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Investing/Strategies / Retirement Investing
|Subject: Re: Military Personnel and Retirement Investment||Date: 12/28/1999 11:12 AM|
|Author: arahfool||Number: 16970 of 75701|
Being in the military puts me in a special situation in that I have no 401K to fund; I will get a pension upon completion of 20 years of service. I have maximized my IRA contributions, but overall I am only contributing $2000 annually toward my retirement.
The question is...what is my next move? What is the best place to put my money so that I can ensure I live a plush retirement?
Not sure how one saves enough to insure a plush retirement but keep in mind that you are not limited to investing $2000 per year. You can invest as much as you want, you just have pay taxes on the gains in the case of funds, but nothing on increases in stock prices until you sell. Lots of companies allow drips.
We are just finishing our first year of retirement, my military pension accounts for 50% of our 'income' and our current income is about 40% of my pre-retirement income. While I don't think of our lifestyle as plush , we pretty much do whatever we want to do.
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