Posted on Apr 4, 2017
SGT Elizabeth Elliott
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LTC Stephen C.
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SGT Elizabeth Elliott, look for a reputable financial professional in your area. Statistics show that generally, people do better with professional guidance.
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SPC Erich Guenther
SPC Erich Guenther
>1 y
Depends on the Financal Advisor, 50-60% don't know much more than novice level about investing for retirement or how to buy stocks and bonds.
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LTC Stephen C.
LTC Stephen C.
>1 y
SPC Erich Guenther, of course it depends on the advisor. You could make the same comment about many other professions just as easily.
I've been in financial services since 2006, so believe me, I'm keenly aware of the general knowledge level of many in this profession. The attrition rate of first/second year advisors is through the roof.
Having said that, there are still many, many financial professionals that can really help people out. That's why I said reputable financial professional. SGT Elizabeth Elliott
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MSG Brad Sand
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Edited >1 y ago
Wisely?

I think if you are in the military the Thrift Savings Plan is at least worth looking into. So much easier to save if you can set it up so you never actually have access to your own money.

SGT Elizabeth Elliott Looking at what others are posting, they are doing what is right for them, you need to find what is right for you. With the little I know of you right now...I would have you think long and hard before going down the real estate...everything has it's positives and negatives.
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SGT Elizabeth Elliott
SGT Elizabeth Elliott
>1 y
As you can tell, I am not very educated in this area but realize I need more than what I currently have available.
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SCPO Morris Ramsey
SCPO Morris Ramsey
>1 y
Professional advice should be sought. Someone who will not get mad if you tell them it is not for you. 30 years in the Navy is a pretty good way. But if you only do 20 that is pretty good also.
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SGT Elizabeth Elliott
SGT Elizabeth Elliott
>1 y
Im interested in the thrift savings plan. Who do i talk since im medically retired
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MSG Brad Sand
MSG Brad Sand
>1 y
SGT Elizabeth Elliott -
Not sure if you can enroll in the TSP if you are not in the military or at least a civilian employee? In reality, the TSP is not a lot different than any other IRA? The first think I would recommend you look at doing is getting an Roth IRA set up and make sure you put $5,500 for 2016...yes 2016...right now if you can.
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Sgt Field Radio Operator
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Edited >1 y ago
SGT Elizabeth Elliott Max out your contributions to a 401K and Roth IRA each year. Stick with low cost index mutual funds like those provided by Vanguard if you have a choice with your 401K. Invest other money in taxable mutual funds for emergency funds and future expenditures. Do your research so that you are an informed investor. Prepare a net worth spreadsheet each year so that con can track your progress. Investing is not hard once you learn the basics and monitor your investments.


https://investor.gov/

https://investor.vanguard.com/corporate-portal/
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SPC Erich Guenther
SPC Erich Guenther
>1 y
Mutual Funds increase your fees for not much more in the way of diversification. You can invest in three Multi-National U.S. Stocks and have the same diversification as a Mutual Fund............advantage being your not paying Mutual Fund Fees. Though I would agree that Mutual Fund Fees are largely irrelevant if you have a fund growing on average 18-20% annually.
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Sgt Field Radio Operator
Sgt (Join to see)
>1 y
SPC Erich Guenther - Vanguard Balanced Index Fund Admiral Shares has an expense ratio of 0.08%. Vanguard has very low expense ratios. Low cost index mutual funds should be at the core of a retirement plan. Once an investor is knowledgeable, they can buy some individual stocks, but they should be a small portion of their portfolio.
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