Investment Account Strategy

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  • Avatar Intern00100 
    Status: Resident
    Posts: 1
    Joined: 05/09/2019

    I’m just about to start intern year with $180,000 student loan debt but my spouse has a nest egg of about $140,000 with a financial advisor. Our plan is to consolidate loans and enter REPAYE, making minimum payments during residency (3 years). We recently sold about $60,000 of ONE stock and plan on investing that in a Vanguard index fund instead, and without the help of the advisor. What kind of account is best for this money, assuming we will fund our Roth IRAs with taxed income from residency?

    #213442 Reply
    Avatar Peds 
    Status: Physician
    Posts: 4229
    Joined: 01/08/2016

    Start reading the entire blog, spend time on bogleheads, get the books from the library, and figure out how bad your advisor might be.

    Set up efund, pay off high interest debt, some savings for car/vacay/boards, then start thinking of investing.

    #213467 Reply
    Liked by Hank, Lordosis
    Avatar jacoavlu 
    Status: Physician, Small Business Owner
    Posts: 2273
    Joined: 03/01/2018

    what’s the interest rate on the loan?

    REPAYE for that amount? I don’t know, you have an opportunity to be out from those loans really really quickly, are you sure the forgiveness is worth the hassle and restrictions for that?

    The Finance Buff's solo 401k contribution spreadsheet:

    #213469 Reply
    Liked by Tim, Peds
    Avatar ZZZ 
    Status: Spouse
    Posts: 665
    Joined: 06/18/2018

    Why leave any of it with the financial advisor? Just move it all to a taxable account, sell anything that has a high expense ratio, take the tax hit now while you’re in a low bracket, reinvest proceeds into low cost ETFs.

    #213485 Reply
    Liked by Tim

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