Search found 202 matches

by Nords
Sun Dec 09, 2018 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning for new military member - multiple questions
Replies: 36
Views: 2015

Re: Financial planning for new military member - multiple questions

He got his ROTC scholarship and signed the contract in the fall of 2016. He got his CAC card only this year, in August I believe. Based on this, it seems like he "should" get the 4% additional match next year when he commissions and chooses to contribute the max allowed into Roth TSP. Do I have thi...
by Nords
Sun Dec 09, 2018 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning for new military member - multiple questions
Replies: 36
Views: 2015

Re: Financial planning for new military member - multiple questions

Thank you, nords, for a such a long and very detailed response! I really appreciate you taking your time to share your knowledge! I do have clarifying question on TSP matching of 4%, if you don’t mind. You write: “His 4% matching contribution (for a total of 5% agency/matching contributions) will s...
by Nords
Sat Dec 08, 2018 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning for new military member - multiple questions
Replies: 36
Views: 2015

Re: Financial planning for new military member - multiple questions

...DFAS uses the remaining amount for withholding estimated taxes and for FICA. Even if he’s chosen to withhold zero taxes from his pay, DFAS has still coded the Roth TSP max percentage to ~60%. The traditional TSP contribution limit in MyPay is 92%, again because of the 7.45% FICA. Thanks for that...
by Nords
Sat Dec 08, 2018 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning for new military member - multiple questions
Replies: 36
Views: 2015

Re: Financial planning for new military member - multiple questions

I'm a little late to this thread, @Snowman, but here's more details on the answers which others have already handled. Here is what he wants to accomplish: he wants to change his state residency to a state that does not charge state income tax (apparently this is very common among military). His firs...
by Nords
Thu Dec 06, 2018 8:41 pm
Forum: Local Chapters and Bogleheads Community
Topic: Hawaii Bogleheads, where are you?
Replies: 29
Views: 4954

Re: Hawaii Bogleheads, where are you?

t3ztam3nt wrote:
Thu Dec 06, 2018 8:20 pm
Bumping up to see how everyone on the island is doing.

It sure is starting to get cold at dawn.. :beer
We got all the way down to 59 degrees this morning! Pretty soon I'm going to have to start wearing a 2 mm long-sleeve neoprene rash guard to hold back the hypothermia...
by Nords
Sat Nov 24, 2018 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Military help re:income from the government
Replies: 4
Views: 528

Re: Military help re:income from the government

YoungAtHeart, I don't know what "A/C my brother's name RET/DEC" means, but the RET acronym could stand for "retired". If your brother was still in uniform on the date of his death (active duty or Reserve/National Guard) then the check would've been earned income. However if your brother was in a com...
by Nords
Thu Nov 22, 2018 4:55 pm
Forum: Investing - Help with Personal Investments
Topic: Deployment TSP limitation question
Replies: 13
Views: 1757

Re: Deployment TSP limitation question

Greetings from a CZTE location. Maybe I was misunderstanding the "just remain below $18,500 in Roth TSP and you'll be able to contribute towards the additional limit", but here's a data point that I believe does not fully support that blanket advice. This is a screenshot from my Oct LES. The plan w...
by Nords
Tue Nov 20, 2018 4:28 pm
Forum: Investing - Theory, News & General
Topic: USAA getting out of mutual fund biz
Replies: 39
Views: 5132

Re: USAA getting out of mutual fund biz

I was willing to pay USAA a premium in fees for convenience and aggregation. Now that they've sold their investment arm to Victory Capital (who are these people? nobody seems to know), not only am I mad sick about it, I'm determined to take my investment portfolio to Vanguard or Fidelity. My challe...
by Nords
Sat Nov 17, 2018 4:10 pm
Forum: Investing - Theory, News & General
Topic: USAA getting out of mutual fund biz
Replies: 39
Views: 5132

Re: USAA getting out of mutual fund biz

I still remember their early ads - 3 out of 10 officers insure with USAA, then it was 5 out of 10, eventually 9 out of 10. After that, they stopped mentioning it. They were running out of prospective members, so they first opened the field of membership to military children, then senior NCOs, then ...
by Nords
Sat Oct 27, 2018 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard, Costco, Coursera...
Replies: 39
Views: 5420

Re: Vanguard, Costco, Coursera...

