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Income increased dramatically and a bit lost on how to manage it
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Hi everyone, I'm about 4 years out of uni and have had the immense fortune of being very successful at my line of work. The short version is that my income last year was about £600k pre-tax (mostly bonus and mostly cash), and obviously after tax about half of that has been wiped out.

I've gone from being well paid to being really well paid with nothing in between, and over the last 4 years I've spent most of my time working hard without thinking too much about tax efficiency and what my financial goals are etc. I have always saved some portion of my salary, but clearly nothing close to this level, and I am pretty lost over what to do. I intend to leave the UK soon, which my job has been flexible about, and expect I might end up with my wealth spread across three countries.

Does anyone have any tips or pointers for what I should be doing next? Is it worth it yet to hire a private wealth manager? Should I be speaking to tax accountants?

Edit: Apologies if I'm being vague, just trying to stop myself from being doxxed. Happy to furnish with more details if helpful.

Edit: Seems the general advice is to start by speaking to a tax advisor and taking it from there

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1 year ago