Are you ready for retirement?
I'm 33 and just started medical residency. I spent most of my 20's in school, so I don't have much at all saved for retirement or saved for anything really.
Now that I finally have a paycheck, I've figured that I can afford to save about 20 percent of it (or about $700 or so a month, so not a whole lot). Should all of that go directly towards retirement? Or should I save part of that amount for an emergency fund or potentially for a down payment for a house someday, and if so how much?
How do people manage to save for normal life events like houses, etc., while still being smart about retirement on this type of income? Thanks!