I'm a 30M who just completed residency in a lucrative medical sub-specialty. I am tremendously fortunate and grateful for all the factors leading up to my success. This post is not about that, however - I am here for financial advice. I started working full time a few months ago.
The numbers:
My salary is $436k/year. As a recent medical resident earning ~$50k/year, the new salary is completely overwhelming. I am single with no children and have low fixed expenses. I have approximately $245k in consolidated student loan debt at 7.0% interest. I have about $6k in credit card debt and owe another $15k to family. I rent a cheap apartment for $1000/mo and own an older vehicle, KBB ~$9k.
I'm not entirely financially illiterate but finance has not been a focus in my life... After reading the various sidebar posts I know I should pay down all my debt ASAP, max out my retirement contributions, and generally put away as much money as possible, etc.
Does anyone have any pointers for wise investing? I'm looking for safe options for responsible, long-term financial security. Thank you all in advance.
Submitted October 17, 2017 at 01:22PM by mdfinancethrow http://ift.tt/2zwqG2j
