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re: Investment advice
Posted on 6/1/16 at 11:44 am to Salmon
Posted on 6/1/16 at 11:44 am to Salmon
Yeah. So, I have substantial debt from student loans but not great income. In a matter of 3 years, that all changes, and I think I can okay that down aggressively in 1 to 2 years.
My thought is to hit Roth hard, and then worry about student loans after residency (besides my $200 a month payment now to just not allow interest to capitalize).
This would allow me to have 35 years of non-taxable growth.
My thought is to hit Roth hard, and then worry about student loans after residency (besides my $200 a month payment now to just not allow interest to capitalize).
This would allow me to have 35 years of non-taxable growth.
This post was edited on 6/1/16 at 11:48 am
Posted on 6/1/16 at 12:05 pm to GeauxTigers777
You sound alot like me. I have a very high income and I can tell you the #1 thing I've learned is
1)Buy a home
2)pay off that home
3) build a dividend portfolio that can pay your property taxes for life.
From there just enjoy life man. Its too short to worry about squirreling away and saving/investing all that stuff. A home paid off in a good neighborhood is a great asset and as long as you have a portfolio of multiple names that have a solid dividend history that can pay your bills in the event anything happens. You're retired.
Once I got that all set. Ive bought the cool car,the boat, the vacation home. All those you can finance without any worries once you have that solid balance sheet. So im gonna get flamed for this but trust me. Stockpile your cash today, buy a great home in a great area when you can and pay that thing off ASAP. That is step 1. When that is done, build your portfolio and stuff it with great dividend champions when the time right, right now isnt the time most are trading at high historic multiples. When thats all set you should have a few million dollar net worth and security for you and your family forever god forbid something happens to you.
I had a 35 year old friend recently a dentist go paralyzed from an aneurysm. I dont think he was prepared and I worry what happens to his family now bc he had a stay at home wife. Dont let that happen to your family, a paid off home, is a place forever as long as you can pay the taxes and utilities.
1)Buy a home
2)pay off that home
3) build a dividend portfolio that can pay your property taxes for life.
From there just enjoy life man. Its too short to worry about squirreling away and saving/investing all that stuff. A home paid off in a good neighborhood is a great asset and as long as you have a portfolio of multiple names that have a solid dividend history that can pay your bills in the event anything happens. You're retired.
Once I got that all set. Ive bought the cool car,the boat, the vacation home. All those you can finance without any worries once you have that solid balance sheet. So im gonna get flamed for this but trust me. Stockpile your cash today, buy a great home in a great area when you can and pay that thing off ASAP. That is step 1. When that is done, build your portfolio and stuff it with great dividend champions when the time right, right now isnt the time most are trading at high historic multiples. When thats all set you should have a few million dollar net worth and security for you and your family forever god forbid something happens to you.
I had a 35 year old friend recently a dentist go paralyzed from an aneurysm. I dont think he was prepared and I worry what happens to his family now bc he had a stay at home wife. Dont let that happen to your family, a paid off home, is a place forever as long as you can pay the taxes and utilities.
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