I've been to a number of USAA conferences and I'm familiar with their business model. How do the enlisted military not notice that they don't get competitive rates,though? Do they just not shop around? E.G. premium comparisons from Hawaii, when you compare USAA vs USAA CIC vs Garrison P&C vs USAA G...
by Nords
Sat Oct 27, 2018 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard, Costco, Coursera...
Replies: 39
Views: 5420

Re: Vanguard, Costco, Coursera...

This stuff is pretty subjective, however; I haven't done any sort of deep analysis, just perhaps my "grumpy old guy" perspective? Yes, it's your grumpy old guy perspective. I've been to a number of USAA conferences and I'm familiar with their business model. When I was a young officer on active dut...
by Nords
Tue Oct 23, 2018 10:55 pm
Forum: Personal Consumer Issues
Topic: Playing with FIRE(Financial Independence) documentary trailer.
Replies: 35
Views: 5462

Re: Playing with FIRE(Financial Independence) documentary trailer.

Wow, guys, a few of these posts have some pretty cynical commentary. I hope you’ll take the time to learn a little more about the project. It’s not about "extreme" nickel-squeezing for the 4% SWR (let alone enduring “sacrifice” or deprivation), although I made a point about saving $16K/year on a $40...
by Nords
Sun Oct 07, 2018 11:27 am
Forum: Investing - Help with Personal Investments
Topic: 41yo Military Member with a Plan?
Replies: 8
Views: 849

Re: 41yo Military Member with a Plan?

I am looking at investing at 90% stock and 10% bonds, I plan on keeping the money in the accounts for the next 20 years and feel I can absorb a downturn due to my pension. Questions: 1. Do my purposed allocations look alright or am I overlooking something. All feedback welcome That’s what we’re doi...
by Nords
Mon Sep 17, 2018 2:25 pm
Forum: Investing - Help with Personal Investments
Topic: Reducing expense ratios and simplifying... perhaps with a single fund.
Replies: 11
Views: 1098

Re: Reducing expense ratios and simplifying... perhaps with a single fund.

Does that mean you are unloading all of your BRK-B ? :) After extensive debate, we’ve reluctantly concluded that we’ll never sell our Berkshire shates. We might donate them to charity someday, or pass them through probate, but there’s no reason to sell. Right now they’re extremely tax-efficient and...
by Nords
Sun Sep 02, 2018 11:32 am
Forum: Investing - Help with Personal Investments
Topic: Reducing expense ratios and simplifying... perhaps with a single fund.
Replies: 11
Views: 1098

Re: Reducing expense ratios and simplifying... perhaps with a single fund.

Thanks, everyone, I always wonder whether I’ve missed a blindingly obvious issue. As long as you understand the risks with being 100% equites and are willing to accept them it looks like a good plan. Being the money is long term and you don't really need it plus your dual pensions puts you in a good...
by Nords
Sun Sep 02, 2018 7:02 am
Forum: Investing - Help with Personal Investments
Topic: Reducing expense ratios and simplifying... perhaps with a single fund.
Replies: 11
Views: 1098

Reducing expense ratios and simplifying... perhaps with a single fund.

What could kill off a large equity index fund? Am I missing something? My spouse and I are simplifying our investing by picking a single fund with a low expense ratio. I’d like to check for any selection oversights. Here’s the relevant summary of our assets: we reached financial independence (high s...
by Nords
Wed Aug 22, 2018 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Military career/college options (engineering - nukes?)
Replies: 45
Views: 2740

Re: Military career/college options (engineering - nukes?)

Hey, PSteinX, you’re getting good advice— particularly from the submariners. I’m also a (retired recovering) submariner, although Rickover just yelled at me and threw me out once before drafting me into the service. Ironically, very few Navy nuclear-trained officers (from carriers or submarines) wan...
by Nords
Tue Aug 14, 2018 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Career Transition after Military
Replies: 13
Views: 1269

Re: Career Transition after Military

FlyFishGuy, the only advice I have to add to your question would be to listen to Justin Nassiri’s “Beyond The Uniform” podcast and absorb the advice of the 150+ veterans who’ve gone before you. He interviews a lot of MBAs and finance career vets.
by Nords
Sat Aug 04, 2018 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: retiring from military to federal job
Replies: 15
Views: 1716

Re: retiring from military to federal job

My memory is vague - but are there any differences in the rules for "Reserve Officers"? Military retirees from the Reserves and National Guard have a federal waiver to both buy their military service credit deposit (with a higher civil-service pension) and still keep their Reserve/Guard pensions. h...
by Nords
Sat Aug 04, 2018 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: retiring from military to federal job
Replies: 15
Views: 1716

