You Are Finally Making Good Money. Now What?

After getting by for years, many millennials are finding themselves with excess money in their pockets. Here’s how to decide if it makes more sense to pay down debt or invest more for retirement.

A man has stacks of $100 bills sticking out of both pants pockets.
(Image credit: Getty Images)

If you are in your 30s or 40s, does this describe your financial situation?

After years of working your way up the corporate ladder, endless long nights as an associate in your firm, or completing your residency or fellowship, your career is finally well established. New financial rewards are coming your way from a new job or promotion, hefty bonuses and other compensation that often didn’t seem possible.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Andrew Kobylski
Wealth Planner, McGill Advisors, a division of CI Brightworth

Andrew Kobylski is an Associate Wealth Adviser with CI Brightworth/McGill Advisors and has been with the firm since 2020. Working closely with attorneys, dental professionals and small-business owners, he creates financial plans that align with each client's values and goals. He graduated summa cum laude with a degree in finance from Virginia Tech. He obtained his CERTIFIED FINANCIAL PLANNER™ and Certified Investment Management Analyst® designations in 2021.