For workers who are used to receiving their paycheck every other week, the calendar is aligned in January to give some biweekly wage earners “bonus” third paychecks during the year. For 2026, the bonus months are either January and July (if the first paycheck was paid on Jan. 2), or May and October (if the first paycheck was paid on Jan. 9). Having an extra paycheck in a month can help you reach your financial goals more quickly. You can use the money to: Or you can apply this extra paycheck towards mu ...

Group 1 - The start of a new year is an opportune time for individuals to set financial goals for the upcoming year, including aspirations for home purchases, debt repayment, or enhancing retirement savings [1][7] - A significant strategy for improving retirement savings in 2026 is to immediately allocate any incoming raises into IRA or 401(k) plans [2][3] - Automating larger contributions to retirement savings from the beginning can help individuals avoid the temptation to spend their raises on non-essential items [4][5] Group 2 - In addition to banking raises, individuals should ensure they are aware of their workplace 401(k) match and aim to maximize this benefit to avoid missing out on free retirement funds [6][8]

Gifting Strategies - Discusses tax-savvy and heartfelt gift ideas for kids, adults, and charities [1] - Explores financial gift ideas for friends and family [1] - Addresses contribution limits and tax implications for retirement accounts and HSAs [1] - Explains how charitable giving impacts taxes and deduction limits [1] Financial Planning for Children - Highlights the impact of financial gifts on a child's future [1] - Provides guidance on saving for a child's education and future retirement [1] - Suggests general financial gift ideas for children and how to pick them [1] Charitable Giving - Introduces Fidelity Charitable and donor-advised funds [1] - Details what assets can be donated to charity [1] Self-Investment - Encourages buying gifts for oneself and financially "treating yourself" [1]

Financial Goals Assessment - Five benchmarks can help determine progress toward financial goals [1] - Measurement is needed to evaluate financial success [1]

Core Insights - Personal finance influencer Humphrey Yang emphasizes that having too much cash in a bank account can be detrimental to financial health, suggesting that individuals should manage their cash reserves wisely to avoid negative consequences [1][2]. Group 1: Recommended Cash Management - Yang advises maintaining an emergency fund that covers three to six months of expenses, along with funds for short-term goals, and suggests keeping this in a high-yield account [3]. - Any cash exceeding the emergency fund should be allocated towards specific savings goals or investments, with the guideline that only money not needed within the next five years should be invested [3]. Group 2: Risks of Excess Cash in Bank Accounts - A high bank balance may lead to increased spending, as individuals might feel more inclined to splurge on non-essential items [4][5]. - There is a risk of missing opportunities for financial growth, as traditional checking accounts offer minimal interest (around 0.07%), leading to potential losses in growth compared to higher-yield investments [7][8].

Investment Fundamentals - Investing can help individuals achieve short-term and long-term financial goals [1] - It's important to understand key investing terms before getting started [1] - Determining the right asset mix is crucial for investment success [1] Investment Options & Management - Various investment management options are available [1] - Investors should consider different investment account types [1] - Common investment funds include stocks, mutual funds, and ETFs [1] - Understanding the difference between financial planning and professional investment management is important [1] - Managed accounts offer different types of services [1] Retirement Planning - Increasing retirement contributions by 1% annually can have a significant impact [1] Fidelity Investments - Fidelity Investments provides resources for placing first trades [1] - Fidelity Investments encourages engagement through various social media platforms [1]

Behavioral Finance Insights - Fresh start moments, like New Year's or Mondays, provide increased motivation for setting financial goals [2][3][4] - These moments create a disconnect from the past, fostering optimism about future achievements [2] - Fresh start dates can trigger an openness to making positive financial changes [6] - The fleeting motivation from fresh starts is best utilized for "set it and forget it" decisions, such as recurring transfers to savings or retirement program enrollment [6] Practical Applications - Individuals are encouraged to align financial plans with fresh start moments to leverage temporary motivation [6] - Setting up recurring savings or retirement contributions during these times can help maintain long-term financial habits [6] - While fresh starts can initiate change, they are generally insufficient for repeated decisions without a "set it and forget it" mechanism [5]

Core Idea - Time ownership is presented as the ultimate objective [1] Goal - Achieving control over one's time is the final aspiration [1]

Investment Goals - The report emphasizes the importance of defining personal financial goals [1] - It suggests exploring investment strategies to achieve a secure financial future [1] Investment Strategies - The report encourages viewers to watch a presentation on investment strategies [1] - It highlights the role of investing in building wealth [1] Keywords - The report uses "investing" and "wealth" to categorize the content [1]