I will be graduating with my BSN (Bacelor of Science in Nursing) this December. Luckily I will graduate debt free and with as frugal as I live and as much as I work myself, I am on track to have about $10,000 to $12,000 in savings by the time I graduate.
I will be 23 when I graduate and realize it is time to go ahead and start some financial planning for the future. I am honestly uneducated about both IRAs and 401ks, but seeing as how retirement may not be an institution by the time I retire and not sure if I will stay in nursing my whole career, I would like to start a retirement myself. My goal is to leave my $10,000 in savings as a buffer and put whatever is left over (hopefully around $2,000) into a slow growth mutual fund (hoping for 6%-10% annual growth after fees). After I get my savings up I will then start investing in some more aggressive mutual funds and diversifying my portfolio.
Does this sound like a good start for my age? Are my numbers realistic? Should I go the mutual fund route or try to set up a retirement? Nurses are already overworked and under-payed, I can't imagine I would have much leverage to set up a transferable retirement account right out of graduation. Let me know what yall think. Thanks!
Submitted September 18, 2018 at 11:38PM by lopz98 https://ift.tt/2QGCY0E
