- Joined
- Oct 20, 2014
- Messages
- 19
- Reaction score
- 4
I'm Graduating Medical school this month. I will be doing a residency in PM&R, which is a 4-year residency and possibly a 1-year fellowship. Currently have 290k in loans, all federal loans. I will be making 70k before taxes and plan to live at home (a roughly monthly estimate on expenses is 1,500 - single and no kids). Rest for loans, retirement, or investment. Not sure if PM&R can do PSLF, I think most are private?
1- Overall everyone recommends REPAYE. I don't want to consolidate my loans and use the avalanche method to take care of the highest interest loan first, anything wrong with that? Once the subsidy hits 1st of the month, plan on making 1,500 toward the highest interest each month ( would that work or a better way to approach ? ) - Loan is from MOHELA
2- I plan on contributing to ROTH as much (annually 3k) or should I lower the monthly loan payment and contribute more?
3 -I have roughly 5k saved up (started working around January this year) - would you recommend to invest (ROTH for 2019? or any other recommendation - stocks ) or pay back loans before the interest consolidates (currently 0% interest) or wait till august and make a big payment ( if I do make a big payment, should I target the highest interest ?)
4- Anything else you can recommend feel like I'm a mess financially
Thank you
1- Overall everyone recommends REPAYE. I don't want to consolidate my loans and use the avalanche method to take care of the highest interest loan first, anything wrong with that? Once the subsidy hits 1st of the month, plan on making 1,500 toward the highest interest each month ( would that work or a better way to approach ? ) - Loan is from MOHELA
2- I plan on contributing to ROTH as much (annually 3k) or should I lower the monthly loan payment and contribute more?
3 -I have roughly 5k saved up (started working around January this year) - would you recommend to invest (ROTH for 2019? or any other recommendation - stocks ) or pay back loans before the interest consolidates (currently 0% interest) or wait till august and make a big payment ( if I do make a big payment, should I target the highest interest ?)
4- Anything else you can recommend feel like I'm a mess financially
Thank you
