A few lucky family property investments have resulted in my personal share of 200k.
About my financial situation: between my spouse and I, we have 60k in emergency funds. We are maxing out our company sponsored retirement plans. I have a Roth IRA; my spouse does not. We have no other investments. I have 180k in students loans and plan to consolidate this year to a 5 year, 1.95% fixed rate. With this particular bank, if I pay off my loans within 4 years, they will give me back the interest paid against my loan for up to 2.00% of the original loan balance. We have no other debt. We live in a high cost of living are but currently live with the parents rent free.
I'm a resident physician currently and will graduate this year. My pay will be in the 300k range starting out and in three years it will be in the 400k range (as per my contract). My spouse makes significantly less but my spouse's family is the one that owns the properties and giving us this share.
Our goals: I want to pay off my loans and we want to buy our own house. I would love to own our own place asap as we are still living like college students in terms of our spending. We are fortunate to live rent free but we spend very little. We have an 8 month old baby and would like to save for college. We want to learn how to invest. I want to use this 200k in a way that makes the most sense for us. What would you guys do?
Submitted April 08, 2018 at 10:00AM by Indapbk https://ift.tt/2uVOUF8