Re: retiring from military to federal job

I'm curious about the implications in retiring from the military (normal retirement after 20 years service) and then taking a federal civil service job. Are there specific issues or decisions in the process? Hi, Curmudgeon, I get these questions a lot. Federal law requires that military retirees wa...
by Nords
Fri Aug 03, 2018 9:53 am
Forum: Investing - Help with Personal Investments
Topic: Deployment TSP limitation question
Replies: 13
Views: 1757

Re: Deployment TSP limitation question

Based on what i’ve Read so far, my plan is to contribute 5% to maximize agency matching for the months of Nov and Dec. The remainder of my Roth TSP, I’ll max out while deployed. So some follow up questions: 1) Once I leave combat zone, will I be able to contribute to traditional TSP? I have read fr...
by Nords
Sun Jul 22, 2018 12:26 am
Forum: Investing - Theory, News & General
Topic: Robert Merton on NewRetirement Podcast
Replies: 46
Views: 5342

Re: Robert Merton on NewRetirement Podcast

But corporate pensions in particular are increasingly bought from insurance companies, in other words, as annuities. And sometimes the retiree has the option of a tax deferred lump sum or a lifetime monthly payment. (I don't think military or government pensions offer the lump sum option.) I can't ...
by Nords
Sun Jul 22, 2018 12:22 am
Forum: Investing - Help with Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 157
Views: 14074

Re: Should I Dump a Pile of Money on Young Son?

Wife and I are set and might live 30 more years whereupon estate taxes might be a concern. Mother died and left me $1M. Considering whether to disclaim in favor of son. Would ask him to hang onto it until wife and I are both dead. Son is nearly 24, left home after high school and has not asked for ...
by Nords
Fri Jul 20, 2018 11:12 pm
Forum: Investing - Help with Personal Investments
Topic: Deployment TSP limitation question
Replies: 13
Views: 1757

Re: Deployment TSP limitation question

Hello, I’m currently deployed where I am eligible for CTZE pay. My confusion with maximum contribution limit is this: my deployment is from May-October. I am contributing to Roth TSP up to $18,500 then switching over to traditional and contributing as much as I can but won’t hit the $55,000 limit. ...
by Nords
Sat Jul 14, 2018 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: Career Advice: Preparing for military retirement
Replies: 10
Views: 1491

Re: Career Advice: Preparing for military retirement

Currently planning for my post military career after retirement and need some advice. While I'm not yet sure what field I'm interested in pursuing, I have a few years to prepare so the MBA interest is largely driven by desire to be competitive as my military specialty is field artillery which doesn...
by Nords
Sat Jul 07, 2018 12:23 pm
Forum: Investing - Help with Personal Investments
Topic: Deployment TSP limitation question
Replies: 13
Views: 1757

Re: Deployment TSP limitation question

'Nords' has written quite a bit on the topic. Search his posts & PM him with your situation. Thanks, Fishing50, and I've swapped PMs with the OP! I understand $18.5K limit applies to contributions before and after deployment. For you, DFAS computers will stop tax deferred (tax exempt in CZTE) contr...
by Nords
Sat Jun 23, 2018 3:40 pm
Forum: Investing - Help with Personal Investments
Topic: Value of a Military Retirement
Replies: 30
Views: 3906

Re: Value of a Military Retirement

Are you enjoying being a physician in the military? Or are you merely putting up with it while you ponder the pension and lifetime healthcare bennies? If the former, then no question - stay for the retirement perks. If the latter, well... As mentioned earlier, it seems more of a lifestyle question....
by Nords
Sat Jun 16, 2018 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Multi-year Service Agreement - take it now or later?
Replies: 4
Views: 511

Re: Multi-year Service Agreement - take it now or later?

Thanks, Nords! I always appreciate your insight. As a side note, you were one of the people who gave me the best advice - don't buy a home in the military. That put me at peace and gave me a different perspective on my 'numbers' - now we are aggressively building our diversified nest egg instead. T...
by Nords
Sat Jun 16, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Special Needs Trust
Replies: 31
Views: 2766

Re: Special Needs Trust

I am a 35yo physician just finishing up my last few years of training and trying to figure out finances. I have an 8 yo daughter who was born prematurely and has a lot of medical needs. Luckily, I am in the military and her healthcare is covered 100%. I don't have a lot of assets (~$150,000) but I ...
by Nords
Sat Jun 16, 2018 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Multi-year Service Agreement - take it now or later?
Replies: 4
Views: 511

Re: Multi-year Service Agreement - take it now or later?

