hello, Active Army

[8_percent]

Hello, everyone! I been lurking around for about a month now and want say thanks to all who contribute this wealth of financial information and knowledge.

Ultimate goal at retirement is to be in position to purchase my home cash ($150k - 175k). I'm married w/2 kids, 32 yrs old, and have 9 years until retirement. Finally, we no longer have debt and established an emergency savings. So, for the next 9 years I plan to contribute the maximum to TSP (40-C, 20-S, and 40-I). The remaining take home pay is going into money market fund w/USAA. When I leave the military I plan to leave contribution in TSP account (G fund). Can I get some suggestions and advice from you guys/gals? Thanks for having me.

 

[Show-me]

Good for you and welcome to the mb!

 

[KevinD]

Welcome!

Pull up a chair and make yourself at home.

 

[p3a]

Welcome, good luck and thank you for your service to our country!

 

[tsptalk]

Welcome 8 percent! Best of luck in 2009. Thank you for your service! I saw in your other post that you are off to Iraq.

 

[poolman]

Welcome and Good Luck,

Manage your account the best that you can.

Keep your Ear on the Economy.

 

[8_percent]

Thanks again all, I will refer this site to my colleagues. It seems majority of members and participation here are current or former federal employees/ retirees. I applaud ya'll for taking advantage of the benefit of TSP contribution. As far as military even though most members don't receive matching contributions its a shame that we fail to participate in investing in our future whether its TSP or IRA contributions. Sorry, I'm just venting please forgive me. Have a happy New Year Year everyone.

 

[Rod]

Can I get some suggestions and advice from you guys/gals? Thanks for having me.

Welcome

You got it! Here's my "canned" advice for all newbies-

My advice to you is to educate yourself to the point (and beyond) to know why you are making a certain TSP allocation or other investment.
Do not diversify simply for the sake of diversifying. That is a crapshoot, and will lose you money- as it did many many hard working Americans in 2008.

Empower yourself to know why you invest in where you invest, and actively manage those investments.


Rod

 

[8_percent]

Thanks for the sound advice! I'll take heed to as why one need to diversify. My reason behind the allocations I made are to take advantage of the low prices of C, S, and I funds. Therefore, try to buy as many shares as I can while the economy continues to be in a debacle.

 

[James48843]

Welcome!

And thanks for serving.

Keep your head down, and your chin strap buckled.

See you soon back here! And good luck!

 

[Rod]

Thanks for the sound advice! I'll take heed to as why one need to diversify.

I believe you understood what I was saying. But just in case, and so there is no confusion- my advice was not that one needs to diversify.

My advice was that if you do diversify, know why you are going into a certain fund. Meaning, you had better know everything that needs to be known about that particular fund. Don't simply place a certain percentage into a particular fund just to be diversified.

Have a specific entry/exit strategy for each fund based upon that particular fund's dynamics.

Know your dough

Rod

 

[8_percent]

Rod, I got it and totally agree and understand where you are coming from regarding diversifying. Like so many others, I'm trying to buy as many stock shares as possible while the prices are low. However, on that same note I definitely wouldn't hesitate to move 100% G/F funds as well to minimize risk.

Just reading the threads from this site alone has given me an open mind regarding investing in such a volatile economy. Hopefully, 9 or 10 yrs from now I'll look back and say I made a better decision of buying stocks thru TSP rather than depositing and leaving my take home pay in an online savings account.

 

[anthony]

Welcome aboard. I posted a reply for you on your thread in the military TSP section, answering some questions on SDP. I'm heading out on my fourth tour and I used to counsel men on the various savings programs as they came into theater, so if you have any follow-up questions feel free.

I have to plug Military Saves whenever I get the chance. Try to sign up your men and encourage their savings while deployed as well.

 

[8_percent]

Anthony

Wow! So you're about to go on a 4th tour, your Roth/TSP accounts must look nice with 3 yrs of previous tax-exempt contributions. Thanks for the info on the other thread. Take care.