Search results

@tlmonty There are too many unknowns for me to give a more definitive TL;DR-style yes/no answer than the bottom line. Hopefully OP finds the discussion useful, even if I was a little long-winded. May God protect you and bless all your endeavors, sailor.

@blade10327 Good! I was a little worried, having seen soldiers get screwed on 0% introductory rates and find themselves in big trouble. Since you have no matching contributions, it's better to just turn all contributions off until you're secure with no high-interest debt and a 6-month emergency...

@thiennguyen I would go to MilitaryOneSource and your local base's community service center first. They're free. They tend to specialize in helping people who've made far dumber choices with their money than you have, but a lot of them can be quite helpful to people like you too, and the price...

@kloverated The 8% planning factor was more based on short term volatility and risk management than inflation, which would affect both asset choices. I mention the tax factor because I didn't see that specifically mentioned, and it's a factor I've seen many people forget about making these...

@blade10327 Think of this like treating a casualty. Right now, You're bleeding out financially and asking about a transfusion. The right answer is to stop the bleeding. You need a tourniquet, a pressure dressing, and the recovery position. The tourniquet: You need to stop spending on anything...

@homeforhealth Your assumptions about 12% market gain over 9 years are very optimistic; I'd plan for more like 8%. This drops your expected gains to something like $330K, which is in the ballpark of your real estate returns/equity growth. As I see it, there's not a lot difference in the gains...

@thiennguyen Congrats on the baby on the way! Overall, I'd say you're in pretty good shape for where you are. You have goals and methods to work towards them, and you're not making any big mistakes that I can see. I'll address your questions in bold below. - How much should we be saving for...

@thiennguyen I'm not familiar with the real estate market where you live, but at this point, you have about $64K in equity on a $350K house. If you sell at the price you think it's worth (which is not guaranteed), you'll have closing costs, realtor commissions, and other associated expenses that...

@werise55 Good on you for thinking seriously and deliberately about your financial planning now. Before I begin, I would urge you to think about your money more in exponential terms than linear terms. You speak of a HYSA (High yield savings account); it's better to think of it in terms of the...