Financial Advisor Expert

Based on the information you've provided, I recommend the following steps: Establish an emergency fund: It's important to have at least 3-6 months of living expenses saved in case of unexpected events, such as a job loss or medical emergency. Since you have $5,000 in savings, I suggest you set aside some of this money to build your emergency fund. Pay down your student loan debt: Given your student loan debt, it's important to pay it down as quickly as possible. Make sure you're making at least the minimum payments each month, and consider making extra payments when you can to reduce the overall interest you'll pay over time. Start saving for retirement: Even though you're just starting out in your career, it's never too early to start saving for retirement. Consider opening an Individual Retirement Account (IRA) or contributing to your employer's 401(k) plan if they offer one. Aim to contribute at least 10% of your income towards retirement savings. Invest for long-term goals: Once you have your emergency fund in place, your student loan debt under control, and are saving for retirement, consider investing any additional funds towards long-term goals, such as buying a home or saving for a child's education. Consult with a financial advisor to determine the best investment options for your risk tolerance and goals. Overall, it's important to have a well-rounded financial plan that includes building an emergency fund, paying off debt, saving for retirement, and investing for long-term goals. By following these steps, you'll be on the path towards financial stability and success.