Newbie-- Military ADAF

[Tankrat37]

Hello All, I first started in Sep 05. Putting in an avg of $142/mo. I didn't touch anything until last week, so obviously everything went into the G Fund. I put everything into C S and I on the 20th (47, 21, and 32 respectively). I messed up my first transaction buy going 33/33/34 to L2030, I, and C on the 14th-- after reading that it is all or none in the L's, I pulled out the 33 and went 47/21/32. Today, after watching TVJapan and seeing that Japan isn't looking at a recovery for a little while, I pulled out of the I and defaulted to G, since i don't have any more IFTs left this month. So whaddya think? Good, bad, otherwise??? By the way, I'm Jeff at Fairchild. I am a tank diver (Fuel Cell) and I am also wondering about matching contributions for military. I think Maintainers and other "undesirable" career fields should have MCs, since we don't get nice coushy 8-3 desk jobs, there should be some benefit to pulling the AF's weight!

 

[tsptalk]

Welcome Tankrat / Jeff! The G fund looks like a good investment for a few months, but of course we will get the occasional rally.

 

[Frixxxx]

Welcome Airman,

Well, as far as your moves, WOW! You are a trader!!!!

Welcome to the boards. I was stationed at Fairchild back in the late 80's (first assignment). Ski season is almost upon you and you'll have plenty of opportunity to enjoy some powder.

As far as your matching contribution issue, cross train....hahahaha Get a cushy desk job.

No but really, if you are a lifer, you literally get a $1,000,000 annuity at retirement. Steady pay after 20 years and no work? That's an investment most civilians dream about. And they usually have to wait longer than twenty years.

I know it's not a living on the amount, unless you live in the outback and don't want any of the modern day conveniences, but woohoo free money!!!!!

Good luck in your career and investing!!!!!!!!!

Your friendly neighborhood AF neighbor
Frixxxx

 

[nnuut]

Welcome Tankrat37, good to have you on the Message Board!
Norman

 

[Tankrat37]

No but really, if you are a lifer, you literally get a $1,000,000 annuity at retirement. Steady pay after 20 years and no work? That's an investment most civilians dream about. And they usually have to wait longer than twenty years.

So Feds don't get that same retirement? Is that why they get MCs?

 

[Frixxxx]

No but really, if you are a lifer, you literally get a $1,000,000 annuity at retirement. Steady pay after 20 years and no work? That's an investment most civilians dream about. And they usually have to wait longer than twenty years.

So Feds don't get that same retirement? Is that why they get MCs?

No, Federal employees don't get the same retirement. A while back, feds moved from CSRS (% of pay) to FERS (small percentage of pay + TSP).

There are a few CSRS employees still in the system because of hire date. But all new employees are FERS.

I am one of the few which get a chance to invest from the military & civilian side because I am an Air Force Reservist. I get matching only from the civilian side because after I reach 20 years on the military side I get a retirement check at 60 for my service.

BTW FERS matching is the gov't gives you 1% whether you contribute or not. Then you get matched dollar for dollar on your first 3%. Then a 1/2% at your 4-5%.
Example:
you make $20,000/yr
FERS TSP $200
your 5% $1000
match $800
total for the year TSP is $2000

Compare to Active duty military
20 years no financial contribution by member
$50,000/year contribution Uncle Sam
retirement $1,000,000 annuity:nuts:

 

[PessOptimist]

No but really, if you are a lifer, you literally get a $1,000,000 annuity at retirement. Steady pay after 20 years and no work? That's an investment most civilians dream about. And they usually have to wait longer than twenty years.

Frixxxx

First, welcome Tr37. Keep em flyin and all that happy horse stuff. I am a retired lifer, who wasn't offered any TSP. I don't know how the current AF retirement system is structured. When I retired the deal was 2.5% x years x base pay. So if I live 40 years or so after retirement it's a million bucks.

Frixxx, most civilians dream about the reward but would not have even considered the sacrifice to get there. Don't know what you did active or do in the reserves but trust me, if Tr37 is in fuel cell maintenance he works for a living and has or is destined to work in the sand box. More than once. I also worked for a living, in spite of popular opinion, as a comm maintenance guy and spent a lot of time at places with no runway and therefore no Wing to support me. So talk about the million dollars and the civies dreaming about it all you want, but please do not make it sound like it is money for nothing and some big government scam.

Tr37, keep the million bucks thing in mind. It makes my mortgage payment every month and the current J.O.B. pays the bills. Put as much as you can in that TSP even without matching funds. You will be better off later. What fund? I dunno, that's why I am here.

Your retired AF neighbor.

And Frixxx - not trying to start a war or anything

 

[Tankrat37]

When I retired the deal was 2.5% x years x base pay. but trust me, if Tr37 is in fuel cell maintenance he works for a living and has or is destined to work in the sand box. More than once. I also worked for a living, in spite of popular opinion, as a comm maintenance guy and spent a lot of time at places with no runway and therefore no Wing to support me. And Frixxx - not trying to start a war or anything

Hey, someone who knows Fuel Cell!! Thanks for the props! Anything title with MX in it, you know it is a real AF job! For our retirement now, I believe there are 2 options. The standard is that you get 50% of base pay for life. The other option is take 30K at 15yr mark and get reduction in retirement until 62yrs old, then normal retirement pay. It comes down to 30K up front, or avg of 5K/year for 25yrs. I just hit my 10, so I have some time to think about it.

 

[Fivetears]

Ah... Band of Brother Rats! Tank diver since '81. KC135A, B-52G/H, KC-10A, Currently C-5A. Second job tank diving for NAAS in San Antonio in the mid 90's with Harold Mann. DC-8, DC-9, 737, 747, 757. All heavies; 27 years; liver is pickled. :nuts:

 

[Frixxxx]

Frixxx, most civilians dream about the reward but would not have even considered the sacrifice to get there. Don't know what you did active or do in the reserves but trust me, if Tr37 is in fuel cell maintenance he works for a living and has or is destined to work in the sand box. More than once. I also worked for a living, in spite of popular opinion, as a comm maintenance guy and spent a lot of time at places with no runway and therefore no Wing to support me. So talk about the million dollars and the civies dreaming about it all you want, but please do not make it sound like it is money for nothing and some big government scam.

Tr37, keep the million bucks thing in mind. It makes my mortgage payment every month and the current J.O.B. pays the bills. Put as much as you can in that TSP even without matching funds. You will be better off later. What fund? I dunno, that's why I am here.

Your retired AF neighbor.

And Frixxx - not trying to start a war or anything

No war here, I was trying to emphasize the difference between millitary service & civilian with the reward. I know that fuel cell works for a living. I'm combat comm by most standards. My cross-train remark was tongue in cheek. I'm now a civilian employee and KNOW the differences. I was hoping to prove a point that the "expectation" that civilians get it easy isn't true. If a kid who joins the military at 18 get a retirement check at 38. That same kid has to work another 17 years to get a "retirement".

I'm with your rational 100%, Pess!!!

 

[EW_ret]

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