EpicRider
Dryer sheet aficionado
Finally reaching out for some advice & ER motivation. I have really enjoyed visiting this site off/on for the past couple years and appreciate all the great advice. My DW & I are trying to decide if time is right for semi-ER in 2016 or maybe a couple more years active duty and full ER 2018/19. Oh yeah, and yes, I have already have read Nord's (Doug Nordman) book "The Military Guide..." but I should review it again.
A little more background...
- 48 year old military officer in San Diego; married 25 years; two DD; one in college & one graduating HS this year. Promoted to 06 in 2012; eligible to submit for transition/retirement with 26 years of service in 2016.
- 2016 potential semi-ER or possibly one more tour...probably requires another military move & complete ER 2018/19.
Assets:
$129K TSP (non Roth; 52% 2030 fund)(33% C fund)(15% S fund) & $22K tax-exempt combat pay investment
$64K USAA Roth IRA (USNQX & USSPX funds)
$55K USAA Roth IRA (DW) (USNQX & USHYX funds)
$38K USAA USSPX Fund
$112K MM (Emergency fund & future house down payment)
Current home equity ~$150K; (San Diego market); plan to relocate out of California; most likely Colorado Springs
*Earliest Social Security is 2028; ~$1,700/mo
Current Monthly income:
$10K; not including housing allowance (14% TSP allotment)
Current Monthly expenses:
$6100 (We have a more detailed budget.)
#1 DD college is covered by GI bill & scholarships; #2 DD is planning to attend community college for first 2 years...final two years are TBD at this point.
Projected 2016 monthly pension (26 years): $5,036/mo (20% tax rate)*
Projected 2018 monthly pension (28 years): $6,000/mo (20% tax rate)*
*I am planning to take max SBP (6.5% pre tax) and we are tracking ongoing discussions related to military Tri-care expenses, etc...
Projected expenses in Colorado Springs
$5200/mo (We have a transition budget, based on downsizing and a less expensive cost of living in Colorado. Final house decision will be a major factor; we want to find something in the $350-375 range and make a large down payment.)
Appreciate any ER advice, comments, insight into issues I have not considered....
Thanks for reading my long post & Semper Fi!
A little more background...
- 48 year old military officer in San Diego; married 25 years; two DD; one in college & one graduating HS this year. Promoted to 06 in 2012; eligible to submit for transition/retirement with 26 years of service in 2016.
- 2016 potential semi-ER or possibly one more tour...probably requires another military move & complete ER 2018/19.
Assets:
$129K TSP (non Roth; 52% 2030 fund)(33% C fund)(15% S fund) & $22K tax-exempt combat pay investment
$64K USAA Roth IRA (USNQX & USSPX funds)
$55K USAA Roth IRA (DW) (USNQX & USHYX funds)
$38K USAA USSPX Fund
$112K MM (Emergency fund & future house down payment)
Current home equity ~$150K; (San Diego market); plan to relocate out of California; most likely Colorado Springs
*Earliest Social Security is 2028; ~$1,700/mo
Current Monthly income:
$10K; not including housing allowance (14% TSP allotment)
Current Monthly expenses:
$6100 (We have a more detailed budget.)
#1 DD college is covered by GI bill & scholarships; #2 DD is planning to attend community college for first 2 years...final two years are TBD at this point.
Projected 2016 monthly pension (26 years): $5,036/mo (20% tax rate)*
Projected 2018 monthly pension (28 years): $6,000/mo (20% tax rate)*
*I am planning to take max SBP (6.5% pre tax) and we are tracking ongoing discussions related to military Tri-care expenses, etc...
Projected expenses in Colorado Springs
$5200/mo (We have a transition budget, based on downsizing and a less expensive cost of living in Colorado. Final house decision will be a major factor; we want to find something in the $350-375 range and make a large down payment.)
Appreciate any ER advice, comments, insight into issues I have not considered....
Thanks for reading my long post & Semper Fi!