<prompt> Human: Edit: Rising sophomore in college with tuition for this year paid off. Currently no debts.STEM major Neuroscience at a private liberal arts looking to go to med school. Trying to max out ROTH before surgeon money kick in 10 years. My main question is whether I should buy while the market is down so my money evens out. I first bought at 28.34 a share, its now 27.46Edit 2: I dont technically have an emergency fund yet. I have about 1k in checking, should i increase it to 4k before i continue investing in the IRA ?  <response>: Yes, emergency fund takes priority over retirement. Think of e-fund as equivalent to washing your hands and the r-funds as surgery. E-fund is dull compared to r-fund, but surgery without washing hands, stupid risk. As to amount, what are your monthly expenses? What are the most likely emergencies? Airline ticket home for parent emergency? Dental crisis? Hacker ring steals your identity and spends your financial aid award? 