We receive our working paychecks in a very systematic way, often every week or every other week. Well, what do we do when we get a year-end cash bonus, at times in the thousands of dollars all at once? What is the best way to use it?
In this episode, we'll talk about some important things to think about when receiving a year-end bonus, as well as some common and uncommon strategies to consider. We want this show to help you think strategically about your year-end bonus. Whether it's paying off debt, saving for the future, or giving to others, the key is to make decisions that align with your financial goals and values.
Here's some of what we discuss in this episode:
- What would be the top three ways to spend the year-end bonus?
- If you don't have debt to pay off, consider boosting your emergency savings.
- Some investment ideas if you want to grow that bonus money.
- Using the bonus for gifting during the holidays.
- What if you are using an IRA vs a Roth IRA?
Contact:
If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/
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