I have a great retirement plan in place.
I get half pay retirement at 20 years. 1/60 for each year I stay after 20 topping at 32 years and about 70%.
Healthcare paid upon retiring. I'm eligible and will have 20 years at age 45 or in 9 more years.
I also have deferred comp right now where 11% of my paycheck comes out pre-taxed. I can collect that at like 54ish.
I also have a Roth IRA in place right now as well that will be ready at age 59.
Gotta set yourself up man. Think and plan ahead!!
Primarily 401k for now. I also did a Roth IRA and maxed it with tax return money for several years but don't do anything with Roth's now.
Now I'm still contributing to the 401k, but also saving $$$ with a plan to buy property as an investment (and hunting) in the next 12-18 months. I'd like to get myself into something that is somewhat liquid and accessible before retirement age and I believe property is my best option.
Last edited by Rick James; 02-08-2017 at 05:54 PM.
Real Estate, Mutual Funds, Stocks & Savings
Last couple months have bought GM stock & place for Waterfowl Hunting.
Pretty much will be taking a ****ing next year. Oldest daughter graduates high school and got into pharmacy programs at Purdue & Butler; either choice sucks for me.
Hoyt Rampage XT
Moultrie Trail Cameras:
M-990-I - Gen2
M-880-C (White Flash)
D-55 (2) (White Flash)
Real Estate, Ira 401K. If I were to do it over again I would have bought a duplex at 5% down lived in for 3 years take the equity and other savings and buy another live in that for a couple of years and do it again until you mass enough rental income to live off of but don't quit your job and bank and invest all that money until you retire.
AND FU ABOUT THE OLD GUY COMMENT
At least get the company's 401K match. I would max a Roth IRA before putting extra in 401-k. The main thing I found is keeping all other miscellaneous debt to a minimum. Keep credit cards under control and don't live beyond your means. I also try to keep a well padded savings for emergencies. Having at least 3mo of bills in savings is a good amount, 6 mo. to a year is ideal. After I got all of that down I started realizing I could contribute more into a diversified portfolio. Never hurts to have a little bit in commodities such as precious metals. Rental properties will be acquired thanks to my father. Don't put all your eggs in one basket!
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Last edited by Shocker99; 02-08-2017 at 06:37 PM.
2015 Elite Energy 32 60# @ 28.5"
Truglo Rival Hunter 3 pin sight, QAD Ultrarest, Trophy Ridge 5 spot quiver, B Stinger Sport Hunter 6" stabilizer
Trufire Hardcore Max release, Easton Bloodline 400, Slicktrick Magnum 100gr.
For now I just put in the Roth 401k 4% that my company matches. Idiotic to turn down free money. Outside of that, for now I'm chunking away debt (student loans) to free up monthly disposable income. I hope to purchase my first rental property in the next 18 months as well. I would dive into investments sooner, I just know if I leave my current job or have to move to another state I will take a substantial paycut, and I couldn't maintain my current lifestyle with the amount of monthly debt I have. If I can stay focused for next 3-5 years, I'll be set.
Last edited by TEmbry; 02-08-2017 at 11:16 PM.
Our court system puts the fate of those who stand trial in the hands of twelve people not even smart enough to get out of jury duty...
I put 12% in my TSA and 8% in my wife's 401k with 3% matching on top along with an annual bonus contribution from her company. We rolled her old 401k into an IRA as well. We don't qualify for a Roth unfortunately. I also have good pension.
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This is the stuff they need to teach in college, stuff that will help you plan and succeed in life. I know the basic ins and outs of investing but not near as much as one should.
The Lord is my hunting partner.
2017 - 9
2016 - 40
2015 - 24
- Jack O.
One more thing a prenump can save you half of your retirement money
Everyone has an opinion but if I don't agree with it you're a racist! Liberal Logic 101
Poster of the 1,000,000TH post