How will you spend your end-of-the-year bonus? Do you want to use it in a way that maximizes its value to protect your growing wealth? If so, here are a few ways to do that no matter what size your bonus is this year.
1. Max Out Retirement Contributions
Give your retirement planning a shot in the arm by contributing your bonus — or enough of it to hit the contribution limits — to any retirement plan.
2022
- Consumers often make inaccurate assumptions about wealth management that make it more difficult for them to achieve their financial goals. The following are six things you shouldn't assume about your own personal wealth management needs. Hiring a wealth management professional isn't important when you're young. The younger you are when you start making plans for your financial future, the better off you will be. While you might have accumulated more wealth at an older age, that doesn't mean that you should put off thinking about wealth management until you're nearing retirement.
- Retirement investing is vital for nearly all Americans. But once you open a retirement investment account, should you also open a taxable investment account? The answer is probably yes, and here are a few of the most important reasons why. 1. To Get Different Options. Retirement accounts — especially those offered by employers — usually provide limited choices for investments. While this simplifies retirement saving and encourages people to sign up, it means you can't tailor your investments as much.
- If your credit score limits your success in landing a job or securing incredible loan rates, it's time to hire credit repair services. Your credit rating demonstrates your capacity to repay a debt. If the score is low and uninspiring in a lender's eye, it lowers the odds of getting a credit card or your dream job. As a layman, you may not understand the credit score restoration process. But a reputable credit repair outfit disputes incorrect and outdated financial information to redeem your rating.