Hey guys, I am a 28 yo male who just graduated pharmacy school and passed all my boards to become a pharmacist. I signed a contract to be a floating pharmacist at a grocery chain for $115k a year ($2200 a week). My company also gives $9k worth of stock per year which you can redeem after you retire or quit. I was going to treat that as a retirement account. I am a very frugal person and like to live within my means. After living my whole life on a college student budget this is more money than I know what to do with and can easily live like a king on $650 a week. My expenses are around $1900 a month and that includes fun money and no car payment (paid off 2008 Dodge). After taxes I will receive $1600 a week and that would give me an extra $3800 a month to put in savings. I currently have $20,000 cash at the moment in an Ally savings account.
I wanted to know the best way to utilize that money without putting it in a 401k because I want the money to be somewhat liquid in case i want to buy a rental property or find an amazing deal on real estate. I was thinking about dumping it all in a vanguard index fund after a solid 6 month emergency fund is built up. i dont know if index funds provide tax lowering capabilities similar to 401k. thanks for all your help
edit: The only debt that I currently have are my student loans which consist of around $200k. I am on the PAYE plan and my current payment for the next year is $0 which counts as a qualified payment. The following year after that the payment would be $308 and the loan would be forgiven after 18 years. My plan was to utilize my early years of my career saving and investing instead of paying my loan down just to have a net worth of $0.
Submitted July 17, 2017 at 12:34AM by corey407woc http://ift.tt/2tvWS1O
