A reader asks: "When does it make sense to make tax-exempt TSP contributions (contributions while in a combat zone)? I already max out my Roth IRA ($5,000) and hit my traditional & Roth TSP contribution limit ($17,000), but I can also contribute an additional $33,000 of tax-exempt combat pay to the TSP. Essentially, I am … [Read more...] about Combat Zone Contributions to the Thrift Savings Plan
Archives for 2012
An Early-Retirement.org reader asks: I'm researching how much cash to set aside (likely in a money market and CDs) to weather any market downturns. I've seen everything from six years to two years. I'm considering 3-4 years for enough to weather almost any large downturn but also to not keep too much of my portfolio in cash. I … [Read more...] about How much cash in a retirement portfolio?
[August 2015 update: The Defense Finance and Accounting Service has started issuing letters to Reserve retirees who have claimed credit for ROTC summer training. According to the comments on this post and some Facebook posts, it appears that DFAS is re-calculating pensions for revisions of as few as 90 points. More information is at the Naval … [Read more...] about Navy Reserve Retirement Credit for ROTC Summer Training
Along with FINCON12 I've visited my Dad and worked on his finances. I'll talk about how he's doing now and then I'll review the latest financial lessons. Alzheimer's is relentless. Dad's mid-stage symptoms are worse and his brain is losing control of his emotions. He has trouble remembering faces and aphasia is setting in. For the last 18 … [Read more...] about Geriatric Financial Management Update
Last week's post covered the basic insurance issues when you're just starting out. You'll insure your personal property and your vehicle for the financial catastrophes that you can't cover on your own, and you'll control the costs by using high deductibles. Insurance expenses make it even riskier to own a home while you're on active duty, so try to … [Read more...] about More Lessons Learned on Insurance (part 2 of 2)
I'd like to credit Mike over at Live The New Economy with inspiring me to write today's post. When you're done here, go visit his site and check his progress on achieving his goals. I may be an older dog, but he re-taught me an old trick. One of the perpetual debates on forums like Early-Retirement.org or MrMoneyMustache.com is the dividing … [Read more...] about Frugality After Financial Independence – Saving Money on Shaving, and Other Thoughts
After Jeff Rose's life insurance awareness movement, a reader asked: "Nords, what insurance do you carry?" Hunh. I've never thought of myself as an insurance role model, unless you're part of a dual-military retiree couple with just one kid. Technology has certainly brought down the price of the insurance decision, so in some situations it's more … [Read more...] about Lessons Learned on Insurance
This guest post is brought to you by Eddie Wills. For those of us who have had to put together War Plans/OPLANs on a military staff, we all know the importance of an Exit Strategy. The late great author Dr. Steven R Covey, author of “The Seven Habits of Highly Effective People” knew this as well. His first (and likely most … [Read more...] about Guest post Wednesday: The importance of your retirement account Exit Strategy.
(Sorry about that cheesy title. As a writer, I couldn't resist the double entendre. As a blogger, I couldn't resist the SEO. I assure you that the spammers will punish me for my transgressions...) Hey, it's Labor Day, and you're probably not going to read this post until you're back at work the next day... or at least until you're finished with … [Read more...] about Lifestyles in Hawaii: “Naked on the beach”
A reader writes: I've read many of your posts and links about military retirement in Hawaii. It's not something we had considered previously, but it sounds pretty good. Apart from the high cost of real estate, what are the pitfalls? We are a pretty frugal couple, so I don't think the excise tax would be too bad for us. My spouse is retiring from … [Read more...] about Good reasons NOT to live in Hawaii