23 year old male, Will be starting medical school in 2 months. I need some advice on whether it would be worth it to invest any of money at this point in my life.
I have a little over 15K in savings, No Credit Card debt or Student loans from Undergrad. No Car Payments.
I will be quitting my 2 jobs in a little over a month as I won't be able to continue working when I start school due to the amount of studying I need to do.
I will be taking out about 60K in grad student loans for my first year. That would cover my tuition and some related fees. I plan to pay for room and board myself.
Monthly expenses while attending grad school:
Rent- 800$ per month
Utilities- 150$ per month.
Food/eating out/Groceries- 300$ per month.
Gas- 70$ per month
Miscellaneous- 180 per month ?
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Monthly Expenses = 1500$ - 500$(allowance from parents per month)= 1000$.
Expense for year one= 12000. I have already paid off my first month of rent and security deposit. So subtract 800$ for rent.
Adjusted expense for year one will be about 11,200 K.
Money left in my back account after one year will be about 4800-5000$.
Considering my situation, what do you think is the best coarse of action ? Would it be worth it to invest a couple grand in the stock market considering I won't have a steady source of income ? or should I work on paying the interest that's accruing every month from my loans? Another option would be to move my 15K to a high yield interest loan.
Submitted May 09, 2019 at 12:10PM by Plaquenil http://bit.ly/2Jw6NQn
