I’m in my early 20s and fortunate enough to be living with my parents before I matriculate into medical school in late 2027, and for now, they pay for food, mortgage, etc since I stay with them. Between now and then, I expect to make around $30–40k working full-time, and I currently have very little savings/investing experience. Obviously, this could pay a good chunk of medical expenses, but I'd rather invest it.
Additional context:
- I’ll be in medical school + residency for ~7–8 years after 2027
- I probably won’t have significant full-time income during that period
- I’m starting from essentially zero in terms of investing/savings
- My family will take private loans for med school
What's the best way I can utilize the $30-40k + money I make in medical school (say $10-15k)?
What are the best investment options and financial decisions I could make given my situation?
Early 20s, starting med school in 2027: best investing/financial moves for my situation?
byu/Outrageous_Lab_2182 ininvesting
Posted by Outrageous_Lab_2182
4 Comments
r/whitecoatinvestor
Build an emergency fund, avoid taking on more med school debt than you need, and if you have earned income, prioritize a Roth IRA while your tax rate is low.
For money you’ll likely use in the next 2–5 years (school/living costs), keep it in HYSA, T-bills, or money market funds, not stocks. For true long-term money (10+ years), broad low-cost index funds are the simplest and strongest move.
Investing is best done as a steady, patient habit. Come up with an amount you can invest every week or every month, and stick to it. Open a Roth IRA, and put the steady investment into an S&P 500 ETF. Your three choices are VOO, SPY and IVV. Keep it simple. Focus on consistency.
Honestly if you need the money for tuition and other bills, I’d recommend you allocate a chunk to T bills and notes. Build a ladder of T bills and notes ranging in maturity, but don’t go too far out. Then you’ll get a nice yield, and you’ll be able to sleep at night. I have a portfolio for investing but for my kids’ tuition I put money in T bills each year ear marked for their tuition. I would never invest that money, too risky.