Someone lead me in the right direction. |
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Omen_Orthodox
New Member
Cash: $ 0.70
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Joined: 02 Apr 2006
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Someone lead me in the right direction. |
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Hello Folks,
I'm enlisted in the Navy. I have 3 years left of service and I plan to save a lot of dough for college, real estate, and retirement. My plan is to save around $10k a year for the next 3 years giving me $30k when I get out of the service. When I get out, I plan to go to school full-time with my G.I. Bill. I'll either attend a college full-time and not work or I might work full-time as a Fire Fighter and take full-time online college courses. If I work and take online courses, I can probably save another $20k a year for the next 3-4 years. By the time I get done with school, I plan to buy a house.
Heres a savings plan -
$30k saved from Navy + $0 saved x 4 years of college
OR
$30k saved from Navy + $20k x 3-4 years of Firefighting/Online College.
So, thats the savings plan. I'm just trying to figure out how I just invest my money. I could use my savings as a huge downpayment on a home or I can get a retirement account rolling pretty strong or I can kind of go both ways. The thing is, I'll be deploying a lot in the next 3 years (up to 6 months or possibly 9 months), so I won't have much access to the internet, stocks, IRAs, TSP, etc. The safiest way surest way would be to invest my money into CDs/Bonds at around 4.5-5%. But I really don't know what to do. I really don't know much about stocks, retirement accounts, investing, etc. If you was me, what would you invest your money in? I need some good advice. Thanks!
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Sun Apr 02, 2006 9:37 pm |
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INOT
First Time Poster
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Joined: 02 Apr 2006
Location: kentucky |
someone to lead in the right direction |
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I would take about $2500 and get into GIT International. Check out their website. I'm also enlisted in the army, getting my residual monthly income from them. I've also investing some more money into GIT so I can at least make a second income once I get out.
http://www.gitrocks.com/100414
joe
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Mon Apr 03, 2006 12:01 am |
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Omen_Orthodox
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So, you think it would make more sense to save money through CDs/MoneyMarketFunds/Bonds for a big downpayment on a home 6-7 years from now. I would imagine investing a certain percent of savings into a retirement account wouldn't hurt either. How much would you invest in TSP or an IRA?
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Mon Apr 03, 2006 12:23 am |
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conservative
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Open up a on line savings account, they give the best rates. Bankrate.com has a savings account paying a 4.8 percent right now. You can add to it by using your personal savings account and take money out when ever you want with out penaltys. Safest plan out there. No risks. Good luck. I like your plan!
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Mon Apr 03, 2006 3:51 pm |
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Rolo
Yo' Daddy

Cash: $ 309.70
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Re: Someone lead me in the right direction. |
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quote: Originally posted by Omen_Orthodox I'll be deploying a lot
Savings Deposit Plan (SDP): Put up to $10K while deployed, earn 10% interest, no risk, up to 90 days after deployment. A very good tool in your investment arsenal, particularly with such a short time-horizon.
http://www.defenselink.mil/news/Dec2001/n12112001_200112112.html
Do invest with TSP--you get an income tax break for doing it and you do need to fund for retirement.
"Expect me when you see me."
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Wed Apr 05, 2006 3:19 am |
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