Ep. 77: Danielle is self-employed and worried about creating permanent stability

M$D: September 13, 2033

Meet Danielle

Age: 34

Danielle’s main concerns, in her own words:

I love my job, and I’m proud of what I’ve accomplished, but I am concerned about several aspects of my future financial stability. (1)Student loan debt. I currently have $70,000 in student loan debt, and am set to continue paying $1,000 a month for the next 6+ years. (2) Savings. I am self employed, and budget to prepay my taxes quarterly. My income varies by multiple thousands each month, so I started paying myself a set salary. Beyond this, I have nothing set up for retirement. I know I need to start saving, but am uncertain of when and how to do it. (3) Lifestyle. I have two kids in daycare full time and pay $500 a week. We also bought a new house this summer, which we would like to work on. What’s the smart thing to do? Pay off loans, wait until kids are out of daycare, begin investing? I need your help! I am a first generation college graduate, and have worked very hard to get where I am, but know there’s more I can do!

What we cover in this episode:

  • Creating a plan for paying off debt
  • Determining priorities i.e. retirement, kids’ college expenses, and lifestyle needs/wants

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