military finance

Edit : I just want to thank everyone who has shared their experience and advice. I was honestly thinking that I would receive a lot of negative feedback/no don’t do this which to my surprise, has not been the case. I cannot wait to start this new chapter in my life and see where this adventure...

I just broke the 200k net worth line and since I can’t say it to many people I felt like saying it here. I’m proud. I have a mortgage and no more debt. No kids yet but soon. My partner earns around 30k. 30y/o. E-6 w/9 years TIS. Checking = 16k. HYSA= 25k. TSP = 65k. IRA = 23k. Brokerage = 72k...

Also posted on r/personalfinance Hello Y'all. I (25M) am planning on buying my current family home at 200k and am applying for a mortgage. My parents are buying their retirement home. I am ready with my 20% down, with my parents giving me 15% of a gift of equity. I have some more in savings...

Needing guidance, Im leaving to basic in 2 weeks and I don’t have a clue how these work. I’m first in my family so don’t have anyone to ask besides this group. Can anyone explain/suggest percentages? From what i’ve read- 100% in C-Fund, 0% in MGBI. Could be bad advice for all I know so any...

Read about somebody who actually did something about it, and then go see your Military Housing Office.

Air Force O-2 with 3 years TIS and no debt. This is the first year I’ll fully max out my Roth TSP, currently contributing 35%. I pin on O-3 in Aug, so around Jun I’ll probably submit a change in MyPay to decrease the percentage slightly. The extra I’ll just use to buy S&P 500 shares, which I...

Greetings, I am roughly 1.5 years out from retiring and looking to forecast what expenses hit AFTER leaving service. I sat through TAP recently and have identified a few, looking for a community sanity check. Background: At retirement will be 38m, married to 38f civ. I am retiring as an E-6...

Happy Sunday / Mother’s Day! I was curious for those who retired at the O-5+ level. How is life retired? Was it hard getting VA %? Any tips for a Junior Officer debating if military retirement is for them? What was your realistic net worth when you did retire? Thank you for your service & time...

I'm a currently drilling member of the Iowa National Guard. I am currently receiving the standard 1606 GI bill rate of $362 (or $365 I'm not sure if it goes up or stays what it what it was when I applied.) I have in my contract a G.I. Bill "Kicker," but I'm not sure how to get it. I've talked...

With the September CPI data the BLS released yesterday, all the information need to calculate the TSP contribution limit for next year is available. Below are the updated TSP contribution tables. Due to base pay going up by 4.6% and the contribution limit going up by about 9.6%, most...

I bought a new Toyota Camry for 25k. Today I googled the MSRP of a new Camaro and it was also 25k. I honestly wish I just spent my money on the Camaro. To all of you A1Cs wishing to buy a Camaro my advice would to you is definitely cop the Camaro as you really aren’t getting a bad deal ONLY AND...

I asked a question along these lines before but thought I’d rephrase w/ detail. I have money in a CD through Navy federal, took advantage of 5% return for 15months - it’s up in May. Money in an investment account with vanguard that is split between a mutual fund vmfxx and efts (VTI, VXUS, BND...

Hey all, I’m going to Navy OCS in about a month. I’m already “active duty” through a collegiate program and I have a Navy Federal account. Anyone know how difficult it is to get approved for this loan? I think my credit is pretty good… I know these apps aren’t “official” credit reports but...

Current plan is to pay off ALL debt and start from scratch. But wondering now if it’s better to invest some and pay off some. Outstanding debt Approx 40k in 2 vehicle loans. Loan 1 approx 10k at 3% Loan 2 approx 30k at 4.6% Wife’s student loans Approx 19k at 4.04% Credit Card debt CC 1...

What’s the best way to divide my check into my tsp or most amount I should put in as an E-1? And still have a good chunk left over on my check, I’m single, no kids

I’ve received OCONUS orders and have asked myself, why should I pay taxes to a state I won’t live at anymore? I was thinking about taking a flight down to Florida to buy a P.O. box and get a new drivers license, and switching my address to that P.O. box with admin so taxes won’t be deducted...

Young Vet need advice for first time home-purchase Currently, I use my GI Bill with around 2 years of school remaining until I get my bachelor's of Computer Science. My mother is blind and I was likely going to claim her as a dependent as I care for her so I may have a little bit of help from...

So according to OPM, But we all know plenty of retirees who work GS jobs. I've always understood that the pension is reduced for retirees who take federal jobs, but not gone completely. If there is an annuity for those who could qualify for a second retirement, how is it calculated? I...

Hi, I’m 25 years old, I joined back in June 2021 when I was 24. I’m currently putting 8% into my TSP and 12% into my Roth IRA. (Total 20% of my pay) My current blend is C: 35% S: 28% I: 17% F: 3% G: 2% L 2050: 5% L 2055: 10% I basically leaned towards the most high risk/high reward funds...

I've posted here before but now that I'm a few months in, I thought I'd repost. I'm a new O-1 and at my current duty station I make 4945 a month before taxes. After taxes, MGIB, and my TSP, I'm left with 3825. My TSP is invested in the L2050 fund. I contribute 15% to the Roth TSP every month...