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- If you’re earning more than you need to cover your bills, congratulations! You can use that cash to build wealth for the long term.
- I recommend directing extra cash to any tax-advantaged accounts offered by your employer, or making additional payments on any debts you owe.
- You could also use your extra cash to invest in your personal or professional development — additional training pays dividends in the long term.
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If we’re lucky, there comes a point in our lives when we don’t have an immediate need for every dollar we earn.