Well, one way would be to opt in to the Blended Retirement System now, so that your DoD matching TSP contributions will compound faster than the portion of the High Three pension you'll give up. If you're already opted in to the BRS then you could serve concurrent obligations by signing up for the C...
by Nords
Tue May 08, 2018 12:33 am
Forum: Investing - Help with Personal Investments
Topic: Retirement at 43-45 (Military)
Replies: 17
Views: 3112

Re: Retirement at 43-45 (Military)

Sandi_k wrote:
Tue May 08, 2018 12:14 am
https://the-military-guide.com/3-steps-retire-early-military-salary/

https://the-military-guide.com/
Rich Carey (RichOnMoney) is another servicemember with great advice! Thanks, Sandi.
by Nords
Sat May 05, 2018 11:01 pm
Forum: Personal Consumer Issues
Topic: T-mobile military deal for families
Replies: 3
Views: 797

Re: T-mobile military deal for families

For you military retirees, T-Mobile knocked our monthly one-phone bill down to $55/month (from $57.84). We don't use Netflix so I didn't ask about that. However their lower bill also removed our account's 2GB cap on bandwidth, which could be handy in the future. The verification was simple-- I diale...
by Nords
Sat May 05, 2018 10:57 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement at 43-45 (Military)
Replies: 17
Views: 3112

Re: Retirement at 43-45 (Military)

Welcome, Mazur, and I recommend starting with these two pieces of advice: 1. Take it one enlistment at a time, and don't plan on going to 20. https://the-military-guide.com/dont-gut-20-leave-active-duty-reserves-national-guard/ This advice also implies that you should opt in to the Blended Retiremen...
by Nords
Sat May 05, 2018 10:48 pm
Forum: Personal Consumer Issues
Topic: id.me
Replies: 5
Views: 961

Re: id.me

Do any of you have any experience, good or bad, with this organization. Can they be trusted? They can be trusted at least as much as any other startup in this field. They've been in business for over eight years (including federal govt contracts), and they've survived far longer than most. I met a ...
by Nords
Sun Apr 29, 2018 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: AF pilots and retention bonus, glad you stayed or happy you went?
Replies: 27
Views: 4136

Re: AF pilots and retention bonus, glad you stayed or happy you went?

I agree with point 2... My point is that the military transition decision is a lot more complicated (and much more highly individual) than “Just take the money” and “It’s only 10 more years”. I agree that the OP is happy... so far. He asked what we would’ve done differently if we took bonus money, ...
by Nords
Sun Apr 29, 2018 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: AF pilots and retention bonus, glad you stayed or happy you went?
Replies: 27
Views: 4136

Re: AF pilots and retention bonus, glad you stayed or happy you went?

Even without a retention bonus, it almost always makes the most financial sense to stay in the full 20 by the time he has 10 years in. Don't underestimate the value of the military pension. Managing two careers can be difficult. A lot of people do it, even if the husband has to be a geo bachelor. T...
by Nords
Fri Apr 27, 2018 11:57 pm
Forum: Personal Finance (Not Investing)
Topic: AF pilots and retention bonus, glad you stayed or happy you went?
Replies: 27
Views: 4136

Re: AF pilots and retention bonus, glad you stayed or happy you went?

If you separated at 10 years, why? Are you happy with your decision? What would you have done differently? If you accepted the pilot bonus, why? Are you happy with your decision? What would you do differently? So, the big question for us: do we take the bonus and get security at the cost of losing ...
by Nords
Sat Apr 21, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: 3 years away from leaving military and buying home
Replies: 5
Views: 820

Re: 3 years away from leaving military and buying home

Purchase a condo/hotel room near the Strip for $150,000-$200,000 (or higher if I can qualify for a loan). Attend graduate school for a masters in education/get certified to teach in Las Vegas with my GI Bill, which pays for tuition and a $1,500/mo housing stipend for 3 years. Possibly work at the n...
by Nords
Sat Apr 14, 2018 6:31 pm
Forum: Investing - Help with Personal Investments
Topic: 6 yr Progress Update and Checkup
Replies: 8
Views: 1541

Re: 6 yr Progress Update and Checkup

Well done!! Check out 72(t) distributions for your bridge to 59.5 http://www.retireearlyhomepage.com/wdraw59.html Thank you! I appreciate that information. Regarding bridge options, I found this site the other day and it really made me feel better about and also think differently about continuing t...
by Nords
Sat Mar 31, 2018 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Rent or Buy? Military Doc. What would you do?
Replies: 46
Views: 3701

Re: Rent or Buy? Military Doc. What would you do?

