I’m in the AF so I don’t pay much of anything. Our pay kinda sucks but the benefits are pretty competitive, in fact, after some number crunching I should be able to pocket around 15K-20K just living regularly next year. You stay rent/utilities free for about 2 years, so that’s close to 40K damn. I have already set aside some $$$ for expenses just in case bullshit happens (car breakdown, IRS, etc). I owed the IRS $2000 this year because I claimed school credits that I wasn’t taxed on (from 2014) or some shit. Tried to fight it, but to no avail. That’s paid off though. (Knocked it down to about 1200, then lum sum).
Anyway, I still got this entire year left to save. Single again, no kids, man about to save this muthafucking $$$$ like nobody has ever seen before. Now is a great time to do it lol. I want to invest in something and somebody told me Etrade is decent, but I dunno I’d like a second opinion on that. I’m all about the money man fuck these hoes, whenever I look at my account, I don’t get mad/sad anymore. I got students loans from another college but it’s only 1K, man I remember when having $1000 actually meant something. I could easily pay it off, but I’m lazy and sticking with the plan for now.
I know some of yall got ridiculous salaries holy shit, that’s where I need to be!
Hey I’m thinking of voluntarily repossessing my car. The car note is just too much and this payment is for 5 years. I already returned a previous car to get the current one thinking I’d have cheaper payments after refinancing come November
But judging by how shit my credit score has become. I doubt I’d get any reduced payments. Would I just be better off returning the car and paying off what’s ide for the two repossessions? It would save me an extra 433 a month and I have 4k for a used car to buy off soneone.
Man, the thing I want for you to do is while you’re in, learn how to invest and where and when. If you start putting in around $200-1200 a month while you have no real bills to worry about, you’ll be making quite a chunk of change when you get out, assuming you’re not a year away from leaving already. If I had done that when I was in, I’d be far better off than I am. Learn what “Compound interest” is.
…Nope. Not even gonna wait. here’s the vid.
The most important factor is time. Start as soon as you possibly can without risking going into debt, which is fairly hard to do since you’re in the military and can take advantage of living on base as well as the much cheaper prices for similar items. Do it. you’ll thank me if you do.
Ohhh man I hear you–that’s what I need right there, and I need shit that’s gonna stack like that for even more money.
I pretty much already know I’m not going for the retirement, so I should probably switch over my retirement plan to the new TSP. I signed a 4 year contract and I’m just beginning my term, so I have a lot time to prepare everything and set things up for when I get out. Right now I have most of my money on a USAA account, but I’ll probably be switching them out for something that has ridiculous interest stacking. There’s tons of things I can do for the rest of the year and get a good head start on things, that’s why I’m excited about this.
With time, as you said, I can be making some serious $$$$. I’ll eventually promote and finish paying off my GI Bill (for GIB I have about 5 months left), so that’s more money I can save and just stack on. Some people get married for that pay raise, but man I’m staying single fuck that all the money is for me :lol:
I’m gonna need to write my fast college paper. My subject is analysis of commercial market of a country of my choosing. Which country would be faster guys?
I decided to open a secret bank account. Right now i have $2,500 initial deposit. My plan is the contribute $3k every month into cds which yields 1.75%. So with compound interest, this is what it will look like.
Year 1 = $39,173.75
Year 2 = $76,489.29
Year 3 = $114,457.85
Year 4 = $153,090.87
Year 5 = $192,399.96
Year 6 = $232,396.96
Year 7 = $273,093.90
So if i did this 7years i would have earned $21,000? Does that sound right?
Depends on how often it compounds. Doing a 1 year CD that pays out at the end I got ~13.5k. It will also depend how you treat the end of the year though; do you not re-invest in anything that wouldn’t mature by the end of the 7 years or do you go ahead and re-invest although that means the money will be locked up?
Also, just looking quickly it appears you need to do a 2-year CD to get a 1.75% rate, so that means money wouldn’t be available as soon and the compounding will be less.
Still better than stuffing it in a bank account that might yield 0.5%.
I hate to be that cynical poster but have you factored in inflation rate in your math? Current US inflation rate: 1.6% and projected to be 2.0% next year(assuming no major Trump-based shenanigans,econ melt down etc).
Anyone using micro-investment apps? I’ve got accounts with Acorns and Stash. Not sure which app is superior but I think it might be a good idea to invest with multiple apps…
Acorns Stats
[list]
[] Total Invested: $511
[] Total Dividends: $5.71
[] Net Gain: $15.55 (3.04%)
[] Total Fees: $11
[/list]
Stash Stats
[list]
[] Portfolio Value: $95
[] Total Return: $2.55 (2.74%)
[*] Total Fees: $2
[/list]
Better than keeping money in the bank right?
EDIT: I’ve had the Acorns account for about a year. I just opened the Stash account a few months ago.
If you are trying to keep this account hidden from your asian wife you might want to use a foreign account that won’t let the US touch your money, Bitcoin, or launder the money into the account instead of paying it directly. In the event of a divorce the courts would be able to follow the money trail even if your asian wife doesn’t know it exists.
So I’m trying to talk my friend out of joining the military, but I guess he see’s how well I have been able to turn my fortunes around and won’t listen. I wouldn’t advise doing this at all if you are just trying to net bank, there are plenty of other jobs in the civilian sector for that. Sometimes you gotta set pride aside and flip burgers for a while, or work retail. He’s close to being homeless so the pressure is on to find something quick, and time is not on his side. Smart kid, but made his fair share of bad decisions.
One big milestone for me is to make 10K in savings/investments by the end of the year. That’s pretty iffy, but not impossible.
Man I hate to hear that. I would tell him to apply for retail overnight positions or warehouse jobs that are looking for people during the evening or overnight. Tell me him to apply for shit that people do not want to do; specifically, the shitty hours people are trying not to work.
You sign all your rights away as an individual, and the job is 24/7. Everybody is trying to look good for promotion, and your first base could suck. You could be stuck in some place you don’t want to be for the next 4 or 6 years.
If he joins, he should go Army. They at least promote faster.