Struggling with Retirement Savings Options and Balance Working in Academia

Retirement

I (35M, single) work in academia and feel like I am struggling to set myself up for success and navigate all the unique financial aspects of being in academia. I had a lot of financial anxiety growing up and have been trying to be prudent, but feel like I am both not making the best choices and also struggling to balance smart choices with being able to enjoy life. I am mostly looking for advice on how to make the best of the current transitional period I am in.

Background about my current situation:

  • Recently graduated with a PhD, on the job market for a tenure-track position (looking all over the country and internationally) but have "full time" employment for at least the next 2 years at my current institution (summer pay is not guaranteed, the rest of the year is).
  • Given the variability with summer positions and off-normal payment cycle (on the academic school year calendar rather than normal calendar, some parts of the year have higher monthly pay than others), it is difficult to have a solid estimate of income (monthly or yearly). Based on recent info, I would estimate about 70k pre-tax (upwards of 85k), average monthly after-tax paycheck being ~$4050.
  • Current institution is in a VHCOL area

Savings / Investing:

  • 60.5k in a Roth IRA (mostly in VTI/VOO/Vanguard Target Retirement fund + a few AI-related stocks)
  • 5k in a Traditional IRA (rollover from a previous employer)
  • 95k in a brokerage (need to move this, the returns have been very low)
  • 9k in 401a
  • 3.5k in 403b
  • 35k HYSA
  • Through my employer, I currently have a mandatory 7% contribution from each paycheck to the 401a, but I can independently make additional contributions to it, a 403b, or a 457b.

Spending:

  • I meticulously track all my spending habits. Below are highlights of my average monthly expenditures so far this year (excluding sporadic expenses like car insurance, medical/dental procedures, etc):
  • Zero debt
  • $70 internet + $72 Utilities
  • $140 insurance (medical + dental + renters)
  • $187 groceries (all generic brands, lots of beans and oats, etc).
  • $57 misc house stuff (cleaning products, tissues, toilet paper, toothpaste, etc.)
  • $55 gas
  • After being in a housing bind last year, I moved into a 1BR apt with $2300/mo rent. This is way more than I'd like to spend, but was able to stay afloat for the year (which was the goal). I am currently exploring moving and getting roommates to bring down this cost -- though being mid 30's and single, this isn't ideal (though typical for the area).
  • I never eat out, have no entertainment budget (only internet), and rarely buy anything for myself. Almost everything I own is 10+ years old (most of my clothes are from my early 20's). Truthfully, I cannot recall the last thing I bought myself for "fun" -- I view my inflated rent as taking up those funds.

With some very rough estimates, my average typical monthly expenditures (including sporadic costs not outlined above) are ~$3100, my average monthly after-tax paychecks are $4400.

Part of me feels like I am doing okay given my unique situation, but then I'll read tons of posts here that are very discouraging by comparison. So I was hoping for both some 3rd party perspectives and input on how I can best be setting myself up for success in the future. If specific questions are helpful:

    1. I have so many different retirement/savings options (401a, 403b, 457b, Roth IRA, traditional IRA, etc) and am not sure which ones to pursue/how to best do so.
    1. My brokerage account has had a VERY low return (this was a wealth manager my parents work with and I had set up when I was in my early 20's). What/where is the best thing for me to do with this?
    1. How ill-advised/stupid is it to continue with the 1BR? I know that spending >50% of pay check on rent is not tenable, but this would only be another year, maybe two, while I'm on the job market.

Posted Nov 28, 2025, 5:34 PM UTC

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