The Smart Move: Should You Add Your Bonus to Your 401k?

<p>Receiving a bonus is always exciting, but what should you do with the extra money? One option is to add it to your 401k, which can be a smart move for your long-term financial health. But, before you make a decision, it&rsquo;s important to consider the pros and cons.</p> <p>One of the main benefits of adding your bonus to your 401k is that it increases your savings for retirement. By contributing more money to your 401k, you&rsquo;re able to take advantage of compound interest and potentially retire with more money. Additionally, many employers offer a match for 401k contributions, which can help you save even more for retirement.</p> <p><a href="https://medium.com/@adm.moneymastery/the-smart-move-should-you-add-your-bonus-to-your-401k-46f3fb529143"><strong>Learn More</strong></a></p>
Tags: Smart Move