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How to Handle a Bonus
Manage episode 386737332 series 3262460
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Strategically using a bonus can boost your financial health, increase your peace of mind, and even enjoy the fruits of your labor with limited regret.
Instead of spending a bonus all at once, consider intentionally distributing it to different areas of your financial plan. This includes paying down debt, funding an emergency account, investing in retirement plans, investing in children's future (like a 529 college savings plan), and even some self-celebration.
A balanced wealth management plan, considering lifestyle and financial objectives, allows for better decision-making, stress reduction, and faster progress toward financial goals. It's crucial to ensure that the allocation of resources aligns with your purpose both personally and financially.
For show notes and resources discussed in this episode, visit tammacapital.com/122.
For more episodes, go to tammacapital.com/podcast.
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And feel free to email Paul at pfenner@tammacapital.com with any feedback, questions, or ideas for future guests and topics.
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