Is USAA or Navy Federal better? Or neither?

SPC Private RallyPoint Member — Wed, 08 May 2019 22:49:40 -0400

Mostly talking about life insurance and Roth IRA, I’ve looked up about investments and decided they are just not worth it...

Response by FA David Ames made May 8 at 2019 11:03 PM

FA David Ames — Wed, 08 May 2019 23:03:30 -0400

I have both, USAA is the best, only have branches so have Navy for somethings.

Response by SGT Cory Blissitte made May 8 at 2019 11:16 PM

SGT Cory Blissitte — Wed, 08 May 2019 23:16:13 -0400

While I have not used Navy Federal for anything, USAA has always treated me really well. They were one of the first to do faxed car insurance ids, mobile check depositing, and such. Their customer support is top notch, roadside assistance is well above average, home owners insurance was totally worth it. They are awesome.

Response by SFC Private RallyPoint Member made May 8 at 2019 11:18 PM

SFC Private RallyPoint Member — Wed, 08 May 2019 23:18:56 -0400

For life insurance you should use a life insurance broker. They will compare your information for a few dozen companies and find the best deal for you.
For Roth IRA I use the TSP because it's almost completely no fee, plus you can borrow the money from yourself if you ever need without actually withdrawing it

Response by LCDR Paul D. Allen made May 9 at 2019 5:35 AM

LCDR Paul D. Allen — Thu, 09 May 2019 05:35:41 -0400

Roth TSP is a good choice. If you want a Roth IRA then you might want to check out Vanguard. They do a really good job of keeping the fees low. (Although the other brokerages have started to catch on to that, too!)
I'd shop around for life insurance. Term insurance is the better choice for most people, but since I don't know you I can't say for sure. But if it's a term policy you are after they are pretty easy to do some online comparison shopping.
Best of Luck with Your Financial Plan!

Response by MAJ Garry Venning made May 9 at 2019 8:18 AM

MAJ Garry Venning — Thu, 09 May 2019 08:18:17 -0400

I've been a member of USAA for 45 years and would never trust anyone else with my insurance or investment needs. Check out their target retirement plans for your long-term investing. Don't focus on near-term. And thanks for serving!

Response by SPC Elijah J. Henry, MBA made May 9 at 2019 8:41 AM

SPC Elijah J. Henry, MBA — Thu, 09 May 2019 08:41:18 -0400

I use USAA for life insurance. As far as I could find, it was my best option as a disabled Veteran. For my Roth IRA, I use M1 Finance. I can invest in pretty much any ETFs I want without consulting an adviser or going through them, and it's free.
ETFs are like mutual funds, but cheaper, and easier to trade.

Response by CW2 Michael Bodnar made May 9 at 2019 10:19 AM

CW2 Michael Bodnar — Thu, 09 May 2019 10:19:11 -0400

I've been using USAA for almost 20 years and have never ran into any issues. A colleague of mine lost everything in hurricane Katrina and USAA sent him a check within 72 hours and that was one of the biggest reasons I decided to move everything under USAA. Great customer service and I was able to bundle everything and get the best rates I've been able to find.

Response by CWO3 Private RallyPoint Member made May 9 at 2019 12:15 PM

CWO3 Private RallyPoint Member — Thu, 09 May 2019 12:15:06 -0400

I've used both for around 30 years. No complaints.

Response by Col Joseph Lenertz made May 9 at 2019 12:21 PM

Col Joseph Lenertz — Thu, 09 May 2019 12:21:32 -0400

USAA is great for auto and homeowner's insurance...I have stayed with them for 30+ years based on their value (benefit per cost). USAA also provided me an excellent Whole Life policy, but there are cheaper options, especially for term life. Navy Federal offers some of the best rates on checking/savings/money market accounts, CDs and car loans, but I would not use them for retirement investments or insurance.

Response by MAJ Ken Landgren made May 9 at 2019 1:33 PM

MAJ Ken Landgren — Thu, 09 May 2019 13:33:08 -0400

I love USAA. Do you know how to grade mutual funds?

Response by SPC Johnny Campbell II made May 10 at 2019 5:25 PM

SPC Johnny Campbell II — Fri, 10 May 2019 17:25:50 -0400

I haven’t used USAA for life or investing, but have been with them since I was in the Guard for auto and mortgage. They have great customer service but I found that a lot of people like personal interaction with the person that is helping them with their financial future. I’m not here to promote the company I work for or myself, but I’ve been in the financial services industry a short time. Costs are always important, but cheaper isn’t always better. If you’d like to talk and I can give you some pointers on what to look for in both life insurance and investing. Best of luck and I congratulate you on making these two a priority so soon!

Response by PO1 Thomas Dunn made May 18 at 2019 10:56 AM

PO1 Thomas Dunn — Sat, 18 May 2019 10:56:22 -0400

Use Navy Fed for saving like Cd's they have the best rates for that. Use Usaa for insurance needs. Look into fidelity for investment needs you can invest in index funds and mutual funds they have funds with no min. and no fees. You can use "Fidelity Go" to get started if you are not sure what to invest in. Recommend reading the books for Dummy's they have for stocks mutual funds and investing it will give you a good understanding of investment and how they work. Navy Fed investment service the mutual funds that they put you in are usually a loaded fund meaning you will pay a sells charge. Fidelity and USAA are no load funds no sells charge. Get educated before you invest read the books and you will fell better about you choices and understand what you are doing.

Response by SFC Joe S. Davis Jr., MSM, DSL made Oct 12 at 2022 4:54 PM

SFC Joe S. Davis Jr., MSM, DSL — Wed, 12 Oct 2022 16:54:16 -0400

thanks for sharing