Hello! Long time lurker, now finally posting as it is getting 'real' in our lives!
Quick Bio:
Peds Hospitalist Attending; Student Loan Debt: $410,000 (yes, private med schools suck+ I had a big car payment); Fed Loans; PAYE (currently ~$670/mo); work at a 501c3
Wife: OB-Gyn Resident (4th Yr); Student Loan Debt: $315,000 (same med school - she had free housing/food for 2.5 years). Fed Loans; PAYE (~$350/mo)
No CC Debt (paid off early 2016);
Car Loan: 1.99% and owe $12k; other car we own outright.
Currently Rent
Taking jobs in the Northern Rockies-rural America at it's finest!
Me: ~250k/yr + student loan repayment options ('loan' from the hospital - have to work a yr to forgive that amt)
Her: >300k/yr + student loan repayment options (same as above)
Our Questions: SERIOUSLY - WHAT TO DO?
Do we pay off student loans as fast as possible w/ the help of the hospital system + any income to pay off loans asap?
Do we invest invest invest as much as possible and stay there until THEY pay off our student loans/close to it? If so - in what (I have the book...looking at backdoor IRAs for both of us, maximizing out their retirement plan, etc).
Do we cut it down the middle - invest and pay off?
Save it all, and live 'fat and happy'
Or....?
We are all ears about what to do - we're talking w/ a tax attorney (friend of mine) on how to shelter $$$ but in the absence of any tangible property minus an older suv and a newer one that's on loan - we don't own much besides sporting equipment, computers and 1 tv, and clothes to go to work.
We know there are other two physician families on here so hoping to get some advice from them and anybody else who knows...well a lot
ANY help would be appreciated! Thanks!
Quick Bio:
Peds Hospitalist Attending; Student Loan Debt: $410,000 (yes, private med schools suck+ I had a big car payment); Fed Loans; PAYE (currently ~$670/mo); work at a 501c3
Wife: OB-Gyn Resident (4th Yr); Student Loan Debt: $315,000 (same med school - she had free housing/food for 2.5 years). Fed Loans; PAYE (~$350/mo)
No CC Debt (paid off early 2016);
Car Loan: 1.99% and owe $12k; other car we own outright.
Currently Rent
Taking jobs in the Northern Rockies-rural America at it's finest!
Me: ~250k/yr + student loan repayment options ('loan' from the hospital - have to work a yr to forgive that amt)
Her: >300k/yr + student loan repayment options (same as above)
Our Questions: SERIOUSLY - WHAT TO DO?
Do we pay off student loans as fast as possible w/ the help of the hospital system + any income to pay off loans asap?
Do we invest invest invest as much as possible and stay there until THEY pay off our student loans/close to it? If so - in what (I have the book...looking at backdoor IRAs for both of us, maximizing out their retirement plan, etc).
Do we cut it down the middle - invest and pay off?
Save it all, and live 'fat and happy'
Or....?
We are all ears about what to do - we're talking w/ a tax attorney (friend of mine) on how to shelter $$$ but in the absence of any tangible property minus an older suv and a newer one that's on loan - we don't own much besides sporting equipment, computers and 1 tv, and clothes to go to work.
We know there are other two physician families on here so hoping to get some advice from them and anybody else who knows...well a lot

ANY help would be appreciated! Thanks!
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