UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Next Thread
Author: SECLDO Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1491  
Subject: NEED FINANCIAL MED CHECK Date: 1/31/2014 4:03 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Could someone give me a med check:

My financial bio:
O4 in Military
26 yrs in military, hope to do 9 more
I am 50 years old
My wife is 56
Mine is the only income
No kids
No debt
No house payment, Rent now but military covers rent
No car payments
Military TSP = 6% of base pay*
Wife Roth = 6500/yr*
My Roth = 6500/year*

*(Until recently I was only contributing $125/month to my wife’s Roth, I did not have a Roth and I had 15% of my base pay going into Military TSP.

40K in Savings
52K in checking
8K in emergency/treat fund
3K in CD
When we buy something we round up to next $10 for every checkbook entry

How am I doing?
New to investing.
Need some more direction.
Print the post Back To Top
Author: NuclearRedneck Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1476 of 1491
Subject: Re: NEED FINANCIAL MED CHECK Date: 1/31/2014 2:46 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
1) You ought to bump your TSP to 20% of base pay while keeping your ROTHs fully funded.
2) Look around for a good place to put some of the 52K in checking that will get you some interest.
3) What do you have your TSP and ROTHs invested in? You need to treat them as a combined asset pool so that you can balance your portfolio.
4) Do you plan to work after you retire in 9 years? What are your goals? Travel? Charity work? Move to Colorado and smoke your retirement away?

I'm an O-5 with 18 years in, stay at home wife, two kids, and a mortgage. I put away 20% of my base pay, fully fund our ROTHS and pay cash for our vacations. We also pay extra on our mortgage each month.

Cheers, Nuclear Redneck

Print the post Back To Top
Author: mazske Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1477 of 1491
Subject: Re: NEED FINANCIAL MED CHECK Date: 1/31/2014 6:49 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hey there, sirs. I'm a retired ETC, USNR.

May I suggest to both of you to give a 30 day free trial to Stock Advisor? I've been a member of Stock Advisor since 2005 and I'm averaging 20% annually since then.

I just recently joined Rule Breakers also, but my suggestion to start is to test the waters with Stock Advisor. I hope to see you on the SA boards soon.

Remember, Free 30 day trial to see if you do want to join up.
Oh, also, as a proud dad, my oldest is currently in his 3rd year at the US Coast Guard Academy. As much as I love the Navy, the Coast Guard really rocks!

Print the post Back To Top
Author: ybckorea Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1490 of 1491
Subject: Re: NEED FINANCIAL MED CHECK Date: 8/20/2014 3:38 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
If they et you do 9 more you retirement should be pretty well funded. You can afford to try PRO, ONE, or other services at MF that should get you started and well on your way to financial knowledge. Been investing for 40 years and also started with SA back in 05. You can afford to make a few mistakes now, but you need to learn fast. You didn't get to 04 by being slow. RIFs are an ever present danger.

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev Thread | Next Thread
Advertisement