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Floor & Decor Holdings employees: Managing an Inheritance

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Floor & Decor Holdings employees handling an inheritance should weigh the emotional cost of their legacy against the financial gain. A financial advisor like The Retirement Group can help align such large assets with long-term retirement and investment goals so decisions today reflect past and future needs.

Getting an inheritance means much more than just receiving money. It is an opportunity to protect your family financially. We advise Floor & Decor Holdings employees to review their financial plans now so that their inheritance fits into their existing strategy and enhances their future prospects, according to The Retirement Group advisors.

We will discuss: 'In this article:

1. The Legal & Tax Implications: Understanding inheritance laws and the need to consult with legal and tax professionals is important.

2. Emotional and Strategic Financial Planning: Emotional aspects of receiving an inheritance must be balanced against strategic financial planning for the long term.

3. Retirement and Wealth Management: Assessing the impact that an inheritance may have on retirement plans and wealth management in general, with an eye toward Floor & Decor Holdings employees.

Heirloom wealth may be a curse or a blessing. Even if you suspect a relative has planned to include you in their will, you may have overlooked some other aspects of the inheritance process. Here are some considerations if the event does occur.

Ask a lawyer or tax expert before making any decisions about inheritance—this is informational only and not a substitute for real advice.

Take your time. If someone cared enough about you to leave you an inheritance, you may need time to mourn their death. This is vital, but most of the bigger decisions regarding your inheritance will probably wait. Sometime later you may be better able to make decisions. Neh, don't go it alone. So many laws, options and dangers exist that an expert may be necessary.

Consider your own family. An inheritance may change one's own financial strategy. Make sure you consider this.

A tax collector could come to visit. The tax consequences if you inherited an IRA are important. Distributions to non-spouse beneficiaries are required by the end of the tenth calendar year following the year of death of the account owner under the SECURE Act.

The new rule also does not require the non-spouse beneficiary to withdraw funds within 10 years, as I have learned as a Floor & Decor Holdings employee. The money must be withdrawn by the end of the tenth calendar year following the inheritance, however. Others may include the surviving spouse of the IRA owner, disabled or chronically ill individuals, people no older than the IRA owner and minor offspring of the IRA owner.

Stay informed. The estate laws have changed many times since you thought they were the same.

Keep in mind what you should be doing in your situation. The sentiment is understandable—you may want to leave your inheritance as it is out of respect for your relative. What if the inheritance is not right for your situation now? A financial professional can help you decide whether the inheritance meets your objectives, time horizon, and risk tolerance.

Added Fact:

A study by Merrill Lynch in 2021 suggests Floor & Decor Holdings employees handling an inheritance should consider the impact on their retirement plans. Of those who received an inheritance, 42% said it affected their retirement timeline, the study found. Some retired earlier than expected and some worked longer to cash in on the inheritance. That insight illustrates why Floor & Decor Holdings employees considering retirement should consider how an inheritance might affect their financial goals, lifestyle decisions, and overall retirement strategy. An integrated approach combining the inheritance and long-term retirement plans may help with informed decision-making.

Added Analogy:

Managing an inheritance as a Floor & Decor Holdings employee feels like receiving an heirloom—an extremely sentimental piece. Like you would handle such an heirloom carefully, you should handle your inheritance strategically as well. Think about holding that heirloom and realizing its significance in your life and in your family history. As you would consult experts on art preservation to determine its true value and to ensure its long-term preservation, you should also consult lawyers, tax, and financial professionals about how to manage your inheritance. Consider your inheritance a treasure—honor the past while making sound financial decisions for the future. Like an heirloom that tells generations of stories, your inheritance should be a part of your overall wealth management strategy that will live on indefinitely.

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Articles you may find interesting:

Sources:

1. Senior Strong 'Understanding Inheritance Tax Impact on Retirees.' Senior Strong , 2023, www.seniorstrong.org . Accessed 24 Feb 2025.

2.Accounting Insights 'Managing Your Inheritance: Strategic Financial Planning Guide.' Accounting Insights , AccountingInsights Team, 2023, www.accountinginsights.org . Accessed 24 Feb 2025.

3. Kiplinger Waggoner, John. 'Don’t Count on an Inheritance for Your Retirement Plan.' Kiplinger , 27 Jan 2025, www.kiplinger.com . Accessed 24 Feb 2025.

4. CreditBrite 'How to Navigate Retirement Planning After Inheriting Assets.' CreditBrite , 2023, www.creditbrite.com . Accessed 24 Feb 2025.

5. Kiplinger’s Free E-Newsletters 'Investing, Taxes, Retirement.' Kiplinger’s Free E-Newsletters , 2025, www.kiplinger.com . Accessed 24 Feb 2025.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Floor & Decor Holdings offers a 401(k) retirement plan with a company match, and employees are eligible to participate after six months of employment. The company matches employee contributions at a rate determined annually, which was approximately 29.35% in 2022. Additionally, Floor & Decor has an Employee Stock Purchase Plan that allows employees to purchase company stock at a discounted rate. There was no specific information found on a defined pension plan offered by Floor & Decor Holdings in 2022, 2023, or 2024. The focus appears to be on their 401(k) plan and other retirement savings options. The company's benefits and retirement plans emphasize financial wellness and employee investment in their future.

Restructuring Layoffs: In 2023-2024, Floor & Decor has continued to expand its operations, opening new stores and studios, which suggests stability and growth rather than restructuring layoffs. However, the company has not announced any significant layoffs during this period, focusing instead on growth initiatives like the opening of new locations, including its Houston Design Studio in 2022 and continued expansion into 2024. Importance: This focus on expansion rather than layoffs is crucial for understanding the company's current economic resilience, especially considering the broader economic and investment climate where many companies are reducing their workforce. It’s essential to monitor for any future changes as economic conditions evolve.

Floor & Decor Holdings (FND) offers its employees various stock options and Restricted Stock Units (RSUs) as part of its compensation package. These are detailed in the company’s SEC filings and annual reports. The stock options and RSUs available to employees at Floor & Decor Holdings are part of the 2017 Stock Incentive Plan. This plan allows eligible employees, consultants, and non-employee directors to receive RSUs, which are units that represent shares of the company's common stock. These RSUs typically vest over a period of time, depending on continued employment or meeting specific performance goals. For example, the RSUs might include a provision for dividend equivalents, where employees can receive cash payments equivalent to dividends paid on the company's stock during the vesting period (SEC.gov) (Floor & Decor Holdings, Inc.). The latest updates to these stock options and RSUs for 2022, 2023, and 2024 show that the plan continues to be a significant part of Floor & Decor’s employee compensation strategy. Employees who meet specific eligibility criteria, such as length of service and job level, are offered these equity incentives. The detailed terms, including vesting schedules and eligibility, are outlined in the company’s annual 10-K filings (Last10K).

Floor & Decor Holdings offers a comprehensive set of health benefits to its employees, which includes medical, dental, and vision insurance, as well as various wellness programs aimed at promoting a healthy lifestyle. The company's health plans typically involve partnerships with major insurance providers, allowing employees access to a wide network of healthcare services. In terms of specific healthcare-related terms, Floor & Decor commonly uses terms such as "HSA" (Health Savings Account), "PPO" (Preferred Provider Organization), and "EAP" (Employee Assistance Program) within their benefits communications. These acronyms represent essential components of their healthcare packages, designed to give employees flexible and robust options for managing their health expenses.

Additional Articles

Check Out Articles for Floor & Decor Holdings employees

For more information you can reach the plan administrator for Floor & Decor Holdings at , ; or by calling them at .

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