Thank you, Nords. I appreciate you chiming in! I’ve enjoyed your posts and anticipated your conclusion based on the posts you linked. They make sense. Let me ask you this - given my higher likelihood of staying at a location longer than the average service member, would there ever be a theoretical ...
by Nords
Sat Mar 31, 2018 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Rent or Buy? Military Doc. What would you do?
Replies: 46
Views: 3701

Re: Rent or Buy? Military Doc. What would you do?

Thank you, everyone. Very helpful. Hey, RamblinDoc, let me pile on to White Coat Investor's advice with two more posts: Don't buy a home while you're on active duty: https://the-military-guide.com/dont-buy-home-active-duty/ And don't even buy a home when you leave active duty: https://the-military-...
by Nords
Sun Feb 25, 2018 2:22 am
Forum: Personal Finance (Not Investing)
Topic: Military FIRE; 7 years to go & losing motivation--HELP!
Replies: 36
Views: 4102

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

The problem is that I've recently been struggling with the lifestyle that being in the military entails. We are about to PCS to my sixth duty station with a 15 month old and will likely have to uproot our lives at least twice more before my retirement. Does anyone else on the path, or who has alrea...
by Nords
Sun Feb 18, 2018 7:45 pm
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5615

Re: Opted into the new military retirement system/BRS

I opted into BRS the second week in January and didn't get matched contributions on my January LES. I split 50:50 with Roth and Traditional. I was wondering how this was even going to work for January since matching starts "the first pay period after (you) opt into BRS." Since earliest opt-in date ...
by Nords
Sat Feb 17, 2018 9:43 am
Forum: Personal Consumer Issues
Topic: USAA 41% More For Car Insurance
Replies: 43
Views: 3457

Re: USAA 41% More For Car Insurance

I've had car insurance with Auto Owners for many years. Last year their rates went up 26% and this year they're up 21%. I decided to get a quote from USAA and was shocked to see that their quote was 41% more than Auto Owners was quoting. I didn't seek any other quotes after that. Is there much of a...
by Nords
Mon Jan 29, 2018 2:56 pm
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5615

Re: Opted into the new military retirement system/BRS

Maverick3320 wrote:
Mon Jan 29, 2018 1:36 pm
You almost need a spreadsheet with all the different scenarios on it to truly make a comparison.
... and this Google Sheet might help get people started:
https://the-military-guide.com/military ... readsheet/
by Nords
Sun Jan 28, 2018 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5615

Re: Opted into the new military retirement system/BRS

Sorry, let me get to the point. Are you saying if someone has a chance of not staying in for 20 they should do BRS, and if somehow they know they will be in for 20 or more they should stay with high three? Yes. If you know you are staying in, the traditional pension will almost always come out on t...
by Nords
Sun Jan 28, 2018 1:25 am
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5615

Re: Opted into the new military retirement system/BRS

Do you think someone starting at say age 18, putting 20 years in for Guard/Reserve, then retiring so to speak at 38, would be affected differently by collecting at 60 as opposed to active duty collecting at 38? I would like to see some calculations bases on real scenarios to compare the monetary ou...
by Nords
Sat Jan 27, 2018 9:42 pm
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5615

Re: Opted into the new military retirement system/BRS

raisinsaregrapes wrote:
Sat Jan 27, 2018 8:35 pm
Active Duty AF here. I opt'd in at 6am on 1 Jan. A friend I am currently deployed with opt'd in on 2 Jan and he did not have a matching contribution. He is AD Army.

Image
Thanks, Raisins, that's the first LES I've seen with a matching contribution on it.
by Nords
Sat Jan 27, 2018 3:20 pm
Forum: Investing - Help with Personal Investments
Topic: Military TSP Question
Replies: 9
Views: 1176

Re: Military TSP Question

RamblinDoc, all of the advice you've received in this post is correct, of course, and I've also confirmed the TSP contribution-limit experience with over a dozen readers. Keep in mind that if you deploy to a combat zone then your TSP contribution limit rises to the annual addition limit ($55K in 201...
by Nords
Sat Jan 27, 2018 3:14 pm
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5615

Re: Opted into the new military retirement system/BRS

I am Guard and very skeptical of BRS. I think if you are going to be in less than 20, you should do BRS, if 20 or greater you should do legacy high three. Guard, and possibly Reserve, don't receive retirement until around 57 to 62 I believe, so that is another factor. Active duty gets retirement da...