islandcyclone
Confused about dryer sheets
- Joined
- Jul 30, 2015
- Messages
- 4
[FONT="]Hey all -thank you for your activity here-great & helpful posts. Me: 45 y/o active duty officer whose been eyeing ER for a few years. I’ve been continued to my MRD in late 2018 for 20 year retirement. I saw the writing on the wall years ago so I’ve been an avid reader of this awesome site, MMM, and am a big fan of[/FONT][FONT="] [/FONT][FONT="]Nords. I’m ready to put my plan out there for input.
[/FONT] [FONT="]I want to Expat close to where I have extended family in SEA, where my folks are planning to move, & where I’m also eligible for a second citizenship/passport after mil retirement. Single, no kids, no alimony. I’d like to burn through the last couple of years of my GI Bill there either learning a new language or whatever. The cost of living is at least 30-40% (60%-70% by some accounts) lower than the US for the basics. I may do some slow travel or PT till I’m tired of it.
[/FONT] [FONT="]If the plan is unsound, then I’m currently in a fair position for a federal jb (maybe $70,000/year) or other civilian wrk ($35,000-$50,000/year). Or I'll consider another field with some VA training too but thinking of that while I’m engulfed in the fog of work is a challenge.
[/FONT] [FONT="]Data in annual figures:[/FONT]
[FONT="]<$18k-current living expenses for everything; tracked through the USAA “Track money” tool. (Includes monthly mortgage at $860. Everything else-car, food, entertainment, etc is minimal). I don't know how it's possible but I don't feel deprived at all.
[/FONT][FONT="]Debt:[/FONT]
[FONT="]$137K-House/Mortgage ($50K equity, est. house value $211K-[FONT="]will[/FONT] sell to avoid state residency in retirement; buying was maybe not the [FONT="]best[/FONT] decision but I’ll have lived[FONT="] in it [/FONT]for 5 years by 2018)[/FONT]
[FONT="]$4k-TSP loan (to be paid off in a couple of months)
[/FONT] [FONT="]I'm projecting estimated overseas living expenses to be the same [FONT="]as now [/FONT]for the first few years just to be safe. (Marriage/dating-been there, done that, but you never know so I’d adjust fire). I've trained myself to be frugal, so even the below budget seems high.[/FONT][FONT="]
Expected annual expenses:
[/FONT][FONT="]$4.5K-income tax (kind of fuzzy on this & estimate on taxable investments are not included)[/FONT]
[FONT="]$150.00-FY16 healthcare enrollment[/FONT][FONT="] (catastrophic cap $3k) [/FONT]
[FONT="]$5k-housing rental/utilities (more than what I need)[/FONT]
[FONT="]$2.4k-food; research & family info says most local food/restaurants are cheaper than the US [/FONT][FONT="]by [/FONT][FONT="]at least 50%[/FONT]
[FONT="]$1.2k-alcohol, tobacco, caffeine[/FONT]
[FONT="]$1.2k-entertainment[/FONT]
[FONT="]$1k-out of pocket health care
[/FONT][FONT="]$1k-misc[/FONT]
[FONT="]$1.5k-travel
[/FONT][FONT="]Other expenses:[/FONT]
[FONT="]–will need a vehicle up front, which can run high due to import taxes [/FONT]
[FONT="]-assistance to parents as they age[/FONT]
[FONT="]-slight chance of property purchase once citizen is obtained
[/FONT][FONT="]Income: [/FONT]
[FONT="]$44K cola’d retirement pay pretax; begins late 2018[/FONT]
[FONT="](not included is 2 years of GI Bill income which will far outweigh tuition & expenses for all universities in country)
[/FONT] [FONT="]Nest Egg:[/FONT]
[FONT="]$105K-Taxable Brokerage Acct [/FONT]
[FONT="]$152K-TSP Traditional [/FONT]
[FONT="]$19.5K-Roth TSP [/FONT]
[FONT="]$17.5K-Roth IRA [/FONT]
[FONT="]$9850-Trad IRA[/FONT]
[FONT="]Current Allocation: 13% Cash, 56% US Bonds, 27% US Stocks: I’m fairly active investing but now exposure is lower due to market conditions. I mostly track with the TSP Seasonal & use a subscription guide for investing.
[/FONT] [FONT="]Savings plan is to continue to max out TSP & Roth Accounts & add no less than $30K annually to the Taxable Acct until retirement (the goal is $450k in all combined accounts). Post retirement-keep expenses low & keep adding to the Taxable Brokerage Acct before applying a SWR plan when I think I've enough.
