YANMFA but.. be my financial advisor
May 12, 2014 7:49 AM Subscribe
I need help figuring out where to put my money now that I got a raise and finished graduate school. Snowflakes inside.
posted by anonymous to Work & Money (5 answers total) 4 users marked this as a favorite
Due to a confluence of recent events (getting a raise, graduating with my Master's), I'm reassessing my finances. I'm in my late twenties. Here's what I've got:
- $1,500 in emergency funds (about a months' worth of bills) - my job is very stable right now, but of course, anything could happen
- $4,000 in a 403(b) from a previous employer - my employer does not have a 401(k) or match
- $0 credit card debt
- $68,000 in student loan debt between undergrad and grad (six loans total) - all federal loans, highest interest rate is about 8%, in-school deferment will end in August; I'm planning to consolidate these once my deferment ends
Right now, I have about $500-600 a month to contribute to one, some, or all of these things. What is the priority? I've seen mixed messages from financial gurus about contributing to retirement, student loans, or emergency funds. Is this something that a financial advisor could help with, as well?