I currently have 70k in the bank in a savings account. I plan to attend school in 2 years which will cost a total of ~$300,000. What is the best way to utilize my money right now?

I have 70k just sitting in a savings account right now, but I plan to do medical school soon with federal loans that have ~7% interest rate that will be adding up over 4+ years.

Should I start a Roth IRA or other type of retirement/savings account right now? Or should I just keep my money in a savings account so that I can immediately use it to take out less loans in 2 years?

Another question: 4 years after school, I expect to be making $50-60k per year. At that point, should I still contribute to a Roth IRA or just use that money to pay off student loans that have a ~7% interest rate?

Thanks.

Submitted May 08, 2017 at 06:10PM by heolpwithmoneuy http://ift.tt/2qj9U5o