Search found 185 matches

by Nords
Tue Aug 14, 2018 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Career Transition after Military
Replies: 13
Views: 1125

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: 1553

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: 1553

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: 8
Views: 1105

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: 4965

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: 13332

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: 8
Views: 1105

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: 1323

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: 8
Views: 1105

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: 3592

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: 476

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: 2447

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: 476

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: 2961

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: 710

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: 2961

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: 914

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: 3892

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: 3892

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: 3892

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: 692

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: 1482

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: 3525

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: 3525

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: 3748

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: 5267

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: 3154

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: 5267

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: 5267

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: 5267

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: 5267

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: 1090

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: 5267

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...
by Nords
Sat Jan 27, 2018 3:02 pm
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5267

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 Nords
Sat Jan 27, 2018 2:50 pm
Forum: Investing - Help with Personal Investments
Topic: Military Retirement BRS vs. Legacy
Replies: 7
Views: 783

Re: Military Retirement BRS vs. Legacy

There's no guarantee that I can stay in the military for 20 years, and in that case, I would have received nothing under Legacy. The continuation pay, as mentioned, may be more than $20,000, and if invested, would add a large cushion to my own retirement savings. These are the top two reasons to se...
by Nords
Sat Jan 27, 2018 2:40 pm
Forum: Local Chapters and Bogleheads Community
Topic: this is why I value this Forum
Replies: 3
Views: 1521

Re: this is why I value this Forum

https://www.bogleheads.org/forum/viewtopic.php?f=1&t=238161&p=3729290#p3729290 See the post by Nords re military on disability retiring to Hawaii. It's just full of direct and seemingly sensible advice, pointed right at the OP's concerns, and anchored in personal experience. Thanks. After 15+ years...
by Nords
Fri Jan 26, 2018 1:48 pm
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5267

Re: Opted into the new military retirement system/BRS

January LES is out and mine doesn't show any matching funds, does anyone else have an indication that their opt in worked? Typically, a change in January to TSP contributions would only be effective in February, so was I overly hopeful that the DOD wouldn't let system limitations deprive us of the ...
by Nords
Sun Jan 21, 2018 1:15 am
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5267

Re: Opted into the new military retirement system/BRS

I have just less than 10 years in with an ADSO that puts me at 18. Doctors like you (with active-duty obligations like that) are about the only servicemembers who could stick with High Three. You'd probably make more money from the BRS, but we all know that doctors have no reason to ever stop worki...
by Nords
Fri Jan 19, 2018 12:23 am
Forum: Personal Finance (Not Investing)
Topic: Can We Retire in Hawaii? Please Critique
Replies: 146
Views: 15554

Re: Can We Retire in Hawaii? Please Critique

Good grief, folks, after reading the first dozen responses to this thread I wondered whether this is the Bogleheads forum or Mr. Money Mustache? Why so much negativity? Where’s the support on figuring out how to make it work? With a poster name like SurferLife, the question is not “if” or “when” the...
by Nords
Wed Jan 03, 2018 2:10 pm
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5267

Re: Opted into the new military retirement system/BRS

Thanks Nords for the wealth of information! To sum this all up- I plan on contributing a percentage of my base pay to my Roth TSP that will be equal to or slightly greater than 1542 per month (=18,500/12). My monthly percentage will be above the 5% threshold to receive max DoD BRS contributions. Si...
by Nords
Wed Jan 03, 2018 2:29 am
Forum: Investing - Help with Personal Investments
Topic: Opted into the new military retirement system/BRS
Replies: 57
Views: 5267

Re: Opted into the new military retirement system/BRS

I am under the impression that Roth TSP contributions are limited at 18.5k per year regardless of the 55k annual additional limit. If this is true, what will happen with my personal and DoD contributions? Will they stop prematurely summer or fall 2018 due to reaching the 18.5k Roth limit precluding...
by Nords
Sat Dec 23, 2017 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: Military Deployment Help—TSP Optimization
Replies: 17
Views: 1860

