Nate Baim, MBA, CFP®
What You Need to Get Right When Your Career Takes Off
Are you getting to that point in your career where you're finally making real money? If so, it is a reason to celebrate! Whether from getting the job you went to school all those years for, working in a higher-paying position, or getting a significant annual bonus, having more income is an incredible feeling. And now you may be asking yourself, "What do I do with this extra money?"
Besides more income, what you've accomplished is finally putting yourself firmly on the next stage of your financial journey that could result in long-term wealth. Retiring early, taking a sabbatical, feeling secure in starting a family, accomplishing goals like buying a house, starting your own business, and going back to school for a graduate degree are now within reach. But how you handle the next stage of your increased income makes a big difference in how soon you achieve your pursuits.
It can be a lot to take in, but you can take some easy steps to keep more of the income you're earning, relieve your debt burden, and establish new assets so they may begin growing your wealth.