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@theeyeofaneedle Ok yes, granted. A SEAL should probably have more life insurance. But for the vast majority of the military that aren't SEALs... SGLI should probably be enough.

@theeyeofaneedle I'm not sure the point of life insurance is to pay off your house. Also, what if you rent? What if the living spouse wants to move? Relevant: How much life insurance do you need

@thiennguyen I know the founder Jeremy personally, he runs the @personalfinanceclub Instagram and is a straight shooter. There's a few guys/gals on Nectarine that specialize in military topics. Like someone else mentioned below, maybe start with free on base resources or Military One Source...

@lilfoxkit Can you elaborate? As an E-2 or O-1, $400k wouldn't be enough?

@thiennguyen You could talk to an advisor at https://hellonectarine.com for $150. 1 hour with a Certified Financial Planner could do you wonders. Fee only financial advice with no upsell, commissions, or other bullshit.

@kgb52 Thanks Couple of people have been saying this, I suppose I will have to listen :) Right, need to fix that Good catch, will add the comparison.

@carlawalker Yeah don't max early! Set your contributions so you leave at least 5% in December. Here's the contribution math done for you: https://www.reddit.com/r/MilitaryFinance/s/31YIllpmZm

@revelation2012 I got big plans for retirement ;) Honestly I just had to pick a line. I'm open to changing that amount but I want to get the point across that Roth makes sense for most servicemembers until you make O-3 with a few years or higher.

@miyuchan That's a good one, but it's a bit complex. I'm trying to go simpler.

@sharklordy Adding that. But I don't want people to get stuck on that. Especially without getting to $1000 emergency fund and 5% BRS TSP match.

@holywater123 As in which one to max out first?

@deanie Nothing wrong with an all S&P500 portfolio. QQQ is heavily tech. Any reason you're betting so hard on that sector? Personally I'm VTI / VTSAX Vanguard Total Stock Market Index Fund plus some VXUS / VTIAX for international flavor. US returns have crushed international for the last...

@ds909002 Yeah... creating healthy financial habits is very similar to creating healthy eating and fitness habits. This is part of the reason I'm resistant to adding the word "budget" to the image. I don't really care how they manage their money, just as long as they aren't living beyond their...

Seeing lots of TSP related threads so trying on an annual, pinned to the top mega thread to consolidate a lot of the questions and knowledge. Please comment with your questions and we will add the most frequently asked ones on the top. What is the TSP? The TSP or Thrift Savings Plan is an...

@plains Good call, I will add that. Step 0.

@holywalk Yes, remove the complexity. I like it. Tough for me to remove it because I feel like $6000/year is such a more tangible and achievable goal for more enlisted/young Os. But probably simpler the better.

@myrtleblossom That's a good flow chart, but a bit convoluted. I'm trying to do the "1 note card" approach

@resjudicata Yes, for the tax advantages. Also, will 60 year old you not need money? There are ways to access retirement funds before age 59.5. https://www.madfientist.com/how-to-access-retirement-funds-early/

Hello fellow TSP investors. I'm working on a one page "Personal Finance Flowchart for Military Servicemembers" https://i.imgur.com/0LMKpg8.jpg v1.0 v2.0 with community edits It's inspired by and similar to this one from r/personalfinance and the old one: Looking for feedback. I'm trying...

Before starting a new thread about TSP asset allocation, please read this thread and ask questions in this thread if clarification is necessary. Suggested reading if you are going to deviate from a TSP Lifecycle Fund: Bogleheads Guide to Investing The Little Book of Common Sense Investing A...