Personal details
Age: 22
Income and expenditure
Annual gross income from employment or profession: ~$150k
Type of employment: Self employed / contracting for a US company
In general I'm saving. I have about 1k per month in fixed costs.
Leaves me with about 10k.
Summary of Assets and Liabilities
20k in savings
Other borrowings – car loans/personal loans etc
None
Other savings and investments:
Do you have a pension scheme? Nope
Do you own any investment or other property? Nope
Other information which might be relevant
Life insurance: Nope
What specific question do you have or what issues are of concern to you?
I graduated from uni this year. Working as a contractor in tech with annual contract value of ~$150k.
However I've no idea what to do with my money and would like some guidance.
I don't have an accountant; although I realise I should go sort that out soon.
I don't want to buy a house.
Beyond that I'm guessing that I should start putting money in to investments, assume a 7% return, and then put 10/15k a year for retirement.
I have the inclination to get a financial advisor; but then also wonder if that's just a waste.
What should I do regarding tax, operating under a business, investing? Any and all guidance would be welcome.
Age: 22
Income and expenditure
Annual gross income from employment or profession: ~$150k
Type of employment: Self employed / contracting for a US company
In general I'm saving. I have about 1k per month in fixed costs.
Leaves me with about 10k.
Summary of Assets and Liabilities
20k in savings
Other borrowings – car loans/personal loans etc
None
Other savings and investments:
Do you have a pension scheme? Nope
Do you own any investment or other property? Nope
Other information which might be relevant
Life insurance: Nope
What specific question do you have or what issues are of concern to you?
I graduated from uni this year. Working as a contractor in tech with annual contract value of ~$150k.
However I've no idea what to do with my money and would like some guidance.
I don't have an accountant; although I realise I should go sort that out soon.
I don't want to buy a house.
Beyond that I'm guessing that I should start putting money in to investments, assume a 7% return, and then put 10/15k a year for retirement.
I have the inclination to get a financial advisor; but then also wonder if that's just a waste.
What should I do regarding tax, operating under a business, investing? Any and all guidance would be welcome.
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