So I'm about to start a new job, that pays close to double what my previous one was and about 1.5x my best-paying so far. On top of this, as a part of taking this job I will be moving to a cheaper city. I want to travel more, but there is only so much time that I have and I feel confident that I can budget myself to keep my total outgoings the same as at my previous job for reasons that I won't bore you with. So, what do I do with the spare money? I have two ideas, but I don't know what the relative payoff of each would be. Firstly: buy-to-let. A place in an up-and-coming part of London would likely allow for significant long-term payout. Secondly: some kind of tracking index fund/funds. I'm also wondering whether a medium-term payout (as opposed to long-term) might be better because it could mean I could reinvest later. So: what do I do with this extra cash? I should note that we're not talking lottery-winner numbers here, only around €60k/yr, but I'm just 22 so I would rather start planning this early. This is, honestly, probably not going to be the highest-paying job I ever have.
Submitted June 04, 2017 at 08:44AM by stumpychubbins http://ift.tt/2s6BtzB
