Search found 828 matches

by SpecialK22
Sun May 13, 2018 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Lucrative careers?
Replies: 318
Views: 24857

Re: Lucrative careers?

I think you're going about this backwards. Look for what jobs or combinations of jobs interest you, then figure out how to make six figures. If you have a talent and passion for what you do - and money is what drives you - making six figures shouldn't be too difficult. Certain career paths are easie...
by SpecialK22
Fri Mar 23, 2018 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 10841

Re: Losing friends/family when wealthy

Could be a lot of factors at play and many are outside of your control. If you're not flashy or boastful about it then I see the problem more with others than you. I'm also a government worker and just based on that fact I've noticed some resentment from older relatives that are retirement age or re...
by SpecialK22
Thu Feb 22, 2018 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Military FIRE; 7 years to go & losing motivation--HELP!
Replies: 36
Views: 3669

Re: Military FIRE; 7 years to go & losing motivation--HELP!

There are two full time military jobs in the Reserves/National Guard that could fit your desires. 1. AGR - Active Guard Reservist, basically Title 10 or Title 32 active duty at a Guard/Reserve base with very similar pay/retirement as regular active duty, but at a Guard/Reserve base and less likely ...
by SpecialK22
Thu Feb 22, 2018 9:21 am
Forum: Personal Finance (Not Investing)
Topic: Military FIRE; 7 years to go & losing motivation--HELP!
Replies: 36
Views: 3669

Re: Military FIRE; 7 years to go & losing motivation--HELP!

Wow, you're doing very well and would definitely be set to FIRE in seven years. I did active duty Air Force and then went Air Guard, and I personally love the Guard side of the house. I'm a traditional Guardsman, but there is a program called Active Guard Reserve (AGR) which is essentially being act...
by SpecialK22
Sat Jan 27, 2018 5:34 pm
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5125

Re: Opted into the new military retirement system/BRS

Otherwise, for just about everyone else, I agree that it's impossible to predict that you're going to be the 1 out of 6 who cliff-vests in a military pension. In that case BRS makes a lot more sense. Ok, I gotcha. It's a playing the odds thing where even if a service member thinks he or she will st...
by SpecialK22
Fri Jan 26, 2018 2:25 pm
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5125

Re: Opted into the new military retirement system/BRS

Doctors like you (with active-duty obligations like that) are about the only servicemembers who could stick with High Three . Would you please clarify this, especially from a Guard/Reserve standpoint? My general impression has been that those expecting to do 20 or more should stay legacy, and those...
by SpecialK22
Mon Dec 04, 2017 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 9080

Re: The College Bubble - investment opportunities after the collapse?

Howdy If education in your view is overvalued, short it and go long on ignorance. Best of luck. Happy investing W B Yes; if you think studying Artificial Intelligence is overvalued, it’s much less expensive to study Natural Stupidity :D When it comes to these arguments it's not that education or le...
by SpecialK22
Sat Dec 02, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 9080

Re: The College Bubble - investment opportunities after the collapse?

Like others mentioned, I'm not sure where investment opportunities are since traditional education in the US is generally non-profit. The rising costs do seem unsustainable, and I'm sure something will have to change. Anecdotally, in my line of work the college degree path is inferior to the enliste...
by SpecialK22
Tue Nov 28, 2017 4:44 pm
Forum: Investing - Help with Personal Investments
Topic: 401k and TSP Limits - Blended Retirement System
Replies: 8
Views: 1063

Re: 401k and TSP Limits - Blended Retirement System

Guard salary: $30-45k TSP: 5% or $1,500-$2,250 Gov match: 5% or $1,500-$2,250 Is that salary correct for a traditional guardsman? It could be if you frequently do ATPs or go on orders, but seems very high if you are a "one weekend a month, two weeks a year guardsman." If the match is only for UTAs ...
by SpecialK22
Sun Nov 26, 2017 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: The fallacy of spending money on "experiences" vs hard assets
Replies: 336
Views: 21190

Re: The fallacy of spending money on "experiences" vs hard assets

I personally believe that shared experiences are the best things to spend money on. Granted, there are many solo trips that I have done which were great. A big part of that though was meeting new people, so I guess it still comes down to shared experiences. There are consumption items that in hindsi...
by SpecialK22
Fri Sep 22, 2017 6:10 am
Forum: Investing - Help with Personal Investments
Topic: Investing Advice - Military
Replies: 13
Views: 1088

