No. of Recommendations: 0
I see where the vagueness made it hard to reply so I wanted to give a clearer picture:
Wife and I are in our early 40's.
We own a business and I'm an Army Reservist.
I am still taking a check ($10/hr)from the business while being deployed as I do much for her online and that's how I planned to keep contributing to the Simple IRA.
I chose Simple IRA instead of a 401k since we have over 40 employees and they come and go quickly (restaurant). Trying to minimize the paperwork and obligation to offer to employees that aren't long term types.
I am thinking of doing some agressive property investing when I get back, we currently own 5 properties, 9 units.
Our family ambition is to purchase our first "vacation" rental in NC, SC, or FL when I return.
About $300K in Trad & Roth IRAs
Over $200K avail to invest allowing room for emerg. funds both pers. and bus.
Only bus debt including rentals is a $98K bal on bus. loan at 4%.
Only consumer debt is a car pmt at $24K balance at .9% financing. (yeah, I know it should have been paid off but that was before I got notice of deployment and I thought I would use their money and buy property or invest my money.
I obviously can't purchase anything other than investments so property is on hold. I'm trying to figure out what to do with the cash present and avail by the end of the year. I won't be home till March 2016.
We should make about $300K this year and roughly 60 of that won't be taxed in the combat zone.
I'm thinking pay everything off, $98K on business and $24K on auto loan. I wanted to max out the Simple IRA, Contribute to the military TSP (still seeking advice on ability to invest in the Roth version of the TSP) and then putting the rest in a taxable investment like SPDR, EFT's, or just a Vanguard Fund(s).
Now, let me have it Fools!
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.