Money Moves for 2006, Part 3: Your Job
It’s time for yet another installment of Money Magazine’s recommended money moves for 2006. Today it’s three tips related to your job…
(1) “Don’t ask for a big raise.” Instead of asking for a big raise, Money recommends asking for a bonus instead. I’ve actually heard that there is a growing trend toward rewarding high quality workers with bonues rather than raises, so you may be more likely to score some extra cash by following this advice. Then again, bonuses are here today, and gone tomorrow, so a raise would give you much more stability.
(2) “Get a better gig.” According to recruiters, the following fields will be hot in 2006 and beyond:
Retirement planning: Aging boomers need financial advisers and tax lawyers.
Health care: Constant change means work for benefit-plan administrators and information technology specialists.
Auditing: Increased scrutiny of corporate books requires more accountants.
So if you’re looking to make a switch, think about these fields. And if you’re already in one of these fields, now may be a good opportunity to negotiate a better deal for yourself.
(3) “Get an M.B.A. on the IRS.” There’s no better way to improve your lot in life than to improve your credentials. And a recent tax ruling means that you may be able to deduct the costs associated with earning an MBA. In short, you can deduct your tuition, but only if the degree “improves and enhances” your ability to perform the job that you already have. Note that you don’t have to stay at your current company to take advantage of this, but you’ll lost the tax break if you quit to go to school full time, or if you use your new MBA as a springboard for switching careers.
Read Part 1, Your Home
Read Part 2, Your Portfolio
You’re reading Part 3, Your Job
Read Part 4, Your Health
Read Part 5, Your Family
Read Part 6, Your Spending
[Source: CNN/Money]
Disclaimer: Discover is a paid advertiser of this site.
Reasonable efforts are made to maintain accurate information. See the Discover online credit card application for full terms and conditions on offers and rewards.
Modified on December 1st, 2005 - One Comment
Filed under: Working
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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» One Year Ago This Week (November 12th – November 18th)» One Year Ago This Week (November 19th – November 25th)
» Money Moves for 2006, Part 4: Your Health
» Money Moves for 2006, Part 1: Your Home
» Money Moves for 2006, Part 5: Your Family
» One Year Ago This Week (November 26th – December 2nd)
» Money Moves for 2006, Part 6: Your Spending
» Money Moves for 2006, Part 2: Your Portfolio
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November 21st, 2005 at 12:49 am
Yes, indeed! It is about the time for the “Best of 2005″ and the “Top Ten 2006 this-and-that” lists. Market predictions, too! Stocks that’ll double! And all I really want to know is who is going to cover the spreads in the bowl games…