Merry Christmas to you all.
Original post here.
https://www.reddit.com/r/MilitaryFinance/s/Ki6MD50sxC
Currently.
18YOS (E7) single income, 4kids.
Hit the million $ mark yesterday, made for a Merry Christmas.
Changes I made over the last year to gain $100k+.
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Moved money from going into CD’s (4+ % interest) to my brokerage account. I still
Have a large chunk of money (450k+) in CDs with the expectation to buy a house in the next 2 years. -
Brokerage (270k+) had some good wins with a couple individual stocks I bought (Google, Rocket lab, defense stocks) but a majority goes into VOO.
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Increased my Roth TSP (70k+) contributions to 12%. My plan is to roll it over after service into my Roth IRA (180k+) to have easy access to it earlier in life if needed and no minimum distribution if I want it to sit longer.
Currently planning to go past 20yrs of service. Enjoying my job, I make 6 figures, and have the potential to serve an enjoyable tour after this one along buy a house in a lower cost area.
This gets me to 23-24YOS where I will retire on High3 system, collect some VA disability and be able to watch my kids grow up living comfortably doing some part time job if I need.
Enlisted Military millionaire
byu/Whirly-birdy inMilitaryFinance
Posted by Whirly-birdy
2 Comments
Great stuff. Love reading successes like this. Don’t forget each year past 20 for you is an extra 2.5% on the pension which really adds up.
You covered it a bit in the linked original post but how is your quality of life? Are you guys able to enjoy life or is there a lot of stress in day-to-day life in an effort to save money?
Legitimately asking because a lot of people get trapped into thinking you have to have a miserable existence to save this kind of money.
Extremely impressive achievement though, especially as enlisted with a single income. Congratulations.