Maui's Account Talk

[Cactus]

I don't know your particular situation, but most advice I've heard on the subjects says: 1) put enough into your 401K to max your matching contributions, 2) next max out your ROTH IRA, 3) put whatever you have left towards maxing out your 401K. That assumes of course that you still qualify for a ROTH IRA. If you can afford to do all three your income may be too high to qualify for a full ROTH IRA so check that out

 

[maui21ice]

I don't know your particular situation, but most advice I've heard on the subjects says: 1) put enough into your 401K to max your matching contributions, 2) next max out your ROTH IRA, 3) put whatever you have left towards maxing out your 401K. That assumes of course that you still qualify for a ROTH IRA. If you can afford to do all three your income may be too high to qualify for a full ROTH IRA so check that out

Thanks Cactus, I've heard similar answers through the grape-vine, and think I am going to try and get the most out of my Roth IRA early on in life (turn 29 next month). I have a traditional TSP from work which I do get the match, and I enjoy the tax benefits of it from paycheck to paycheck. Toss-up, but I think I'll work on that IRA early on, so it can work for me later on down the road.

 

[maui21ice]

Moved to 100% G-fund starting COB today (30 April), and most likely staying there until Mid-May for a few weeks.

I am currently in the process of stocking up cash in other investments. So far I have opened a Roth IRA through USAA and only have about $1500 in it right now, but am looking at putting around $200 a month in it to start.

My 3rd investment (aside from the TSP and Roth IRA) is going to be my ShareBuilder account. I only have $50 in there right now, and am only putting in $50 a month until my federal military buyback is over and I will up it to $150 a month.

 

[maui21ice]

Been a while since I updated. Roller coaster of a ride this Summer into the Fall, but I'm 100% C-Fund starting here on the 26th. Gotta make back from my August/September losses, and figure November/December is usually a great time to get my bump! Gonna try to end 2015 with a bang! (a good one)

 

[maui21ice]

Before coming to the bureau of Prisons I served 4 years active duty Air Force. I've only been in the BOP for 2 years, but forgot all about paying off to buy back my military time until last night. Was curious to see how much more I had left to pay it off from my paycheck, and I'm down to around $685. Not bad after putting in $2300 so far. Just a feeling of completion and something to check off the list will feel nice and accomplished.

 

[PessOptimist]

Before coming to the bureau of Prisons I served 4 years active duty Air Force. I've only been in the BOP for 2 years, but forgot all about paying off to buy back my military time until last night. Was curious to see how much more I had left to pay it off from my paycheck, and I'm down to around $685. Not bad after putting in $2300 so far. Just a feeling of completion and something to check off the list will feel nice and accomplished.

If you don’t mind me asking maui21ice what was the total cost?

Asking because a coworker forgot about buying his back and he now is out about six years and approaching five years fed time.

How did the time payment work out like how much per pay period? Sounds like it was about $3k total. Another coworker stated it was about $700 for him. Curious about your rank when you got out as that will determine the payback.

Myself and the coworker who bought his time will continue to harass the one who didn’t buy the time. It might be worth it to him someday.

PO

 

[maui21ice]

If you don’t mind me asking maui21ice what was the total cost?

Asking because a coworker forgot about buying his back and he now is out about six years and approaching five years fed time.

How did the time payment work out like how much per pay period? Sounds like it was about $3k total. Another coworker stated it was about $700 for him. Curious about your rank when you got out as that will determine the payback.

Myself and the coworker who bought his time will continue to harass the one who didn’t buy the time. It might be worth it to him someday.

PO

HAHA I'm definitely glad I did mine right away. I served 4 years, came in as an E-3 (Air Force) and got out as an E-4. It goes off of percentage of what I made all 4 years I guess. It says I made around $99,000 (before tax) for those 4 years, and I have to pay back 3%.

So to buy back my 4 years of federal military service, I owe in total: $2985. I pay $50 every 2 weeks, so overall it'll take just over 2 years total.

That is without interest accrual since I'll have it paid off before the 3 year mark in which it has to be completely paid off. Now, if I don't have it paid off by the last day of my 3rd year in the BOP, I will have to pay ALL of the interest that would have been accrued up until that point. But this may be one of those "better late than never" situations for your friend.

