junior3042
Confused about dryer sheets
Hello all. Looking for some insight…
27 yo married to a DW
Retirement Investment sum $30K
Emergency Savings established
Military Income at roughly $84K (will promote Christmas Eve)
Only Debt is a car payment at $349 per month for 36 mo. (Honda Accord)
My plan is to serve at least 20 yrs in the military--desire is to serve at least 24 years, but the decision will depend on family's status. I invest heavily in the TSP Roth option. This year has been a phenomenal year as far as return go. Off the top of my head, I am somewhere in the neighborhood of 16-17% for the year. My dilemma is a secondary investment strategy. I am projected to have earned $1.9M (8% avg return) - $11.8M (15% avg return) by the time I hit the magic 59 1/2 age in order to retrieve my nest egg. This is where the dilemma is stemming. If I do 20-24 yrs of service I'll be 43-47 yo and I'll have a retirement pension at $72K-$83K annually. I'm trying to figure out a good investment strategy to supplement our income for perhaps a big purchase such as a house and pay cash for it in between the day I retire from the military upon aging to 59 1/2. I'm considering buying Vanguard's S&P fund and a couple others and continue to invest into those monthly. However, I believe I will get dinged (taxed) when I go to pull the $$ out.
Any thoughts or advice will greatly be appreciated.
27 yo married to a DW
Retirement Investment sum $30K
Emergency Savings established
Military Income at roughly $84K (will promote Christmas Eve)
Only Debt is a car payment at $349 per month for 36 mo. (Honda Accord)
My plan is to serve at least 20 yrs in the military--desire is to serve at least 24 years, but the decision will depend on family's status. I invest heavily in the TSP Roth option. This year has been a phenomenal year as far as return go. Off the top of my head, I am somewhere in the neighborhood of 16-17% for the year. My dilemma is a secondary investment strategy. I am projected to have earned $1.9M (8% avg return) - $11.8M (15% avg return) by the time I hit the magic 59 1/2 age in order to retrieve my nest egg. This is where the dilemma is stemming. If I do 20-24 yrs of service I'll be 43-47 yo and I'll have a retirement pension at $72K-$83K annually. I'm trying to figure out a good investment strategy to supplement our income for perhaps a big purchase such as a house and pay cash for it in between the day I retire from the military upon aging to 59 1/2. I'm considering buying Vanguard's S&P fund and a couple others and continue to invest into those monthly. However, I believe I will get dinged (taxed) when I go to pull the $$ out.
Any thoughts or advice will greatly be appreciated.