What Will You Do With Your Bonus or Windfall? – Pierson Wealth Management

While many of us have been conditioned to expect a regular bonus from work or some other gift of money, either from living relatives or through an estate, there is still a big thrill when circumstances drop a big pile of money into your life. What would you do with yours?
Let’s examine your choices for your windfall.
Thinking About the Future
• Review Your Accounts — Reviewing your contributions to your personal or workplace retirement accounts is one way to prepare for the future.
• Invest — Perhaps it might be time to consider some sort of investment. We can discuss your options.
• Emergency Fund — If you don’t have one, now’s a great time to start it. If you do have one, it might be time to review.
Debt
It casts a long shadow, so it’s always nice to get a bit of sunshine instead.
• Consider Paying it Down or Off — Using your windfall to pay off any high-interest debts.
Family
If you’re raising kids, you know some things are coming up, either college or something else.
• College Plans — If saving for your child’s college education is a top priority, you may want to use part of the windfall.
• Saving and Investing — Remember that the future for your loved ones goes well beyond immediate concerns.
Saving for Big Purchases
You might have a big purchase in mind. We can discuss any of them, whether they are listed here or not.
• Down Payment on a Home — Many people’s goals include home ownership. If you want to buy a home or are already well on that path, your bonus could get you on that goal.
• Vacation — You know you have one in mind! It’s the vacation to end all vacations, whether it requires a giant jet or a private yacht. Talk to me about how we can start a place to set aside money for this goal.
A windfall provides an opportunity to work toward one of your goals. I look forward to speaking with you and answering your questions about any of the options above.
Pierson Wealth Management is located at 28368 Constellation Rd., Ste. 396, Santa Clarita, CA 91355. Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic# 0C92500.

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