7 Money Mistakes Even High-Income Earners Make

Earning a six-figure salary can make building wealth easier, but it’s not a magic solution for your financial woes. Earning a high income is only one part of the equation.

Most of the mistakes that six-figure earners make are easy to fix. Here’s how to use that high income to your advantage and build your net worth.

Just because you have a lot of money coming in every month doesn’t mean you shouldn’t keep track of where it’s going.

Not using a budget

No long-term financial plan

Making a six-figure income won’t mean much if you lose your job or if you don’t save enough for retirement.

There are ways you can minimize your tax burden by using tax-advantaged accounts and other financial products that can help you shield part of your income from taxes.

Failing to minimize taxes

One mistake that many are guilty of from time to time – six figures or not – is spending too much.

Spending too much

Create a financial freedom blueprint and make your money count by investing smartly and maxing out your tax-advantaged accounts.

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