Re: Military Deployment Help—TSP Optimization

I’m an O-5 (Lt Col) in the military, and I’ll be deploying next year for 6 months from April to October to a tax exempt location. I’m trying to figure out the best way for me to maximize my TSP contribution (up to $55k) while minimizing taxes. I know the ROTH TSP is optimal while deployed because i...
by Nords
Sat Dec 23, 2017 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance Conundrum
Replies: 2
Views: 360

Re: Disability Insurance Conundrum

9Liner, do you still need the policy? For example if it's for medical care then the AGR has you covered with Tricare and you wouldn't need the disability insurance. You could choose your option 1 now. What's the policy's fine print about "serving on active duty"? If you bought the policy to cover ot...
by Nords
Sat Dec 23, 2017 2:14 pm
Forum: Investing - Help with Personal Investments
Topic: Naval Officer looking ahead to retirement
Replies: 10
Views: 1273

Re: Naval Officer looking ahead to retirement

Welcome, FSW! My questions: - My Roth is actively managed and I think I am getting killed on fees (Over $1100 last year). Does it make sense to rollover to a self-directed Roth with Scottrade and just invest in a simplified Vanguard style account to save on fees (Some kind of target date ETF)? Any s...
by Nords
Sun Dec 17, 2017 10:34 pm
Forum: Investing - Help with Personal Investments
Topic: Maxing out my TSP while deployed
Replies: 7
Views: 1287

Re: Maxing out my TSP while deployed

Nords has numerous posts helping service members maximize saving in the combat zone. As I remember, maximize Roth prior to deployment careful not to contribute the last dollar of $18K because the DFAS computer may not allow further tax exempt contributions in the combat zone if annual contribution ...
by Nords
Thu Dec 14, 2017 8:07 am
Forum: Personal Finance (Not Investing)
Topic: New Military Blended Retirement System starting in 2018
Replies: 40
Views: 7796

Re: New Military Blended Retirement System starting in 2018

sergeant wrote:
Wed Dec 13, 2017 12:50 am
Nords, thanks for the information. My son is an Army officer deployed to South Korea. He has used your site to help his platoon members make the right decision on this topic.
You're welcome-- glad to help!
by Nords
Tue Dec 12, 2017 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: New Military Blended Retirement System starting in 2018
Replies: 40
Views: 7796

Re: New Military Blended Retirement System starting in 2018

As the final hour approaches I wanted to open this thread back up to updates from anyone. I too have realized that even though I plan to stay for 20 years, the right decision is to switch to the BRS. Thank you to everyone on here for the input. Nords, your most recent post on "Tricky Details" is a ...
by Nords
Tue Nov 28, 2017 12:03 pm
Forum: Personal Consumer Issues
Topic: USAA 2.5% Cash Back Credit Card
Replies: 278
Views: 52453

Re: USAA 2.5% Cash Back Credit Card

USAA does not subsidize its products, and even card rewards programs have to be at least revenue-neutral. It looks like this card costs more than it earns, but we already suspected that. If USAA can't figure out a way to make it stand on its own then they'll shut it down. So then the jury is still ...
by Nords
Tue Nov 28, 2017 11:29 am
Forum: Personal Consumer Issues
Topic: USAA 2.5% Cash Back Credit Card
Replies: 278
Views: 52453

Re: USAA 2.5% Cash Back Credit Card

I've attended USAA's blogger conferences for several years, and I asked them for an update on the pilot. Their Communications team forwarded the response to me: "The USAA Limitless Credit Card was rolled out throughout the year as a pilot in a number of states. As a part of our test and learn approa...
by Nords
Wed Nov 01, 2017 12:18 pm
Forum: Investing - Help with Personal Investments
Topic: New to the world of investing.
Replies: 7
Views: 936

Re: New to the world of investing.

I am in the military and I have been told this a fantastic forum to get advice from. I am reading and learning as much as I can before investing my money but i could use some more help. Thank you. While you're reading and learning, take the first step of investing now. If you're not already doing s...