6 Things to Do With Your Money Once Your Salary Reaches $70,000

May 5, 2019

From the following story: https://www.thepennyhoarder.com/smart-money/get-past-overdrafting/

  1. Invest in Real Estate — Even If You’re Not Rich
    Invest in publicly traded REITS
  2. Secure $1 Million in Life Insurance for Just $25/Month
    Life Insurance is for the living. Unless you have a high liabilities
  3. Get Paid Every Time You Swipe Your Debit Card
    Not a bad idea, what out for hidden fees?
  4. Opt in for Autopay to Save on Bills
    Not recommended, use a separate account just for autopay and setup calendar alerts
  5. You Can Even Start Planning for Retirement Now
    This should be #1, start small, but start. If you dont know where to put your
    money, dont follow the crowd, keep in the broker's holding fund as will still earn interest usually around 6%
  6. Move Past Old Mistakes — Lower Your Credit Card Interest           Pay off instead of lowering,
    1. Pay down high balances, or
    2. Pay down high interest, or
    3. Pay down accounts balances to 50%, 30%, 10% of limit

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