22F, $70k, living at home, debt-free in December. Law school in Philly next, then a cash townhouse. Help me plan the money?
I'm 22, just started my first full-time job, and I have more goals than money. For me, FIRE means independence, going to law school without loans, and building a business that could replace my paycheck someday. Looking for a gut-check on my order.
About me: $70k salary, plus a $250/month stipend from a women-in-tech org through December. I live at home rent-free; my main bills are debt payments, gas and groceries.
My debt: ~$8.6k (one 32.99% APR loan, a medical bill, cards, BNPL). I'm paying ~$1,570/paycheck and will be done Dec 15.
Retirement: 6% to my 401(k) (2% pre-tax, 4% Roth) with the full 3% match, in a 2070 target-date fund. No Roth IRA yet.
After December: my emergency fund hits 3 months by ~Feb. Then ~$3,100/month is free.
My goals, in order: law school in Philly (Fall 2028 or 2029, ideally without loans), then a cash townhouse later.
My questions:
- How should I split ~$3,100/month between a law school + Philly fund and investing?
- Should I open a Roth IRA too?
- Is loan-free law school by 2028 or 2029 realistic starting from $0?
- Should I keep my 2016 Camry through law school, or upgrade?
- Cash townhouse later, or mortgage and invest the difference?
- Should I build other income streams now, and which would fit a full-time job?
- What would you change to make this plan more FIRE-friendly?
If you're under 25, what's your plan? And I'd love to hear from anyone who did law school while pursuing FIRE!