Personal Financial Plan

[Beccazan]

Hello! First, I would like to say thanks for this message board. I learn so much from other posters and the responders.

I am active duty military (18 years and going!) and plan to stay in until 2010. I have maxed out TSP since it was offered (C, S, and I funds). I also opened and fully funded a Roth IRA this year (VASGX thru USAA). By the end of 2004, I'll have $13,000 in ING.

I would like opinions/comments on my future plans: 2005 ($1500/mo into ING, max TSP contributions and $4000 into IRA); 2006-1010 ($500/mo into ING, max TSP contributions, $4000 into IRA, open balanced fund (vasgx directly with vanguard) and contribute $8000/yr)

Once I retire from military, plan to rollover TSP into traditional IRA (vgsix) and continue adding $500/mo into ING and maxing Roth contributions until 2033 (age 65).

ING fund will be for emergencies, down payment, travel, etc.

How does it look?

[Mike]

Better than 90%+ of the population. :^

I don't see anything wrong with it. I'm sure some others will offer some feedback on fund choices, though.

[tsptalk]

Welcome Beccazan!! Looks good to me but I'll leave it up to our retirement experts here.

Thanks for joining us!
Tom

[Rolo]

Awesome, Beccazan, and welcome!

It's good to be serious about retirement enough to make a plan and check it. Indeed, better than 90%+ of the population.

For commentary about Vanguard funds in the Rolo and Az Show, see this thread:

http://www.tsptalk.com/mb/view_topic.php?id=260&forum_id=19&highlight=VASGX

Which ING funds do you hold? LETRX would be a sweet addition.

How has your portfolio been performing?

[Beccazan]

Thanks for the positive feedback! It is definitely reassuring to have objective opinions from time to time.

My ING is just a savings account (holding money for emergency fund, house down payment, etc.)

I don't check on my TSP or IRA accounts a lot, but have made a couple hundred this year on the IRA and not sure what gains TSP has made (I started maxing out contributions a few years ago).

Thanks again for the replies!

[Rolo]

Beccazan wrote:
My ING is just a savings account (holding money for emergency fund, house down payment, etc.)


I had an ING savings account. I couldn't keep that much money in it, only making money market rates (a good MMA, mind you).

For that much money, instead, consider a brokerage account, where you can invest inconservative mutual funds and dividend stocksfor a better return. I have a checkbook and debit card with my Scottrade account, and I can do electronic checks as well. I could not do the latter two with ING.


If you buy and hold and do not sell your appreciated securities, you won't pay taxes on your unrealised gains, like you do withinterest.

If you hold your securities for at least a year, you will pay the much cheaper capital gains tax rate on realised gains and dividend payouts.

[pyriel]

Beccazan wrote:
Hello! First, I would like to say thanks for this message board. I learn so much from other posters (http://0-29.com/?go=posters)and the responders.

I am active duty military (18 years and going!) and plan to stay in until 2010. I have maxed out TSP since it was offered (C, S, and I funds). I also opened and fully funded a Roth IRA this year (VASGX thru USAA). By the end of 2004, I'll have $13,000 in ING.

I would like opinions/comments on my future plans: 2005 ($1500/mo into ING, max TSP contributions and $4000 into IRA); 2006-1010 ($500/mo into ING, max TSP contributions, $4000 into IRA, open balanced fund (vasgx directly with vanguard) and contribute $8000/yr)

Once I retire from military, plan to rollover TSP into traditional IRA (vgsix) and continue adding $500/mo into ING and maxing Roth contributions until 2033 (age 65).

ING fund will be for emergencies, down payment, travel (http://get-certified.net/?go=travel), etc.

How does it look?
OKI, OKI, OKI... Guys, what is ING? :% Additionally, please don't forget that IRA goes up to $5K on 2008. Additionally, wirh ROTH IRA you can contribute to it until the day you die :end:as long as you are earning income. Max TSP contribution for 2006 is about $15K (Is this about right TOM?). I don't know how old you are but once you turn 50 yrs old:', you may add more to TSP or IRA which is calledcatch up contribution. Hope you have some money left after contributing to all of these tax (http://0-days.net/?go=tax) deferred funds.:l
By the way, I wonder how many of us are ready to max out on all of these. Can I see a raise of hands please...:oo

[tsptalk]

pyriel wrote:
Max TSP contribution for 2006 is about $15K (Is this about right TOM?).
Yup!

[Rolo]

ING is just a MMA. www.ingdirect.com (http://www.ingdirect.com) I had one, but don't care for it, too much a PITA and NetBank's yields were better.

[line]

Quote:


By the way, I wonder how many of us are ready to max out on all of these. Can I see a raise of hands please...:oo

:^

$15K into TSP and not pay income tax on it...heck yeah!

Good question, though, seriously. I was just making 2005's financial schedule and wondered about 2006's max.

We'll still put $8K into our Roths and still have the fancy mutual funds to play around.

My Scottrade probably won't get much in contributions, but I'll have plenty of momentum with it by 2006 to where contributions won't matter much.

Some delayed gratification (for hedonistic excess later, hehe) is worth it. Some, 'cos next year, g/f is getting her PT Cruiser, hehe.

Good Morning All:



Would like to know if there areother Cash Management Funds besides American Express

[TheProphet]

Plus $5K cash up contributions....