Greetings, nash031 - DINK, 36-yo military officer

[nash031]

I am afraid you will have to do something w*rk related, lest you become a SAHD and *not* retired.

Wife and I both acknowledge that I am *NOT* wired for full-time daddy, so I'll find something that gets me out of the house, for sure!

 

[cnocmmz]

Greetings!

Defining DINK - dual-income no kids... don't think I saw that one on the acronyms post!

Wife (32) and I (36) are both employed. She's (non-profit director) got a good defined-contribution plan with 12% matching that we max out. I (13.5-year Naval officer) max TSP, we both max IRAs, continue contributing to taxable accounts as well. We have a good start on our portfolio, but we're not millionaires (yet). We have well into six-figures in equity in our still-mortgaged home. Pretty good at LBOM, saving about 45% of gross every year, but could probably get even better.

Not sure if I'm sticking out 20 years on active duty for the pension, but understand the fantastic inflation-adjusted benefits. If I don't finish out 20 active, I will finish out as a reservist for the healthcare and retirement later. Part of that decision will come down to what lifestyle my wife and I decide we want (spending level in retirement) and whether or not we're going to have children.

Enjoyed reading forum posts and Nord's book enough to join. Love the "human capital" discussions in the appendices there, specifically regarding the often-overlooked increased risk tolerance for someone in the military (or with similar benefits/stability of employment). Am considering adjusting my portfolio balance up from its current 75/25 to a 90/10, and particularly so if I ultimately decide to cash in an active-duty pension.

Not sure what I want to do when I grow up, but the prospect of retiring at age 42 is something I'm definitely interested in. The lifestyle choice and having children decisions to be made in the next year or so will weigh heavily on that. In any event, I don't think I want to work (for someone else, anyway) well into my 50s, so we'll be working to that end.

Glad to be here, looking forward to learning more.

Good day and thank you for your service. As a young Officer, you guys are doing very well at this point in your career. Take it from this old retired CMC, and finish up your 20 year career. Doing the math, at your 20 year mark at age 42 years old you will have a guaranteed good pension annuity for a 40 years or longer. Between 5K-6K per month X 12X 40=Big $$$$$$$. Keep maxing out TSP and investments for that last 7 years or so.
Then if you like, start another short 10 year career and then walk away. You will be fine.

 

[ncbill]

You’re welcome; I’m glad it’s helping!

Child-only SBP is a great choice, especially when you’re more interested in term life insurance.


“Disappointed” is a good word for that philosophical (“generational”?) divide over there. I feel an affinity for those folks but there are days when I feel as if I’m wasting my time on them.

I wouldn’t have minded that retiree (of senior rank) posting something self-referential like “I just can’t bring myself to trust the 4% SWR” but instead he had to tell a junior officer “You can’t reach FI by age 35”.

Like you, I’m getting PMs (from other junior officers) asking for more details about FI and SWRs and everything else. As adversarial as part of the SailorBob discussion might be, it’s helping to raise awareness and get other people to start down the FI path.

I will certainly be referring my newly-minted ensign to this thread and your book.

Assuming they make it through flight school & get something close to what they want after that they'll have an ADSO of a decade anyway, so they might as well go career.

 

[nash031]

- Navy Retirement Approved for 1/1/2020.

- We reached my initial FI target and presently sit about $50,000 above it with the market down off its high and still 7 months of compiling left.

- I'm in the throes of deciding what's next. I'm thinking the "Semi-ER" route is the route I'll take. That is, I may work a contracting gig for a few years, or I may go sell bike parts to cover the small amount of difference between my wife's income + my pension and our spending.

The only open question is, do I want to really work for the brass ring? I kinda doubt it, but I think a bridge career or a semi-ER side gig makes some sense for me. We'll see soon enough!

Quick bonus update!

Unofficially retired from the Navy. I've enjoyed the last six weeks off getting reacquainted with the house and family! I've made good progress on a couple of projects that were placed on the backburner following my daughter's birth and my subsequent deployment.

Our savings are now about $200,000 above what I had projected as our "target" for my retirement date - thanks Mr. Market!

I've accepted a job here in San Diego with a 10 minute commute, and having nothing to do with the Navy whatsoever. I'm pretty excited, a little intimidated too... it's a "for real" adult job, with matching compensation, so I guess I've decided to work to reach for a bit of a brass ring.

The more I thought on this, the more I realized that it wasn't the idea of working that was turning me off... it was the idea of contracting and doing something that I didn't feel like had a whole lot of meaning to me. In short, I didn't want to do something that wasn't going to be terribly challenging just to get me out of the house and collect a paycheck I probably don't really need.

I've worked on my cycling and coaching gigs on the side, but those will remain on the side for now while I pursue this bridge career. In short, I'll be the general manager of a local charter company with full P&L for $20MM in revenue. Quite a responsibility, but definitely something different and challenging. I'm excited for it, with the backboard of knowing what's been said on this great forum so often over the years: if I don't like it, I know financially we're well off enough that I don't have to keep doing it, and I can transition to something a little slower.

For now, I'll go off and dip my toe into the business world and see how it goes. I can't stay home all day with the two girls - I love them, but they'd make me crazy... so my notional timeline going in is to work until they're in school, probably four years or so. That doesn't sound so bad... especially without deployments or long waits for gate traffic!

 

[Potstickers]

Wishing you all the best. Congratulations!