Howdy!
Currently an E-4 with less than 3yrs TIS and is open for suggestion on to make my financial situation to get better. Contributing 10% to TSP with 80% C and 20% S.
Outstanding debt:
Auto loan: 14k (6% int)
Credit debt: 0
Current Savings:
20K-CAP1 savings (4.6% int)
10500-MARCUS CD-6mos (4.9%)
3k- NFCU checking account
Spends roughly 300-500 a month. Saves 3k/mo. Rent free (ship's schedule is so busy since last year) so I am saving my whole bah.
I would like to start investing in brokerage but has no idea yet. i would like to hear more and try to see what else I can do to make my finances better!
Posted by Capable-Team-3395
2 Comments
What rate is your auto loan?
For investing, are you doing TSP at all?
For brokerage and a Roth IRA, an account with Vanguard, Fidelity, or Schwab and invest in broad based index funds like “total stock market index,” S&P 500 Index,” or “total US stock market index.” They all offer some version of these funds at low -or no – cost to you.
What are your financial goals? That will help determine what kind of account and investments would be appropriate.
If you’re looking to save more for retirement, the easy button is just to increase your contribution to the TSP.