Intern Here - Need IRA or 401K or 403B Advice

[fabafabe]

My residency does not offer us any retirement plans. I do have a life insurance plan among other benefits, but I am not enrolled in any retirement plan at the moment. What could/should I do? I have a decent amount of cash in my savings account which I almost never touch. I am single and have no kids. My mom will occasionally spot me cash too. Thanks!

[adventure]

Just to replay this, you can't get any retirement account through work, or you can't get any retirement match through work? And you are paid a salary (W2) ?

1. Start a Roth. You can do this yourself at Fidelity, Vanguard, a zillion places, etc. Add $5,500 a year.

2. Put cash into a "high interest" savings account online (BBVA, Ally, Synchrony, etc), until you have a more define retirement plan, emergency account plan, etc.

3. Do you need cash from family? or are you self sufficient in Residency now that you have a salary?

And congrats on starting - enjoy!

 

[Wiscoblue]

Any Student loans? Maybe you should pay those down.

[jfoxcpacfp]

• Roth IRA


• Disability before you get into a group plan


• Do some IC shifts and set up a solo-401k (you can't set one up w/o earned income in your name only)


• Pay your mom back

Not necessarily in that order