relying upon other sources of income?

Paul: Here are 5 recommendations I encourage Boeing employees to consider as they approach retirement age:

  1. Review your budget. Look at the expenses and which ones will continue into retirement.
  2. Try living 3 months prior to retirement on what your expected income expects to be (set aside extra for lost employee perks)
  3. Include what your hobbies might be in the budget- skiing, woodworking, travel- make sure it is realistic.
  4. Review your goals and make sure they are feasible, taking into consideration increased health expenses as you age and other needs.
  5. Look to reduce risks- a big downturn or a single lawsuit can significantly reduce your net worth.

Q: For Boeing employees who have managed their finances on their own to this point, what would you suggest they consider to help them decide if they should begin working with a financial advisor at this stage in their lives?

Paul: No one person has all the answers. Just like no one person builds an entire jumbo jet by themselves, from the design work to sourcing materials to assembly, to FAA certification. Collaborating with others can help save time and avoid pitfalls that have tripped up others.

Note: Most life cycle funds have many of the same holdings, so your concentration in a handful of companies can be much higher than advisable.

Get to Know Paul Doak, Financial Advisor for Boeing Employees:

View Paul’s profile page on Wealthtender or visit his website to learn more.

Q: What are some of the unique financial planning challenges you commonly see among your clients who are Boeing employees, and how do you help them overcome these obstacles?

Paul: The various pension benefits Boeing employees have depending on their length of service and hire dates. Some Boeing employees have 3 pensions- depending on the length of service and position.

Just about all Boeing employees have an over-concentration of Boeing stock, which increases the risk unnecessarily. There are better ways to accomplish your goals with less risk and better margins.

Q: What questions do you recommend Boeing employees ask financial advisors they’re considering hiring to help them decide if they’re a good fit?

Paul: I encourage Boeing employees to consider asking these questions when they’re speaking with an advisor they’re thinking about hiring:

  • Is this someone I can sit down and grab a coffee with that will listen and look after me and my concerns? 
  • Are they understandable, and do they communicate well?
  • Does my spouse understand them?

Q: For highly compensated Boeing employees and executives, are there any special benefits you believe it’s important to take into consideration when preparing their financial plan?

Paul: Every situation is different. Many people think there are set answers, and there are not. It is like saying all metals are the same, so let’s just build a plane out of cast iron- not very practical.

Q: Is there a particularly memorable experience or a moment you recall with a client who worked at Boeing when you realized they have unique opportunities and circumstances when it comes to their financial planning needs?

Paul: Yes, I worked with one engineer who was several years out from retirement. We started working together, and it was noticed that he could make a couple of tax-free and penalty-free changes that resulted in over $50,000 being moved from a taxable account to a tax-free account- greatly reducing future tax bills and helping the retirement picture.

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Quick Facts & Resources for Boeing Employees

Boeing Quick Facts & ResourcesDetails / Useful Links
How much do Boeing employees Make?View Boeing Salary Research on Glassdoor
Where can I learn more about careers at Boeing?Visit boeing.com/careers/
How many people work for Boeing?Boeing has over 140,000 employees worldwide (Source: Boeing)
What is the ticker symbol for Boeing stock?The Boeing ticker symbol is BA.

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About the Author
Brian Thorp, Founder and CEO of Wealthtender profile picture

Brian Thorp

Founder and CEO, Wealthtender

Brian and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

Connect with Brian on LinkedIn

To make Wealthtender free for readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a conflict of interest when we favor their promotion over others. Learn more. Wealthtender is not a client of these financial services providers.
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