Short answer
Rank the topics for your own situation and work down the list. For most people, a game plan for student loans and securing disability insurance end up at the top. Retirement savings come after those.
A short clip from his webinar for residents and fellows, with captions.
Watch the full webinar from 58:20The pecking order
We usually cover student loans, disability insurance, buying a house, life insurance, saving for retirement, an emergency fund and a budget. I'd encourage you to rank them one through seven and peck away at them based on your situation. For most people, a game plan on student loans and securing disability insurance are at the top of the list.
Why disability insurance comes before a Roth
Say a resident has been putting $5,000 a year into a Roth IRA for two years, so there's $10,000 in it, and has no disability policy. If their health changes and they can't work, how long can they live off $10,000? Two, three, four months.
Now say they put $4,000 into the Roth and $1,000 toward a disability policy instead. Two years later, if something happens, they still have $8,000 to draw on, plus a stream of income payments to keep the lights on.
Everyone's circumstances are different, so base your plan on your own situation.
Where Jay covers this
Jump to each moment in his webinars.