I got a new job! Time to make some decisions about my finances

[Nicole Heasley Beitenman]

Hi BP! I'm leaving the REIT where I did accounting and short-term leasing for retail shopping centers and heading to a property management software company where I'll be doing sales. Wages are likely to be 60% salary, 40% commission my first year. While it's a little unnerving to see my salary drop a chunk, it'll still enough to live on, and my income will actually see a 25% increase if I hit the low end of their expected commissions in my first year.

I am hoping this job will connect me with more people on the residential side such as property manager and landlords. I'm also looking to build sales skills while increasing my income so I can prepare for my next step, which is getting my license and becoming an investor agent (and, of course, scaling my portfolio of rental properties). I hope I'm making a smart move!

One adjustment will be unevenly distributed income. I might make $15k+ more a year, but it won't be regular. Any suggestions for dealing with that are welcome. 

Finally, I'm researching solo 401k's and self-directed IRA's. I'll be collaborating with my financial planner to determine which investment vehicle is best to roll my 401k into. Since my new company's match is so small, I'm contemplating no 401K contributions through my new company. I think it may be better to use that money to knock out my student loan debt or invest it on my own. I'm open to thoughts on that as well.

TIA! And thanks to @Scott Trench for writing Set For Life. I wouldn't have made the decision to take control of my income without him. 

[JD Martin]

Congratulations! Thoughts:

1. Spend only on absolute necessities first 6-12 months. It takes some time to figure out your baseline. 

2. Send any unpaid to bills to @Scott Trench - it's his fault, after all 😅

Seriously, I'm sure you've thought it out well and will do fine.