By Mike Gibbons, RICP®

Are you looking for more information on the Abbott Laboratories/AbbVie benefits package? Do you want to know the details of each option and how they work together to enhance your financial plan? We are specialists in the Abbott Laboratories/AbbVie benefits and help employees to understand which options are right for their specific needs.

Company History

Abbott Laboratories, headquartered in Abbott Park, Illinois, has been innovating healthcare products since 1888. The company is best known for product lines such as Pedialyte, Similac, and Ensure. Abbott Laboratories produces a wide variety of solutions in the areas of cardiovascular and diabetic care, nutrition, neuromodulation, and drug development—you or your doctor may have used a number of their products without knowing the company’s name. Abbott increased its focus on research and development under the leadership of then CEO George Cain, who led the company from 1958 until his death in 1972.

The Abbott Laboratories ESPP

If you had invested $1,000 in Abbott stock at the beginning of 1990, your investment would have been worth just over $40,000 at the end of 2020. (1) While past performance is not an indication of future results, the company’s track record underscores the importance of holding assets for the long term and the power of compounded returns.

The most obvious benefit of the Abbott Laboratories/AbbVie ESPP is that you can buy stock shares at a discounted price. But how will this affect your overall financial plan? And will the tax treatment be favorable? Have you considered how this will affect your overall portfolio diversification? It’s important to evaluate your Abbott Laboratories/AbbVie ESPP as a piece of your overall financial puzzle.

Company Stock and Your Retirement

Stock should be considered as one tool in your retirement toolbox. The question of how much stock you should own depends on your stage of life, proximity to retirement, family situation, concentration level of stock as contrasted with other types of investments, and your individual retirement goals. As part of our role as financial advisors, we show our clients a comprehensive picture of how company stock and other holdings can help you pursue your financial goals. In some cases, it may be necessary to diversify away from company stock, or it may be advantageous to purchase more. It is important to examine the full picture on an annual basis.

We Are Here to Help

We have worked with numerous Abbott/AbbView employees and bring to the table extensive familiarity with the company’s various benefit packages. If you work for Abbott/AbbVie or if your employer offers an employee stock purchase plan, call (224) 419-5550 or email me at Mike@gibbonsfinancialgroup.com to schedule a complimentary consultation. And be sure to join our free webinar, Retiring Early From Pharma.

About Mike

Michael J. Gibbons is founder and president of Gibbons Financial Group, an independent advisory firm providing custom-tailored financial planning and investment management services to pharmaceutical and healthcare professionals and their families. Mike has over 25 years of experience and spends a significant portion of his day working with pre-retirees and retirees, focusing on asset management, Social Security and pension planning, as well as retirement income preparation. 

Mike has degrees in both business and psychology from Lake Forest College and currently holds his Retirement Income Certified Professional (RICP®) designation from the American College. Mike was named a Five Star Wealth Manager for 2016 and 2018* Mike is heavily involved in his community, having served on the Village of Gurnee Police Pension Board as a Community Volunteer and the St. Patrick’s Parish Financial Board. When he’s not working or volunteering, Mike loves playing golf and spending his time with his wife and children. To learn more about Mike and how he can help you, connect with him on LinkedIn, visit his website, and register for his free webinar, Retiring Early From Pharma, created specifically for professionals retiring from the pharmaceutical, biotechnology, and healthcare industries.

*Award based on 10 objective criteria associated with providing quality services to clients such as credentials, experience, and assets under management among other factors. Wealth managers do not pay a fee to be considered or placed on the final list of 2016/2018 Five Star Wealth Managers.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

Stock investing includes risks, including fluctuating prices and loss of principal.

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(1) https://www.macrotrends.net/stocks/charts/ABT/abbott-laboratories/stock-price-history