Without delving into shitposting and /pol/ shit; any tips for investing money while in the Army or military?
Im 22 single and I make about 1800 a month after taxes and have almost no expenses other than 50 a month for internet. I put 5% into my TSP L fund, and have 15k in the bank making .05% interest. Thoughts on TSP in general?
How long do you plan to stay in the military. If you know you're doing 20 + years, throw as much as you can into your TSP. Keep living off of that low income, without changing your expenses as you increase in pay through the ranks. I don't know alot about TSP, except that I've heard numerous stories about disciplined individuals retiring with 1mil+ because they dumped 15% into it while serving.
VOO my nigga
Or open a vanguard account
>buy car outright so no payments and cheaper issuance
>split internet with roommate
>$30/month T-Mobile plan
>Limit alcohol and eating out
>Don't be afraid to pour money into a hobby that keeps you sane
>Use DANTES and TA to get a regionally accredited degree (kills time and let's you use your GI Bill for Masters, another bachelors or vocational school)
You can easily save $1000/month. Sucks as a private but life blows until you make Specialist anyways. Roth TSP is better than a Roth IRA because lower fees than even Vanguard and 3x higher max contributions. Very achievable to get to $50,000 and a BA in Underwater Basket Weaving at the end of 4 years. No on in the military does it though because they have poor financial discipline and independent study skills. If you're really smart, you use your BA to commission in a cush branch and coast to 20 years to enjoy that O4 pension plus the $750,000 in your Roth TSP.