[/FONT][FONT="]Every other day & especially when the jb kicks me in the gut, I run FIRECalc or other calcs which give 100% success. What I’m missing? How I might do it better? Do I need to start preparing for a bridge [/FONT][FONT="]career? Thanks.[/FONT]
[/FONT] [FONT="]I want to Expat close to where I have extended family in SEA, where my folks are planning to move, & where I’m also eligible for a second citizenship/passport after mil retirement. Single, no kids, no alimony. I’d like to burn through the last couple of years of my GI Bill there either learning a new language or whatever. The cost of living is at least 30-40% (60%-70% by some accounts) lower than the US for the basics. I may do some slow travel or PT till I’m tired of it.
[/FONT] [FONT="]If the plan is unsound, then I’m currently in a fair position for a federal jb (maybe $70,000/year) or other civilian wrk ($35,000-$50,000/year). Or I'll consider another field with some VA training too but thinking of that while I’m engulfed in the fog of work is a challenge.
[/FONT] [FONT="]Data in annual figures:[/FONT]
[FONT="]<$18k-current living expenses for everything; tracked through the USAA “Track money” tool. (Includes monthly mortgage at $860. Everything else-car, food, entertainment, etc is minimal). I don't know how it's possible but I don't feel deprived at all.
[/FONT][FONT="]Debt:[/FONT]
[FONT="]$137K-House/Mortgage ($50K equity, est. house value $211K-[FONT="]will[/FONT] sell to avoid state residency in retirement; buying was maybe not the [FONT="]best[/FONT] decision but I’ll have lived[FONT="] in it [/FONT]for 5 years by 2018)[/FONT]
[FONT="]$4k-TSP loan (to be paid off in a couple of months)
[/FONT] [FONT="]I'm projecting estimated overseas living expenses to be the same [FONT="]as now [/FONT]for the first few years just to be safe. (Marriage/dating-been there, done that, but you never know so I’d adjust fire). I've trained myself to be frugal, so even the below budget seems high.[/FONT][FONT="]
Expected annual expenses:
[/FONT][FONT="]$4.5K-income tax (kind of fuzzy on this & estimate on taxable investments are not included)[/FONT]
[FONT="]$150.00-FY16 healthcare enrollment[/FONT][FONT="] (catastrophic cap $3k) [/FONT]
[FONT="]$5k-housing rental/utilities (more than what I need)[/FONT]
[FONT="]$2.4k-food; research & family info says most local food/restaurants are cheaper than the US [/FONT][FONT="]by [/FONT][FONT="]at least 50%[/FONT]
[FONT="]$1.2k-alcohol, tobacco, caffeine[/FONT]
[FONT="]$1.2k-entertainment[/FONT]
[FONT="]$1k-out of pocket health care
[/FONT][FONT="]$1k-misc[/FONT]
[FONT="]$1.5k-travel
[/FONT][FONT="]Other expenses:[/FONT]
[FONT="]–will need a vehicle up front, which can run high due to import taxes [/FONT]
[FONT="]-assistance to parents as they age[/FONT]
[FONT="]-slight chance of property purchase once citizen is obtained
[/FONT][FONT="]Income: [/FONT]
[FONT="]$44K cola’d retirement pay pretax; begins late 2018[/FONT]
[FONT="](not included is 2 years of GI Bill income which will far outweigh tuition & expenses for all universities in country)
[/FONT] [FONT="]Nest Egg:[/FONT]
[FONT="]$105K-Taxable Brokerage Acct [/FONT]
[FONT="]$152K-TSP Traditional [/FONT]
[FONT="]$19.5K-Roth TSP [/FONT]
[FONT="]$17.5K-Roth IRA [/FONT]
[FONT="]$9850-Trad IRA[/FONT]
[FONT="]Current Allocation: 13% Cash, 56% US Bonds, 27% US Stocks: I’m fairly active investing but now exposure is lower due to market conditions. I mostly track with the TSP Seasonal & use a subscription guide for investing.
[/FONT] [FONT="]Savings plan is to continue to max out TSP & Roth Accounts & add no less than $30K annually to the Taxable Acct until retirement (the goal is $450k in all combined accounts). Post retirement-keep expenses low & keep adding to the Taxable Brokerage Acct before applying a SWR plan when I think I've enough.
[/FONT][FONT="]Every other day & especially when the jb kicks me in the gut, I run FIRECalc or other calcs which give 100% success. What I’m missing? How I might do it better? Do I need to start preparing for a bridge [/FONT][FONT="]career? Thanks.[/FONT]