Could someone give me a med check:My financial bio: O4 in Military26 yrs in military, hope to do 9 more I am 50 years oldMy wife is 56Mine is the only incomeNo kidsNo debtNo house payment, Rent now but military covers rentNo car paymentsMilitary 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 Savings52K in checking8K in emergency/treat fund3K in CDWhen we buy something we round up to next $10 for every checkbook entryHow am I doing?New to investing.Need some more direction.
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
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!
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.
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