murfsteve25
Confused about dryer sheets
- Joined
- Aug 14, 2009
- Messages
- 3
I'm turning 23 years old in October. I'm married and have 2 kids. Luckily I have just completed my 2nd year in the Air Force, so I have a steady paycheck. My problem is I have not been very smart with my money these past few years. I love baseball, and I am a memorabilia COLLECTOR, which means I buy expensive memorabilia and then they sit around and collect dust! Finally after being sick and tired of living from paycheck-to-paycheck while my memorabilia keeps rolling in, I've decided I'm done with it. No more buying stuff that just sits around. I've sold a handful of my items and raised a decent amount of money. I will continue to sell the items that I've realized I dont really want.
So thats step 1 in my turn around, which is to identify my problem and to quit. Now I need to figure out the right things to do with my money. I don't have an IRA, no CD's, no house, nothing major like many people on this forum have, but ever since i've enlisted I've had a TSP...so at least I've got that. I just recently opened a Savings account that is seperate from the account my paycheck goes into. I started an allotment for a few hundred bucks each paycheck to go directly in the savings. My goal is be as frugal as I can for a while and save up any extra money I can. Aside from the TSP and savings account, I would like to look into getting a CD someday in the near future. My incomming cashflow isn't really that much right now to do all 3 at once (TSP, savings and CD) so the CD will have to either wait until I get promoted or deployed...OR I can stop money going into my savings and put that towards a CD.
Can I get some advice on if I am on the right track or not? Would anyone do anything different?
My ultimate goal is to be able to retire from the AF at 40. The pension will be nice to have. I dont want to RETIRE persay, but I would like to have enough money at that age to buy a home and some do some things that id enjoy. When I turn 40, I want to have at least $400,000 that I'd be ready to use. Where should I start?
So thats step 1 in my turn around, which is to identify my problem and to quit. Now I need to figure out the right things to do with my money. I don't have an IRA, no CD's, no house, nothing major like many people on this forum have, but ever since i've enlisted I've had a TSP...so at least I've got that. I just recently opened a Savings account that is seperate from the account my paycheck goes into. I started an allotment for a few hundred bucks each paycheck to go directly in the savings. My goal is be as frugal as I can for a while and save up any extra money I can. Aside from the TSP and savings account, I would like to look into getting a CD someday in the near future. My incomming cashflow isn't really that much right now to do all 3 at once (TSP, savings and CD) so the CD will have to either wait until I get promoted or deployed...OR I can stop money going into my savings and put that towards a CD.
Can I get some advice on if I am on the right track or not? Would anyone do anything different?
My ultimate goal is to be able to retire from the AF at 40. The pension will be nice to have. I dont want to RETIRE persay, but I would like to have enough money at that age to buy a home and some do some things that id enjoy. When I turn 40, I want to have at least $400,000 that I'd be ready to use. Where should I start?