hawk584

iTrader: (1)

... for the military newbies and those looking to join up.. I'll start this with a number, $250,000+, over a quarter of a million dollars. What does that number mean to you and what could you do with it?....I've been in the USAF for just over 11years now. Keep in mind I'm single, no kids and don't deploy. After doing some very painful math, if only I had listened to my family and supervisors when I signed on the line a decade ago. Currently at 11years if I done what was highly recommended I could be sitting on over $100,000 in an account plus interest. At the magical 20year retirement milestone, that number could have grown to over a quarter of a million dollars at a young retirement age of 39years old. OOPS!!... So! let this be one of many lessons you youngsters will encounter throughout your lives under the iron thumb of Uncle Sam which might seem like an eternity to some and a blink of an eye to most . Live but save your money, ... I'll tell ya, I had fun! and now I'm working on getting out of the debt my fun created. 2 months ago I started to put money into a savings account. When I retire in about 8 years my account will be just over $100,000.... I don't know about you but To me, over a quarter million dollars / $250,000 looks and sounds a whole lot better then a hundred grand. Save your money!!!!

~ An AirFoce guy

Hardcoresoldier

iTrader: (2)

if you invest $150/month each month from 16-25 and let it sit in an investment account, you would have approx 1.5 mil by the time you hit 65....

I wish I had started investing years ago.....I plan on starting this year- little lat at year 12 and 34yo lol

99WS7

iTrader: (13)

Good thread...I too wish I would have started earlier. I just hit my 14 year mark last week and I started getting my finical act together a little over two with the TSP. Now I have a better understanding of mutual funds etc so I have a better idea where to put my money. I'm currently debating to continue using my regular TSP that I've been putting 15% in for about 30 months or go with a Roth and pay the tax now...any thoughts? Also on the Roth debating using the TSP Roth over a civilian Roth.

SAVE SAVE SAVE!!!

You can still have toys and save...just gota be smart about it.

EODguyJake

Must be nice. I'm single with no critters as well, so I feel ya there! From a different perspective, if I come back alive and with all my parts and pieces, I blow it. I won't lie. I shouldn't say blow it...I have nice things to show for it. But, you come...regularly...you start having short term goals. Very short term. If I live to see retirement, I'll worry about the income at that point. I should have my toys bought and paid for by then anyways.