What do y'all typically spend your bonuses on? Will this year be any different given the economy and markets

not hedge said:

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What do y'all typically spend your bonuses on? Will this year be any different given the economy and markets

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my Fidelity Brokerage account

this year as I am working overseas for four months in the summer the bonus goes to recoup the payments to AIRBNB I have already had to book

either 31 December or 15 January

The same thing I do with every bonus: give some of it to my family, and then invest the rest.

March for us, but it will be going to our property taxes and insurance, and then I'll take some to spend on a vacation this summer. The rest will go to Roth IRAs, followed by savings.

Paying off some debt (car and zero percent stuff we had done) to help cash flow now that we have one in daycare.

Probably sock it away for property taxes now that we have two bills.

Charismatic Megafauna said:

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Does anybody actually get a Christmas bonus? I have always gotten mine (annual/performance bonuses) in Feb-Apr.

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My stock bonuses vest in January and my annual performance bonus is March timeframe as well.

Don't think I've gotten a Christmas bonus since 2012.

But to answer the question, this year 20% will go to stock accounts, probably 10% to kid's savings/college account, and 70% to a savings account to build a house.

Charismatic Megafauna said:

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Does anybody actually get a Christmas bonus? I have always gotten mine (annual/performance bonuses) in Feb-Apr.

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I get mine 2nd week of Dec.

Our profit sharing hits in March (into a retirement account)

I'm keeping most of my bonus in savings this year. My wife left her job this summer and took up something where she decides when and where she works, but we lost about $1500 a month net in doing so, so instead of trying to cut out $1500 a month, we'll have it in savings on Jan 1 to use every month for 2023. Basically using it as income, which I hate to do, but at least I'm getting it ahead of time, and not relying on it at end of next year.

With what's left over, I'll pay down/off our newly acquired travel trailer, our only debt (with interest) besides our mortgage.

Last year I put 75% of my net bonus in the stock market.. not gonna do that again all at once!

TXTransplant said:

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Charismatic Megafauna said:

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Does anybody actually get a Christmas bonus? I have always gotten mine (annual/performance bonuses) in Feb-Apr.

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Same here. Payout is typically announced in early Feb, but check doesn't come until the third week of March. Bonus is based entirely on the company's previous year's performance, so it wouldn't make sense to pay out before the end of the year.

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I would say profit sharing is based on company performance; ours pays in March.

But a bonus should be based on (maybe not entirely, but mostly) individual performance, and everyone likes that before xmas time!

Bonus finally came today.

After 6 years of increasing year over year.. it appears maybe I've about reached the max, as it is the same as last year.

Can't complain, gross is 3.5 months' pay. I feel grateful to be able to get a nice lump of cash at the end of the year.. as I had several jobs early on in my career without them.

Into savings it goes!

Come March, we get our profit sharing.. another 15% of salary, which takes into account this bonus!

Threw all mine into HYS, taxes on bonuses suck ass.

62strat said:

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TXTransplant said:

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Charismatic Megafauna said:

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Does anybody actually get a Christmas bonus? I have always gotten mine (annual/performance bonuses) in Feb-Apr.

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Same here. Payout is typically announced in early Feb, but check doesn't come until the third week of March. Bonus is based entirely on the company's previous year's performance, so it wouldn't make sense to pay out before the end of the year.

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I would say profit sharing is based on company performance; ours pays in March.

But a bonus should be based on (maybe not entirely, but mostly) individual performance, and everyone likes that before xmas time!

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We aren't public and don't keep any profits (there is a good reason, but I probably can't explain it without divulging who I work for). So, no profit sharing for us. Our bonus metrics are directly tied to company (and site or department) performance.

Bonuses next year will be partially performance based, but that will prob only apply to a small sub-set of employees under a specific set of circumstances. The vast majority will continue to receive the same target bonus.

Promotions (and any accompanying salary bump), which obviously are based on individual performance, are now awarded at the end of the calendar year.

Yea that's what I meant to say

From a "bonus" perspective that's the timing for ours as well. We receive a "Christmas Bonus" , if board approved, in the form of an additional paycheck in Dec.