Newly Commissioned Officer looking for tips on retirement plans

[aplarson]

Hi all,

I'm a newly commissioned Signal Officer (1 year in), and I'm looking for guidance on what savings plans to invest in on my age. A little bit about myself, I'm a Signal Officer who is currently stationed in Fort Riley. I'm slated to go to Ranger Regiment after my 12 months on station here. I become a 1st Lt in April. Any advice is appreciated.

Thanks,

Drew

 

[arky]

Thank you for your service. I always take notice of Fort Riley as I wiz by on I-70. You'll find a strong leaning toward stock index funds here. In general, start as young as you can and save as much as you can. You'll be glad you did, 20 to 30 years from now.

 

[HFWR]

Hi all,

I'm a newly commissioned Signal Officer (1 year in), and I'm looking for guidance on what savings plans to invest in on my age. A little bit about myself, I'm a Signal Officer who is currently stationed in Fort Riley. I'm slated to go to Ranger Regiment after my 12 months on station here. I become a 1st Lt in April. Any advice is appreciated.

Thanks,

Drew

Welcome!

You could start with Retirement Planning Resources - Early-Retirement.org Links Directory.

Then, check out our resident nuke submariner turned long-haired hippie surfer's site at **Start here!**.

 

[Sniggle]

Definitely open up a Roth IRA, in addition to the TSP, and look to max the Roth. Think about 40 years of growth, all tax free. If you have a spouse, open up a Roth in her name also.

 

[av8er]

Definitely open up a Roth IRA, in addition to the TSP, and look to max the Roth. Think about 40 years of growth, all tax free. If you have a spouse, open up a Roth in her name also.

+1

Also, guard against "lifestyle creep" as your pay increases over the course of your career. Live comfortably, rather than extravagantly, and you'll be surprised at how much money you'll be able to put back into retirement savings.