How to Maximize Your Bonus (Ep. 8)

For those who receive a year-end bonus, it can be tempting to splurge or treat yourself. But what if that extra money could help you check off a major financial goal??

In this episode, Jamie Hopkins and Kate Duffy dive into the psychology behind bonuses and why timing, taxes, and emotions matter more than you think. They share practical strategies to turn windfalls into long-term wins, covering everything from tax withholding and automation to emergency funds, Roth accounts, and 401(k) contributions. Plus, they break down how to approach bonuses at different career stages so you can make the most of every dollar.

Key takeaways:

• Why we view bonus money differently, and how to avoid emotional spending traps
• The truth about bonus tax withholding
• Smart strategies for using bonuses: retirement accounts, 529 plans, charitable giving, and emergency funds
• Career-stage tips from early professionals to executives with equity compensation
• Why planning ahead with an advisor beats making spur-of-the-moment decisions

Connect with Bryn Mawr Trust:

• 833-973-7633
• LinkedIn: Bryn Mawr Trust
• Website: Bryn Mawr Trust

Connect with Kate Duffy:

• LinkedIn: Kate Duffy

Connect with Jamie Hopkins:

• LinkedIn: Jamie Hopkins