Hey you all.
I recently had a change in job which includes a change of income and benefits. I would love to hear your insight and perhaps any guidance.
My income increased from 48K to 76K (medical field).
I have an option to choose between two retirement options:
Pension option: my minimum contribution is 7%
And my job contributes 8%.
I have to Vest a minimum of 5 years to collect any pension income. I do not control these investments but I hear investments have averaged 8%.
Along with the pension I can also contribute to either a 403B or/and 457.
I signed up for a Roth IRA through Vanguard but I haven't done any contributing since I was waiting on landing this position.
I don't have ANY investments. I owe 35K in student loans and My monthly home expenses are currently never above $700 (estimating).
What I am considering doing:
Start the pension and perhaps contribute to the 403B (3-5%) after I pay off student loans.
Goals:
I want to pay the SL debt off.
Save to buy a car cash once mine doesn't function anymore.
Save to buy a home.
Thanks for taking the the time to read and offer any what would you do advice.
I recently had a change in job which includes a change of income and benefits. I would love to hear your insight and perhaps any guidance.
My income increased from 48K to 76K (medical field).
I have an option to choose between two retirement options:
Pension option: my minimum contribution is 7%
And my job contributes 8%.
I have to Vest a minimum of 5 years to collect any pension income. I do not control these investments but I hear investments have averaged 8%.
Along with the pension I can also contribute to either a 403B or/and 457.
I signed up for a Roth IRA through Vanguard but I haven't done any contributing since I was waiting on landing this position.
I don't have ANY investments. I owe 35K in student loans and My monthly home expenses are currently never above $700 (estimating).
What I am considering doing:
Start the pension and perhaps contribute to the 403B (3-5%) after I pay off student loans.
Goals:
I want to pay the SL debt off.
Save to buy a car cash once mine doesn't function anymore.
Save to buy a home.
Thanks for taking the the time to read and offer any what would you do advice.
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