- You must save more than your spend in order to grow your financial stash.
- During residency you should pay off at least $2,500 in student loan interest per year. Make sure you contribute to your Roth IRA fully but keep your Traditional IRA bucket empty. Save the rest of your earnings.
- While you are a mid-career professional you should be contributing to the maximum limit in all of the investment vehicles available to you. Invest in a taxable account. Buy umbrella insurance. Figure out what other options you would feel comfortable with placing your money to diversify. Contribute to 529’s if your state allows tax reduction.
- Retire 🙂
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A FINANCIAL PLAN FOR BUSY PEOPLE
Disclaimer: The topic presented in this article is provided as general information and for educational purposes. It is not a substitute for professional advice. Accordingly, before taking action, consult with your team of professionals.