Re: Investing Advice - Military

Welcome! I like the idea of focusing on maxing out as close to possible the Roth TSP/IRA while living off of taxable. The military compensation structure strongly favors Roth because taxable income is generally kept low. I'd take a guess that for a civilian job to match your compensation they would ...
by SpecialK22
Wed Aug 09, 2017 10:55 pm
Forum: Investing - Help with Personal Investments
Topic: Separating from the Military
Replies: 4
Views: 724

Re: Separating from the Military

Great start on the financial side! With your wife making $80k a year and you using the post 9/11 GI Bill, you'll definitely be able to save aggressively for a down payment and then some even accounting for NYC costs. You would also be eligible for a 0% down VA loan if you so choose. If you go the do...
by SpecialK22
Sun Aug 06, 2017 9:30 am
Forum: Investing - Help with Personal Investments
Topic: Do I have enough to retire-retire from the military
Replies: 42
Views: 4958

Re: Do I have enough to retire-retire from the military

Just back of the envelope, but I think you're looking good. $57,000 inflation adjusted pension + $45,000 (3% of 1,500,000) = $102,000 You'll have retiree healthcare immediately upon retirement. Quick search says the cost for a family plan is just $555.84 per year. If you still have the Post 9/11 GI ...
by SpecialK22
Mon Jun 26, 2017 4:32 am
Forum: Investing - Help with Personal Investments
Topic: Another Roth vs. Traditional debate, but for high-income Feds
Replies: 15
Views: 2138

Re: Another Roth vs. Traditional debate, but for high-income Feds

I prioritize Roth accounts for the forecasted reasons that your presenters currently live. I'm in the 28% tax bracket and the combination of FERS Special, a Reserve component pension, and SS Supplement will by themselves put me firmly in the 28% bracket immediately on retirement in my mid-50s. Down ...
by SpecialK22
Thu May 18, 2017 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Learning how to spend
Replies: 27
Views: 3289

Re: Learning how to spend

Thank you all for the responses and great suggestions. Finding the balance seems to be getting harder as I am definitely beginning to feel the wealth effect kicking in (I know there are many on this board doing much better than me though :wink: ). Maybe I just need a recession to bring me back to re...
by SpecialK22
Thu May 18, 2017 2:02 am
Forum: Personal Finance (Not Investing)
Topic: Learning how to spend
Replies: 27
Views: 3289

Learning how to spend

Warning: Emotional Post Since a major part of my identity is that of a saver, I've been wrestling with the fact that I may be oversaving. Wealth effect may also be playing a role as my aggressive saving started in 2008. As such I never really felt the pain of the bear market. It just seemed like my ...
by SpecialK22
Wed Apr 26, 2017 6:38 am
Forum: Investing - Help with Personal Investments
Topic: Fed and newbie boglehead seeking portfolio advice
Replies: 17
Views: 1955

Re: Fed and newbie boglehead seeking portfolio advice

OP, How are you planning to retire as a fed (FERS) @ 50? Are you under a special provision (e.g.; law enforcement, firefighter, etc)? ... You're correct, I'm under a special provision that allows full retirement at 50 with at least 20 years of service How are you able to stay until 60? I thought al...
by SpecialK22
Fri Apr 21, 2017 12:11 am
Forum: Personal Finance (Not Investing)
Topic: College Tuition Waivers and the National Guard
Replies: 2
Views: 577

Re: College Tuition Waivers and the National Guard

Did four years active Air Force then switched to the ANG. Education and healthcare are two things that the military does a good job of providing. As those two areas have been some of the fastest increasing costs for most of the population, I think military service has increasingly become a good fina...
by SpecialK22
Tue Mar 07, 2017 5:47 pm
Forum: Investing - Help with Personal Investments
Topic: roth vs traditional 401k
Replies: 16
Views: 1594

Re: roth vs traditional 401k

I'm in similar situation and have chosen Roth for two main reasons: 1.) I max out the full $23,500 (Roth 401k + Roth IRA) a year. A Roth allows me to tax shelter a larger amount. 2.) Right now paying the taxes does not present any financial hardship for me. It's a behavioral hedge against a possible...
by SpecialK22
Tue Feb 21, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: What are the big things to get right?
Replies: 91
Views: 14847

Re: What are the big things to get right?

