Hey there!
Recently started AIT (straight out of basic) and I had some questions about finances, as I want to maximize my retirement and long term growth.
Currently, I don’t have any debt or even a credit card. I’m an E-3 and in AIT, so no real bills yet.
I’m thinking about contributing 5% to Roth TSP and I’ll probably do a 80% C Fund/10% S Fund/10% I fund unless someone has a better split. From there, I’m thinking about putting as much as I can into a Roth IRA and maxing that and then whatever I have left I’ll put into TSP. I may also up my contributions to TSP to 10% or 15%. Just need advice on the direction I should go.
I’m fresh to AIT, so I don’t exactly know what I’ll be spending each month, but as of right now I have about $13k saved up, no bills, no debt.
I was also thinking about getting a credit card to start to build up my credit. Not sure what a good starter credit card is though. Someone mentioned the Star Card to me before, but I’m all for suggestions on a good starter credit card since I know my interest/rewards won’t be very good.
Also, I wanted to get advice on USAA/Navy Fed. I’ve heard they’re good banks and right now I still bank with a local credit union. Is it worth swapping to USAA/Navy Fed or should I get my first credit card with one of them instead of the Star Card?
Lastly, what HYSA would you recommend? As I’ve stated I have $13k in savings, but it’s not in a HYSA, which I would assume it probably should be. Just would appreciate recommendations on what you would do.
Sorry if I’m asking for a lot. Pretty new to financial stuff since I’m young and fresh out of basic, but any help at all would be greatly appreciated.
Posted by Asylum36