Your Bonus Arrived! (Part 1): How to Handle Uneven Cash Flow
by Keith Spencer, Spencer Financial Planning
Bonuses. They’re the best, no?
A nice infusion of cash that comes in and opens up so many opportunities.
It’s bonus season for many of my clients, with bonuses being paid out in April, June, and/or August. So we’re working through what to do with the cash.
Let’s have a go at a quick two-part series about two aspects of bonuses:
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Part 1 (this post): A common issue people run into is how to manage the “cash flow” aspects of receiving a large bonus. In this post, we’ll look at a couple of different ways to deal with the issue of having uneven cash flow, illustrated with specific examples.
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Part 2: In Part 2, we’ll go into more detail about different ideas of what to do with the money.
How to Make a Financial Plan That Adapts to Your Dynamic Life
by Eric Roberge, Beyond Your Hammock
When you make a financial plan, it might be outdated the moment you put it on paper.
That’s because change is inevitable. In fact, it’s the only constant you can rely on. Still, resistance to (or even denial of) change seems like a part of human nature—especially when things are going well.
Who wants to sit around thinking of all that could change and go wrong tomorrow when life looks really great today?
But if you want to maintain the great position you find yourself in now, you have to account for the reality that life is unpredictable. Random chance can throw you for a loop.
Financial Self-Care: Empowering Your Future Self
by Stacy Miller, BayView Financial Planning
Studies show that women are very concerned about running out of money in retirement. Unfortunately, this worry can be justified, but there are many things we can do to take care of our future selves and narrow the looming gender wealth gap.
So, with all the cards stacked against us, how can we find future financial security? It starts with taking action. Empowering yourself can be your #1 source of confidence when money is your #1 source of stress.
Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.
