Hello! I reenlisted this year and received an SRB of $24,000. My husband and I have no idea what the financially smart way would be to deal with this chunk of money.

    For a better idea of our finances atm:

    Joint HYSA $15,500

    Joint investment (VOO, QQQM) $19,200

    My Roth IRA (VTSAX) $10,700

    My TSP $55,500

    His Roth IRA (VTSAX) $3,500

    His TSP $85,000

    House $530,000~ (bought last year thru VA assumption, won't be PCSing for the next 3yrs)

    2014 Honda Civic (paid off) $8-9,000

    Motorcycle $5,000

    The only debt we have is our mortgage, $465,000 at 2.4%

    Here are some options we thought of:

    1. Don't even think about the money and max out Roth IRA for both accounts and invest the rest in VOO/QQQM
    2. Since we need a bigger car, replace Civic with used 2022 VW Tiguan ($23,000~)
    3. Get some work done around the house (garage door not 100% sealed, landscaping needed, DIY projects) and put the rest in investments

    Any advice would be greatly appreciated!!

    Reenlistment bonus hit, now what?
    byu/jinwenzhou inMilitaryFinance



    Posted by jinwenzhou

    2 Comments

    1. AggravatingNotice917 on

      You can still buy a reliable used SUV for under $15,000, just have to do the leg work. Put the rest into home improvement or investments. How long have you been in, if you don’t mind me asking?

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