As the title states, I’m a 25-year-old male that’s enlisted in the military. Pay is decent, but with the rise of costs and inflation, it’s starting to get to me. What do you all suggest for someone in my situation?
Active Duty Military Member Here, Would Like to Get Some Form of Secondary Income, What is Possible?
Stay in the barracks, eat at the chow hall, don’t buy a car or at least only an older Toyota for like 5-10k. Save everything since you don’t have to spend anything to survive (especially if you’re not married), and learn to invest. Then invest everything you can.
Ah man, that’s nice. I wish I still had my '93 Gen1 Cummins 4X4. The prices for them now are insane.
Ah man, that’s nice. I wish I still had my '93 Gen1 Cummins 4X4. The prices for them now are insane.
The old trucks not only have their charm but are surprisingly easy to work on, and parts for them are plentiful. That and no monthly payments, ridiculously high insurance, etc.
@Lior
Yeah, there’s a reason most people off-road with older Chevys; parts galore.
@Ira
That’s pretty much what I do (own an '01 Impala and a '90 K5 Blazer) but still, you know.
Lior said:
@Ira
That’s pretty much what I do (own an '01 Impala and a '90 K5 Blazer) but still, you know.
OHHHH SHIT! A K5! An old soul there! Ooh-Rah.
Lior said:
@Ira
That’s pretty much what I do (own an '01 Impala and a '90 K5 Blazer) but still, you know.
[deleted]
Lior said:
@Ira
That’s pretty much what I do (own an '01 Impala and a '90 K5 Blazer) but still, you know.
[deleted]
I won the Impala in a bet; the K5 is my daily.
Please understand your TSP. The auto fund is the G fund, which has minimal returns. I like the C fund since it tracks the S&P 500. Check the Fund Performance.
sabastian said:
Please understand your TSP. The auto fund is the G fund, which has minimal returns. I like the C fund since it tracks the S&P 500. Check the Fund Performance.
They changed the default fund back in 2016 to an age-appropriate lifecycle fund.
@Vale
Thank you, that’s good info. Based on OP’s age, they could or could not be in the G fund. It’s still worth checking fund allocation.
Use the VA loan to buy a house, preferably a multi-family. Live in one of the rooms and rent out the others. Repeat at each duty station.
Vale said:
Use the VA loan to buy a house, preferably a multi-family. Live in one of the rooms and rent out the others. Repeat at each duty station.
This is the secret. Rates are higher now, but I bought my first townhome in 2019 with low closing costs and 0 down. Made a lot of money.
You can monetize unused bandwidth. Make $3-5 a day just by keeping your computer on. Some people made over a thousand dollars last year. Sign up here.
Focus on the macro. Invest heavily in TSP, then move to ETFs. I wish I had done that when I was a younger sailor.
Go to school and apply for FAFSA money.
Save in Bitcoin every payday.
Ask Jody to contribute to some bills.