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Additional Posts in Accounting
Who is going to Discover in December?
Wiley or Gleim which one is better?
Chief
I am WAY TOO nice to be in public accounting….
Taking BEC tomorrow... any suggestions/ advice?
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I spend it on the federal government and the state government and i take what’s left to hope and pray one day it’ll buy me a house. hbu?
Stocks
Cosmetic surgery
Good for you .
Use any annual bonus as extra payments on my mortgage. 😊
Clearly a hypothetical question
Depends on your financial status. Here are the priorities I advise:
1. Emergency fund of at least 3, preferably 6 months living expenses (use a HYSA to maximize interest earning for compounding)
2. 401k contribution to max employer match
3. Roth IRA
4. Other mid-range investing based on risk tolerance (I use Groundfloor real estate debt platform)
Tell me more about your groundfloor experiences
Definitely depends on your current financial situation. My favorite thing to do with a bonus is to plan a vacation with it - feels good to think that I got a cruise as a bonus. BUT that's only if everything else is in a good spot - no debt except mortgage, no credit card bills or student loans, adequate emergency fund. If any of those things aren't in a good spot....I'd apply most of the bonus to one of those, and probably still treat myself to a weekend away or some modest treat.
Then definitely a vacation :)
Classy problem! I’ve never been so blessed but I would invest most or all
A birkin obviously
Obvi!
I'm using it to fix my car.
What bonus?
You don’t! You put it in a Roth IRA.
You can’t put 10k or more into an IRA
Principal mortgage payments
How is this a question?
That’s a pretty genuine question
HYSA to save for when we go down to a single income while I stay at home with the babies for a while.
At a bare minimum, invest the same percentage as you always do. I try to invest at least 50% and then spend the rest on something fun but non essential for my wife or I. In the past we’ve gotten a golf simulator and a garden.
This year will probably invest half and save a good portion of the rest for a new car since both our cars are getting on the older side.
15% would go to my 401(k)
Part of it would probably go my emergency fund and some sinking funds within my budget that need it.
Not sure about whatever is left
Max out HSA contributions
What’s the benefit here?
Must be nice. I was lucky to get a 2k bonus and a 1k raise. Thanks Norhern Trust. Very cheap company. Fat cats above get millions though for yapping a bit and taking clients out to lunch every day. Merica!!!
Bought a new car, BMW. No other debt so purchased what I always wanted.