This is from the perspective of a millennial. But there's some of us here. The big things to get right: 1. House 2. Student loans 3. Cars Everything else is inconsequential. And saving a latte a day won't make up for the +$1000/month in car payments. The McMansion mortgage. Or the mega student loan...
by SpecialK22
Sat Feb 18, 2017 3:08 am
Forum: Personal Finance (Not Investing)
Topic: "With $15 Left in the Bank, a Baby Boomer Makes Peace With Less" -- A cautionary tale
Replies: 37
Views: 5914

Re: "With $15 Left in the Bank, a Baby Boomer Makes Peace With Less" -- A cautionary tale

Interesting. I'm either a late Gen X or early Millennial depending on how it's defined, but I wonder how my generation will end up in middle age. Overpaying for college seems to be a major problem for many in my generation, but I admit that might just be anecdotal. It also reflects my own biases. Li...
by SpecialK22
Sun Jan 15, 2017 1:45 pm
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 9628

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

SpecialK22, A) Please note that by going 100% to Roth, you cannot afford to be wrong. You cannot get the money back from IRS. The decision could be disastrous. Why would you place your bet on (A)? If you are right, you save some tax. If you are wrong, it is disastrous. Can you please elaborate on i...
by SpecialK22
Sun Jan 15, 2017 10:02 am
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 9628

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

Those who have a pension and are early in their careers might reasonably be expected to have more income in retirement than they do now. While I'm not early in my career, I'm still a couple of decades away from retiring in my 50s. I'm still expecting some decent career progression between now and re...
by SpecialK22
Thu Jan 12, 2017 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Best Financial Moves You've Made
Replies: 158
Views: 23325

Re: Best Financial Moves You've Made

Avoided overpaying, particularly taking on large debt, for three things:

Education
Cars
Homes

There is generally strong societal pressure to spend lavishly in these three categories. They are also some of the easiest products to get financed.
by SpecialK22
Wed Oct 12, 2016 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: [Any Advice for trying to get a government job?]
Replies: 5
Views: 689

Re: [Any Advice for trying to get a government job?]

Veterans' preference points along with applicable job training were huge factors for me getting hired by the Federal Government. Obviously, joining the military is a large commitment but I think it's the surest path to federal employment. The last general bid for my career field was open for a week ...
by SpecialK22
Mon Oct 10, 2016 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Crossing the line (becoming a miser)
Replies: 71
Views: 11117

Re: Crossing the line (becoming a miser)

Expensive beer has just as many calories as cheap beer My argument isn't that a miser replaces food calories with cheap beer rather than expensive beer. My argument is that miserly behavior is to largely disregard health to save money. not all fast food is bad, you can go to subway 1.) Subway is li...
by SpecialK22
Mon Oct 10, 2016 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Crossing the line (becoming a miser)
Replies: 71
Views: 11117

Re: Crossing the line (becoming a miser)

From my perspective, here are two prime examples that I've seen that I would consider miserly: Missing your ten year old daughter's birthday to work overtime for the time-and-a-half pay. Someone else is willing to work it for you, and you don't particularly need the money. Your mindset is that acqui...
by SpecialK22
Tue Sep 27, 2016 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Net Worth Milestone Today - $1.5M
Replies: 128
Views: 20844

Re: Net Worth Milestone Today - $1.5M

Congratulations Meg! This is more directed at the detractors: I think one of the benefits of this board is the ability to openly discuss one's personal finances. Even if nothing is "actionable"--I personally don't feel that about her post--this board still provides an outlet for emotional concerns s...
by SpecialK22
Tue Aug 02, 2016 5:18 am
Forum: Personal Consumer Issues
Topic: Vacation loans
Replies: 37
Views: 4550

Re: Vacation loans

This sounds like a marketing twist on a personal loan--kind of push towards certain consumers for why they might need a personal loan. Taking a loan to go on vacation falls into the same category as getting an MBA from an unaccredited online school... the consumer's heart is in the right place, but ...
by SpecialK22
Wed Jul 06, 2016 1:51 am
Forum: Personal Finance (Not Investing)
Topic: Money vs. Happiness
Replies: 94
Views: 13412

