Young Military Officer Needs Advice

[rescueme]

...REW will try to scare you away from his briar patch by telling you "Texas is infested with scorpions, rattlesnakes, fire ants, crazy raspberry ants, cockroaches on steroids, killer bees, mosquitoes, ticks, chiggers, tarantulas, brown recluse spiders, love bugs, swarming crickets, copperheads, cottonmouths, rabid skunks, wild hogs, alligators, oppressive heat & humidity, bleak desolate scenery, dirty beaches, polluted air, dust storms, drought, wildfires, water shortages, recurring floods, tornadoes, hurricanes, rednecks, huge piles of flaming mulch, spontaneously combusting playgrounds, roads hot as flowing lava, the stench of natural and unnatural gasses, amoebic meningitis lurking in area lakes, recurring Ebola virus outbreaks, flesh eating bacteria, staggering homeowner insurance rates, unbelievably high property taxes, mandatory death sentences for DUI convictions, polygamous religious sects, and, lest we forget, doesn't look kindly towards Yankees."

All true (I was stationed at a base - now closed - in Lubbock).

It was so flat that on a clear day (very few, due to the dust storms and occasional tornados) you could look at the horizon and see the curvature of the earth .

 

[LeBlanc]

I'm not sure if this thread is about investment advice or engagement ring advice..so I'll chime in on both.

I'm an AD USAF mx officer with almost 13 yrs in. I was enlisted for 5 yrs. From day one, I invested as much as I could in my Roth IRA (mix of TRowe funds) and TSP. As a butter-bar, I was able to max my IRA and put about 10% into my TSP. Today, I'm able to max both and live very comfortably.

In 2007 I accepted a 12 month remote tour to the desert. During that year, I saved quite a bit of money (used the SDP as well of course), and bought an investment property in Las Vegas (tenant in place). Over the past year, I saved more...and bought another investment property (Aug 2010) in Arizona, near Luke AFB (tenant in place). I'm currently searching for a third. I have never received an inheritance, I have zero debt (besides mortgages) and I live within my means. When I started as an E-1, my (ex)wife and I barely had $50 at the end of a payday.

My FIRE plans are primarily based in maxing my Roth and TSP contributions at least until I'm about 40 (retirement eligible) and buying a portfolio of about 10 rental properties in distressed markets...i.e. Phoenix and Las Vegas. At the current values of very attractive rental properties, most can be had for a fraction of the rental market value...with a 20% down payment of course. I suspect I'll be able to pay my 30 yr mortgages off in half the time.

I haven't calculated this to the n-th degree by any means, but I'm fairly confident that between military retirement pay, rental properties and investments, I'll be okay.

I recently got engaged at the top of Mt. Fuji. If you haven't heard of it, I recommend a website called i Do Now I Don't. I just happened to find the exact Blue Nile ring my fiance was interested in on that site...and it was at an $8K discount. It was appraised at 350% what I bought it for...and is now insured by USAA.

 

[REWahoo]

I recently got engaged at the top of Mt. Fuji.

Congratulations!

That sounds like a wonderful and romantic place to pop the question - but aren't you at least a little worried that it's all downhill from there?

 

[Nords]

That sounds like a wonderful and romantic place to pop the question - but aren't you at least a little worried that it's all downhill from there?

I was just wondering at what altitude the anoxia kicks in, but any partner you can persuade to join you at a place like that is probably worth the long haul.

 

[LeBlanc]

Congratulations!

That sounds like a wonderful and romantic place to pop the question - but aren't you at least a little worried that it's all downhill from there?

Lol...very clever. Speaking of downhill...going down Mt. Fuji is a killer on the hips and knees.

 

[Pajaro]

Keep in mind that some of the larger BXs and NEXs have jewelry stores just as big as a Zales (the one at NAS Pensacola is especially nice). For my DW's ring I waited until they had a weekend sale (20% off if I recall right) and then opened a Military Star Card account the very same day because they give you 10% off your first day's purchase. Since it's on the base you don't have to pay the sales tax either. You can then use the Star Card to buy gas on AF and Army bases for a 3 to 5 cent (sorry, not percent) per gallon discount.

 

[Bestwifeever]

....I recently got engaged at the top of Mt. Fuji. If you haven't heard of it, I recommend a website called i Do Now I Don't. I just happened to find the exact Blue Nile ring my fiance was interested in on that site...and it was at an $8K discount. It was appraised at 350% what I bought it for...and is now insured by USAA.

Congratulations! How romantic. Son just proposed last month with a ring from Blue Nile--he said it was a much better quality stone for less money (but we hope the ring doesn't end up on the site where you bought your ring!).