Hello all,
I'm currently a PGY-1 in a 4 year EM program in California. I'll be getting about a $400/month raise starting as a PGY-2 in July and am wondering what to do with the extra money. I already contribute the max of $5500 to my Roth IRA, my employer does not allow me to contribute any additional money to our 403-b and doesn't offer other investment options.
Additional info: I have about 190k in medical school loans that I consolidated at about 5% and am in the REPAYE program. I pay about $175/mo and my balance grows about $240/mo. Due to the 50% unpaid interest subsidy, I don't think it makes sense to put the extra money into repaying my loans. I plan on aggressively paying them off after residency. I have an emergency fund that covers about 2 months expenses, which I'm comfortable with as my job is pretty secure. I'm also single w/ no dependents.
Thank you!
I'm currently a PGY-1 in a 4 year EM program in California. I'll be getting about a $400/month raise starting as a PGY-2 in July and am wondering what to do with the extra money. I already contribute the max of $5500 to my Roth IRA, my employer does not allow me to contribute any additional money to our 403-b and doesn't offer other investment options.
Additional info: I have about 190k in medical school loans that I consolidated at about 5% and am in the REPAYE program. I pay about $175/mo and my balance grows about $240/mo. Due to the 50% unpaid interest subsidy, I don't think it makes sense to put the extra money into repaying my loans. I plan on aggressively paying them off after residency. I have an emergency fund that covers about 2 months expenses, which I'm comfortable with as my job is pretty secure. I'm also single w/ no dependents.
Thank you!
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