I am 37, immigrant doctor on h1b. Currently I am cardiology fellow with around 75k annual salary. I have around 10k in 401k and around 20k cash in hand. I have 2 kids 4y and <1y. Wife stays at home. All debt is paid off. Currently we spend around 5000 every month with rent, 2 cars and daycare (only for older one) taking most chunk out of my paycheck. Starting this July I become a full cardiologist with annual salary of 500k without much benefits. How do you think I can start investing to maximize tax benefits? Maximize my IRA and 401k is what I think I can start with. What else can I do to say retire at 60-65 years of age?
original posted by Evening_Brother_8156 to r/personalfinance on Sun, 03 Mar 2024 05:16:45 GMT.