Re: Money vs. Happiness

I think most everyone struggles with finding the balance between career/money and relationships. Since you seem to be finding yourself more dissatisfied with your situation, it might be time to leave. At 30 with around $220k and the ability to find work for $100k+ in an area that you want to live is...
by SpecialK22
Thu May 26, 2016 10:59 am
Forum: Investing - Theory, News & General
Topic: Can I just let my money compound now?
Replies: 51
Views: 7204

Re: Can I just let my money compound now?

anything's possible, but I wouldn't bet on it. If you put it all in equities and get a fortuitous 7% real for the next 40 years, you'd have $1.5 million in purchasing power at age 65. That'd certainly be enough. And that is the historic return of the S&P, give or take... Are you sure you're account...
by SpecialK22
Fri May 06, 2016 4:26 am
Forum: Investing - Theory, News & General
Topic: Numeracy and Wealth
Replies: 44
Views: 7277

Re: Numeracy and Wealth

Since the language of money is math, it seems intuitive that numeracy would play a large role in determining those best at accumulating it. Personally, I'm around average when it comes to mathematical concepts (I have the standardized test scores to back it up). That's why I like indexing so much, i...
by SpecialK22
Thu May 05, 2016 7:12 am
Forum: Personal Consumer Issues
Topic: Peculiar Airline Pricing
Replies: 22
Views: 4427

Re: Peculiar Airline Pricing

Throwaway ticketing is against most or all airlines' conditions of carriage. Will they likely come after you if it isn't a clear trend? Probably not.
by SpecialK22
Tue Nov 24, 2015 11:15 am
Forum: Personal Finance (Not Investing)
Topic: PhD Mechanical Engineer --> Law School?
Replies: 47
Views: 5552

Re: PhD Mechanical Engineer --> Law School?

Second, there are Patent and Trademark Office jobs that are also no-JD required that can pay quite well for gov't. Originally, I was going to come in here and suggest this path also. A couple of friends went this route after finishing their engineering degrees. Good salary and benefits with a seemi...
by SpecialK22
Sun Oct 11, 2015 10:17 pm
Forum: Personal Consumer Issues
Topic: Thinking of quitting job for a year of travel
Replies: 59
Views: 6515

Re: Thinking of quitting job for a year of travel

I'd say go for it! It sounds like the time off shouldn't have a major negative effect on your career, and you will probably end up having lived a more enriched life. A thought problem which might help with the decision: If after your travels you would have no recollection of having gone, would you s...
by SpecialK22
Sun Oct 11, 2015 9:53 pm
Forum: Investing - Help with Personal Investments
Topic: To pay for [children's] college education? Or not ...
Replies: 206
Views: 19608

Re: To pay for [chidren's] college education? Or not ...

For the OP, this certainly isn't an either or decision and keep in mind money is fungible. However, if looking at it through option A and option B, I would personally see option A as the more beneficial choice. Being debt free when starting out in life allows for a great deal of freedom and alleviat...
by SpecialK22
Tue Sep 29, 2015 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Is private high school "worth it"?
Replies: 130
Views: 10709

Re: Is private high school "worth it"?

I (and most of my siblings) attended Catholic schools from K-12 despite living in a very good school district. My parents are deeply religious, so that was the main factor in them wanting to send us to Catholic schools. Even though I went to a parochial school from K-8, I think only five or so of my...
by SpecialK22
Mon Sep 14, 2015 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Future Government Pension
Replies: 9
Views: 2435

Re: Future Government Pension

Probably the greatest risk to the pension would be getting contracted out. Even the union isn't 100% against the idea; however, the only option they will entertain is a non-profit option where benefits remain intact. I'd guess that a pension of some sort will still exist in 25 years. Making it throu...
by SpecialK22
Mon Sep 07, 2015 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Question for the Bogleheads Millionaires
Replies: 372
Views: 68454

Re: Question for the Bogleheads Millionaires

From posts here it makes it seem to be a lawyer with a virtually guaranteed route to big law you need to go to Harvard, Yale, or Princeton for your JD. I've been a lawyer for a long time now, and have never met anyone with a JD from Princeton. Yeah, that's my mistake. I meant Stanford and not Princ...
by SpecialK22
Sun Sep 06, 2015 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Question for the Bogleheads Millionaires
Replies: 372
Views: 68454

