Malaysia Financial Blogger | Financial Freedom Ideas | imDavidLee.Com

Sensible Ways to Use Your Year End Bonus

Most of my friends plan to invest in property when received their year-end bonus. It would be great to go for property as its potential for capital appreciation and a healthy rental yield. I have been influenced by them and planned to use my future bonuses to invest in a residential property soon.

Besides that, I also plan to set aside about 30% of my monthly income to go towards stocks and unit trusts investment. According to Malaysian Employers Federation in its year 2011 MEF Salary Survey, it was reported that the year-end bonuses are reducing at the average 2.13 months forecast for executives in year 2012. Therefore, it’s time for us to spend it wisely during this recession period.

You would need to have a financial plan if you have a great pool of money coming your way and you are not sure how to put it to good use. You can do this on your own or consult financial advisor for assistance.

Tips on Using Your Spare Cash

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Performance Based Bonus

Just like last year, it’s no difference for the bonus payout time again. Staff performance appraisal and review once again will determine the level of bonus you will get. Besides that, the bonus payouts also depend on how well the firm performs. In the other words, it’s not guaranteed paid for employees.

However, giving out a bonus is very subjective. Therefore, it would be inevitable that employees are given a standard bonus. This is because each individual has different perceptive; your manager may rate their employees from their own sets of capabilities instead of their subordinates.

From management perspective, if the company made a profit in the last year and they’d like to recognize their potential employees by rewarding them with a bonus. However, we also know that not every employer will give 100% and sometimes it might cause employees dissatisfaction.

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Do You Get Year End Bonus From Your Employer?

Year 2008 & 2009, i did not get any year end bonus from my job accomplishment but this year will be the first time I’m at a company where I can get an annual bonus, but I’m not holding my breath that anything is coming my way. I just have plan on how to get it and try to perform very well at current company in order to accomplish my goals.

In Malaysia, bonuses are taxed just like our regular salary. Started from this year, my current company will give out bonus based on employee performance merit and i found that this is a good motivator. I consider myself very lucky to work under such a pay scale company and find myself very rarely complaining about my job. Sometimes, I might work late or a bit pressure when I need to have very high job satisfaction.

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