Hi everyone,
New to the message board but have enjoyed reading the blog from time to time.
I am a current dental resident, earning a salary of about 50k this year. I have 180k in education debt from dental school. I am entering a specialty residency this summer which is a 3 year tuition based program (estimate 75k per year for tuition plus living expenses).
I recently unexpectedly inherited money from a relative. My parents were kind enough to give me about 180k in order to pay off my loans, which are at 5-6%. I have no current student loan payments as they are using my 2017 income of zero. I hope to open my own practice or buy in soon after finishing my residency.
My parents want me to use to the money to pay of my loans and rid myself of the debt. I wanted to get the advice and opinions of some of you on the board here on what you would do in terms of just paying off the loan, paying off a large chunk and investing/saving some. My plan was to pay off 100-120k of my debt, max my Roth IRA, and hold on to the rest in some form. Please let me know some of your thoughts!
New to the message board but have enjoyed reading the blog from time to time.
I am a current dental resident, earning a salary of about 50k this year. I have 180k in education debt from dental school. I am entering a specialty residency this summer which is a 3 year tuition based program (estimate 75k per year for tuition plus living expenses).
I recently unexpectedly inherited money from a relative. My parents were kind enough to give me about 180k in order to pay off my loans, which are at 5-6%. I have no current student loan payments as they are using my 2017 income of zero. I hope to open my own practice or buy in soon after finishing my residency.
My parents want me to use to the money to pay of my loans and rid myself of the debt. I wanted to get the advice and opinions of some of you on the board here on what you would do in terms of just paying off the loan, paying off a large chunk and investing/saving some. My plan was to pay off 100-120k of my debt, max my Roth IRA, and hold on to the rest in some form. Please let me know some of your thoughts!
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