I'm 27. I'm in a medical program that will end with me having a 80K a year job and no debt. I know nothing about business or investing, I have very little money right now, and no job right now.
How do I make the most of my time and my money in the future?
Set up an investment account and have a significant portion of your earnings direct deposited into it each month. Pick a split of funds you like, roll over any dividends and coast. Open and max out a Roth and use your work 401k for whatever they will match.
Marry a virgin who has a STEM degree and no interest in children. Devote the early portion of your careers to slavishly climbing the ladder until you're worth at least a mil. Then you can take a breather.
>>1394528
Questions:
Ok so put a big chunk of my money in an investment account. How do you pick funds for it? Just anything that looks to have a good history? I've heard such things are essentially random.
Why an IRA? Just because it's an untaxed place to put money? Or saving for retirement in general?
Why a virgin? I assume the STEM degree is so they have a good job.
I've been thinking about going into some sort of medical program, specifically nursing, opinions on your program, and would you do it again?
>>1394569
It depends. Nursing doesn't get paid that much I think. I'm training to be a tech working with radiation. It's just an associates but it pays quite well, though getting a job will probably be harder than getting one in nursing. Nursing has the benefit that you can do it anywhere and there's almost always some demand.
I would volunteer at a hospital for a few weeks though, if you can get the time. Keep in mind that nurses generally only work a couple days a week, but they work very long hours on those days.
>>1394564
I would just pick a couple large cap funds as kind of the meat and potatoes then mix in any others you like at a 10% share each. Probably include at least 1 bond fund just to appease conventional wisdom. The goal of this is just to make a modest return because when you start early a modest return is all you need.
Having tax free buckets of money to pull from during retirement allows you to minimise your tax liabilities. Essentially you can use this money to avoid the higher income taxes your other investments may be subject to. Tax brackets may start to look scary in the future so I'm a big fan of starting a tax avoidance plan early.
A conservative virgin woman is less likely to divorce you and take half your shit. Marriage can be your biggest asset because it has the potential to double your income with very little added cost. These benefits are negated by divorce.