I'm currently making around $30,000 a year before taxes. ($15/hour job) And I just interviewed and secured a job that will be making me ~$125,000 a year. Here's the catch. I will only be working 6 months out of the year, so my bi-monthly paychecks will look similar to as if I were making ~$250,000 a year. There will be a bit of fluctuation upwards, as I will have annual training that I am paid to do, but that will most likely be a few thousands difference in my favor.
Now that you understand my situation, let me tell you my current knowledge;
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Live within my means, as if I were making my previous income. Don't let my spending match my income.
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Pay off my credit card debt (Nothing too crazy, I will accomplish this with my first paycheck)
-Invest the money. Where, how, on what, I have no idea. I want to break into real estate, but I need to learn a bit more. I've done a bit of looking into ETFs, but again I dont know much.
-Build a small nest egg and maintain it.
-Tax codes/maximizing tax returns = Nothing. I know there's ways to maximize the amount you get in returns, and ways that are legal to pay a smaller amount into taxes, but I'm not 100% sure. I would love book/information source recommendations to educate myself further.
And that's about it. I want to use this excellent opportunity to further my economic standings and achieve true financial freedom. If you have any books, podcasts, or other bits of information that would help with what I mentioned above, please let me know!
Submitted November 16, 2020 at 08:16PM by Prophet114 https://ift.tt/36ImUUX