Re: Question for the Bogleheads Millionaires

It's straightforward in the US to get a $150K+/year job with the right education. That's a typical starting salary for someone from a good JD or MBA program or any med school. You don't need to be particularly creative or even a very productive employee to earn that kind of salary. True, but don't ...
by SpecialK22
Mon Jul 27, 2015 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Job with TSP + pension vs 401k 12% cash match
Replies: 16
Views: 2349

Re: Job with TSP + pension vs 401k 12% cash match

It seems you're most concerned with the retirement benefits package each job offers, so if you break it down through contributions you get this: Federal Job Paid by the employee: TSP 5% Regular FERS FRAE 4.4% Paid by the employer: TSP match 5% Regular FERS FRAE 11.1% Healthcare benefits in retiremen...
by SpecialK22
Tue Jul 21, 2015 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Military career or Top MBA
Replies: 37
Views: 5697

Re: Military career or Top MBA

I'd agree that being an IMA is probably your best option to continue service while carrying on a busy personal and professional life, especially as an officer. Even though the regular reserves can be flexible, as an officer a lot more would be expected of you since you would be put in a leadership r...
by SpecialK22
Thu Jul 02, 2015 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Defending Public Safety Employees' Retirement Act
Replies: 8
Views: 2387

Re: Defending Public Safety Employees' Retirement Act

It's "50 is the new 55." Everybody gets an exception to the penalty in the case of distributions from a work retirement plan after separation from service with that employer, when the separation occurs in (or after) the year in which you reach age 55. "Public safety employees" (meaning "any employe...
by SpecialK22
Thu Jul 02, 2015 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Defending Public Safety Employees' Retirement Act
Replies: 8
Views: 2387

Re: Defending Public Safety Employees' Retirement Act

Yep, I just used the title of the Act as the subject. My understanding is that for government employees in the prescribed career fields "50 is the new 59.5" after December 31, 2015. I had heard, but I could not find it written, that it also required that the individual be retired from government ser...
by SpecialK22
Thu Jul 02, 2015 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Defending Public Safety Employees' Retirement Act
Replies: 8
Views: 2387

Defending Public Safety Employees' Retirement Act

For any Federal law enforcement officers, customs and border protection officers, firefighters, and air traffic controllers here, President Obama signed this act into law June 29. Basically, it allows for penalty free distributions from government retirement plans after age 50. To amend the Internal...
by SpecialK22
Wed Jun 24, 2015 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Financial Counseling for a Veteran
Replies: 2
Views: 436

Re: Financial Counseling for a Veteran

http://www.militaryonesource.mil/ is a great free resource that includes financial counseling. I have never used the financial counseling portion though, so I can't comment on it. I'm also not sure if he would be eligible, but based on the seeming level of his disability he might. The eligibility pa...
by SpecialK22
Thu Jun 11, 2015 5:54 am
Forum: Investing - Help with Personal Investments
Topic: For those of you with pensions...
Replies: 26
Views: 5622

Re: For those of you with pensions...

I tend to have faith that social security, a military pension, and a civilian government pension will exist in some form when I reach the respective ages where I can claim them. Just by adding up my contributions to the civilian government pension, social security, TSP up to match, and TSP match I a...
by SpecialK22
Fri Jun 05, 2015 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Federal Employment
Replies: 86
Views: 12525

Re: Thoughts on Federal Employment

Ditto the comments about job security and benefits, although some local governments have some excellent benefits as well. Overall I greatly enjoy it, but it certainly isn't without its headaches. I will add this: Federal jobs can be competitive and hiring processes can be fickle. Within my career fi...
by SpecialK22
Tue Jun 02, 2015 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Western Governor's University (WGU)
Replies: 15
Views: 5251

Re: Western Governor's University (WGU)

A couple of years ago I looked seriously into attending WGU, but opted against it for two major reasons: 1.) I was using the Post-9/11 GI Bill and living in a high cost of living area. The tax-free housing rate was around three times as much if I had at least one class which had an in-classroom comp...
by SpecialK22
Tue May 19, 2015 8:43 am
Forum: Personal Finance (Not Investing)
Topic: [Veterans who rec'd EMT training may be fast-tracked to civilian certification]
Replies: 34
Views: 3605

Re: Jobs for Retired Air Force (without degree)

By no college degree I assume you mean this person has no bachelor's degree. More than likely they have completed their Community College of the Air Force associate's degree. They probably also have a fair amount of additional college credits that they might be able to use towards completing a bache...