The deadline to receive the payment of the mid-year bonus is approaching in just over 15 days, so we will tell you how you can make the most of it. The deadline for the first installment of the legal bonus payment is on June 30th, so it’s worth thinking about how to use that money wisely.
For the bonus payment, employees should keep in mind that if the company makes the payment after the deadline, it could generate an additional amount of one day’s salary for each day of delay.
Now, although there are many options to invest your bonus, the best one will depend on your financial goals, risk tolerance, and personal preferences.
Investment in Time Deposit Certificates (CDT)
Despite the low interest rates of the Central Bank, Time Deposit Certificates (CDT) remain a secure investment option that provides security, profitability, and liquidity, in addition to being a lower-risk alternative.
Time Deposit Certificates are a relatively safe investment, as your money is protected by the Deposit Guarantee Fund up to a certain amount. This means that in case the bank goes bankrupt, your investment would be safe.
In addition, these deposits also offer a fixed interest rate, which means you know exactly how much money you will earn at the end of the term. This can be an advantage if you are looking for a more predictable and stable investment for your bonus.
For example, if you earn the legal minimum wage, you should receive $650,000 bonus, which can translate into an average return of 9.80% E.A. at 180 days or 9.50% E.A. at 360 days.
Investment in Stocks
If you are looking for a higher-risk investment with your bonus, buying stocks becomes a viable option, considering that the value of stocks can fluctuate significantly due to various factors, such as the economic situation of companies, market conditions, and unexpected events.
Entities like Grupo Bancolombia and Davivienda Corredores share analyses of the most attractive stocks to invest in the Colombian Stock Exchange, which you can refer to if you are considering this option.
Purchase of Dollars
Buying dollars becomes a high-risk option. However, according to some experts, if the person has a clear goal for buying this currency, it can be beneficial to diversify income there. However, it is important to note that the US currency is currently reaching highs not seen since last year.
Extra Debt Payments
Carlos Ariel Alzate, Dean of the Faculty of Economic and Administrative Sciences at the U. de San Buenaventura, recommends saving for emergencies with the bonus and making «extra payments to those financial debts, as interest rates are a bit high and that would help save a good amount of money in interest payments.»
Investing in education can be another alternative for investing the bonus
Investing in diplomas or other online courses can generate long-term profitability, as it not only helps expand your personal knowledge but can also open many doors in the future. Experts believe that education is an investment that does not expire or lose its value over time, but rather, as you acquire more knowledge, skills, and experience, its value increases. Therefore, education is a secure investment that can generate a great return in the future.