To sum up, I'm 35 years old. TSgt AGR military status with about 10.5 years left till that retirement. Have money in the TSP (about $55K in C/S funds and put about $370 a month) with the old system, not blended. Kids college are squared away with the GI Bill and Hazelwood Act. Only have mortgage and car debt.
Wife works; however, her income doesn't come into play because she supports her family back home overseas, but we are both able to put $100 in our kids account until they turn 18. Have about $8K in savings. Planning to create a emergency fund next year with the tax return. I'm able to put away $500 – $800 every month in the savings.
A part of me wants to put a whole lot more into the thrift and then take it out at 45 hoping that even with the penalty it would allow us to pay off the house. Yeah, I know it's TABOO to take out before 59.5, but if it's money I couldn't touch until I'm 60 vs money I can take out at 45 and pay off the house and save $2,000 a month…..would that be worth it
Posted by IFoughtRocky