Planning for your wealth should begin as soon as your executive career starts. Missteps or missed opportunities early on may significantly compromise your financial success in the years to come. Whether you're on an upward trajectory at a private firm or a public company, you face unique wealth management challenges at this phase of your career.

A solid financial foundation is critical to constructing a successful future. Here are three basic measures to help you begin building one:


Identify Your Long-Term Goals

Keep your goals as aspirational or concrete as desired. Ask the big, basic questions about your career and your life. And don't forget to consider the future of your family.


Understand and Make the Most of What You Have

Learning about your retirement plan, compensation benefits, earnings and investments will help you optimize them and leverage them later on. You should take stock of your liabilities, as well.


Create a Long-Term, Integrated Plan

Incorporate realistic projections for your income and expenses, the possibility of inflation, potential health care costs and other future factors that may force your plan to evolve over time.

“Many executives at the start of their career lack long-term goals and plans. The consequences of such inaction can be ruinous.”
Make sure your plan is flexible, so it can adapt and change as your career matures
Get specific about important career milestones

Look ahead and think about when you may want to consider a change in the direction of your career, or when you might retire. This can help structure your thinking.

Have a "total balance sheet" mindset

Being mindful of both assets and liabilities can help you more readily spot opportunities where a credit strategy offers the most advantageous way to access funds.

Set a mid-term target to enable long-term success

Don't just think about the endgame, think about what actions you can take along the way that can help your plan evolve into what you want it to be.

  • Disclosure

    This material is provided for illustrative/educational purposes only. This material is not intended to constitute legal, tax, investment or financial advice. Effort has been made to ensure that the material presented herein is accurate at the time of publication. However, this material is not intended to be a full and exhaustive explanation of the law in any area or of all of the tax, investment or financial options available. The information discussed herein may not be applicable to or appropriate for every investor and should be used only after consultation with professionals who have reviewed your specific situation.BNY Mellon Wealth Management conducts business through various operating subsidiaries of The Bank of New York Mellon Corporation. ©2016 The Bank of New York Mellon Corporation. All rights reserved.