Fresh College Grad

teaks · 2007-01-18T10:03:17+00:00

Hello, I'm new here and am looking for some advice for a new collegegrad. Here's a little background info on me:I'm currently 21 and recently began a full-time job paying around 60k.My company matches 401k at 4% and has a decent stock purchase plan(quarterly buy-in at a 15% discount of lowest price of either first orlast day of quarter). I don't plan on marriage, children, purchasingreal-estate in the near future. I would like to go back to school formy masters or MBA in 4 to 5 years.I have about 16k in federal student loans. 8k was previouslyconsolidated at ~2.75% and the other 8k is currently at ~4.8% and 6.8%fixed (which I will probably consolidate). I also have another 8k inprivate loans at a variable 7.65%. I'm currently beginning my 6 monthgrace period for all of these loans.I began investing in a Roth IRA account when I turned 18 and havearound 5k in it so far. Finally, NO credit card debt, car loans, etc.That's me. Right now I'm thinking a good strategy would be to max my401k up to at least my employer's contribution and also max out myannual Roth IRA contribution (I think the limit is 2500?). I'm alsokind of thinking I should try and completely pay off the private loanat 7.65% ASAP and begin chipping away at the other federal loans. Alsoconsidering making only minimum payments on the 2.75% loan.Any thoughts/comments/suggestions on this strategy? Finally, mycompany's 401k plan is through Fidelity - what are your thoughts onfunds and risk categories? I've read a lot about index funds andno-load mfs but am not sure which funds are available yet. Thanks alot for any help!!!