pattyharden
New member
Salaam,
I am 26 and a year out from graduating med school. By a miracle and some very very smart planning by my parents about 30+ years ago, I will graduate with very little debt. They opened a 529 plan back then which allowed me and my sister to attend college and med school debt free.
Last year, I was in a very very bad car accident by someone who ran 2 red lights. I barely survived, had to have emergency surgery, was in the hospital, recovery was rough, etc. I went through a personal injury lawyer to work with my car insurance, and after several months we reached a settlement where I got 54k after medical expenses and lawyer fees were paid.
I am not sure what the smartest thing I can do with this money is. Purchase a property to rent out? Dump half of it in an ETF? Sell my car and spend half of it on a 2024 GR Corolla and drive off into the sunset? I have been very tempted to do that but I know that’s the 8 year old kid in me that wants to do that.
Thoughts? Also my financial literacy with regards to investing is very poor.
I tried posting on r/personalfinance and tried explaining interest is haram but got absolutely steamrolled if anyone wants to laugh at my post history LOL
I am 26 and a year out from graduating med school. By a miracle and some very very smart planning by my parents about 30+ years ago, I will graduate with very little debt. They opened a 529 plan back then which allowed me and my sister to attend college and med school debt free.
Last year, I was in a very very bad car accident by someone who ran 2 red lights. I barely survived, had to have emergency surgery, was in the hospital, recovery was rough, etc. I went through a personal injury lawyer to work with my car insurance, and after several months we reached a settlement where I got 54k after medical expenses and lawyer fees were paid.
I am not sure what the smartest thing I can do with this money is. Purchase a property to rent out? Dump half of it in an ETF? Sell my car and spend half of it on a 2024 GR Corolla and drive off into the sunset? I have been very tempted to do that but I know that’s the 8 year old kid in me that wants to do that.
Thoughts? Also my financial literacy with regards to investing is very poor.
I tried posting on r/personalfinance and tried explaining interest is haram but got absolutely steamrolled if anyone wants to laugh at my post history LOL