Ask Paula: I Make $168,000 Per Year and Spend $5,000 Per Year. Whats Next?

Published: May 27, 2019, 5 a.m.

#195: Alex makes $168,000 per year, combined between her full-time job and her side hustle. Her company pays for breakfast, lunch and dinner during the work week, plus a cell phone subsidy, health, dental and vision insurance, a gym membership, and commuting costs. She also househacks, so her living expenses are only $400 per month. What should she do with her ample savings?\n Christine is 38 and earns $70,000 per year running her own business. She holds $70,000 in investment accounts, has another $16,000 in savings, bought a condo with 20 percent down, and has no debt. What can she do to fast-track her path to financial independence?\n Amy is unsure whether she should pay off her mortgage, downsize to a smaller home, or invest.\n Katherine is 23 and househacking into a duplex. How much should she set aside for cash reserves?\n Miriam started a podcast and wants to know how to morph a passion into a lucrative income stream.\n Nick wonders if the FIRE movement should plan an annual gathering \u2026 you know, like a FIRE Festival. (But not like the Fyre Festival.)\n I tackle these six questions in today\u2019s episode.\n For more information, visit the show notes at https://affordanything.com/episode195\xa0\nLearn more about your ad choices. Visit podcastchoices.com/adchoices