 

[PessOptimist]

Thanks for sharing that m21i. The guy who did “four in the corp” and got out as an E-5 isn’t going to like what he finds out but I agree with you better late than never. The guy who paid $700 served a while ago. Me, I was a lifer and got out after 24. I sent off the form to get the amount but never did even attempt to buy it back due to bad information about the annuity (retirement pay) stopping immediately.

I probably should have checked that out further but it really didn’t matter as the amount was about $12,000 and I decided I couldn’t afford it.

Just for the halibut I checked it out again about three years ago and it had grown to over $30k. The only down side to not buying it back is that with over 40 years fed time I would be so retired right now.

Thanks again for sharing the info and congrats on having it almost paid off. Like you said another thing to check off on the list and a higher annuity if you plan on retiring from BOP.

PO

 

[maui21ice]

$30,000!!

Yeah maybe that $24,000 I could see doing maybe like $100 a pay if you were going to spend 20+ years at this job too into retirement, but that $24,000 would definitely take a long time to pay off. It'd be like the more you caught up on principal, the more the interest would have grown for you! Dayum, that's rough. But everything happens for a reason. You no doubt got a good retirement ahead of you either way.

And you're welcome, glad to be of use on the information.

 

[maui21ice]

Fearing the talk of a big hit coming to the stocks, and also the gains they've made lately. I was so on the fence about whether to jump to C, or stay G. But even with C-funds strong November history, I'm going to jump 100% S-fund for now. It's got more of a risk, but I think my timings been so bad this year on stocks, I need to leave it in there for a while and just let it grow and compound interest UP UP UP for me over these years I'm putting in.

S-fund it is for me! 100%. Final decision.

 

[Ron55]

Hi Guys,

I hired in with the fed in late 2006 and had a chance to buy back my 6 years of Navy time which I did in the 70s. Cost me about $1300 and now I'm sitting on 15 years that counts towards retirment. Glad I bought back my time.

Does anyone have aclue where this market is going? Sitting on S/I/G > 68/30/2 and I have had very poor timing with IFTs through out this year.

 

[burrocrat]

Does anyone have a clue where this market is going?

i think it is going to go up, then down, and then maybe later up some more, or else down again. that is why we trade not buy and hold.

 

[maui21ice]

Does anyone have aclue where this market is going? Sitting on S/I/G > 68/30/2 and I have had very poor timing with IFTs through out this year.

I have no idea. I buy high and sell low, so maybe you wanna do opposite of me! I'm hoping up. This end of year is usually the best time of year for the stocks, so I'm taking a gamble and seeing how history hopefully repeats itself!

 

[Scout333]

i think it is going to go up, then down, and then maybe later up some more, or else down again. that is why we trade not buy and hold.

Don't forget Burro sometimes it goes sideways!

 

[maui21ice]

After much internal debate and number crunching, decided to up TSP contribution from 5% to 10%. Compound interest is my friend.

 

[maui21ice]

Nice first day in the S-fund when many places I read stated they were expecting a big drop today. Hopefully the seasonal approach works good here and the S-fund can ride high through the end of the year. I'll take a 1.74% head start though.

 

[Ron55]

Well hopefully the S-Fund will start going up. I do like yesterday's close

 

[maui21ice]

I'm hearing a lot across the board and other sites as well that November could bring a loss for stocks, but I'm gonna hold true to the seasonal approach and ride it out until the end of the year before going into Bonds. I always heard a wise saying was that when people start to get scared and are fearful and jump to the G and F, that's when the stocks boom big time. Hoping that holds true for my IFT to the S-fund now.

Then once January hits, it can tank all it wants.

 

[maui21ice]

Just under a 2% gain for the month of November in the S-fund for me. As long as it's not red! Looking forward to a good jump here in December in the S-fund which has only been negative I think...2 times since 1988! Woo-Hoo! Here's to history being on my side!

 

[maui21ice]

Have had my auto-tracker on here in the S-fund only for over a year, so a nice 17%+ gain, but in real life I'm at about 10% for the year with being 80% C, 10% S, and 10% I.