Air Force New TDY Resident

[Sweetpotatoguy]

I just started orientation at Travis for transitional and I'm getting myself settled. I am trying to be proactive in setting up my retirement. As far as investing goes, I have heard about the TSP:

-Is it worth it?
-Should I invest in TSP and other things like 401k, IRA, rothIRA

I'm HPSP and currently I have no plans in making the military a career (this may change based upon my future experience as a GMO).

I have referred to the following link in regards to life after military:
http://forums.studentdoctor.net/threads/civilian-residency-after-gmo-advice.1184641/

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[Red Lobster Actual]

Should I invest in TSP and other things like 401k, IRA, rothIRA

TSP = 401(k) for the military

IRA = Do on your own

Search this forum more about "retirement" "TSP" and other key words. This has been discussed pretty well by others on this forum.

And yes, you should use it.

 

[Shikima]

Just stick with TSP for now. It's good enough. Stay away from the G Fund and put 25% in the other 4 funds while your AD. Once you get out, you'll need a financial advisor due to the income shooting up.

 

[WernickeDO]

OP, immediately go to Amazon and buy the White Coat Investor's book. It's chock full of good information and financial education, and it's only 10 bucks. It will answer many of your questions and give you a good place to start for becoming financially secure, and no Dr Dahle is not paying me to say this.

 

[pgg]

Yes, you should save money. Your question re: TSP vs 401k suggests you're not real familiar with either (which is OK, everyone starts somewhere), so I'd begin with the basics:

https://www.bogleheads.org/wiki/Getting_started

The White Coat Investor web site and book are also good.

Read at least the first few chapters of Ferri's book, All About Asset Allocation. This is IMO the second-most important thing you should do. You can't make good investment decisions without understanding the most basic things about asset classes and how they affect risk and return.

The first-most important thing you should do is spend less than you earn, and you don't need to know anything about investing or taxes or stocks or bonds or 401(k)s or TSP to start doing that.


There are a lot of people out there who want to take your money in the form of fees and commissions in return for advice that serves them better than it serves you. You absolutely can do it yourself.