I’m currently a 4th year med student. I’ve opened a Roth IRA for my spouse and I through Vanguard. I’m planning to try and max out contributions throughout residency. Are there any specific funds that you recommend to invest in? We don’t have much to contribute for 2018 but we are putting some money in prior to the April deadline. I was thinking of the target retirement 2055 fund, any thoughts? Thanks in advance.January 11, 2019 at 12:36 pm MST #180539Drop it into MDParticipantStatus: PhysicianPosts: 440Joined: 09/20/2018
I would put it in VTSAX but there is nothing wrong with TD funds.PedsParticipantStatus: PhysicianPosts: 3791Joined: 01/08/2016
TDF is fine to start.ENT DocParticipantStatus: PhysicianPosts: 3165Joined: 01/14/2017January 11, 2019 at 1:53 pm MST #180560artemisParticipantStatus: PhysicianPosts: 491Joined: 12/02/2016
A target date fund is fine to start with. Later, when you’ve learned more about investing, if you wish to set up a more elaborate portfolio you can always sell the TDF shares and put the money into other funds, because there’s no tax penalty when it comes to buying or selling assets held in a retirement account.jhwkr542ParticipantStatus: PhysicianPosts: 1142Joined: 02/15/2016
On a low amount in Roth, I’d do VTSAX as well.
Thanks everyone. I have an emergency fund set up already and I’m planning to contribute up to the company match if offered through my residency program, but wanted to go ahead and open my Roth IRA and my spouses in the meantime for 2018 contributions and so it’ll be in place for 2019. Thanks again for the advice.January 11, 2019 at 2:42 pm MST #180574Drop it into MDParticipantStatus: PhysicianPosts: 440Joined: 09/20/2018
Your future self will be very happy with your resident self.
I wish I could deliver a copy of the WCI book to my resident self :/
I’ve been fortunate to have a rotation with a family doc as well as a surgeon neighbor who introduced me to WCI early on. I wish there was a WCI course implemented in all medical school curriculums across the country. This forum has been great as well and I appreciate all of the help/advice from contributors such as yourself.January 11, 2019 at 2:55 pm MST #180577CordMcNallyParticipantStatus: PhysicianPosts: 2255Joined: 01/03/2017
Can’t go wrong with VTSAX.
“But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
― Benjamin Graham, The Intelligent Investor