Getting a Pay Raise in 2020? Here's How to Make the Most of It

With many companies experiencing strong profits and the S&P 500 gaining 31% in 2019 including dividends, many professionals, executives and senior-level managers are getting well-deserved raises in 2020.

But be careful. With each new pay raise, people tend to increase their lifestyle -- they take on a bigger mortgage, buy a luxury car or install a large swimming pool in the backyard. Yet these expenses don't have long-term financial benefits.

With the right planning, it's possible to treat yourself within